281. Indian exports were increased during 2001-2002 and it went upto the level of:
39.8 billion dollars
28.2 billion dollars
44.0 billion dollars
45.6 billion dollars
Correct answer: (C) 44.0 billion dollars
282. The interrelation between innovations and investment opportunity was first pointed out by:
Schumpeter
Samuelson
T. R. Hicks
Torgenson
Correct answer: (D) Torgenson
283. Who has suggested the utilization of “disguised unemployment” as a source of savings potential in underdeveloped countries?
W.A Lewis
Ragnar Nurkse
Gunnar Myrdal
K.K Kurihara
Correct answer: (B) Ragnar Nurkse
284. Suppose that the MPC out of disposable income was 0.8 and the tax function for a given economy was T= -30+0.25Y. an increase in the intercept of the tax function of 10 units(from -30 to -20 would cause equilibrium income in the simple Keynesian model to fall by
-20 units
10 units
20 units
40 units
Correct answer: (C) 20 units
285. Advocates of the public-choice view argue that voting behaviour is influenced by the
Rate of inflation prior to an election.
Level of economic activity.
Favourite son syndrome.
Campaign issues
Correct answer: (B) Level of economic activity.
286. Assume that the actual deficit is $150 billion with the economy well below potential output and that the level of economic activity rose to its potential level while tax revenues increased by $50 billion and transfer payments fell by $20 billion. Then, what is the structural deficit?
$180 billion
$120 billion
$220 billion
$80 billion
Correct answer: (D) $80 billion
287. From the net tax function: T=t0+t1Y,where t0<0 and t1>0, it follows that, as income rises
average taxes falls and the surplus declines
average taxes rises and the deficit increases
average taxes falls and the deficit declines
average taxes and the deficit do not change
Correct answer: (C) average taxes falls and the deficit declines
288. The book 'Asian Drama' was written by
A.C Pigou
D.Ricardov
Gunnar Myrdal
Lionel Robbins
Correct answer: (C) Gunnar Myrdal
289. An exceptional demand curve is one that slopes
Upward to the left
Downward to the right
Horizontally
Upward to the right
Correct answer: (D) Upward to the right
290. When the demand curve is a rectangular hyperbola, it represents: