AP (Advanced Placement) Microeconomics: Questions 152 - 154 of 398

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Question 152

Appeared in Year: 2017 (NET)

Question

Assertion-Reason▾

Assertion(Ꭺ)

Revealed preference theory excludes the explanation of Giffen good. (November Paper II)

Reason(Ꭱ)

Revealed preference theory considers only negative income elasticity of demand

Choices

Choice (5)Response

a.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

b.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

c.

Ꭺ is true but Ꭱ is false

d.

Ꭺ is false but Ꭱ is true

e.

Both Ꭺ and Ꭱ are false

Question 153

Appeared in Year: 2017 (NET)

Question

Assertion-Reason▾

Assertion(Ꭺ)

A progressive income tax is based on equip marginal sacrifice. (January Paper-3)

Reason(Ꭱ)

Higher the income, lower will be the marginal utility of money for the taxpayers.

Choices

Choice (5)Response

a.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

b.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

c.

Ꭺ is true but Ꭱ is false

d.

Ꭺ is false but Ꭱ is true

e.

Both Ꭺ and Ꭱ are false

Question 154

Appeared in Year: 2017 (NET)

Question

MCQ▾

Concepts of concentration and displacement effect in public expenditure are attributed to

(January Paper-3)

Choices

Choice (5)Response

a.

Allen T Peacock and Jack Wiseman

b.

A R Prest and I M D Little

c.

Kenneth Arrow and Paul A Samuelson

d.

A C Pigou and J K Mehta

e.

None of the above

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