GATE (Graduate Aptitude Test in Engineering) Economics: Questions 261 - 264 of 1256

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Question 261

Appeared in Year: 2013 (UGC NET)

Question

MCQ▾

Shadow price refers to (September)

Choices

Choice (4)Response

a.

Change in the value of the constraint per unit change in the objective function.

b.

Change in the value of objective function per unit change in any one of the constraints.

c.

The change in the value of the primal solution per unit change in the dual solution.

d.

All of the above

Question 262

Poverty and Inequalities -Concepts and Measurement Issues

Appeared in Year: 2013 (UGC NET)

Question

MCQ▾

According to A. K. Sen, famines occurred in India because of (September)

Choices

Choice (4)Response

a.

Shortage of food grains

b.

Lack of demand

c.

Lack of transportation

d.

Lack of proper distribution mechanism

Question 263

Theories of Inflation and Expectations Augmented Phillips Curve

Appeared in Year: 2013 (UGC NET)

Question

MCQ▾

The rational expectations hypothesis does not imply: (September)

Choices

Choice (4)Response

a.

On average the economy will be close to Long-run Average Supply (LAS) Curve.

b.

People do not make systematic errors.

c.

Macroeconomic policy changes must came as a surprise in order to have an impact on the real economy.

d.

Policy makers have better information about the economy than other economic actors.

Question 264

Appeared in Year: 2013 (UGC NET)

Question

Match List-Ⅰ List-Ⅱ▾

Match the items given in List – I with those in List – II: (Septrmber)

List-Ⅰ (Group I)List-Ⅱ (Group II)
(A)

Seventh Finance Commission

(i)

J. M. Shelat

(B)

Tenth Finance Commission

(ii)

K. Brahmananda Reddy

(C)

Third Finance Commission

(iii)

K. C. Pant

(D)

Sixth Finance Commission

(iv)

A. K. Chanda

Choices

Choice (4)Response
  • (A)
  • (B)
  • (C)
  • (D)

a.

  • (iv)
  • (iii)
  • (i)
  • (ii)

b.

  • (i)
  • (ii)
  • (iii)
  • (iv)

c.

  • (i)
  • (iii)
  • (iv)
  • (ii)

d.

  • (iv)
  • (i)
  • (iii)
  • (ii)

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