Microeconomics-Factor Pricing [GATE (Graduate Aptitude Test in Engineering) Economics]: Questions 1 - 4 of 47

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Question 1

Factor Pricing
General Equilibrium Analysis

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

Which among the following allocation/distribution corresponds to the Rawlsian concept of equity?

Choices

Choice (4)Response

a.

Maximise the utility of the least well off people

b.

Maximise the total utility of all members of the society

c.

Market outcomes are most equitable

d.

All members of the society receive equal amount of goods

Question 2

Factor Pricing
General Equilibrium Analysis

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

In the trade cycle theory of J. R Hicks, long run equilibrium is determined by

Choices

Choice (4)Response

a.

Population

b.

Technology

c.

Autonomous Investment

d.

Question does not provide sufficient data or is vague

Question 3

Factor Pricing
General Equilibrium Analysis

Appeared in Year: 2013 (UGC NET)

Question

Match List-Ⅰ List-Ⅱ▾

Match List-I with List-II: (Dec)

List-Ⅰ (Group I)List-Ⅱ (Group II)
(A)

Offer Curves

(i)

Reciprocal demand

(B)

Lorenz Curve

(ii)

Inequalities

(C)

Kinked Demand Curve

(iii)

Sticky Price

(D)

Laffer Curves

(iv)

Public Revenue

Choices

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

a.

  • (i)
  • (ii)
  • (iii)
  • (iv)

b.

  • (i)
  • (iii)
  • (iv)
  • (ii)

c.

  • (iv)
  • (i)
  • (iii)
  • (ii)

d.

  • (ii)
  • (iii)
  • (i)
  • (iv)

Question 4

Factor Pricing
General Equilibrium Analysis

Appeared in Year: 2017 (UGC NET)

Question

MCQ▾

The First Fundamental Theorem of Welfare Economics requires

Choices

Choice (4)Response

a.

That there be an efficient market for every commodity

b.

That the economy operate at some point on the utility possibility curve

c.

Producers and consumers to be price takers

d.

All a., b. and c. are correct

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