Multiple Choice
The income effect for a commodity is
A) is always positive
B) is always negative
C) depends upon price effect
D) determines the nature of the commodity
Correct Answer:
Verified
Correct Answer:
Verified
Q1: As per indifference curve analysis consumer equilibrium
Q2: If negative income effect is greater than
Q3: According to Marshall consumer surplus is:<br>A)total utility
Q4: Which of the following statement is TRUE
Q5: Strong ordering means<br>A)absence of indifference<br>B)presence of indifference<br>C)no
Q7: Which of the following statements is true<br>A)hicksian
Q8: For a giffen good, when price falls<br>A)demand
Q9: Inferior goods are the goods with<br>A)falling income
Q10: If negative income effect is greater than
Q11: Price effect is<br>A)income effect - substitution effect<br>B)substitution