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4

The Strategy of Economic Development is the work of:

A. S.Kuznets

B. H.Liebenstein

C. A.O.Hirshman

D. Alfred Marshal

Correct Answer :

C. A.O.Hirshman


Related Questions

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Which one of the following has been the most influential work of F.H.Knight?

A. Freedom and Reform

B. The Green Revolution

C. Economic Integration

D. Risk ,Uncertainty and Profit

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4

In a competitive market, price is determined primarily by:

A. Transportation costs

B. The interplay of demand and supply

C. Costs of production

D. The marginal product of labour

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4

The pay-off matrix shows:

A. Possible outcomes

B. Possible benefits

C. Possible losses

D. None of them

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4

To attain maximum profits during short-run a firm should produce the output that will:

A. Yield maximum total revenue

B. Minimize marginal cost

C. Maximize marginal cost

D. Equate marginal revenue with marginal cost

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4

The falling part of total Utility (TU) curve shows:

A. Increasing marginal utility

B. Decreasing marginal utility

C. Zero marginal utility

D. Negative marginal utility

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4

Opportunity costs are also known as:

A. Spill-over costs

B. Money costs

C. Alternative costs

D. External costs

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4

In the short-run, in which one of the following situations would a competitive seller close down (shut-down)?

A. When he cannot produce at an economic profit

B. When price falls short of average variable cost at every level of output

C. When price falls short of average fixed cost at every level of output

D. When price falls short of average total cost at every level of output

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4

Increase in demand occurs when:

A. The price falls and the demand also falls down

B. The price increases but demand falls down

C. The price increases the demand remains constant and when the price remains constant the demand goes up

D. The price remains constant but demand falls

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4

The advertisement and other selling activities:

A. Lessen the differentiation

B. Widen the differentiation

C. Does not effect the differentiation

D. All of the above

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4

Cross-demand curve shows:

A. The effect of a change in price of X on its demand

B. The effect of a change in price of X on the demand for Y

C. The effect of a change in price of Y on its demand

D. None of the above

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4

When the consumer is in equilibrium not only his income is fully spent, but the ratio of marginal utility and price is:

A. Increased

B. Equalized

C. Prominent

D. Zero

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4

The cournot model is a model of:

A. Instable equilibrium

B. Stable equilibrium

C. Constant equilibrium

D. Fluctuating equilibrium

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The isoquant approach is:

A. Classical approach

B. Keynesian approach

C. Neo-classical approach

D. Modern approach

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4

In dominant price leadership model, the small firms are like:

A. monopolistic firms

B. monopoly

C. competitive firms

D. none of the above

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An exceptional demand curve is:

A. Downward sloping

B. Upward sloping

C. Horizontal straight line

D. Vertical straight line

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4

In the case of complements, the cross demand curve slopes:

A. Downwards to the right

B. Upwards to the right

C. Backwards to the top

D. Inwards at the bottom

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4

Conditions of perfect competition ensure:

A. That each firm can influence the price

B. No single firm can influence the price

C. Any single firm can influence the supply condition in the market

D. Any single firm can influence both supply and price in the market

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4

The slope of marshallian demand curve is:

A. Upward

B. Vertical

C. Downward

D. Horizontal

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In cournot model, at equuilibrium when MC = MR, the elasticity of demand is:

A. equal to one

B. zero

C. negative

D. equal to 2

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Which of the following is not a characteristic of a perfectly competitive market?

A. There is perfect information about prices

B. All participants in the market are small relative to the size of the overall market

C. There are many buyers and sellers

D. Buyers and sellers do not know each other

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In case of monopoly:

A. MR

B. MR>AR

C. MR=AR

D. AR=0

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In the real world, some competitive firms owns specialized resources that earn a return called:

A. Economic profit

B. Rent

C. Accounting profit

D. Normal profit

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4

According to translog production function, elasticity of substitution is:

A. Greater than one

B. Less than one

C. Zero

D. Equal to one

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In the case of a giffen good, the income effect:

A. Is equal to the substitution effect

B. More than offsets the substitution effect

C. Reinforces the substitution effect

D. Only partially offsets the substitution effect

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4

The Input-Output Analysis was originated by:

A. W.W. Leontief

B. E.D.Domar

C. R.G.D.Allen

D. J.M.Keynes

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4

The general form of Cobb-Douglas production function is:

A.

B.

C.

D.

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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

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4

The demand curve slopes downwards due to:

A. Income effect(I.E)

B. Substitution effect(S.E)

C. Taste effect

D. Both a and b

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A demand curve is not related to:

A. The price of the commodity

B. The time period

C. The price of substitutes

D. Any of the above

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The supply curve for the short-run competitive firm is the same as:

A. Marginal cost curve

B. Average variable cost curve

C. That part of the marginal cost curve which equals or is greater than AVC

D. Average total cost curve