Technical progress is said to be Hicks Capital intensive if at constant capital labour ratio
MRTSLK :
(1) Remains constant
(2) Decreases
(3) Increases
(4) None of (1), (2) and (3) are relevant
Answer: (2) Decreases
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Technical progress is said to be Hicks Capital intensive if at constant capital labour ratio MRTSLK
Technical progress is said to be Hicks Capital intensive if at constant capital labour ratio
MRTSLK :
(1) Remains constant
(2) Decreases
(3) Increases
(4) None of (1), (2) and (3) are relevant
Answer: (2) Decreases
In the theory of investment decisions, the most appropriate rate of return is the one which makes the
In the theory of investment decisions, the most appropriate rate of return is the one which makes the:
(1) net present value the maximum
(2) gross present value the maximum
(3) net present value zero
(4) gross present value zero
Answer: (3) net present value zero
Correct statement of Cob-Web Model is
Correct statement of Cob-Web Model is :
(1) St=a0+b0pt
; Dt = -c0-d0pt
(2) St=a0+b0pt-1
; Dt = c0-d0pt
(3) St=a0-b0pt-1
; Dt = c0+d0pt
(4) St=a0-b0pt-1
; Dt = c0-d0pt-1
Answer: (2) St=a0+b0pt-1 ; Dt = c0-d0pt
‘Adverse selection’ arises because of
‘Adverse selection’ arises because of :
(1) Lack of information
(2) Wrong information
(3) Asymmetrical information
(4) Uncertainty of future
Answer: (3) Asymmetrical information
Shadow prices can be called
Shadow prices can be called :
(1) Imputed cost
(2) Opportunity cost
(3) both (1) and (2)
(4) Neither (1) or (2)
Answer: (3) both (1) and (2)
Walra’s general equilibrium model uses a
Walra’s general equilibrium model uses a :
(1) System of equations
(2) System of simultaneous linear equations
(3) System of simultaneous equations
(4) System of linear equations
Answer: (2) System of simulteneous linear equations
Which of the following is an inferior good ?
Which of the following is an inferior good ?
(1) Kerosine
(2) Cooking gas
(3) Electricity
(4) Chemical fertilizers
Answer: (1) Kerosine
Pareto optimality in production is gained in which of the following conditions ?
Pareto optimality in production is gained in which of the following conditions ?
1. MRTSXLK = MRTSYLK
2. MRSAXY = MRSBXY
3. MRSKXY = MRTLXY
4. MPL /PL = MPK /PK
Answer (1) MRTSXLK = MRTSYLK
Match List - I (consumer behaviour approach) with List - II (Economist with whom it is associated) and select the correct answer using the codes given below
Match List - I (consumer behaviour approach) with List - II (Economist with whom it is associated) and select the correct answer using the codes given below :
List - I List - II
(a) Cardinal Approach (i) Von Newman Morgenstein
(b) Indifference curve (ii) Alfred Marshell
(c) Revealed Preference Approach (iii) J. K. Hicks
(d) Neo-utility theory of risky choices (iv) P. A. Samuelson
Codes :
(a) (b) (c) (d)
(1) (ii) (iii) (i) (iv)
(2) (iii) (ii) (i) (iv)
(3) (ii) (iii) (iv) (i)
(4) (iii) (ii) (iv) (i)
Answer: (3) (ii) (iii) (iv) (i)
Which one of the following is the correct concept of Natural rating unemployment ?
Which one of the following is the correct concept of Natural rating unemployment ?
(1) Frictionally and structurally unemployed
(2) Frictionally and cyclically unemployed
(3) Structurally and cyclically unemployed
(4) Frictionally, cyclically and structurally unemployed
Answer: (1) Frictionally and structurally unemployed
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