1. Income elasticity of demand for an inferior good is: (a)Positive (b)Zero (c)Both (a) & (b) (d)None of these 2. Convexity means averages are ________________ than extremes: (a) Worse (b) Positive (c) Better (d)None of these 3. Sum of MPC and MPS equals: (a)2 (b)3 (c)4 (d)None of these 4. During the Liquidity Trap, LM […]
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