GATE (Graduate Aptitude Test in Engineering) Economics: Questions 924 - 928 of 1256

Access detailed explanations (illustrated with images and videos) to 1256 questions. Access all new questions- tracking exam pattern and syllabus. View the complete topic-wise distribution of questions. Unlimited Access, Unlimited Time, on Unlimited Devices!

View Sample Explanation or View Features.

Rs. 500.00 -OR-

How to register? Already Subscribed?

Question 924

Marshallian and Hicksian Demand Functions

Question

MCQ▾

Identify positive affine transformation form

Choices

Choice (4)Response

a.

b.

c.

d.

Question 925

General Equilibrium Analysis

Question

MCQ▾

How is the Rawlsian social welfare function represented?

Choices

Choice (4)Response

a.

Minimax social welfare function

b.

Benthamite welfare function

c.

Weighted sum of utilities

d.

Classical utilitarian function

Question 926

Short-Run and Long-Run Analysis

Question

MCQ▾

What are Veblen goods?

Choices

Choice (4)Response

a.

Goods that need to be consumed in the same proportion

b.

When price rises, the quantity demanded also rises

c.

When income increases, the demand for the good falls

d.

Goods that are exchanged for each other at a constant rate

Question 927

Tax Reforms-Goods and Services Tax

Question

MCQ▾

Under the Peacock-Wiseman hypothesis which of the statements are true?

Choices

Choice (4)Response

a.

Increase in taxes will be result in a deadweight loss

b.

Increase in tax revenue due to economic boom will increase public expenditure

c.

A higher budgetary level can be replaced by lower tax and expenditure

d.

Increase in taxes will cause tax revenues to fall

Question 928

Question

MCQ▾

Ordinary Least Squares (OLS) estimation in the presence of heteroscedasticity would yield results that are

Choices

Choice (4)Response

a.

Inconsistent and inefficient

b.

Efficient but inconsistent

c.

Consistent and efficient

d.

Unbiased

Developed by: