If two goods are complements, this means that a rise in the price of one commodity will induce
A. an upward shift in demand for the other commodity
B. a rise in the price of the other commodity
C. a downward shift in demand for the other commodity
D. no shift in demand for the other commodity
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Marginal revenue, at the quantity that generates maximum total revenue and negative beyond that point, has the value of
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The characteristics of monopolistic competition due to which the point of a firm becomes zero in the long run is
A. Commodity discrimination
B. Value leadership
C. Market power
D. Free admission
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When Goods are imported for the purpose of export, it is called
A. Import
B. Export
C. Entrepot
D. Foreign Trade
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Which one of the following industrial relations approach believes in state intervention via legislation and the creation of industrial tribunals as supporting management's interest rather than ensuring a balance between the competing groups?
A. Unitary approach
B. Pluralistic approach
C. Marxist approach
D. Judiciary approach
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Which of the following feature is common to both, perfectly competitive markets and monopolistically competitive markets?
A. Firms produce homogeneous goods
B. Prices are equal to marginal
C. Long-run profits are zero
D. Prices are above marginal cost in the long run
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The firm's short-run marginal-cost curve is increasing when
A. The marginal product is increasing
B. The marginal product is decreasing
C. The total fixed cost is increasing
D. The average fixed is increasing
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Match the following.
List-I
List-II
a. Perfect competition
1. Less elastic
b. Monopoly
2. Ed = ∞ (Straight line horizontal)
c. Monopolistic competition
3. Indeterminate
d. Oligopoly
4. More elastic
A. a-4, b-3, c-2, d-1
B. a-2, b-1, c-4, d-3
C. a-3, b-1, c-4, d-2
D. a-2, b-3, c-4, d-1
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In which year was the first industrial policy proposal made?
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What is the supply curve of labour towards the industrial sector in countries whose population growth has helped in the development of their economies?
A. Elastic
B. Inelastic
C. Infinite elastic
D. Less elastic
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Assume a production function Y = Lα K1 - α (Y = output, L = labour and K = Capital) for a firm in a purely competitive market. Which one of the following would measure the share of labour in output?
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Which of the following is not a national debt?
A. Provident fund
B. Life insurance certificate
C. National savings certificate
D. Long term government bonds
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In which market the firm cannot determine the price
A. Perfect competition
B. Monopoly
C. Monopolistic competition
D. Oligopolistic
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Match the following.
List-I
List-II
a. AP × L
1. Marginal product
b. TUn - TUn - 1
2. Marginal utility
c. TPn - TPn - 1
3. Total product
A. a-1, b-2, c-3
B. a-3, b-2, c-1
C. a-2, b-3, c-1
D. a-2, b-1, c-3
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Who is called Father of Economics?
A. Max Muller
B. Karl Marx
C. Adam Smith
D. Samuelson
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Monopolistic competition means-
A. large number of producers and products are homogeneous
B. small number of producers and products are homogeneous
C. large number of producers with product differentiation
D. small number of producers with product differentiation
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The reason for slowdown in industrial development in India
A. Shortage of electricity
B. Labour unrest
C. Lack of capital
D. All of the above
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Classical conditioning is a theory of:
A. Perecption
B. Learning
C. Attitude
D. Behaviour
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Cobb-Douglas production function mainly studies
A. Capital and labour
B. Labour and entrepreneur
C. Land and labour
D. Land and capital
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Which of the following characteristics should be in an entrepreneur
A. Innovation
B. Risk bearing
C. To intiate
D. All of the above
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