Economics - Study Mode
[#176] The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at the British Museum, appeared in
Correct Answer
(A) 1859
Explanation
Solution: The Critique of Political Economy, the first fruits of Karl Marx's long painstaking research at the British Museum, appeared in 1859.
[#177] Interest is paid because
Correct Answer
(A) Capital is scarce
Explanation
Solution: Interest is paid because Capital is scarce. The borrower can get additional income from borrowed capital and in easily afford to pay interest. Hence it is scarcity.
[#178] The term 'marginal' in economics means
Correct Answer
(B) Additional
Explanation
Solution: The term 'marginal' in economics means Additional. In economics, the term marginal is used to indicate the change in some benefit or cost. when an additional unit is produced. For instance, the marginal revenue is the change in. total revenue when an additional unit is produced.
[#179] In which year was the process of economic liberalization practically started in India?
Correct Answer
(B) 1991
[#180] In a free economy the national income is Y (C, I, G, X, M) means consumption, investment, government expenditure and total exports and total imports respectively
Correct Answer
(C) Y = C + I + G + (X - M)