The negative effect of boom period arises on account of.
Low inflation
Low consumption
High inflation
Slump
Inferior goods' income-elasticity vary differently, how?
It is positive and between 0 and 1.
It is negative
It is positive and greater than 1
It is having zero elasticity.
What do you say when there is a fall in the value of a currency in terms of other currencies?
Appreciation of the currency
Depreciation of the currency
Stabilisation of the currency
Regulation of rates
Inferior goods have the following features:
High price and high quality
Low price and low quality
Small share of market
Wide variety
Match the following.Higher real GDP in case of high GDPHigher level of employment if growth is substantial and benefits are equally distributedAbsolute poverty can be reduced increase the living standardMore resources will be available to government increases consumer income
1 2 3 4
i ii iv iii
1 2 3 4 iii ii iv i
1 2 3 4 iv ii iii i
1 2 3 4 iii iv ii i
Name the type of unemployment resulting from low demand for goods and services in the economy during periods of recession.
Cyclical unemployment
Seasonal unemployment
Disguised unemployment
Frictional unemployment
Who are included in working population?
All those in the population of working age who are willing and able to work.
All those in the population who are willing but not able to work.
All those in the population whose number exceeds the required.
Working people who are in excess number.
Define deflation.
A period of fall in the average price level of goods and services
A period of increase in money supply and increase in money value
A period of high price level
A period of fluctuating price level of goods and services
How is inflation measured?
Wholesale price index
Factory level price index
Retail price index
Broker level price index
For which category of goods the income elasticity is positive and greater than 1?
Normal goods
Necessary goods
Luxury goods
Inferior goods