GATE (Graduate Aptitude Test in Engineering) Economics: Questions 503 - 505 of 1256

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Question 503

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

If the central prediction of the growth model of Solow is valid then: (November Paper II)

Choices

Choice (4)Response

a.

Per capita real GDP difference among nations will increase

b.

Per capita real GDP difference among the nations will diminish

c.

Population growth rate in rich countries will increase

d.

Economic freedom as measured by Heritage Foundation Index will decrease

Question 504

Marshallian and Hicksian Demand Functions

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

Assume that people like onions on their hamburgers. If the supply of hamburgers decreases, the demand for onions will most likely: (November Paper II)

Choices

Choice (4)Response

a.

Decrease because hamburgers and onions are complements

b.

Remain unchanged because hamburgers and onions are different goods

c.

Increase because hamburgers and onions are complements

d.

Increase because hamburgers and onions are substitutes

Question 505

Closed Economy Concepts and Measurement and Open Economy Issues

Appeared in Year: 2017 (UGC NET)

Question

Matching-Pair▾

Find the pair which does not match:

Choices

Choice (4)Response

a.

11th Plan (November Paper III)

Inclusive growth

b.

2nd Plan

Heavy industry investment

c.

3rd Plan

Balanced growth

d.

8th Plan

Basic Needs

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