1868 + Interview Questions in Economics Page 25 InterviewSolution

1201.	What type of production function is one in which only one input is increased and others are kept constant? State the behaviour of total product in this production function.
Answer» What type of production function is one in which only one input is increased and others are kept constant? State the behaviour of total product in this production function.

Discussion

1202.	If governments put a price ceiling on patented drugs, what will happen to the production of the drugs?
Answer» If governments put a price ceiling on patented drugs, what will happen to the production of the drugs?

Discussion

1203.	From a waterfall, water is falling down at the rate of 100 kg/s on the blades of turbine. If the height of the fall is 100 m, then the power delivered to the turbine is approximately equal to
Answer» From a waterfall, water is falling down at the rate of 100 kg/s on the blades of turbine. If the height of the fall is 100 m, then the power delivered to the turbine is approximately equal to

1203.

From a waterfall, water is falling down at the rate of 100 kg/s on the blades of turbine. If the height of the fall is 100 m, then the power delivered to the turbine is approximately equal to

Answer»

From a waterfall, water is falling down at the rate of 100 kg/s on the blades of turbine. If the height of the fall is 100 m, then the power delivered to the turbine is approximately equal to

Discussion

1204.	Which of the following countries followed communist model and developed at a fast rate?
Answer» Which of the following countries followed communist model and developed at a fast rate?

Discussion

1205.	Show with the help of a diagram, the effect on equilibrium price and quantity when: (i) Demand is perfectly elastic and supply decreases. (ii) Supply is perfectly inelastic and demand increases. (iii) The demand curve is perfectly elastic and the supply curve shifts outwards.
Answer» Show with the help of a diagram, the effect on equilibrium price and quantity when: (i) Demand is perfectly elastic and supply decreases. (ii) Supply is perfectly inelastic and demand increases. (iii) The demand curve is perfectly elastic and the supply curve shifts outwards.

Discussion

1206.	Which of the following are advantages of monopoly?
Answer» Which of the following are advantages of monopoly?

Discussion

1207.	What is cooperative oligopoly?
Answer» What is cooperative oligopoly?

Discussion

1208.	The study of physical phenomenon at low temperatures (below liquid nitrogen temperature) is called
Answer» The study of physical phenomenon at low temperatures (below liquid nitrogen temperature) is called

1208.

The study of physical phenomenon at low temperatures (below liquid nitrogen temperature) is called

Answer»

The study of physical phenomenon at low temperatures (below liquid nitrogen temperature) is called

Discussion

1209.	When market power is obtained through barriers to entry created by the government or a regulatory body, the market power is called ___ market power.
Answer» When market power is obtained through barriers to entry created by the government or a regulatory body, the market power is called ___ market power.

Discussion

1210.	Q16. Consider the following statements related to InvITs 1. These are government bonds issued by the government to finance infrastructure projects 2. Only individuals are allowed to invest in these instruments. Which of the above statements is/are correct?
Answer» Q16. Consider the following statements related to InvITs 1. These are government bonds issued by the government to finance infrastructure projects 2. Only individuals are allowed to invest in these instruments. Which of the above statements is/are correct?

1210.

Q16. Consider the following statements related to InvITs 1. These are government bonds issued by the government to finance infrastructure projects 2. Only individuals are allowed to invest in these instruments. Which of the above statements is/are correct?

Answer»

Q16. Consider the following statements related to InvITs

1. These are government bonds issued by the government to finance infrastructure projects

2. Only individuals are allowed to invest in these instruments.

Which of the above statements is/are correct?

Discussion

1211.	Distinguish between substitute goods and complementary goods. Give two examples of each.
Answer» Distinguish between substitute goods and complementary goods. Give two examples of each.

Discussion

1212.	What are the ways in which large firms can hurt the society?
Answer» What are the ways in which large firms can hurt the society?

Discussion

1213.	What changes should take place in TR so that (a) Marginal revenue is positive and constant and (b) Marginal revenue is positive and falling ?
Answer» What changes should take place in TR so that (a) Marginal revenue is positive and constant and (b) Marginal revenue is positive and falling ?

1213.

What changes should take place in TR so that (a) Marginal revenue is positive and constant and (b) Marginal revenue is positive and falling ?

Answer»

What changes should take place in TR so that

(a) Marginal revenue is positive and constant and

(b) Marginal revenue is positive and falling ?

