A consumer consuming a single commodity attains equilibrium when: MCQ with Answer and Explanation

Question

Share Report Error

A consumer consuming a single commodity attains equilibrium when:

A. MUx divided by Px equals marginal utility of money

B. Px is greater than MUx

C. MU of the commodity is zero

D. TU is rising

Answer: Option A

Solution (By JKSSB Mock Tests)

For one commodity, consumer equilibrium occurs when MUx/Px equals the marginal utility of money.

This question belongs to: Economy GK Economy Set 1

Request complete Subject PDF

Discuss this Question (0)

No comments yet. Be the first to start the discussion!

Practice More Economy Set 1 Questions

Question #1

The 'e-Pathshala' is an initiative for:

A. online banking

B. railway reservation

C. tax payment

D. digital textbooks and learning resources

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
e-Pathshala provides digital textbooks and educational resources.

This question belongs to: Economy GK Economy Set 1

Question #2

Which of the following is a feature of the Indian planning process after 2015?

A. Complete abandonment of any form of planning

B. Continuation of Five Year Plans by Planning Commission

C. Only centralised planning without state participation

D. Replacement of Planning Commission by NITI Aayog with a focus on cooperative federalism

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
In 2015, the Planning Commission was replaced by NITI Aayog, which promotes cooperative federalism, provides strategic and technical advice, and does not impose centralised Five Year Plans in the earlier form.

This question belongs to: Economy GK Economy Set 1

Question #3

The concept of 'Macroprudential Policy' aims at:

A. Only fiscal sustainability

B. Only the soundness of individual institutions

C. Only price stability

D. Limiting systemic risk and ensuring the stability of the financial system as a whole

View Answer & Solution Discuss

Get Complete Subject PDF for Economy GK

Correct Answer: Option D

Explanation:
Macroprudential policy uses regulatory and supervisory tools to mitigate systemic risk and to increase the resilience of the financial system as a whole, complementing microprudential supervision of individual institutions.

This question belongs to: Economy GK Economy Set 1

Explore All Economy Set 1 MCQs