NET, IAS, State-SET (KSET, WBSET, MPSET, etc.), GATE, CUET, Olympiads etc.: Economics MCQs (Practice_Test 23 of 122)
Doorsteptutor material for competitive exams is prepared by world's top subject experts: get questions, notes, tests, video lectures and more- for all subjects of your exam.
- Theory of growth developed by Schumpeter gives importance to the
- need for balanced growth
- development of infrastructure
- Role managers
- role innovations
- Despite beings a high saving economy, a developing country may still NOT grown fast primarily due to
- week administrative machinery
- Illiteracy
- High population density
- high capital-output ratio
- Hick՚s neutral technical change implies that
- the unit isoquant undergoes a parallel shift upwards
- the unit isoquant undergoes a parallel shift downwards
- curvature of the unit isquant changes.
- None of the above:
- Capital deepening means
- using larger amount of labour as compared to capital
- using more of the same type of capital due to increase we number of workers.
- increase in capital per worker in already existing production.
- using more of human capital
- Which one of the following pairs of economists and doctrines they advocated, is correctly matched?
- Match Item 1: A W Lewis
- Match Item 2: ‘Big Push’ theory
- Match Item 1: A O Hirschman
- Match Item 2: Strategy of unbalanced growth
- Match Item 1: Rosenstein
- Match Item 2: Rodan; stages of economic growth
- Match Item 1: W W Rostow
- Match Item 2: Theory of development with unlimited supplies of labour
- If the marginal productivity of labour in agriculture is zero than the labour supply curve for industry as assumed by
- upward rising
- perfectly elastic
- backward banding
- perfectly elastic
- perfectly elastics
- Consider the following statements: Harrod ′ Domar growth model implies constant.
- rate of population growth
- output
- rate of saving
- capital-output ratio
- Of these statements.
- 4 alone is correct
- I qand2 are correct
- 1,2 and 3 are correct
- 1,3 and 4 are correct.
- Demonstration effect means
- effect of advertisement
- imitating effect of consumption
- effect entertainment
- effect of a experiment NOT correct?
- Which one of the statements given below the diagram NOT correct?
- M (Y) represents imports as a function of national income
- M (Y) does not pass through the origin ‘O’ because at zero national income some imports may still bought form abroad out of reserves.
- The marginal propensity to import is the slope of M (Y)
- M (Y) is a straight line indicating that expenditure increases in proportion to increase in national income.
- In word, with only two goods, X and Y, and the full employment of factors, a rise in the price of a a commodity, x, leads to
- an increase in the real reward of the factor used intensively in the production of X
- a decrease in the real reward of the factor used less intensively in the production of Y
- an increase in the real reward of the factor used less intensively in the production of X
- an increase in the real reward of the factor used more intensively in the production of Y
- Which of the following are the functions of WTO?
- to provide a forum for trade negotiations.
- to administer the WTO agreement.
- to settle the disputes among members.
- To coordinate with IMF and IBRD in the formulation of global economic policies.
- Select the correct answer using the codes given below:
- 1,2 and 3
- 1,2, 3 and r
- 1 and 3
- 2 and 4
- The infant industry argument is often advocated in the context of
- price discrimination
- product diversification
- protection
- resource mobilisation.
- Under which of the following conditions will there be the possibility of trade between tow countries whose factor endowments are identical?
- When there are differences in tastes and preferences of the consumers in the tow countries.
- when the4re are differences in commodity prices in the two countries.
- When cost of production of different commodities differs between the two countries
- When production functions of the same goods are identical in the two countries.
- A tariff will not have any effect on revenue if the duty imposed is
- 50%
- 100%
- non-prohibitie
- prohibitive
- Which one of the following statements in NOT correct in respect of the given diagram?
- identical tastes with identical factor endowments an increasing returns.
- trade with identical endowments, identical tastes an diminishing returns.
- After trade begins and producers in both countries have become aware of the possibilities of economies scale, production possibility curve at either A or B.
- trade between the two countries would enable each country to reach higher indifference curve at point P