Q19 of 50 Page 1

Define fiscal deficit.

Fiscal deficit is the excess of total expenditure over total receipts excluding the borrowing of the government.


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9

When the price of a good rise from rs 10 to Rs 12 per unit, the producer supplies 10 percent more. Calculate price elasticity of supply.

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Define utility. Explain the diminishing law of utility.

 21

An economy is in equilibrium. Find investment expenditure.

National income = 1200


Autonomouns consumption expenditure = 150


Marginal propernsity to consumer = 0.8

 22

If nominal income is Rs 500 and the price index is 125, calculate the real income.