Question : The Psychological Law of Consumption states that

Option 1: proportionate increase in consumption is less than a proportionate increase in income.

Option 2: increase in income is equal to an increase in consumption.

Option 3: increase in consumption is greater than the increase in income.

Option 4: consumption does not change with a change in income.

Question : By whom was the autonomous investment separated from induced investment? 

Option 1: Joseph Alois Schumpeter

Option 2: Thomas Robert Malthus

Option 3: Joan Robinson

Option 4: Adam Smith

Question : Collective consumption means 

Option 1: household consumption 

Option 2: individual consumption 

Option 3: self-consumption 

Option 4: consumption by the citizens of the country 

Question : ______ is the change in total utility due to the consumption of one additional unit of a commodity.

Option 1: Product Utility (PU)

Option 2: Revenue Utility (RU)

Option 3: Demand Utility (DU)

Option 4: Marginal Utility (MU)

Question : Which of these is not the correctly stated component of the expenditure method of measuring national income?

Option 1: Final investment expenditure by firms

Option 2: Final government expenditure

Option 3: Export plus import expenditure

Option 4: Final consumption expenditure by households