Question : Which law states that bad money drives good money out of circulation?

Option 1: Wagner's law

Option 2: Grimm's law

Option 3: Gresham's law

Option 4: Keynes' law

Question : Which law of economics states, "Bad money drives out good money"?

Option 1: Baxter's Law

Option 2: Ohm's Law

Option 3: Gresham's Law

Option 4: Gauss's Law

Question : Which law states that with constant taste and preference, the proportion of income spent on food stuff diminishes as income increases?

Option 1: Say's Law

Option 2: Griffin's Law

Option 3: Gresham's Law

Option 4: Engel's Law

Question : If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good, which is called _____.

Option 1: law of demand

Option 2: law of supply

Option 3: law of substitute

Option 4: law of optimal choice

Question : The law of demand is based on:

Option 1: Manufacturer's preference

Option 2: Seller's preference

Option 3: Supplier's preference

Option 4: Consumer's preference