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Read the following statements related to the economy. I. Devaluation of a currency means fixing the value of currency in multilateral consultation with the IMF, the World Bank, and major trading partners. II. The Law of Diminishing Marginal Utility states that as you keep on consuming a commodity continuously, the satisfaction derived from each subsequent unit will keep falling. III. Since human wants are unlimited and available resources are limited, a rational consumer will try to satisfy the least urgent needs which can be met within his/her income levels. IV. Budget deficit means the difference between all receipts and all expenditure. Which of the above statements are TRUE?
Read the following statements related to the economy. I. Devaluation of a currency means fixing the value of currency in multilateral consultation with the IMF, the World Bank, and major trading partners. II. The Law of Diminishing Marginal Utility states that as you keep on consuming a commodity continuously, the satisfaction derived from each subsequent unit will keep falling. III. Since human wants are unlimited and available resources are limited, a rational consumer will try to satisfy the least urgent needs which can be met within his/her income levels. IV. Budget deficit means the difference between all receipts and all expenditure. Which of the above statements are TRUE?
Options
Correct Answer
D. II & IV
- Exam
- UCEED
- Language
- English
- Year
- 2016
- Difficulty
- 1/5
- Section
- Multiple Choice Questions (MCQ)
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