Question : The collection of all bundles a consumer can buy with her income at the prevailing market prices is called the ______.
Option 1: budget set
Option 2: budget constraint
Option 3: budget anomaly
Option 4: budget line
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Correct Answer: budget set
Solution : The correct option is the budget set.
The collection of all bundles that a consumer can buy with their income at the prevailing market prices is called the budget set. This set represents the various combinations of goods and services that the consumer can afford given their income and the prices of the goods in the market.
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Question : Which of the following is the incorrect sequence of national income from broader to narrower concepts?
Option 1: GNP at market prices - NNP at factor cost - NNP at market prices - GNP at factor cost
Option 2: GNP at market prices - NNP at market prices - NNP at factor cost - Personal income
Option 3: NNP at factor cost - Personal income - Personal disposable income
Option 4: GNP at factor cost - NNP at factor cost - Personal income - Personal disposable income
Question : National Income is also called as :
Option 1: GNP at Factor Cost
Option 2: GNP at Market Price
Option 3: NNP at Factor Cost
Option 4: NNP at Market Price
Question : Select the most appropriate option that can substitute the underlined segment in the given sentence.
Meenakshi called out for the neighbourhood to get support for her campaign.
Option 1: called by the neighbourhood
Option 2: called of the neighbourhood
Option 3: called in the neighbourhood
Option 4: called around the neighbourhood
Question : The savings rate is relatively low in developed economies because of
Option 1: low per capita income
Option 2: welfare programmes
Option 3: liquidity/borrowing constraint
Option 4: high interest rate
Question : Choose the sentence with no spelling error.
Option 1: The cursor must be plased at the strat of the line.
Option 2: The cursor must be placed at the start of the line.
Option 3: The cursor must be plased at the start of the line.
Option 4: The cursur must be placed at the start of the line.
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