Revealed Preference Theory 1596 to 1600 Informative

This Quiz is mainly about Revealed Preference Theory.

Revealed Preference Theory MCQs

  1. The Laspeyres price index measures the cost of purchasing
    1. Period 1 quantities at period 1 prices relative to base period prices
    2. Base period quantities at period 1 price relative to base period prices
    3. Base period quantities at base period prices
    4. Period 1 quantities at period 1 prices
  2. Which of the following statement is correct with regard to the theory of revealed preference?
    1. It is inferring a consumer’s preferences from that person’s market choices
    2. It can be used to derive a consumer’s indifference curve
    3. It can be used to derive a consumer’s demand curve
    4. All of the above
  3. The Revealed Preference Theory of consumer behaviour is based on the assumption that
    1. consumers are rational
    2. the preference scale remains constant over time
    3. Both of the above
    4. None of the above
  4. Which of the following is not an assumption of the theory of revealed preference?
    1. A cardinal measure of utility
    2. Consistency
    3. Transitivity
    4. A consumer can be induced to purchase any basket of commodities if its price is made sufficiently attractive.
  5. Revealed Preference Theory was propounded by
    1. Alfred Marshall
    2. Paul Samuelson
    3. Robert Brown
    4. David Ricardo
Revealed Preference Theory

Revealed Preference Theory MCQs with Answers

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Economics 1596-1600

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1 / 5

The Laspeyres price index measures the cost of purchasing

2 / 5

Which of the following statement is correct with regard to the theory of revealed preference?

3 / 5

The Revealed Preference Theory of consumer behaviour is based on the assumption that

4 / 5

Which of the following is not an assumption of the theory of revealed preference?

5 / 5

Revealed Preference Theory was propounded by

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