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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