AP (Advanced Placement) Macroeconomics: Questions 313 - 316 of 750

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Question 313

Appeared in Year: 2017 (NET)

Question

MCQ▾

Which amongst the following statements is correct? (November Paper II)

Choices

Choice (5)Response

a.

The minimum point of AVC and MC are at the same level of output

b.

Minimum of AVC is at larger output than the minimum of MC

c.

Minimum of AVC is at lesser output than the minimum of MC

d.

Any of the above is possible depending upon operating of the law of returns

e.

Question does not provide sufficient data or is vague

Question 314

Appeared in Year: 2017 (NET)

Question

MCQ▾

In the short run, which of the following costs must continuously decrease as output increases? (November Paper II)

Choices

Choice (5)Response

a.

Average variable cost

b.

Total fixed cost

c.

Average fixed cost

d.

Total variable cost

e.

All of the above

Question 315

Appeared in Year: 2017 (NET)

Question

MCQ▾

The production function in Input - Output Analysis propounded by W. W. Leontief has implied the value of elasticity of substitution between inputs as: (November Paper III)

Choices

Choice (5)Response

a.

Zero

b.

Constant

c.

One

d.

Infinity

e.

None of the above

Question 316

Appeared in Year: 2017 (NET)

Question

MCQ▾

In 2016, the Nobel prize in Economics was awarded for: (November Paper II)

Choices

Choice (5)Response

a.

Contributions to contract theory

b.

Analysis of trade pattern and location of economic activity

c.

Analysis of globalization

d.

Analysis of asset prices

e.

All of the above

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