‘Economics is the study of mankind in the ordinary business of life’ was given by : 

A study of how increase in the corporate income tax rate will affect the natural unemployment rate is an example of : 

Under a free economy, prices are : 

In a free market economy, when consumers increase their purchase of a goods and the level of _______exceeds ______ then prices tend to rise : 

Under Inductive method, the logic proceeds from: 

Which of these would cause a rightward shift of the PPC curve? 

  Economics is the study of : 

Who defines Economics in terms of Dynamic Growth and Development? 

Which one is not the characteristic of capitalistic economy? 

Capitalistic Economy uses _____ as principal means of allocating resources. 

Micro economics is also known as_______ 

 Which one in the following is not correct: 

Who gave the positive aspect of science? 

 In a capitalist economy the allocation of resources is performed by: 

Which of the following are the features of a mixed economy? 

Which is called Gossen’s second Law ?

Which of the condition support long run equilibrium in monopolistic competition  ?

Who explained importance of time element in price determination, for the first time ?

Who distinguished between value in use and value in exchange and gave the famous example of diamonds and water ?

When income effect becomes stronger than substitution effect, the labour supply curve will :

Assertion (A)   : The concept  of supply curve is meaningless for the monopolist.
Reason   (R)   : Monopolists are price setters ; it does not make reuse to ask what output they will produce at various prices.

The cost incurred by the firm in hiring labour is called as :

The locus of Pareto optimality in production and consumption is given by :

Match items given in List-1 with those in List-II :
    List-I                                      List_II
a. Tea and coffee           1. Veblen goods
b. Car and petrol            2. Substitutes
c. Gold and               3. Giffen goods
    Diamonds              
d. Ragi and Bajra       4. Complementary

Fiscal deficit less interest payments is called

How many countries are the members of European Union ?

If the mean and variance of a given distribution is 8 and 0.25, then the coefficient of variation will be

Under Cournot Model of Duopoly, each duopolist will produce :

As long as the substitution effect dominates the income effect, the labour supply curve is :

Assertion (A)     :  Monopoly is Pareto inefficient .
Reason (R)         :  It would be possible to change the allocation of resources to make the amount of Income he would be prepared to pay in exchange of the reduction in price

The revealed preference theory of consumer’s behavior is based on :

An individual’s supply curve for labour will bend backwards when : 

The short run supply curve of a firm under perfect competition is the same as the :

The Opportunity Cost Curve assumes that 

Hedging refers to ; 

An increase in the marginal propensity to import :

For downward movement along the isoquants , MRTS of labour per unit of capital (MRTS_L,K) is given by: 

Which of the following is not instructional material ?

Which of the following is the most significant in stabilization policy ?

Green Box subsidies under WTO are allowed because they are considered to be : 

Which one of the following is not reserved for public sector ?

The rate at which the Central Bank discounts the bills of commercial banks is called :

Marginal Revenue of a Monopoly firm is less than the price, Because :

For an inferior goods , income consumption curve and Engles curves are :

The classical economists focused on the role of money as :

In case of indifference curve of two goods X and Y, as consumption of X increases :

General Economic equilibrium is NOT related to which one of the following problems ?

In the shoft-run production function, which on eof the following is CORRECT ?

As output expands, LAC curve falls. This is due to :

In a situtation of decision under uncertainty, if a consumer faces equal expected income from two alternatives, then she will take decision on the basis of :