Assertion (A): There are negative J-shaped curves and positive J-shaped curves. Reason (R): When curves move from low frequencies in lower values to their highest frequencies in the lowest class in distribution.

• a) Both A and R are true and R is the correct explanation of A.

• b) Both A and R are true but R is not the correct explanation of A.

• c) A is true but R is false.

• d) A is false but R is true

A consumer reaches equilibrium at the point where:

• a) MU is less than P

• b) MU is greater than P

• c) MU=P

• d) TU=P

Statistical enquiry means

• a) Search for knowledge with the help of statistical methods.

  
  

• b) Collection of anything

• c) Search for knowledge

• d) It is science for knowledge

Statistical calculations in classified data are based on:

• a) The class mid-points

• b) The lower class limits

• c) The actual value of observation

• d) The upper class limits

Which economic activity deals with the use of goods and services for the satisfaction of human wants?

• a) Distribution

• b) Consumption

• c) Exchange

• d) Production

Assertion (A): An economy must decide as to which technique is to be used in a given industry so that efficient production is obtained.

Reason (R): Efficient technique of production is that which uses the greatest amount of scarce resources to provide the same amount of output.

• a) Both A and R are true and R is the correct explanation of A.

• b) Both A and R are true but R is not the correct explanation of A.

• c) A is true but R is false.

• d) A is false but R is true.

Assertion (A): The equilibrium point is the point where a consumer maximizes his satisfaction.

Reason (R): Equilibrium is struck when the slope of the price line is equal to the slope of the indifference curve.

• a) Both A and R are true and R is the correct explanation of A.

  
  

• b) Both A and R are true but R is not the correct explanation of A.

  
  

• c) A is true but R is false.

• d) A is false but R is true.

Assertion (A): A distinction is bestowed on diamond jewelry etc. by society because of their being costly.

Reason (R): If their prices fall they will no longer be considered as articles of distinction and so their demand will increase.

• a) Both A and R are true and R is the correct explanation of A.

  
  

• b) Both A and R are true but R is not the correct explanation of A.

• c) A is true but R is false.

• d) A is false but R is true

Following are the method of collecting primary data except .

• a) Mailed questionnaire method

• b) Direct personal interviews

• c) Stratified sampling

• d) Information through correspondents

Which of the following points highlight the importance of statistics in economics

• a) Constructing of economic models

• b) Inter-sect oral and inter-temporal comparisons

• c)Quantitative expression of economic problems

• d) All of these