Discussion

1214.	Which of these land reforms refers to fixing the maximum quantity of land an individual can hold?
Answer» Which of these land reforms refers to fixing the maximum quantity of land an individual can hold?

Discussion

1215.	Which of the following taxes is an example of Pigouvian tax?
Answer» Which of the following taxes is an example of Pigouvian tax?

Discussion

1216.	The architects of the eighth plan were:
Answer» The architects of the eighth plan were:

Discussion

1217.	Suppose the price elasticity of demand for a good is - 0.2. How will the expenditure on the good be affected if there is a 10% increase in the price of the good?
Answer» Suppose the price elasticity of demand for a good is - 0.2. How will the expenditure on the good be affected if there is a $10 %$ increase in the price of the good?

Discussion

1218.	What do you understand by "microeconomics"?
Answer» What do you understand by "microeconomics"?

Discussion

1219.	Which of the following causes global warming but is not an air pollutant?
Answer» Which of the following causes global warming but is not an air pollutant?

Discussion

1220.	Why does the problem of choice arise ?
Answer» Why does the problem of choice arise ?

Discussion

1221.	Equilibrium:
Answer» Equilibrium:

Discussion

1222.	Financial Holding Company (FHCs) in India are regulated by __________.
Answer» Financial Holding Company (FHCs) in India are regulated by __________.

Discussion

1223.	Give two examples of fixed costs.
Answer» Give two examples of fixed costs.

Discussion

1224.	The long-run average costs at the efficient scale of production for 6 firms in a market are given below. FirmLRACminA10B15C13D18E17F12 The market price fell from Rs 20 to Rs 15. As a result ________
Answer» The long-run average costs at the efficient scale of production for 6 firms in a market are given below. $\begin{matrix} F i r m & L R A C_{m i n} A & 10 B & 15 C & 13 D & 18 E & 17 F & 12 \end{matrix}$ The market price fell from Rs 20 to Rs 15. As a result ________

1224.

The long-run average costs at the efficient scale of production for 6 firms in a market are given below. FirmLRACminA10B15C13D18E17F12 The market price fell from Rs 20 to Rs 15. As a result ________

Answer»

The long-run average costs at the efficient scale of production for 6 firms in a market are given below.

$\begin{matrix} F i r m & L R A C_{m i n} A & 10 B & 15 C & 13 D & 18 E & 17 F & 12 \end{matrix}$

The market price fell from Rs 20 to Rs 15. As a result ________

Discussion

1225.	Adil sells burgers for Rs 100. The slope of his TR curve will be ___
Answer» Adil sells burgers for Rs 100. The slope of his TR curve will be ___

Discussion

1226.	___ occurs when rival firms conspire among themselves to set prices or to control production quantities rather than let the free market determine them.
Answer» ___ occurs when rival firms conspire among themselves to set prices or to control production quantities rather than let the free market determine them.

Discussion

1227.	Using appropriate schedules, briefly describe the determination of market equilibrium.
Answer» Using appropriate schedules, briefly describe the determination of market equilibrium.

Discussion

1228.	What is the name of the first successful nuclear bomb test in India?
Answer» What is the name of the first successful nuclear bomb test in India?

Discussion

1229.	What measures has the government taken to solve the problem of finance and marketing in the small scale sector?
Answer» What measures has the government taken to solve the problem of finance and marketing in the small scale sector?

Discussion

1230.	An increase in the price of mutton provides information which:
Answer» An increase in the price of mutton provides information which:

Discussion

1231.	In which of the following industries did the second plan focus on?
Answer» In which of the following industries did the second plan focus on?

Discussion

1232.	Explain the law of demand and the reasons behind it.
Answer» Explain the law of demand and the reasons behind it.

Discussion

1233.	Why is an indifference curve convex towards the origin? Explain.
Answer» Why is an indifference curve convex towards the origin? Explain.

Discussion

1234.	Development of rural marketing relates to
Answer» Development of rural marketing relates to

Discussion

1235.	What is "normative economics" ?
Answer» What is "normative economics" ?

Discussion

1236.	Suppose the price elasticity of demand for a good is - 0.2. If there is a 5% increase in the price of the good, by what percentage will the demand for the good go down?
Answer» Suppose the price elasticity of demand for a good is - 0.2. If there is a $5 %$ increase in the price of the good, by what percentage will the demand for the good go down?

Discussion

1237.	What was the early socio-political advantages of the US settlers?
Answer» What was the early socio-political advantages of the US settlers?

Discussion

1238.	Approximately, what percentage of the rural households in India do not have an electrical connection?
Answer» Approximately, what percentage of the rural households in India do not have an electrical connection?

Discussion

1239.	Q2. Which of the following steps have been taken by government to attract foreign investment? 1. Establishing Special Economic Zones (SEZs) 2. Making labour laws flexible 3. Curbing trade barriers 4. Granting compulsory licensing
Answer» Q2. Which of the following steps have been taken by government to attract foreign investment? 1. Establishing Special Economic Zones (SEZs) 2. Making labour laws flexible 3. Curbing trade barriers 4. Granting compulsory licensing

1239.

Q2. Which of the following steps have been taken by government to attract foreign investment? 1. Establishing Special Economic Zones (SEZs) 2. Making labour laws flexible 3. Curbing trade barriers 4. Granting compulsory licensing

Answer»

Q2. Which of the following steps have been taken by government to attract foreign investment?

1. Establishing Special Economic Zones (SEZs)

2. Making labour laws flexible

3. Curbing trade barriers

4. Granting compulsory licensing

Discussion

1240.	State any two central problems under 'problem of allocation of resources'.
Answer» State any two central problems under 'problem of allocation of resources'.

Discussion

1241.	Which of the following is an example of an intermediate product?
Answer» Which of the following is an example of an intermediate product?

Discussion

1242.	Name the retail organisation where the same type of commodities is sold at uniform prices all over the country.
Answer» Name the retail organisation where the same type of commodities is sold at uniform prices all over the country.

Discussion

1243.	Split each of the following compound statement into simple sentences and determine whether it is true or false. (i) The grass is green and the sky is blue. (ii) Agra is in Uttar Pradesh and Shimla is in Punjab. (iii) All rational numbers are real and all real numbers are not complex numbers. (iv) x=5 and x=2 are the roots of the equation 3x2−x−10=0.
Answer» Split each of the following compound statement into simple sentences and determine whether it is true or false. (i) The grass is green and the sky is blue. (ii) Agra is in Uttar Pradesh and Shimla is in Punjab. (iii) All rational numbers are real and all real numbers are not complex numbers. (iv) $x = 5$ and $x = 2$ are the roots of the equation $3 x^{2} - x - 10 = 0.$

1243.

Split each of the following compound statement into simple sentences and determine whether it is true or false. (i) The grass is green and the sky is blue. (ii) Agra is in Uttar Pradesh and Shimla is in Punjab. (iii) All rational numbers are real and all real numbers are not complex numbers. (iv) x=5 and x=2 are the roots of the equation 3x2−x−10=0.

Answer»

Split each of the following compound statement into simple sentences and determine whether it is true or false.

(i) The grass is green and the sky is blue.

(ii) Agra is in Uttar Pradesh and Shimla is in Punjab.

(iii) All rational numbers are real and all real numbers are not complex numbers.

(iv) $x = 5$ and $x = 2$ are the roots of the equation $3 x^{2} - x - 10 = 0.$

Discussion

1244.	Q79. Which of the following indicators are not considered to calculate Multidimensional Poverty Index (MPI): 1. Child school attendance 2. Electricity 3. Sanitation 4. Cooking fuel 5. Employment 6. Gender equality Select the correct code:
Answer» Q79. Which of the following indicators are not considered to calculate Multidimensional Poverty Index (MPI): 1. Child school attendance 2. Electricity 3. Sanitation 4. Cooking fuel 5. Employment 6. Gender equality Select the correct code:

1244.

Q79. Which of the following indicators are not considered to calculate Multidimensional Poverty Index (MPI): 1. Child school attendance 2. Electricity 3. Sanitation 4. Cooking fuel 5. Employment 6. Gender equality Select the correct code:

Answer»

Q79. Which of the following indicators are not considered to calculate Multidimensional Poverty Index (MPI):

1. Child school attendance 2. Electricity

3. Sanitation 4. Cooking fuel

5. Employment 6. Gender equality

Select the correct code:

Discussion

1245.	What do you think were the criticisms of the second Five-Year-Plan?
Answer» What do you think were the criticisms of the second Five-Year-Plan?

