When the total fixed cost of producing 100 units is Rs. 30 and the average variable cost Rs. 3, total cost is: (Choose the correct alternative) |
(a) Rs. 3 (b) Rs. 30 |
(c) Rs. 270 (d) Rs. 330 |
When the Average Product (AP) is maximum, the Marginal Product (MP) is: (Choose the correct alternative) |
(a) Equal to AP (b) Less than AP |
(c) More than AP (d) Can be any one of the above |
Explain the central problem of 'choice of technique'. |
Or |
Explain the central problem of 'for whom to produce'. |
Given the price of a good, how will a consumer decide as to how much quantity to buy of that good? Explain. |
Or |
What is Indifference Curve? State three properties of indifference curves. |
State three characteristics of monopolistic competition. Which of the characteristics separates it from perfect competition and why? |
Or |
Explain the implications of the following: |
(a) Freedom of entry and exit of firms under perfect competition. |
(b) Non-price competition under oligopoly. |
Which of the following affects national income? (Choose the correct alternative) |
(a) Goods and Services tax (b) Corporation tax |
(c) Subsidies (d) None of the above |
The central bank can increase availability of credit by: (Choose the correct alternative). |
(a) Raising repo rate |
(b) Raising reverse repo rate |
(c) Buying government securities |
(d) Selling government securities |
Given nominal income, how can we find real income? Explain. |
Or |
Which among the following are final goods and which are intermediate goods? Given reasons. |
(a) Milk purchased by a tea stall |
(b) Bus purchased by a school |
(c) Juice purchased by a student from the school canteen |
What is meant by inflationary gap? State three measures to reduce this gap. |
Or |
What is meant by aggregate demand? State is I components. |
(a) Explain the impact of rise in exchange rate on national income. |
(b) Explain the concept of 'deficit' in balance of payments. |
Calculate (a) Net National Product at market price, and (b) Gross Domestic Product at factor cost: | ||
(Rs in crores) | ||
(i) | Rent and interest | 6,000 |
(ii) | Wages and salaries | 1,800 |
(iii) | Undistributed profit | 400 |
(iv) | Net indirect taxes | 100 |
(v) | Subsidies | 20 |
(vi) | Corporation tax | 120 |
(vii) | Net factor income to abroad | 70 |
(viii) | Dividends | 80 |
(ix) | Consumption of fixed capital | 50 |
(x) | Social security contribution by employers | 200 |
(xi) | Mixed income | 1,000 |
Explain the meaning of the following: |
(a) Revenue deficit |
(b) Fiscal deficit |
(c) Primary deficit |
Or |
Explain the following objectives of government budget: |
(a) Allocation of resources |
(b) Reducing income inequalities. |
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