Question : Backward-bending supply curve belongs to which market?
Option 1: Capital
Option 2: Labour
Option 3: Money
Option 4: Inventories
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Correct Answer: Labour
Solution : The correct option is Labour.
The backwards-bending supply curve is associated with the labour market, depicting the relationship between wage rate and labour supplied. Initially, higher wages lead to an increased labour supply. This aligns with the law of supply.
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Question : Which curve shows the inverse relationship between unemployment and inflation rates?
Option 1: Supply curve
Option 2: Indifference curve
Option 3: IS curve
Option 4: Phillips curve
Question : Which of the following curve describes the variation of household expenditure on a particular good with respect to household income?
Option 1: Demand curve
Option 2: Engel curve
Option 3: Great Gatsby curve
Option 4: Cost curve
Question : Situation analysis is useful for:
Option 1: analysis of capital market
Option 2: SWOT analysis
Option 3: security market
Option 4: gilt-edged market
Question : Seller market denotes a situation where :
Option 1: Commodities are available at compititive rates .
Option 2: Demand exceed supply .
Option 3: Supply exceed demand .
Option 4: Supply and demand are evenly balanced .
Question : Inflation is caused by
Option 1: Increase in money supply and decrease in production
Option 2: increase in money supply
Option 3: increase in production
Option 4: decrease in prodution
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