GATE (Graduate Aptitude Test in Engineering) Economics: Questions 640 - 643 of 1256

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Question 640

Question

MCQ▾

The accelerator theory of investment relates the current rate of investment to the

Choices

Choice (4)Response

a.

Current level of output

b.

Long – term rate of interest

c.

Change in the level of out put

d.

Short term rate of interest

Question 641

Question

MCQ▾

The Heckscher – Ohlin theory of trade pattern assumes

Choices

Choice (4)Response

a.

Perfect competition both in both product and factor markets

b.

Perfect competition in the factor markets but nit in the product market

c.

Perfect completion in the product market but not in the factor market s

d.

Unemployment in the factor market

Question 642

Question

MCQ▾

The GNP at market price for 1983 - 84 was ₹ 192866 crores and the GNP at factor cost was ₹ 171201 crores. The government paid at ₹ 5107 crores subsidies crores as subsidies during the year. The amount of indirect taxes in crores for the year should work out to

Choices

Choice (4)Response

a.

₹ 16558

b.

₹ 21665

c.

₹ 26772

d.

₹ 31879

Question 643

Marshallian and Hicksian Demand Functions

Question

MCQ▾

The firms in perfect competition get normal profit in long run because of:

Choices

Choice (4)Response

a.

Free Entry and Exit

b.

Large number of buyers and sellers

c.

Homogeneous Product

d.

Perfect knowledge of market

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