Discussion

1246.	Union Cabinet approved Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO).Consider the following statements: 1. India is the 1st country to give nod to the agreement that seeks to ease customs procedures to boost commerce. 2. The TFA shall enter into force for the notified members (107 countries) upon acceptance by one-third WTO Members. 3. National Committee on Trade Facilitation (NCTF) will facilitate both domestic coordination and implementation of the provisions of the Agreement. Which of the above statements are incorrect?
Answer» Union Cabinet approved Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO).Consider the following statements: 1. India is the 1st country to give nod to the agreement that seeks to ease customs procedures to boost commerce. 2. The TFA shall enter into force for the notified members (107 countries) upon acceptance by one-third WTO Members. 3. National Committee on Trade Facilitation (NCTF) will facilitate both domestic coordination and implementation of the provisions of the Agreement. Which of the above statements are incorrect?

1246.

Union Cabinet approved Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO).Consider the following statements: 1. India is the 1st country to give nod to the agreement that seeks to ease customs procedures to boost commerce. 2. The TFA shall enter into force for the notified members (107 countries) upon acceptance by one-third WTO Members. 3. National Committee on Trade Facilitation (NCTF) will facilitate both domestic coordination and implementation of the provisions of the Agreement. Which of the above statements are incorrect?

Answer»

Union Cabinet approved Trade Facilitation Agreement (TFA) of the World Trade Organization (WTO).Consider the following statements:

1. India is the 1st country to give nod to the agreement that seeks to ease customs procedures to boost commerce.

2. The TFA shall enter into force for the notified members (107 countries) upon acceptance by one-third WTO Members.

3. National Committee on Trade Facilitation (NCTF) will facilitate both domestic coordination and implementation of the provisions of the Agreement.

Which of the above statements are incorrect?

Discussion

1247.	If the demand for bread is ___________, a decrease in its price will lead to a fall in consumers’ total expenditure on bread. (1) unitary elastic (2)perfectly inelastic (3) elastic (4) inelastic
Answer» If the demand for bread is ___________, a decrease in its price will lead to a fall in consumers’ total expenditure on bread. (1) unitary elastic (2)perfectly inelastic (3) elastic (4) inelastic

1247.

If the demand for bread is ___________, a decrease in its price will lead to a fall in consumers’ total expenditure on bread. (1) unitary elastic (2)perfectly inelastic (3) elastic (4) inelastic

Answer»

If the demand for bread is ___________, a decrease in its price will lead to a fall in consumers’ total expenditure on bread.

(1) unitary elastic

(2)perfectly inelastic

(3) elastic

(4) inelastic

Discussion

1248.	Define Marginal Opportunity Cost. Explain the concept with a hypothetical numerical example.
Answer» Define Marginal Opportunity Cost. Explain the concept with a hypothetical numerical example.

Discussion

1249.	a. Arrange the following coefficients of price elasticity of demand in ascending order: -0.7, -0.3, -1.1, -0.8 b. Comment upon the degree of elasticity of demand for Good X, using the total outlay method, if the price of X falls from Rs18 per unit to Rs13 per unit and its quantity demanded rises from 50 units to 100 units.
Answer» a. Arrange the following coefficients of price elasticity of demand in ascending order: -0.7, -0.3, -1.1, -0.8 b. Comment upon the degree of elasticity of demand for Good X, using the total outlay method, if the price of X falls from Rs18 per unit to Rs13 per unit and its quantity demanded rises from 50 units to 100 units.

1249.

a. Arrange the following coefficients of price elasticity of demand in ascending order: -0.7, -0.3, -1.1, -0.8 b. Comment upon the degree of elasticity of demand for Good X, using the total outlay method, if the price of X falls from Rs18 per unit to Rs13 per unit and its quantity demanded rises from 50 units to 100 units.

Answer»

a. Arrange the following coefficients of price elasticity of demand in ascending order:

-0.7, -0.3, -1.1, -0.8

b. Comment upon the degree of elasticity of demand for Good X, using the total outlay method, if the price of X falls from Rs18 per unit to Rs13 per unit and its quantity demanded rises from 50 units to 100 units.

