GATE (Graduate Aptitude Test in Engineering) Economics: Questions 551 - 553 of 1256

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Question 551

Theories of Inflation and Expectations Augmented Phillips Curve

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

Consider the following statements: (November Paper-III)

  1. Phillips curve is an inverse relationship between the rate of unemployment and the rate of inflation in an economy
  2. Engel՚s Law observes that as income rises the proportion of income spent on food falls even if the actual expenditure on food rises

Which of the above statement (s) is/are correct?

Choices

Choice (4)Response

a.

Only (b)

b.

Both (a) and (b)

c.

Only (a)

d.

Neither (a) nor (b)

Question 552

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

Which amongst the following is correct for the aggregate demand function shown in the diagram? (November Paper-III)

Aggregate Demand

(a)

(b)

(c)

(d)

Choose the answer from the code below:

Choices

Choice (4)Response

a.

(b) and (d) are correct

b.

(a) and (c) are correct

c.

(a) and (d) are correct

d.

(b) and (c) are correct

Question 553

Closed Economy Concepts and Measurement and Open Economy Issues

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

MNCs can help the developing countries to:

(a) Obtain foreign technology and innovative methods of increasing productivity

(b) Employ rural unemployed labour

(c) Finance a savings gap or balance of payments deficit

(d) Generate appropriate technology by adapting existing processes.

Choose the correct answer from the code given below: (November Paper-III)

Choices

Choice (4)Response

a.

(a) and (c) only

b.

(a) , (c) and (d) only

c.

(b) and (c) only

d.

(a) , (b) , (c) and (d)

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