AP (Advanced Placement) Microeconomics: Questions 171 - 174 of 398

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Question 171

Appeared in Year: 2017 (NET)

Question

MCQ▾

The production function , exhibits the returns to scale as: (January Paper-3)

Choices

Choice (5)Response

a.

Increasing

b.

Fluctuating

c.

Decreasing

d.

Constant

e.

Question does not provide sufficient data or is vague

Question 172

Appeared in Year: 2017 (NET)

Question

MCQ▾

In his theory of money, James Tobin did not agree with which of the following inferences/assumptions of the demand for money for liquidity preference enunciated by Lord Keynes?

I. Elasticity of expectations of future interest rates

II. Individuals hold either money or bonds

Of the above which are correct? Answers from the codes below:

(January Paper-3)

Choices

Choice (5)Response

a.

Only I

b.

Neither I nor II

c.

I and II

d.

Only II

e.

None of the above

Question 173

Appeared in Year: 2017 (NET)

Question

MCQ▾

Who among the following economists are associated with the concept of Quasi rent?

I. A. Marshal

II. J. Robinson

III. D. Ricardo

Answer from the code below:

(January Paper-3)

Choices

Choice (5)Response

a.

I and II

b.

Only III

c.

Only I and III

d.

None of the above

e.

Question does not provide sufficient data or is vague

Question 174

Appeared in Year: 2017 (NET)

Question

MCQ▾

Consider the following statements regarding the expansion path of a firm:

I. It shows least cost combination for producing different level of outputs.

ii. The input prices remain constant.

Of the above, which statement is/are true?

Answer from the codes given below:

(January Paper-2)

Choices

Choice (5)Response

a.

I and II are true.

b.

Only II is true.

c.

Only I is true.

d.

Neither I nor II is true.

e.

Question does not provide sufficient data or is vague

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