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Economics Entrance Exam: Mock Test 21

Income Determination in Closed Economy Quiz Questions and Answers PDF Download - 21

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Income Determination in Closed Economy Questions and Answers PDF Download: MCQ 21

MCQ: 101

The type of investment that accounts both raw and finished items is known as

  1. direct investment
  2. foreign investment
  3. planned investment
  4. inventory investment
MCQ: 102

A case of elasticity that is either be equal to unity or greater than unity or less and vice versa is known as

  1. elasticity of demand
  2. inelasticity of demand
  3. elasticity of supply
  4. inelasticity of supply
MCQ: 103

Most of the production functions do not have straight lines and are

  1. positive increasing
  2. positive decreasing
  3. negative decreasing
  4. curved
MCQ: 104

The type of industry where a single firm is able to supply a product or service at a lower cost as compare to the other firms prevailing in the market is known as

  1. natural monopoly
  2. monopoly resources
  3. oligopoly
  4. price leadership
MCQ: 105

The proportion of an aggregate raise in pay that a consumer spends on the consumption of goods and services, as opposed to saving it is known as

  1. marginal propensity to save
  2. investment function
  3. marginal propensity to consume
  4. saving function

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