Managerial Economics Quiz - 6

1. In the traditional concept of equilibrium, a firm attains the equilibrium when the firm’s Total Revenue (T.R.) = Total Cost (T.C.).
[A]TRUE
[B]FALSE



2. India should borrow management skill from other countries but one should never borrow the use of the mechanical arts and applied sciences -
[A]TRUE
[B]FALSE



3. Inflation is a great opportunity for merchants to earn more profit.
[A]TRUE
[B]FALSE



4. Inflation is a sustained and appreciable rise in prices
[A]TRUE
[B]FALSE



5. Inflation is characterized by excess of demand.
[A]TRUE
[B]FALSE



6. Inflation reduces the purchasing power of people's income and savings.
[A]TRUE
[B]FALSE



7. Institution of private property is not an essential feature of Capitalism.
[A]TRUE
[B]FALSE



8. It is easy to estimate the amount of black money
[A]TRUE
[B]FALSE



9. J.M. Keynes presumed an economic model as a short period model in his analysis.
[A]TRUE
[B]FALSE



10. Long period supply is relatively inelastic.
[A]TRUE
[B]FALSE



11. Lower level managers need EQ most.
[A]TRUE
[B]FALSE



12. Macro economic studies are based on empirical evidence.
[A]TRUE
[B]FALSE



13. Macro-economies is a policy oriented science.
[A]TRUE
[B]FALSE



14. Marginal Cost (M.C.) is the rate of change of fixed cost.
[A]TRUE
[B]FALSE



15. Market means a particular area where buyers and sellers meet
[A]TRUE
[B]FALSE