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Economics MCQs

Commerce Objective Questions

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421. In the case of a short-run production function, the factor ratio remains
A. Constant
B. Variable
C. Either constant or variable
D. None of the above
Discussion
422. Which of the following is the largest source of income of the government of India?
A. Direct tax
B. Indirect tax
C. Progressive tax
D. Specific tax
Discussion
423. Price, Marginal Revenue and Elasticity are related to each other. When e = 1, then:
A. MR > 0
B. MR < 0
C. MR = 0
D. MR = 1
Discussion
424. In the short period, monopolist firm's equilibrium is at
A. Break-even point
B. AR > AC
C. AR < AC
D. All of these
Discussion
425. Elasticity is commonly stated in the form of
A. 1% change
B. 5% change
C. 9% change
D. All of the above
Discussion
426. "Money is the pivot around which the economic science clusters." This statement was stated by:
A. Adam Smith
B. Alfred Marshall
C. J. M. Keynes
D. Koutilya
Discussion
427. Match the following.
List-I List-II
a. Trade channel discount 1. Oligopoly pricing
b. Loss leadership 2. Locational price differentials
c. Pricing being non-responsive to changes in the demand and the cost 3. Differential pricing
d. Basing point pricing 4. Product line pricing
A. a-4, b-3, c-2, d-1
B. a-3, b-4, c-1, d-2
C. a-2, b-3, c-4, d-1
D. a-1, b-2, c-3, d-4
Discussion

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