Important Questions of Economics General Awareness | Zigya

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271.

__________ says that if we keep increasing the employment of an input, with other inputs fixed, eventually a point will be reached after which the resulting addition to output (i.e., marginal product of that input) will start falling.

  • Law of diminshing marginal product

  • Law of variable proportions

  • The Short Run

  • The Long Run


272.

The ......... exchange rate is the relative price of foreign goods in terms of domestic goods.

  • Artificial

  • Nominal

  • Fixed

  • Real


273.

............ is an alternative way of representing the production function.

  • The Short Run

  • The Long Run

  • Isoquant

  • Average Product


274.

______________ scheme launched by the Central Government aims to spur social, economic and infrastructure development in rural areas by developing a cluster of 300 Smart Villages.

  • Soil Health Card

  • Shyama Prasad Mukherji Rurban Mission

  • Pradhan Mantri Fasal Bima Yojana

  • Pradhan Mantri Rojgar Yojana


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275.

In a market system, the central problems regarding how much and what to produce are solved through the coordination of economic activities brought about by ...........signals.

  • Supply

  • Demand

  • Price

  • Stock Market


276.

............ says that the marginal product of a factor input initially rises with its employment level. But after reaching a certain level of employment, it starts falling.

  • Law of diminishing marginal product

  • Law of variable proportions

  • The Short Run

  • The Long Run


277.

The closest example of a centrally planned economy is the ........... for the major part of the 20th Century.

  • USA

  • India

  • Soviet Union

  • Japan


278.

............. is the relationship between the variable input and output, keeping all other inputs are held constant.

  • Total product

  • Average product

  • Isoquant

  • The Long Run


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279.

From which of the following is the GDP of a country not derived from?

  • Agricultural sector

  • Industrial sector

  • International sector

  • Service sector


280.

............. is the set of all possible combinations of the two inputs that yield the same maximum possible level of output.

  • The Short Run

  • The Long Run

  • Isoquant

  • Average product


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