(1)The demand for a normal good decreases with_________________in the consumer’s income. (a)increase (b)decrease (c)constant (d)double Ans-b(decrease) (2)Short run marginal cost curve cuts the short run

(1)The______________balance is equal to capital flows from the rest of the world, minus capital flows to the rest of the world. (a)Current account (b)Saving Account (c)Capital

(1)India’s first official census operation was undertaken in which year? (a)1841 (b)1881 (c)1921 (d)1961 Ans-b(1881) (2)The change in the optimal quantity of a good when

(1)In________________the short-run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition. (a)Monopsony (b)Monopoly (c)Oligopoly (d)Monopolistic Competition Ans-d(Monopolistic Competition) (2)The average product

(1)The marginal product curve is inverse_______________shaped. (a)X (b)W (c)V (d)U Ans-d(U) (2)Goods which are consumed together are called? (a)Inferior goods (b)Normal goods (c)Complementary goods (d)Substitute