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Questions:

1. Industries that are extremely sensitive to the business cycle.
2. In the long run, inflation is caused by what?
3. How does monetary policy influence spending on goods and services in the short run?
4. What does it mean when inflation is generally procyclical?
5. Who propounded the 'Innovation Theory' of the trade cycle?
6. Which statement is incorrect about the trade cycle?
7. With what is managerial economics associated?
8. What is the nature of managerial economics?
9. Who defined art as a system of rules for the fulfillment of a given goal?
10. What is included in the scope of managerial economics?
11. How is a managerial economist known?
12. What category does the analysis of an industry fall under?
13. Which of the following is not a fundamental economic concept?
14. How many fundamental economic concepts were identified by Haynes, Mote, and Paul?
15. How does incremental analysis compare to marginal analysis?
16. What is the difference between total sales revenue and total explicit and implicit costs?
17. At what point is profit maximized?
18. What profit does a firm earn when its average revenue equals its average cost?
19. Who propounded the behavioral theory of the firm?
20. Who propounded the economic theory of managerial capitalism?
21. What can the marginal utility be?
22. What is the prime objective of a firm?
23. Which costs are considered 'out-of-pocket' costs?
24. Which market structure has product differentiation as an important feature?
25. Which of the following is not a determinant of a consumer's demand for a commodity?
26. What are the goods that are used directly by the people called?
27. When is a consumer in equilibrium?
28. Which utility approach is based on Alfred Marshall's theory?
29. Under marginal utility analysis, how is utility assumed?
30. What is consumer surplus?
31. Which utility approach suggests that utility is measurable and quantifiable?
32. Why do indifference curves slope downward to the right?
33. What does an indifference curve represent?
34. Why are indifference curves convex to the origin?
35. What assumption is indifference curve analysis based on?
36. What does revealed preference theory deduce?
37. What assumption does revealed preference theory make?
38. What causes the expansion and contraction of demand curves?
39. Which of the following is not a forecasting technique?
40. What factors affect demand forecasting?
41. How is demand forecasting helpful?
42. Which of the following is not a method of demand forecasting for new products?
43. Which forecasting technique analyzes subjective inputs obtained from various sources?
44. What approach is used for forecasting the demand of new products?
45. Which of the following is not part of the quantitative approach for forecasting?
46. What is the Delphi method used for?
47. What function shows the overall output generated at a given level of input?
48. Why does the LAC curve fall as output expands?
49. What are isoquants equal to?
50. When is the marginal product curve above the average product curve?
51. How can increasing returns to scale be explained?
52. At equilibrium, how does an isoquant curve relate to an iso-cost line?
53. At the point of inflection, what happens to marginal product?
54. What does diminishing marginal returns imply?
55. What is true if the marginal product of labor is below the average product of labor?
56. When is the law of variable proportion valid?
57. What happens during the third stage of the law of diminishing returns?
58. Who introduced the concept of innovative entrepreneurship?
59. From where does the marginal cost curve intersect the average cost curve?
60. Which law explains short-run production function?
61. What happens in the first stage of production under the law of variable proportion?
62. What does the production function relate to?
63. How is the production function expressed?
64. Which factor of production has no reserve price?
65. When does the law of variable proportion come into existence?
66. What is social capital?
67. What requirement is essential for monopoly?
68. Which statement about monopolies is correct?
69. Which market type has only a few competing firms?
70. What is the best example of a perfectly competitive market?
71. What is the shape of the demand curve faced by a firm under perfect competition?
72. Which factor has a major influence on pricing decisions?
73. Which market structure does not have excess capacity?
74. In which market can a firm not determine price?
75. What is an example of non-price competition?
76. Which feature is associated with an oligopoly firm?
77. What defines pure oligopoly?
78. What is the cross elasticity of demand in a monopoly market?
79. What does persistent dumping refer to?
80. What does the kinked demand curve hypothesis explain in the context of oligopoly?
81. What is the practice of setting prices relatively low when introducing a new product called?
82. What is it called when a product is introduced at a high price and then its price is gradually lowered?
83. Which of the following is an example of price discrimination?
84. In which market is price discrimination possible?
85. How does a firm engaging in price discrimination behave?
86. Which market structure prominently features product differentiation?
87. Who described the trade cycle as a purely monetary phenomenon?
88. Who said that the trade cycle results from the interaction of the multiplier and accelerator?
89. What does the term trade cycle refer to?
90. Which of the following is not a feature of a trade cycle?
91. During which trade cycle phase is involuntary unemployment almost zero?
92. Which type of indicator moves simultaneously with trade cycle movements?
93. What happens at the trough of a trade cycle?
94. When does the cost of living increase in a trade cycle?
95. What is the opposite of a trough in a trade cycle?
96. At what point does pessimism end and optimism begin?
97. What effects does a high rate of investment bring?
98. What is a typical feature of falling interest rates?
99. Which one of the following is not a characteristic of a trade cycle?
100. What are the turning points of a trade cycle?