Tag: indifference curve

Questions Related to indifference curve

The Finance Bill is presented to the Parliament immediately after the presentation of the budget.

  1. True

  2. False


Correct Option: A

The __________________ presents the budget in Lok Sabha.

  1. President

  2. Speaker

  3. Prime minister

  4. Finance minister


Correct Option: D

Once the budget is prepared, it goes to the ________________ for enactment or legislation.

  1. RBI

  2. Parliament

  3. President

  4. none of the above


Correct Option: B

Indifference curves can intersect each other.

  1. True

  2. False


Correct Option: B
Explanation:

Indifference curves cannot intersect each other as it would break down the indifference curve analysis. This is because the consumer would have more than one point on the indifference curve giving him a different level of satisfaction.

Along an indifference curve utility is _______.

  1. same

  2. lesser

  3. greater

  4. none of the above


Correct Option: A

Convexity means the slope is __________.

  1. increasing

  2. decreasing

  3. constant

  4. zero


Correct Option: B

What shows all possible combinations of two goods that can be bought by the consumer?

  1. Marginal utility curve

  2. Indifference curve

  3. Budget line

  4. None of the above


Correct Option: C

At the point of consumer's equilibrium indifference curve and budget curve are __________.

  1. passing through each other

  2. intersecting

  3. tangent

  4. none of the above


Correct Option: C

The _______________ of the budget starts once the Finance and Appropriation Bills are passed.

  1. preparation

  2. enactment

  3. execution

  4. none of the above


Correct Option: C

The preparation of the budget by the Ministry of Finance, Government of India, starts in the month of _________________.

  1. January

  2. September

  3. December

  4. March


Correct Option: B