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True/False
Question Under perfect competition, price is determined by the interaction of total demand and total
supply in the market.
Correct Answer False
Your Answer True
True/False
Question Macro-economies is a policy oriented science.
Correct Answer True
Your Answer True
True/False
Question The Keynesian theory emphasizes effective supply as a crucial factor in determining the level of
income and employment.
Correct Answer False
Your Answer False
Resource allocation decisions in free market economy Theory of price Theory of price
Economic problem Universal Universal
Managerial Economics Applied branch of knowledge Applied branch of knowledge
Inflation Reduction in purchasing power Theory of price
Waste of resources Involuntary unemployment Involuntary unemployment
True/False
Question Under perfect competition,firms are free to enter and exit in the market.
Correct Answer True
Your Answer True
True/False
Question The congress government led by Narsimha Rao announced the New Industrial Policy in July
1991.
Correct Answer True
Your Answer True
True/False
Question The distinction between fixed costs and variable costs is relevant in the short period only.
Correct Answer True
Your Answer True
True/False
Question The sum of total fixed costs and total variable costs is the total cost.
Correct Answer True
Your Answer True