Which one of the following is not a point in the Welfare Definition of Economics?

(a)

Study of an ordinary man

(b)

Economics does not focus on wealth alone

(c)

Economics is the study of material welfare

(d)

Economics deals with unlimited wants and limited means

General theory of 'Employment Interest and Money' published in _____

(a)

1930

(b)

1936

(c)

1988

(d)

1990

Who assumed that "utility is measurable".

(a)

Alfred Marshall

(b)

Adam smith

(c)

Hicks

(d)

Ricardo

Which of the following would not result in a rightward shift of the PPC?

(a)

Increase in investment in capital stock

(b)

Reduction in labour unemployment rate

(c)

Discovery of new oil deposits

(d)

Increase in the number of people

When marginal utility reaches zero, the total utility will be

(a)

Minimum

(b)

Maximum

(c)

Zero

(d)

Negative

Higher Indifference curve indicates ____

(a)

Higher level of satisfaction

(b)

Higher cost

(c)

Lower cost

(d)

Lower level of satisfaction

The demand curve slopes upwards from left to right known as

(a)

Exceptional demand curve

(b)

Shift in demand curve

(c)

Extension and contraction demand curve

(d)

Steep sloping demand curve

A firm under monopoly can earn ________ in the short run

(a)

Normal profit

(b)

Loss

(c)

Super normal profit

(d)

More loss

Money wages are also known as

(a)

real wages

(b)

nominal wages

(c)

original wages

(d)

transfer wages

Density of population =

(a)

Land area / Total Population

(b)

Land area / Employment

(c)

Total Population / Land area of the region

(d)

Total Population / Employment