27th Dec Business Economics Quiz 3 – Punjab Meritorious School Preparation Portal

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Which of the following is a property of the indifference curve ?

Indifference curves are convex to the origin

Indifference curves slope downwards from left to right

No two curves can cut each other

All of the above are the properties of Indifference curves.

Which of the following cost curves in never 'U' shaped?

Average cost curve

Marginal cost curve

Average variable cost curve

Average fixed cost curve

All of the following are determinants of demand except

tastes and preferences

quantity supplied

income

price of related goods

When aggregate economic activity is increasing, the economy is said to be in

an expansion.

a contraction.

a peak

a turning point.

Which of the following statements is normative?

Large government deficits cause an economy to grow more slowly

People work harder if the wage is higher.

The unemployment rate should be less.

Printing too much money causes inflation.

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