Economics - Study Mode

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[#341] Which one of the following growth models includes the population growth function? I. Classical model II. Harrod-Domar model III. Neo-classical model IV. Schumpeter model

(A) I and III

(B) I, II and III

(C) I and IV

(D) II and IV

Correct Answer

(A) I and III

[#342] In the compensating variation method of measuring the substitution effect of a rise in price, the consumer is

(A) under-compensated

(B) over-compensated

(C) just-compensated

(D) unaffected

Correct Answer

(C) just-compensated

[#343] Match List-I and List-II and select the correct answer: List-I List-II a. Risk Bearing Theory of profit 1. Prof. Clark b. Dynamic Theory of profit 2. Prof. Hawley c. The innovation theory of profit 3. Prof. Knight d. Uncertainity theory of profit 4. Prof. Schumpeter

(A) a-1, b-3, c-2, d-4

(B) a-1, b-2, c-4, d-3

(C) a-4, b-1, c-2, d-3

(D) a-2, b-1, c-4, d-3

Correct Answer

(D) a-2, b-1, c-4, d-3

[#344] Match List-I and List-II List-I List-II a. Give strong orders 1. Marshall b. Cardinal analysis 2. Hicks c. Ordinal analysis 3. Slasky d. Compensatory demand curve 4. Samuelson

(A) a-4, b-3, c-2, d-1

(B) a-4, b-2, c-1, d-3

(C) a-4, b-1, c-2, d-3

(D) a-3, b-4, c-1, d-2

Correct Answer

(C) a-4, b-1, c-2, d-3

[#345] On which of the following assumptions, the theory of consumer behaviour of cardinal utility approach is NOT based?

(A) Consumer is rational

(B) Limited money income of the consumer

(C) Maximization of total satisfaction

(D) Diminishing marginal utility of money

Correct Answer

(D) Diminishing marginal utility of money