GATE (Graduate Aptitude Test in Engineering) Economics (XH-C1): Questions 951 - 953 of 1877
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Question 951
Question MCQ▾
If Laspeyres quantity index is less than 1, then?
Choices
Choice (4) | Response | |
---|---|---|
a. | Consumption bundle in time period t is no longer affordable | |
b. | Consumption bundle in time period b is no longer affordable | |
c. | Consumption bundle in base period b is revealed preferred to time period t. Consumer is better off in time b than t. | |
d. | Consumption bundle in t is revealed preferred to bundle in b. Consumer is better off in time t than b |
Question 952
Question Assertion-Reason▾
Assertion(Ꭺ)
Value of marginal product in perfect competition ⩾ value of marginal product in monopolistic competition.
Reason(Ꭱ)
Elasticity of demand is infinity in a perfectly competitive market; elasticity of demand is greater than 1 in monopolistic competition
Choices
Choice (4) | Response | |
---|---|---|
a. | Ꭺ is false but Ꭱ is true | |
b. | Both Ꭺ and Ꭱ are false | |
c. | Both Ꭺ and Ꭱ are true and Ꭱ is the correct explanation of Ꭺ | |
d. | Ꭺ is true but Ꭱ is false |
Question 953
Question MCQ▾
In the gravity which factors influence size and flow of bilateral trade between two countries?
Choices
Choice (4) | Response | |
---|---|---|
a. | Comparative advantage in the production of a good | |
b. | Factor endowments | |
c. | GDP of the two countries and distance between the two countries | |
d. | Absolute advantage in the production of a good |