GATE (Graduate Aptitude Test in Engineering) Economics: Questions 965 - 970 of 1256

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Question 965

Marshallian and Hicksian Demand Functions

Question

MCQ▾

Okun՚s law states that for every ________ point՚s growth in GNP, unemployment rate declines by ________ points every year.

Choices

Choice (4)Response

a.

and

b.

and

c.

nd

d.

and

Question 966

Question

MCQ▾

Rank the countries according to their HDI ranking in an ascending order.

I. Sri Lanka

II. India

III. Nepal

IV. Pakistan

Choices

Choice (4)Response

a.

I, III, IV, II

b.

IV, III, II, I

c.

I, II, III, IV

d.

I, III, II, IV

Question 967

Question

MCQ▾

What would constitute a zero-sum game?

Choices

Choice (4)Response

a.

b.

c.

(0,50)

d.

(50,0)

Question 968

General Equilibrium Analysis

Question

MCQ▾

What implications can be derived from the second welfare theorem?

Choices

Choice (4)Response

a.

Price has a distributive role

b.

Problem of distribution and efficiency can be separated

c.

Price has an allocative role

d.

Question does not provide sufficient data or is vague

Question 969

Monetary and Fiscal Policy Efficacy

Question

MCQ▾

Which of the possibilities is a stable equilibrium?

Choices

Choice (4)Response

a.

Stackelberg equilibrium

b.

Cournot equilibrium

c.

Question does not provide sufficient data or is vague

d.

All of the above

Question 970

Marshallian and Hicksian Demand Functions

Question

MCQ▾

According to the Walras՚ Law, the value of aggregate excess demand is

Choices

Choice (4)Response

a.

Zero only at the equilibrium price

b.

Zero at all possible choice of prices

c.

Positive at all possible choices of prices

d.

Positive only at the equilibrium price

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