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Preparation of butter, ghee by a household for their own use is a part of :
Posted on: 30, November 2021

Q1211. Preparation of butter, ghee by a household for their own use is a part of :
(a) own-account production
(b) household capital formation
(c) industrial production
(d) consumption
Ans: (d)
________________________________________
Q1212. Over short period, when income rises, average propensity to consume usually
(a) rises
(b) falls
(c) remains constant
(d) fluctuates
Ans: (b)
________________________________________
Q1213. The basic problem studied in Macro – Economics is
(a) production of income
(b) usage of income
(c) flow of income
(d) distribution of income
Ans: (a)
________________________________________
Q1214. The relationship between the rate of interest and level of consumption was first visualized by
(a) Amartya K. Sen
(b) Milton Friedman
(c) Irving Fisher
(d) James Duesenberry
Ans: (c)
________________________________________
Q1215. Regarding money supply situation in India it can be said that the :
(a) Currency with the public is inconvertible only.
(b) Currency with the public is less than the deposits with the banks.
(c) Currency with the public is more than the deposits with the banks.
(d) Currency with the public is almost equal to the deposits with banks.
Ans: (b)
________________________________________
Q1216. Equilibrium price in the market is determined by the
(a) equality between marginal cost and average cost.
(b) equality between total cost and total revenue.
(c) equality between average cost and average revenue.
(d) equality between marginal cost and marginal revenue.
Ans: (d)
________________________________________
Q1217. Surplus budget is recommended during :
(a) Boom (b) Depression
(c) Famines (d) War
Ans: (b)
________________________________________
Q1218. Barter transactions means
(a) Goods are exchanged with gold.
(b) Coins are exchanged for goods.
(c) Money acts as a medium of exchange.
(d) Goods are exchanged with goods.
Ans: (d)
________________________________________
Q1219. Average Fixed Cost Curve is
(a) Upward sloping
(b) ‘U’ shaped
(c) ‘V’ shaped
(d) Downward sloping
Ans: (d)
________________________________________
Q1220. Market segmentation is:
(a) Group of Sales Persons
(b) Dividing target groups as per their needs
(c) Market Division
(d) Market Space
Ans: (b)
________________________________________
Q1221. When average product of an input is at its maximum then :
(AP= Average product)
(MP= Marginal product)
(a) AP = 0 (b) AP = MP
(c) AP > MP (d) AP


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