Suppose total revenue is rising at a constant rate as more and more units of a commodity are sold, marginal revenue would be: (choose the correct alternative). |
(a) Greater than average revenue |
(b) Equal to average revenue |
(c) Less than average revenue |
(d) Rising |
'Homogenous products' is a characteristics of: (Choose the correct alternative) |
(a) Perfect competition only |
(b) Perfect oligopoly only |
(c) Both (a) and (b) |
(d) None of the above |
There is inverse relation between price and demand for the product of a firm under : (Choose the correct alternative) |
(a) Monopoly only |
(b) Monopolistic competition only |
(c) Both under monopoly and monopolistic competition |
(d) Perfect competition only |
What is maximum price ceiling? Explain its implications. |
Or |
Explain the chain effects, if the prevailing market price is below the equilibrium price. |
Define production function. Distinguish between short run and long run production functions. |
Or |
Define cost. Distinguish between fixed and variable costs. Give one example of each. |
Explain the implication of the following in a perfectly competitive market: |
(a) Large number of buyers |
(b) Freedom of entry and exit to firms |
Or |
Explain the implications of the following in an oligopoly market: |
(a) Inter?dependence between firms |
(b) Non?price competition |
Depreciation of fixed capital assets refers to: (Choose the correct alternative) |
(a) Normal wear and tear |
(b) Foreseen obsolescene |
(c) Normal wear and tear and foreseen obsolescene |
(d) Unforeseen obsolescence |
Fiscal deficit equals: (Choose the correct alternative) |
(a) Interest Payments |
(b) Borrowings |
(c) Interest payments less borrowing |
(d) Borrowings less interest payments |
Foreign exchange transactions dependent on other foreign exchange transactions are called: (choose the correct alternative) |
(a) Current account transactons |
(b) Capital account transactions |
(c) Autonomous transactions |
(d) Accomodating transaction |
Find net value added at factor cost: | ||
(Rs. Lakh) | ||
(i) | Durable use producer goods with a life span of 10 years | 10 |
(ii) | Single use producer goods | 5 |
(iii) | Sales | 20 |
(iv) | Unsold output produced during the year | 2 |
(v) | Taxes on production | 1 |
Distinguish between marginal propensity to consume and average propensity to consume. Give a numerical example. |
Or |
Explain the role of taxation in reducing excess demand. |
(a) In which sub 'account and on which side of balance of payments account will foreign investments in Indian be recorded' Give reasons. |
(b) What will be the effect of foreign investment in India on exchange rate? Explain. |
Find national income: | ||
(Rs. Crores) | ||
(i) | Wages and salaries | 1000 |
(ii) | Net Current transfers to abroad | 20 |
(iii) | Net factor income paid to abroad | 10 |
(iv) | Profit | 400 |
(v) | National debt interest | 120 |
(vi) | Social security contributions by employers | 100 |
(vii) | Current transfers from government | 60 |
(viii) | National income accuring to government | 150 |
(ix) | Rent | 200 |
(x) | Interest | 300 |
(xi) | Royalty | 50 |
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