Study SimplifyStudy Simplify
NextQ72

Read the following statements carefully : Statement 1 : Constant rate of change of consumption (ΔC) with respect to change in income (ΔY), is the reason for the straight line consumption curve. Statement 2 : Marginal rate of change between consumption and income is defined as Average Propensity to Consume (APC). In the light of the given statements, choose the correct alternative from the following :

Equilibrium Condition and ApproachesStudy Simplify SpecialPYQ1MCQ
Question 71

Read the following statements : Assertion (A) and Reason (R). Choose the correct alternative from those given below : Assertion (A) : Voluntarily unemployed people are those able bodied people who are not willing to work at the prevailing wage rate. Reason (R) : There exists zero involuntary unemployment at full employment level of equilibrium. Alternatives :

71/162
Back to all questions