The ............. exchange rate is the price of one unit of foreign currency in terms of domestic currency.

• Artifical

• Nominal

• Fixed

• Real

............ of an input is defined as the change in output per unit of change in the input when all other inputs are held constant.

• Marginal Product

• Production function

• Total product

• Average product

The collection of all possible combinations of the goods and services that can be produced from a given amount of resources and a given stock of technological knowledge is called the ____________ of the economy.

• Resource Probability Set

• Produciton Probability Set

• Resource Possibility Set

• Production Possibility Set

If at a price, market supply is greater than market demand, we say that there is ________ in the market at that price.

• Equilibrium

• Excess Demand

• Excess Supply

• Marginal Revenue

In India the reform policies were first introduced in which year?

• 1951

• 1971

• 1991

• 2001

The ........... of a firm is a relationship between inputs and output produced by the firm.

• Marginal product

• Production function

• Total product

• Average product

A ............ deficit is financed by net capital flows from the rest of the world, thus a capital account surplus.

• Current Account

• Savings Account

• Capital Account

• Asset Account

.......... is defined as the output per unit of variable unit.

• Marginal product

• Production function

• Total product

• Average product

'Taxes on lands and buildings' is listed in the .................. list given in the Seventh Schedule in the Constitution of India.

• Union

• State

• Global

• Concurrent

The demand for a normal good increases with .......... in the consumer's income.

• increase

• decrease

• constant

• double