Question : When the percentage change in demand for a commodity is less than the percentage change in its price then demand is said to be

Option 1: highly elastic

Option 2: inelastic

Option 3: relatively elastic

Option 4: perfectly inelastic

Question : Elasticity (e) expressed by the formula 1 > e > 0 is

Option 1: Perfectly elastic

Option 2: Relatively elastic

Option 3: Perfectly inelastic

Option 4: Relatively inelastic

Question : The intervention of the government whether to expand demand or reduce it constitutes the ________.

Option 1: stabilisation function

Option 2: redistribution function

Option 3: expenditure function

Option 4: transition function

Question : The number of times a unit of money changes hands during the unit period is called the ________.

Option 1: velocity of circulation of money

Option 2: base money

Option 3: remittances

Option 4: zero economic profit

Question : If the momentum of a body is doubled, the kinetic energy is:

Option 1: becomes 1/4 times

Option 2: unchanged

Option 3: doubled

Option 4: becomes 4 times