Related InterviewSolutions

• A lot of people die and many factories are washed away because of severe cyclone in a country. How will it affect the country,s PPF?
• Explain the problem of 'what to produce' with the help of an example. Does it arise in every economy? Explain.
• What will be the impact of recently launched 'Clean India Mission' (Swachh Bharat Mission) on the Production possibility Curve of the economy and why ?
• Write ‘true’ or ‘false’ with a reason:If a country is operating inside the PPC, it is saving its resources for future growth.
• Write your comment of the statement in a sentence or two: Economic activity would not exist if resources were not scarce.
• Complete the following sentence:Mixed economy is the one in which ________________.
• Write ‘true’ or ‘false’ with a reason:When output of Good-1 increases from 100 units to 110 units and output of Good-2 decreases from 400 units to 350 units, marginal opportunity cost = 50 units.
• Write your comment of the statement in a sentence or two: A point below PPC points to under utilisation of resources.
• Write ‘true’ or ‘false’ with a reason:With an efficient utilisation of resources, an economy can shift to point beyond the PPC.
• Tax rates on higher income group have been increased. Which economic value it reflects? Explain.