GATE (Graduate Aptitude Test in Engineering) Economics: Questions 94 - 97 of 1256

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Question 94

Marshallian and Hicksian Demand Functions

Appeared in Year: 2013 (UGC NET)

Question

MCQ▾

Which of the following is true?

  1. Indifference curves slope downward from left to right.
  2. Indifference curves slope downward from right to left.
  3. Indifference curves are convex to the point of origin of the two axes.
  4. Indifference curves never intersect each other. (Dec)

Choices

Choice (4)Response

a.

1,2 and 3 are true.

b.

1,3 and 4 are true.

c.

1 and 4 are true.

d.

2,3 and 4 are true.

Question 95

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

Which of the following pairs is not correctly matched?

Choices

Choice (4)Response

a.

Walras: Dumping conditions

b.

Taussig: Barter terms of trade

c.

Perbisch: Deteriorating terms of trade

d.

Marshal: Offer curves

Question 96

Appeared in Year: 2014 (UGC NET)

Question

MCQ▾

Meeting the needs of present generation without compromising the needs of future generation is (June)

Choices

Choice (4)Response

a.

Economic Growth

b.

Economic Development

c.

Social Development

d.

Sustainable Development

Question 97

General Equilibrium Analysis

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

The First Fundamental Theorem of Welfare Economics requires

Choices

Choice (4)Response

a.

That there be an efficient market for every commodity

b.

That the economy operate at some point on the utility possibility curve

c.

Producers and consumers to be price takers

d.

All a., b. and c. are correct

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