Goods for which demand move in the opposite direction of the inco

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301.

Goods for which demand move in the opposite direction of the income of the consumer are called?

  • Inferior goods

  • Normal goods

  • Complementary goods

  • Substitute goods


A.

Inferior goods


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302.

If the ............ firm has zero cost or only has fixed cost, the quantity supplied in equilibrium is given by the point where the average revenue is zero.

  • Perfect Competition

  • Monopoly

  • Oligopoly

  • Monopolistic Competition


303.

The average variable cost curve is ............. shaped.

  • U

  • V

  • X

  • W


304.

The ..............balance is the sum of the balance of mechandise trade, services and net transfers received from the rest of the world.

  • Current Account

  • Savings Account

  • Capital Account

  • Asset Account


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305.

The relation between the consumer's optimal choice of the quantity of a good and its price is very important and this relation is called ................. function.

  • price

  • substitution

  • supply

  • demand


306. Reserve Bank of India is listed in the ............list given in the Seventh Schedule in the Constitution of India.
  • Union

  • State

  • Global

  • Concurrent


307.

............... can give the Union parliament power to make laws on matters included in the State list.

  • Ministry of Defence

  • Prime Minister's Office

  • Securities and Exchange Board of India

  • Rajya Sabha


308.

The demand for a normal good decreases with .......... in the consumer's income.

  • increase

  • decrease

  • constant

  • double


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309.

Short run marginal cost curve cuts the short run average cost curve from .............at the minimum point of short run average cost.

  • top

  • below

  • right

  • left


310.

The ............ balance is equal to capital flows from the rest of the world, minus capital inflows to the rest of the world.

  • Current Account

  • Savings Account

  • Capital Account

  • Asset Account


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