21. Which of the following is not referring to the word economic?
A. Is scarce. B. Is limited.
C. Commands a price. D. Unlimited.
22. An increase in money income with constant price results in
A. Inward parallel shift in the budget line.
B. Outward shift in the budget line.
C. Budget line remain constant.
D. Options A and C
23. Which of the following is not concerned with macro economics?
A. Aggregate level of outputs B. General level of prices
C. Growth of real output D. Price of a commodity
24. The marginal propensity to consume is
B. Coefficient c in the equation C = 𝐶 + cYd
C. The slope of the consumption function
D. Options A, B and C
25. An industry is
A. A group of firms producing differentiated products B. A group of firms producing distinct commodities
C. A group of firms producing related goods
D. A group of firms producing unrelated goods