Tag: government budget and economy
Questions Related to government budget and economy
The slope of the indifference curve is called __________.
L-shaped indifference curve exists in case two goods are ____________.
When indifference curve is straight downward sloping line, the two goods are _________.
If MRS was increasing, what shape will indifference curve take?
When price of substitute good Z rises, then supply of X will _______.
What is that one effect which Marshall ignored but Hicks took into account?
A straight downward sloping indifference curve implies ________.
The budget in which its tax revenue and expenditure are equal is called ____________.
Excess of total expenditure over total receipts is known as __________.
Write true or false with a reason:
Increase in income of the consumer is the only cause that leads to a parallel shift of budget line to the right.