Sample Mcqs Economics For Inspector Land revenue
1. Income elasticity of demand for an inferior good is: (a)Positive (b)Zero (c)Both (a) & (b) (d)None of these 2. Convexity means averages are ________________ than extremes: (a) Worse (b) Positive (c) Better (d)None of these 3. Sum of MPC and MPS equals: (a)2 (b)3 (c)4 (d)None of these 4. During the Liquidity Trap, LM curve is: (a)Less elastic (b)Positive (c)Perfectly elastic (d)None 5. The dominant factor of production is: (a)Energy (b)Labour (c)Technology (d)None of these 6. GDP deflator is a ratio between: (a)Input prices (b)Output prices (c)Both (a) & (b) (d)None 7. During monopoly, the equilibrium condition is: (a)MC=P (b)MC>MR (c)MC=MR (d)None of these 8. During perfect competition, t...