Multiple Choice
The substitution effect for a commodity is
A) is always positive
B) depends upon the nature of the commodity
C) depends upon price effect
D) sometimes negative and sometimes positive
Correct Answer:
Verified
Correct Answer:
Verified
Q14: Indifference curves are<br>A)always parallel<br>B)may be parallel<br>C)may not
Q15: Which of the following statement is FALSE
Q16: If negative income effect is less than
Q17: The slope of a budget line throughout
Q18: The slope of a budget line is<br>A)the
Q19: According to Hicks substitution effect is<br>A)the movement
Q20: In the fundamental theorem of consumption and
Q21: At the point of tangency the slope
Q23: Revealed preference theory assumes<br>A)weak ordering<br>B)strong ordering<br>C)constant ordering<br>D)multiple
Q24: If both the products X & Y