Discussion

1250.	A consumer buys 18 units of a good at a price of Rs. 9 per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs. 10 per unit ?
Answer» A consumer buys 18 units of a good at a price of Rs. 9 per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs. 10 per unit ?

Discussion

Explore topic-wise InterviewSolutions in .

What type of production function is one in which only one input is increased and others are kept constant? State the behaviour of total product in this production function.

If governments put a price ceiling on patented drugs, what will happen to the production of the drugs?

From a waterfall, water is falling down at the rate of 100 kg/s on the blades of turbine. If the height of the fall is 100 m, then the power delivered to the turbine is approximately equal to

Which of the following countries followed communist model and developed at a fast rate?

Show with the help of a diagram, the effect on equilibrium price and quantity when: (i) Demand is perfectly elastic and supply decreases. (ii) Supply is perfectly inelastic and demand increases. (iii) The demand curve is perfectly elastic and the supply curve shifts outwards.

Which of the following are advantages of monopoly?

What is cooperative oligopoly?

The study of physical phenomenon at low temperatures (below liquid nitrogen temperature) is called

When market power is obtained through barriers to entry created by the government or a regulatory body, the market power is called ___ market power.

Q16. Consider the following statements related to InvITs 1. These are government bonds issued by the government to finance infrastructure projects 2. Only individuals are allowed to invest in these instruments. Which of the above statements is/are correct?

Distinguish between substitute goods and complementary goods. Give two examples of each.

What are the ways in which large firms can hurt the society?

What changes should take place in TR so that (a) Marginal revenue is positive and constant and (b) Marginal revenue is positive and falling ?

Which of these land reforms refers to fixing the maximum quantity of land an individual can hold?

Which of the following taxes is an example of Pigouvian tax?

The architects of the eighth plan were:

Suppose the price elasticity of demand for a good is - 0.2. How will the expenditure on the good be affected if there is a 10% increase in the price of the good?

What do you understand by "microeconomics"?

Which of the following causes global warming but is not an air pollutant?

Why does the problem of choice arise ?

Equilibrium:

Financial Holding Company (FHCs) in India are regulated by __________.

Give two examples of fixed costs.

The long-run average costs at the efficient scale of production for 6 firms in a market are given below. FirmLRACminA10B15C13D18E17F12 The market price fell from Rs 20 to Rs 15. As a result ________

Adil sells burgers for Rs 100. The slope of his TR curve will be ___

___ occurs when rival firms conspire among themselves to set prices or to control production quantities rather than let the free market determine them.

Using appropriate schedules, briefly describe the determination of market equilibrium.

What is the name of the first successful nuclear bomb test in India?

What measures has the government taken to solve the problem of finance and marketing in the small scale sector?

An increase in the price of mutton provides information which:

In which of the following industries did the second plan focus on?

Explain the law of demand and the reasons behind it.

Why is an indifference curve convex towards the origin? Explain.

Development of rural marketing relates to

What is "normative economics" ?

Suppose the price elasticity of demand for a good is - 0.2. If there is a 5% increase in the price of the good, by what percentage will the demand for the good go down?

What was the early socio-political advantages of the US settlers?

Approximately, what percentage of the rural households in India do not have an electrical connection?

Q2. Which of the following steps have been taken by government to attract foreign investment? 1. Establishing Special Economic Zones (SEZs) 2. Making labour laws flexible 3. Curbing trade barriers 4. Granting compulsory licensing

State any two central problems under 'problem of allocation of resources'.

Which of the following is an example of an intermediate product?

Name the retail organisation where the same type of commodities is sold at uniform prices all over the country.

Q79. Which of the following indicators are not considered to calculate Multidimensional Poverty Index (MPI): 1. Child school attendance 2. Electricity 3. Sanitation 4. Cooking fuel 5. Employment 6. Gender equality Select the correct code:

What do you think were the criticisms of the second Five-Year-Plan?

If the demand for bread is ___________, a decrease in its price will lead to a fall in consumers’ total expenditure on bread. (1) unitary elastic (2)perfectly inelastic (3) elastic (4) inelastic

Define Marginal Opportunity Cost. Explain the concept with a hypothetical numerical example.

A consumer buys 18 units of a good at a price of Rs. 9 per unit. The price elasticity of demand for the good is (-) 1. How many units will the consumer buy at a price of Rs. 10 per unit ?