Question 1

'Higher the indifference curve higher will be level of satisfaction'. The statement is

Accepted Answer

A) always true 
B) always false 
C) sometimes true and sometimes false 
D) true only if price effect is positive 
A) always true 
B) always false 
C) sometimes true and sometimes false 
D) true only if price effect is positive

Question 2

Marshalian cardinal utility analysis assumes

Accepted Answer

A) marginal utility of money is zero 
B) marginal utility of money is decreasing 
C) marginal utility of money is increasing 
D) marginal utility of money is constant 
A) marginal utility of money is zero 
B) marginal utility of money is decreasing 
C) marginal utility of money is increasing 
D) marginal utility of money is constant

Question 3

Income consumption curve of an inferior commodity is

Accepted Answer

A) positively sloped 
B) backward bending 
C) downward slopping straight line 
D) showing constant income effect 
A) positively sloped 
B) backward bending 
C) downward slopping straight line 
D) showing constant income effect

Question 4

When price of a product falls, more of it is purchased because of

Accepted Answer

A) the substitution effect 
B) the income effect 
C) neither substitution effect nor income effect 
D) both the substitution and income effects 
A) the substitution effect 
B) the income effect 
C) neither substitution effect nor income effect 
D) both the substitution and income effects

'Higher the indifference curve higher will be level of satisfaction'. The statement is

Marshalian cardinal utility analysis assumes

Income consumption curve of an inferior commodity is

When price of a product falls, more of it is purchased because of

Consumer Theory and Utility

Cost Theory and Production Possibility Curve Analysis

Classical Economic Theory

Macroeconomic Theory and Models

Macroeconomic Equilibrium and Concepts

Keynesian Economics and Related Concepts

National Income and Keynesian Economics

Economics and Economic Theory

Economic Concepts and Theories

Macroeconomics and Economic Theories

Economics and Economic Methods

Economics and Social Science

Production and Costs

Demand Analysis and Utility Theory

Indifference Curves, Ordering, Wealth of Nations, and More

Economics Questions on Demand and Supply

Elasticity of Supply and Demand

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Exam 2: Indifference Curve Analysis and Consumer Theory

'Higher the indifference curve higher will be level of satisfaction'. The statement is

Marshalian cardinal utility analysis assumes

Income consumption curve of an inferior commodity is

When price of a product falls, more of it is purchased because of

Consumer Theory and Utility

Cost Theory and Production Possibility Curve Analysis

Classical Economic Theory

Macroeconomic Theory and Models

Macroeconomic Equilibrium and Concepts

Keynesian Economics and Related Concepts

National Income and Keynesian Economics

Economics and Economic Theory

Economic Concepts and Theories

Macroeconomics and Economic Theories

Economics and Economic Methods

Economics and Social Science

Production and Costs

Demand Analysis and Utility Theory

Indifference Curves, Ordering, Wealth of Nations, and More

Economics Questions on Demand and Supply

Elasticity of Supply and Demand

Filters