Question : Which of the following is related to Microeconomics?
Option 1: Inflation
Option 2: Aggregate Demand
Option 3: Income from Post office
Option 4: Aggregate Supply
Correct Answer: Income from Post office
Solution : Microeconomics is the study of individual units in an economy. The study of what is likely to happen (tendencies) when individuals make choices in response to changes in incentives, prices, and resources is known as microeconomics. Hence, the correct option is C.
Question : Demand-pull inflation occurs when:
Option 1: Aggregate demand exceeds aggregate supply
Option 2: Aggregate supply exceeds aggregate demand
Option 3: There is a decrease in aggregate demand
Option 4: There is a decrease in the aggregate supply
Question : The aggregate demand and aggregate supply model is used in:
Option 1: Microeconomics
Option 2: Macroeconomics
Option 3: Econometrics
Option 4: Industrial organization
Option 3: Wages and input costs increase
Option 4: The government increases taxes
Question : The concept of demand and supply is a key topic in:
Option 1: Macroeconomics
Option 2: Microeconomics
Option 3: Both microeconomics and macroeconomics
Option 4: Neither microeconomics nor macroeconomics
Question : Cost-push inflation occurs when:
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