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