7 Question Challenge - 2 - 2015-16 Answers

The opportunity cost of a good is :  B) the quantity of other goods sacrificed to get another unit of that good If new firms enter a market, but demand stays the same, it can be predicted that: B) Prices are likely to fall Time series data show information : B) about different points in time over the same variable When a market is in equilibrium: D) All of the above If a price increase of good A increases the quantity demanded of good B, then good B is a: A)substitute good

Name the economist Raghuram Govind Rajan  is the current and the 23rd Governor of the Reserve Bank of India, Nobel Prize winning economist Paul A. Samuelson. Contributed to raising the general analytical and methodological level in economic science. Was awarded the Nobel prize in 1970 Congratulations to Fatema from FYBA for giving all seven answers. Good participation from Arzoo and Ibrat as well :)