# GATE (Graduate Aptitude Test in Engineering) Economics: Questions 150 - 153 of 1256

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## Question 150

Appeared in Year: 2013 (UGC NET)

### Question

MCQ▾

Assuming life cycle hypothesis let a person starts working when he is 20 years old, works until the age of 60 and expects to die at the age of 70. If this person earns, say ₹ 1.50 lac annually when he is 20 - 30 years, ₹ 2 lac annually when he is 30 - 45 years, and ₹ 3 lac annually when he is 40 - 60 years, then his life time average propensity to consume is (December)

### Choices

Choice (4)Response

a.

0.80

b.

0.90

c.

0.60

d.

0.70

## Question 151

Appeared in Year: 2014 (UGC NET)

### Question

MCQ▾

According to Game Theory, if increased advertising, raises costs more than revenues and the profits of both firms decline, we have a (June)

### Choices

Choice (4)Response

a.

Zero-sum game

b.

Positive-sum game

c.

Negative-sum game

d.

Non- zero-sum game

## Question 152

Appeared in Year: 2014 (UGC NET)

### Question

MCQ▾

A sudden shift from import tariffs to free trade may induce short-term unemployment in (June)

### Choices

Choice (4)Response

a.

Industries that neither import nor export

b.

Industries that are only exporters

c.

Import competing industries

d.

Industries that sell domestically as well as export

## Question 153

Appeared in Year: 2014 (UGC NET)

### Question

MCQ▾

In a life table which of the following does not fit? (June)

### Choices

Choice (4)Response

a.

It tells the age-specific mortality rate.

b.

Age-specific life expectancy can be estimated

c.

Age-specific birth rate can be derived from a life table.

d.

There are eight columns in a life table.

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