Q.51)-_______is a good whose quantity demanded decreases when consumer income rises
- Veblen good
- Normal good
- Exclusive good
- Inferior good
Q.52)-If goods A and B are subsituters, a decreases in the price of good B will
- Decrease demand for and B
- Decrease demand for both the goods
- Increase demand for both the goods
- Decrease demand for goods A
Q.53)-Macro economics deals with
- The circular flow of income
- The decision making of a single economic variable like demand
- Resource allocation at firm level
- Equlibrium prices and quantities
Q.54)-Which of the following will cause an increase in the demand for coffee
- Price of coffee falling in foreign markets
- Coffee prices are expected to fall rapidly in domestic markets
- Average income falls in the country
- Increase in the price of tea
Q.55)-Goods whose demand is proportional to price are called
- Inferior goods
- Veblen goods
- Normal goods
- Exclusive goods
Q.56)-Which sector has the highest number of people working in India
- Manufacturing
- Agriculture
- its dominance of the market
- Services
Q.57)-Which of the following will cause an increae in demand for a good
- An incrase in income fi the good is an inferior goods
- A decrease in the price of the goods
- A decrase in income if the good is a normal goods
- An increase in the price of its substitute goods