Which of the following will be true for both monopoly and monopolistic competition in the short run ?
Answer:Price is greater than marginal revenue.
When the marginal cost is equal to average cost, the slope of the average cost is :
For the function Q=A ⋅ Kα ⋅ Lβ, which of the following is correct ?
Answer:Output elasticity with respect to capital is α
When an information asymmetry is observed after an agreement is obtained between individuals, it is called :
The first fundamental Theorem of Welfare Economics requires :
The Theory in which trade cycle is generated due to excess of actual over the desired investment has been given by who amongst the following ?
‘Menu costs’ in relation to inflation refers to :
Answer: Cost of altering price lists.
According to M. Friedman, Quantity Theory of Money is the theory of :
Gilt - edged market means :
Answer:Market of government securities
Which of the following is likely to be most inflationary in its impact ?
Answer: Creating new money to finance a budget deficit
“The absorption approach” of analyzing balance of payments was formulated by :
Prebisch - singer hypothesis relates to :
Answer: Terms of trade of developing countries.
Which of the following statement about the India’s balance of payments is not correct ?
Answer: The current account balance shows only the balance for the trade in goods and services combined.
Let elasticity of demand for exports for a certain country be ex and elasticity of demand for imports be em. Assume that the country devalues its currency. Its balance of payments will almost certainly show an improvement if :
Which of the following would cause Rupee to depreciate against U.S. Dollar, other things being equal ?
Answer:A fall in incomes in U.S.A.