1. Important Concepts in Micro & Macroeconomics

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Which of the following pairings does not represent a set of complementary goods?

Printers and Ink Cartridges

Tea and Sugar

Mobile Phones and SIM cards

Tea and Coffee

The Core inflation is different from the general inflation because of the following?

Core Inflation is caused by the supply Shock in certain essential commodities

Core Inflation is the sudden increase in certain items of food grains

Core Inflation is the inflation rate of a particular basket of commodities

Core Inflation is just a misnomer

If the demand and supply of a commodity increase by an equal absolute amount, what will be the effect on market price?

Increase

Decrease

Remain Stable

First decrease then increase

A rise in price of one commodity will induce a fall in demand of another commodity, then the commodities are___?

Complimentary

Supplementary

Competing

Auxiliary

Which among the following is a most suitable example of double counting in national income ?

Wages of bus and train drivers

Cotton output and cotton cloth output

Electricity output and water output

Tax receipts and earnings of inland revenue officials