Home
Current Affairs January 2024

What is the correct answer?

4

The main contribution of David Ricardo is in the field of:

A. Wages of labor

B. Factor pricing

C. Theory of rent

D. Determination of the rate of interest

Correct Answer :

C. Theory of rent


Related Questions

What is the correct answer?

4

Diminishing returns occur when a firm:

A. Starts incurring losses

B. Uses more and more of one input while holding all other inputs constant

C. Does not utilize its inputs efficiently

D. Cuts down on the quantity of all inputs it uses

What is the correct answer?

4

In monopolistic competition, the firms face:

A. Horizontal demand curve

B. Vertical demand curve

C. Similar demand curve

D. Differential demand curve

What is the correct answer?

4

Regarding economic decisions, economics of uncertainty identifies:

A. No risks

B. Risks

C. Safety

D. None of the above

What is the correct answer?

4

Which of the following formulae explain the term average revenue?

A. Total units /No. of Revenues

B. Total Revenue/No. of Units

C. Marginal Revenue × Units

D. Total Units/ Price

What is the correct answer?

4

The long run total cost is attained by:

A. LMC.Q

B. AC.Q

C. LC.Q

D. LAC.Q

What is the correct answer?

4

The main contribution of Malthus is in the field of:

A. Consumption expenditure

B. Theory of population

C. Division of labor

D. Theory of demand

What is the correct answer?

4

The factors of production in perfect competition are:

A. Stagnant

B. Mobile

C. Immobile

D. Rare

What is the correct answer?

4

In the case where two commodities are good substitutes then cross elasticity will be:

A. Positive

B. Unitary

C. Negative

D. Infinite

What is the correct answer?

4

Along an isoquant, output remains same, and capital labor ratio:

A. Is also same

B. Is different

C. Is constant

D. Is zero

What is the correct answer?

4

The vertical distance between TVC and TC is equal to:

A. MC

B. AVC

C. TFC

D. AC

What is the correct answer?

4

When elasticity of demand is less than one (e<1), then following the formula MR=P[1-1/e], the MR will:

A. Positive

B. Negative

C. Zero

D. None of the above

What is the correct answer?

4

When a consumer reached at the point of saturation then marginal utility (MU) is:

A. Negative

B. One

C. Positive

D. Zero

What is the correct answer?

4

Robbins definition of economics was criticised by:

A. Alfred Marshal

B. Adam Smith

C. J.B.Clark

D. Hicks, Longe and Durbin

What is the correct answer?

4

The MC curve cuts the AVC and ATC curves:

A. At different points

B. At the falling parts of each

C. At their respective minimums

D. At the rising parts of each

What is the correct answer?

4

If X and Y are close substitutes, a fall in price of X will lead to:

A. Increase in demand for Y

B. Decrease in demand for Y

C. Increase in demand for both X and Y

D. Increase in demand for Y

What is the correct answer?

4

Identify the author of The Affluent Society?

A. Gunnar Myrdal

B. N.Kaldor

C. A.C.Pigou

D. J.K.Galbraith

What is the correct answer?

4

In long run, a firm can change:

A. Fixed factors

B. Variable factors

C. Both of them

D. None of them

What is the correct answer?

4

In case of monopoly, both AR and MR fall, but MR falls:

A. Double to that of AR

B. 1/2 to that of AR

C. 2/3 to that of AR

D. Four times to that of AR

What is the correct answer?

4

We can measure consumers surplus with the help of

A. TU curve

B. MU curve

C. Supply curve

D. None of the above

What is the correct answer?

4

Marginal cost is found with the help of changes in:

A. Total cost or total variable cost

B. Total explicit cost

C. Total fixed cost

D. Total implicit cost

What is the correct answer?

4

Human wants are:

A. Thousands

B. Few

C. Innumerable

D. Hundreds

What is the correct answer?

4

Diseconomies of management lead to:

A. Decreasing returns to scale

B. Constant returns to scale

C. Increasing returns to scale

D. maximum returns to scale

What is the correct answer?

4

In economic term water is a:

A. Free good

B. Economic good

C. Both of the above

D. None of the above

What is the correct answer?

4

At the point where the straight line from the origin is tangent to the TC curve, AC is:

A. Maximum

B. Minimum

C. Equal

D. Lower

What is the correct answer?

4

Now-a-days in real life, we are unable to fined:

A. Monopoly

B. Perfect competition

C. Imperfect competition

D. Monopolistic competition

What is the correct answer?

4

The indifference curve technique:

A. Helps in separating the income effect and the substitution effect

B. Does not help in separating the two effects

C. Mixed up the two effects

D. None of the above

What is the correct answer?

4

In cournot model firms:

A. Cannot make price adjustments

B. Can make price adjustments

C. Can adjust number of customers

D. None of the above

What is the correct answer?

4

The ordinary demand curve is also called:

A. Marshallian demand curve

B. Hicksian demand curve

C. Slutsky demand curve

D. All the above

What is the correct answer?

4

Contraction of demand means:

A. Less quantity demanded at the same price

B. Less quantity demanded at a higher price

C. Less quantity demanded at a lower price

D. None of the above

What is the correct answer?

4

Inputs or Factors of production are defined as:

A. Productive resources such as labor and capital equipment that firms use to manufacture goods and services are called inputs or factors of production

B. Unproductive resources that do not take part in production process are called inputs or factors of production

C. Firms own resources are called inputs or factors of production

D. None of the above