The costs which are incurred even before the production starts are called
A)
money costs
done
clear
B)
real costs
done
clear
C)
supplementary costs
done
clear
D)
None of these Not Available
done
clear
View Answer play_arrow
Unemployment is reduced due to the measures taken by the government. State its economic value in the context of production possibility frontier.
View Answer play_arrow
During long-run, production can be increased through
A)
greater application of fixed factors
done
clear
B)
greater application of variable factors
done
clear
C)
greater application of all factors
done
clear
D)
None of the above Not Available
done
clear
View Answer play_arrow
State giving reason, whether the given statement is true or false. "When Average Revenue (AR) is constant. Total Revenue (TR) will also be constant.?
View Answer play_arrow
The vision of 'Digital India', a scheme launched by the government of India, aims to transform the country into a digitally empowered society and knowledge economy. How will the production possibility curve be affected by the launch of this programme, Or A country is producing two goods: good X (labour intensive) and good Y (capital intensive). What will be the impact on the Production Possibility Curve (PPC), if there huge migration of labour to the home country from the neighbouring countries?
View Answer play_arrow
Calculate the price elasticity of demand by the percentage method when total expenditure on a commodity falls from Rs.900 to Rs.600 due to rise in price from Rs.5 to Rs.6
View Answer play_arrow
"In perfect competition, Average Revenue is equal to Marginal Revenue, but in monopoly, Average Revenue exceeds Marginal Revenue." Explain.
View Answer play_arrow
Explain any four features of perfect competition. Or Differentiate between price ceiling and price floor.
View Answer play_arrow
How will the consumer move along his indifference curve in a situation, when\[MR{{S}_{XY}}>\frac{{{P}_{X}}}{{{P}_{Y}}}\]?
View Answer play_arrow
Explain the relationship between Total Utility (TU) and Marginal Utility (MU) with the help of a diagram.
View Answer play_arrow
Explain the Law of Variable Proportions in terms of the behaviour of Total Physical Product (TPP) with the help of a diagram,
View Answer play_arrow
Explain the chain of effects leading to change in equilibrium price and quantity of an inferior good due to increase in income of its consumers. Explain the chain of effects leading to change in equilibrium price and quantity of a normal good due to increase in income of its consumers.
View Answer play_arrow
Section B Define Balance of Payments on current account.
View Answer play_arrow
What do you mean by overdraft facility?
View Answer play_arrow
Unilateral transfers are included in
A)
current account BoP
done
clear
B)
capital account BoP
done
clear
C)
Both [a] and [b]
done
clear
D)
None of these Not Available
done
clear
View Answer play_arrow
Money is most liquid of all assets because
A)
it includes shares and equities
done
clear
B)
money itself is a medium of exchange
done
clear
C)
it does not have general acceptability
done
clear
D)
it has many functions
done
clear
View Answer play_arrow
What do you mean by ex-ante savings and ex-post savings?
View Answer play_arrow
Complete the following table.
Income (Rs.)
Savings (Rs.)
MPC
APC
0
-20
-
-
50
-10
-
-
100
0
-
-
150
30
-
-
200
60
-
-
Or As a result of increase in investment by Rs. 60 crore, National Income rises by Rs. 240 crore. Calculate Marginal Propensity to Consume (MPC).
View Answer play_arrow
Explain the problems of barter system.
View Answer play_arrow
Explain any four precautions that are required to be taken care of while calculating national income by expenditure method.
or
Calculate sales from the following data.
S. No.
Items
(Rs.) in lakhs
(i)
Net Value Added at Factor Cost\[(NV{{A}_{FC}})\]
300
(ii)
Intermediate Consumption
200
(iii)
Indirect Tax
20
(iv)
Depreciation
30
(v)
Change in Stock
(-)50
View Answer play_arrow
State the components of the capital account of Balance of Payment (BoP) account.
View Answer play_arrow
While presenting the budget for the year 2016-17, the Finance Minister proposed to raise the excise duty on cigarettes. He also proposed to increase Income Tax on individuals earning more than Rs. 1 crore per annum. Is the objective only to earn revenue for the government? What possible welfare objective can you think of from these proposals? Explain. Also identify the value that government is trying to initiate by this proposal.
View Answer play_arrow
State whether the following statements are true or false. Give reason in support of your answer.
(i) The value of Average Propensity to Save (APS) can be negative. (ii) The value of Marginal Propensity to Save (MPS) can be negative. (iii) When the value of Average Propensity to Save (APS) is negative, the value of Marginal Propensity to Save (MPS) will also be negative.
View Answer play_arrow
Calculate National Income from the following data.
S. No. Contents (Rs.) in lakhs (i) Sales 800 (ii) Purchase of Raw Materials from Domestic Market 400 (iii) Import of Raw Material 100 (iv) Subsidies 30 (v) Consumption of Fixed Capital 40 (vi) Change in Stock 50 (vii) Rent 70 (viii) Net Factor Income from Abroad 10
Or Calculate Net Domestic Product at Factor Cost\[(ND{{P}_{FC}})\] by income method.
S. No. Contents (Rs.) in crores (i) Net Value Added at Market Price by Primary Sector 1,000 (ii) Wages and Salaries 2,000 (iii) Social Security Contribution by Employers 110 (iv) Net Value Added at Market Price by the Secondary Sector 600 (v) Corporation Tax 30 (vi) Retained Earnings of Private Corporations 10 (vii) Net Value Added at Market Price by the Tertiary Sector 1,400
View Answer play_arrow