Question
If the price elasticity of demand for apples
is 3, then what will be the impact on total revenue if price increases?Solution
TR decreases for goods with elastic price elasticity.
If two or more than two goods are used to satisfy the same want, they are called
An inferior good is one for which an increase in income causes a(n)
Which of the following statement is correct with respect to inflation in Indian economy?
In India what is the current base year being used for the calculation of GDP?
Which of the following should be excluded while calculating Gross national Product?
Income effect states that as price of a good falls, demand rises since there is rise in
Which of the following is not a method to calculate GDP?
Which one of the following transactions will be considered as a transfer payment?
The term ‘Gross’ is being used for Gross Domestic Product (GDP) because its computation does NOT exclude which of the following factors?
What is the name given to the difference between value of output and value added?
