GATE (Graduate Aptitude Test in Engineering) Economics: Questions 946 - 951 of 1256

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Question 946

Question

MCQ▾

What is the power of the test?

Choices

Choice (4)Response

a.

1-α

b.

β

c.

1 + β

d.

1-β

Question 947

Question

MCQ▾

The Ease of doing business is an index that measures a country՚s performance based which of the following criteria?

Choices

Choice (4)Response

a.

FDI

b.

Minimum wage rate

c.

Property registration

d.

Question does not provide sufficient data or is vague

Question 948

Marshallian and Hicksian Demand Functions

Question

MCQ▾

The Hicksian theory of demand analysis was expounded by

Choices

Choice (4)Response

a.

Walrus and Ragnar Frisch

b.

Jevons, Walrus and Marshal

c.

Marshal and Lewis

d.

Edgeworth, Slutsky and Pareto

Question 949

General Equilibrium Analysis

Question

MCQ▾

A social welfare function possesses which of the following features?

Choices

Choice (4)Response

a.

Increasing function of individual utilities

b.

Ranks allocations according to individual preferences

c.

Both a. and b. are correct

d.

Question does not provide sufficient data or is vague

Question 950

The Cobweb Model, Decision Making under Uncertainty and Risk

Question

MCQ▾

Determine the conditions that identify the risk loving behaviour of an economic agent

Choices

Choice (4)Response

a.

Convex utility function

b.

c.

As wealth increase, slope becomes steeper

d.

All a., b. and c. are correct

Question 951

Index Numbers and Construction of Price Indices

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

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