Question : If the price elasticity of demand is less than one, then the demand for the goods is said to be ______.

Option 1: perfectly inelastic

Option 2: inelastic

Option 3: perfectly elastic

Option 4: unitary elastic

Question : Which of the following statements is/are correct regarding the liquidity trap?

i. It is where speculative demand for money is infinitely inelastic and the liquidity preference curve becomes perfectly elastic.
ii. It is where speculative demand for money is infinitely elastic and the liquidity preference curve becomes perfectly inelastic.
iii. It is the point where speculative demand for money is infinitely elastic and the liquidity preference curve becomes perfectly elastic.
iv. It is the point where speculative demand for money and the liquidity preference curves are not related.

Option 1: Only Statement ii is correct

Option 2: Only Statement iii is correct

Option 3: Only Statement iv is correct

Option 4: Only Statements i and ii are correct

Question : Which of the following statements is/are correct about speculative demand for money?

i. It is a Perfectly interesting elastic.
ii. It is Relatively interest-elastic.
iii. It is Perfectly interest inelastic.
iv. It is Relatively interest inelastic.

Option 1: Only iii and iv

Option 2: Only iii

Option 3: Only i and ii

Option 4: Only ii

Question : Perfectly inelastic demand is equal to:

Option 1: one

Option 2: infinite

Option 3: zero

Option 4: greater than one

Question : Kinked demand curve is a feature of 

Option 1: Monopoly .

Option 2: Oligopoly .

Option 3: Monopsony .

Option 4: Duopoly .