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If the demand for a good is price elastic, a fall in its price will lead to:<br>(i) A rise in sales<br>(ii) A fall in sales<br>(iii) A rise in total expenditure on the good<br>(iv) A fall in total expenditure on the good

Correct Answer: (i) and (iii) only

Good 'Y' is the substitute for good 'X' if
1. A fall in the price of good X leads to the fall in the marginal utility of good Y.
2. A fall in the price of good X leads to the fall in the quantity purchased of good Y. Select the correct answer

A cam should be designed only using uniform rise and fall within half of the cam, the remaining is dwell period, and without any dwell period in between the rise -fall periods and rise and fall periods should be same. The maximum rise in follower is 30 mm. How much the follower will rise when the follower is 120 degrees from its initial position of a cam?

A cam should be designed only using uniform rise and fall within half of the cam, the remaining is dwell period, and without any dwell period in between the rise-fall periods and rise and fall periods should be same. The maximum rise in follower is 45 mm. How much the follower will rise when the follower is 45 degrees from its initial position of a cam?

A cam should be designed only using uniform rise and fall within the second half of cam profile, the first half is dwell period, without any dwell period in between the rise and fall periods and rise and fall periods should be same. The maximum rise in follower is 45 mm. How much the follower will rise when the follower is 120 degrees from its initial position of a cam?

A cam should be designed only using uniform rise and fall within the second half of cam profile, the first half is dwell period, without any dwell period in between the rise and fall periods and rise and fall periods should be same. The maximum rise in follower is 55 mm. How much the follower will rise when the follower is 240 degrees from its initial position of a cam?

A cam should be designed only using uniform rise and fall within first half of cam profile, the remaining is dwell period, and without any dwell period in between the rise-fall periods and rise and fall periods should be same. The maximum rise in follower is 35 mm. How much the follower will rise when the follower is 240 degrees from its initial position of a cam?

Consider the following statements and choose the correct answer:
1. A direct proportionality exists between vapour pressure and the concentration of water vapour in the atmosphere
2. Relative humidity is an expression of the ratio of the actual vapour pressure of the atmosphere when saturated at the same temperature
3. A rise or fall in temperature with no change in vapour pressure will cause a drop or rise, respectively, in relative humidity
4. A rise or fall in vapour pressure with no change in temperature will be accompanied by a rise or fall, respectively, in relative humidity

Which of the following could provide an example of exceptional demand curves?
1. Demand for "Giffen goods"
2. Demand based on fears of a future rise in prices
3. Demand for second-hand clothes
4. Demand for daily newspapers
Select the right answer:

Consider the following statements.
1. The demand for necessities in inelastic.
2. Demand for luxuries is elastic.
3. A product which has several uses has an elastic demand.
Which of the statement(s) given above is/are correct?

Consider the following statements regarding the measurement of rate of inflation.
Statement I The rate of inflation is measured on the basis of price indices which are of two kinds-Wholesale Price Index (WPI) and Consumer Price Index (CPl).
Statement II A price index is a measure of the average level of prices.
Statement III Price index shows the exact price rise or fall of a single good.