AP (Advanced Placement) Macroeconomics: Questions 12 - 14 of 750

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Question 12

Appeared in Year: 2014 (NET)

Question

MCQ▾

The crowding out effect is zero when (June)

Choices

Choice (5)Response

a.

IS curve is falling and LM curve is rising

b.

Money demand is perfectly interest inelastic, or investment is perfectly interest elastic

c.

There is liquidity trap, or investment is perfectly interest inelastic

d.

All of the above

e.

Question does not provide sufficient data or is vague

Question 13

Appeared in Year: 2014 (NET)

Question

MCQ▾

Which of the following tax is within the jurisdiction of Union or Central Government as enumerated in List – I of Schedule VII of the India Constitution? (June)

Choices

Choice (5)Response

a.

Taxes on luxuries, including entertainments.

b.

Taxes on goods and passengers carried by road.

c.

Taxes on Sales and purchase of newspapers and on advertisement therein.

d.

Taxes on the consumption and sale of electricity.

e.

All of the above

Question 14

Appeared in Year: 2013 (NET)

Question

Assertion-Reason▾

Assertion(Ꭺ)

The long run cost curve is L shaped rather than U shaped. (Dec)

Reason(Ꭱ)

The new technique of production of large plants reduces the total cost per unit of output in the long run.

Choices

Choice (5)Response

a.

Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ

b.

Both Ꭺ and Ꭱ are true but Ꭱ is NOT the correct explanation of Ꭺ

c.

Ꭺ is true but Ꭱ is false

d.

Ꭺ is false but Ꭱ is true

e.

Both Ꭺ and Ꭱ are false

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