The implicit change in real income resulting from the effects of a change in a commodity’s price on quantity demand?

Related Mcqs:

1. The responsiveness of the quantity demand of a commodity to change in the consumer’s income, measured by the proportionate change in quantity divided by the proportionate change in income ?

   A. Elasticity of demand B. Import substitution C. Income elasticity of demand D. None...

2. Increases in the price level resulting from an excess of demand over output at the existing price level, caused by an increase in aggregate demand ?

   A. Demand pull inflation B. Stagflation C. Both D. None...

3. An agreement among sellers of a commodity to set a common price or share their commodity market?

   A. Oligopoly B. Monopoly C. collusion D. All...

4. Other thing remain the same as price rises, the corresponding quantity supplied rises, as price falls the quantity supplied falls is___________________?

   A. Say’s law B. Keynes theory of supply C. Law of supply D. None...

5. An increase either in real output (GDP) or in real output per capita is called___________________?

   A. Economic development B. Economic growth C. Growth rate D. Economic efficiency...

6. The total number of people living below a specified minimum level of real income, an international poverty line, is called ?

   A. Relative poor B. Real poverty C. Absolute poor D. None...

7. The demand schedule or the demand curve of all buyers of a good or service is called____________________?

   A. Market demand B. Total demand C. Both D. None...

8. Commodities whose demand varies directly with money income are called______________________?

   A. Superior or normal goods B. Complementary goods C. Substitutes D. None...

9. The study of how economies are transformed from stagnation to growth and from low income to higher income status?

   A. Econometrics B. Development economics C. Development plan D. All...

10. Income that is available to house holds for spending and saving after personal, income taxes have been deducted ?

    A. Saving B. Disposable income C. Net income D. All...