A. convex
B. inverted U shaped
C. L-shaped
D. S-Shaped
Related Mcqs:
- In 2003, the UN Development Program estimated that a 1-percent LDC per capita consumption growth, with income inequality unchanging, would reduce the poverty percentage by _________ percent yearly?
A. 0
B. 2
C. 6
D. 0.5 - Suppose that the supply curve of tin is highly inelastic. If the demand curve of tin decrease and increase cyclically along the supply curve of tin, then in this market the size of the quantity fluctuation will bathe size of the price fluctuations ?
A. relatively greater than
B. relatively less than
C. the same as
D. Any of the above - Suppose that the demand curve for tin is highly inelastic. If the supply curve of tin decrease and increase cyclically along the demand curve for tin then in this market the size of the price fluctuation will be __________ the size of the quantity fluctuations?
A. relatively greater then
B. relatively less than
C. the same as
D. any of the above - The short run marginal cost curve cuts the short run total cost curve and short run average variable cost curve ?
A. At their lowest points
B. When they are declining
C. When they are increasing
D. When marginal revenue is zero - In the short run, the competitive firm’s supply curve is the portion of the marginal cost curve that lies above the average variable cost curve?
A. Upward-sloping portion of the average total cost curve
B. upward-sloping portion of the average variable cost curve
C. portion of the marginal cost curve that lies above the average total cost curve.
D. entire marginal cost curve.
E. portion of the marginal-cost curve that lies above the average variable cost curve - For a competitive firm, its short run supply curve is ______ and its long run supply curve is _____?
A. SMC, LMC
B. SMC above SAVC, LMC above LAC
C. SMC below SAVC, LMC above LAC
D. SMC below SAVC, LMC bellow LAC - Income inequality can be high in the free market and should be reduced This is an example of What ?
A. Judicial economic statement
B. Positive economic statement
C. Formative economic statement
D. Normative economic statement - The Phillips curve shows the trade-off between _____ and _____?
A. the inflation rate, interest rates
B. the inflation rate, the unemployment rate
C. interest rates, output
D. output, employment - Because of the J curve effect and partial currency pass through, a depreciation of the domestic currency tends to increase the size of a ?
A. trade surplus in the short run
B. trade surplus in the long run
C. trade deficit in the short run
D. trade deficit in the long run - If the income tax rate changes from 30% to 40% on income over Rs30,000 and a person’s income is Rs 31,000 then her marginal tax rate is ?
A. 30%
B. 10%
C. 70%
D. 40%
