GATE (Graduate Aptitude Test in Engineering) Economics: Questions 1065 - 1068 of 1256

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Question 1065

Question

True-False▾

Statements

  1. US has to support a large supply of dollars to act as an internationally accepted currency.

  2. There is a conflict in the short run domestic and long run objective of US trade policy resulting in trade deficit.

Choices

Choice (4)Response

a.

None of the statements is correct.

b.

Only statement Ⅰ is true.

c.

Only statement Ⅱ is true.

d.

All the statements are correct.

Question 1066

Question

MCQ▾

For an increase in the effective minimum wage to have less of an impact on employment, which of the following is correct?

1) The demand for labour is relatively inelastic

2) The demand for labour is relatively elastic

3) The demand for labour is a derived demand

Choose the correct answer from the code given below:

Choices

Choice (4)Response

a.

(1) and (2)

b.

(1) and (3)

c.

(1) only

d.

(3) only

Question 1067

General Equilibrium Analysis

Appeared in Year: 2020 (UGC NET)

Question

MCQ▾

What is the value of the equilibrium level of income for the data given below for an economy?

C =

t = 20 %

I = 100

G = 30

(September Evening Shift)

Choices

Choice (4)Response

a.

500

b.

600

c.

300

d.

400

Question 1068

Question

MCQ▾

In the Perfect competition market, there are

Options:

(i) Large no. of buyers and sellers

(ii) Small no. of sellers and buyers

(iii) Large no. of buyers only

(iv) Small no. of buyers only

Choices

Choice (4)Response

a.

(iii) only

b.

(ii) only

c.

(i) only

d.

None of the above

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