Determination of Income and Employment — Economics STD 12 Humanities & Commerce — Question

Are the following statement true or false? Give reason.
In spot market sale and purchase of foreign currency is settled on a specified future date.

Giving reasons, state whether the following statements are true or false.
A consumer is in equilibrium if he earns the maximum profit.

Giving reason, state whether the following statement are true or false.
Accommodating items of trade are undertaken in order to maintain the balance in the BOP account.

Giving reasons, state whether the following statements are true or false:
If the decrease in demand meets with an increase in supply, equilibrium price will fall.

When average revenue falls marginal revenue falls faster than average revenue. (True/ False)

Giving reasons, state whether the following statements are true or false.
Total product always increases whether there is increasing returns or diminishing returns to a factor.

Giving reasons, state whether the following statements are true or false.
Price elasticity of demand explains qualitative relationship between price and demand.

Giving reasons, state whether the following statements are true or false.
When the quantity of a variable input is increased from 4 to 6 units, the total output increases from 85 units to 105 units. The marginal product of the variable input is 20 units.

The demand for a commodity always increases with increase in the prices of other goods. True or false?

Giving reasons, state whether the following Its are true or false.
Average variable cost can fall even when marginal cost is rising.