National income is
| A. | The net output of commodities and services flowing during a year from the country's productivity system in the hands of the ultimate consumers |
| B. | The net interest |
| C. | The net dividend |
| D. | The net depreciation |
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Option: A Explanation : Click on Discuss to view users comments. |
Match the following :
List-I (Theory) List-II (Relation)
(A) Say's Law of market 1. Employment
(B) Keynes's Psychological Law 2. Consumption
(C) Paradox of thrift 3. Saving
(D) Marshall 4. Population
5. Production
| A. | (A) (B) (C) (D) 1 2 3 4 |
| B. | (A) (B) (C) (D) 1 4 3 2 |
| C. | (A) (B) (C) (D) 3 2 1 4 |
| D. | (A) (B) (C) (D) 3 4 2 1 |
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Option: A Explanation : Click on Discuss to view users comments. |
Match the following :
List-I (Items) List-II (Applications)
(A) Profit 1. Sales - (VC + FC
(B) Margin of safety 2. FC + Profit/Sales - VC
(C) Sales in Rs. 3. FC + Profit/1 – VC/Sales
(D) Contribution margin per unit 4. Fixed Cost/BEP in units
5. Profit + TFC
| A. | (A) (B) (C) (D) 1 2 3 4 |
| B. | (A) (B) (C) (D) 1 5 2 4 |
| C. | (A) (B) (C) (D) 3 1 2 4 |
| D. | (A) (B) (C) (D) 3 4 2 1 |
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Option: B Explanation : Click on Discuss to view users comments. |
Under competitive conditions, the industry will be in equilibrium
| A. | When each firm is in equilibrium equating MC with MR |
| B. | When all the firms are earning only normal profits |
| C. | When firms outside have no tendency to enter the industry and those within, have no tendency to leave the industry |
| D. | When all the three conditions are fulfilled. |
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Option: D Explanation : Click on Discuss to view users comments. |
