Top 150+ Solved Fundamentals of Economics MCQ Questions Answer
Q. Quantity Theory of Money was explained by ___________
a. Fisher
b. Keynes
c. Crowther
d. Samuelson
Q. __________ account can be opened by business persons only.
a. Current Deposit
b. Savings Deposit
c. Fixed Deposit
d. Recurring Deposit
Q. Income minus Savings is equal to ___________
a. Consumption
b. Production
c. Investment 11
d. Demand
Q. ______ means the desire backed by the necessary purchasing power.
a. Consumption
b. Production
c. Investment
d. Demand
Q. If the proportionate change in the supply is equal to the proportionate change in price, it issaid to be _______ supply.
a. Unitary Elastic
b. Perfectly Inelastic
c. Perfectly Elastic
d. Relatively Inelastic
Q. Law of Variable Proportions was developed by _____________
a. Alfred Marshall
b. Adam Smith
c. Robbins
d. Jacob
Q. The average _________ and output have inverse functional relationship.
a. fixed cost
b. variable cost
c. marginal cost
d. total cost
Q. The rate at which the commercial banks borrow from the RBI is called as __________
a. REPO
b. PLR
c. BPLR
d. Bank Rate