Answer

  1. Point R

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Suppose that the supply of cameras increases due to an increase in imports. Which of the following statements will most likely occur?
  1. The equilibrium price of cameras will increase.
  2. The equilibrium quantity of cameras exchanged will decrease.
  3. The equilibrium price of camera film will decrease.
  4. The equilibrium quantity of camera film exchanged will increase.
Which one of the following statement is not a characteristic of monopolistic competition?
  1. Ease of entry into the industry.
  2. Product differentiation.
  3. A relatively large number of sellers.
  4. A homogenous product.
Equilibrium price may be determined through _______.
  1. only demand.
  2. only supply.
  3. both demand and supply.
  4. none of the above.
What can be the minimum value of investment multiplier?
  1. 0
  2. 1
  3. 2
  4. 3
Demand curve is elastic under:
  1. Perfect competition.
  2. Monopoly.
  3. Monopolistic competition.
  4. All of the above.
When demand curve is parallel to X-axis, elasticity of demand is:
  1. Unity.
  2. Zero.
  3. Greater than unity.
  4. Infinity.
Which part of government budget shows the current receipts?
  1. Capital budget.
  2. Revenue budget, as they are recurring in nature.
  3. Both (a) and (b).
  4. Neither (a) nor (b).
Price discrimination will be profitable only if the elasticity of demand in different sub markets is:
  1. Uniform.
  2. Different.
  3. Less.
  4. Zero.
Under which budget, governments estimated revenue is equal to government's estimated expenditure?
  1. Balanced budget.
  2. Constant budget.
  3. Deficit budget.
  4. Revenue budget.
Supply is a ______ concept.
  1. Stock.
  2. Flow and stock.
  3. Flow.
  4. None of them.