If the marginal utility of good X exceeds that of good Y, this implies that
A rational consumer will buy less of X
Consuming more of X will increase total utility
Y is an inferior good
X will be cheaper than Y
Correct answer is B
No explanation has been provided for this answer.
The range of the data 14,13,15,18,20,35 and 13 is
20
22
13
18
Correct answer is B
No explanation has been provided for this answer.
An important determinant of price elasticity of demand is
The state of technology
The prices of other commodities
The ease of substitution
Government policy
Correct answer is A
No explanation has been provided for this answer.
The burden of a government tax on a commodity whose demand is inelastic will
Be borne only by the government
Fall more heavily on consumers
Be shared equally between consumers and producers
Fall more heavily on producers
Correct answer is B
No explanation has been provided for this answer.
Maintaining the fiscal supremacy of the central government the fiscal supremacy of the central government
Evolving an acceptable wage for public servants
Evolving an acceptable revenue-sharing formula
Ensuring equity in the sharing of fiscal responsibilities
Correct answer is C
No explanation has been provided for this answer.