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Economics Past Questions and Answers

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Economics Questions

Question 626:

Full equilibrium under perfect competition requires that?

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A MC =MR and AC =AR
B MC = MR but AR>AC
C MR =MC =AR=AC
D TR>TC
E MR=MC

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Question 627:

Oligopoly means

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A Large number of sellers in the markets
B Single seller in the market
C Few sellers in the markets
D Few buyers in the market
E Single buyer in the market

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Question 628:

Price discrimination can be described profitably by a monopolist when the elasticity of demand for his product is

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A Elastic in both markets
B Uniltary elastic in both market
C Inelastic in both markets
D Elastic in one market and inelastic in the other
E Unitary elastic in none of the markets

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Question 629:

Demand for money for speculative purposes means?

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A Buying goods and services whose prices have risen
B Keeping money for unforseen expenditure
C Buying financial assets because of possible gains
D Buying real estate
E Keeping money for a rainy day

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Question 630:

If the Central Bank intends to increase the money supply through open market operations then it will

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A Sell securities in the open market
B Buy securities in the open market
C Issues more currency note
D Withdraw money supply from the market
E Print more demand deposit

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