Bachelor of Arts in Economics (BA Economics)

Why do not the sale or purchase of used goods are not included in the GDP?

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Question:

Why do not the sale or purchase of used goods are not included in the GDP?

A.

used goods have only limited life

B.

used goods are not fresh production

C.

used goods are included in the previous gdp calculations

D.

all the above

Answer» c. used goods are included in the previous gdp calculations

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

In the long run, a perfectly competitive firm earning zero economic profits

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Question:

In the long run, a perfectly competitive firm earning zero economic profits

A.

will exit the market in search of more profitable use of its resources

B.

is earning a normal rate of return on its investments

C.

signifies that the firm is performing poorly and so should exit the market

D.

will break even

Answer» b. is earning a normal rate of return on its investments

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

The following integers were obtained as the number of visits to a gift shop, per hour, overseveral days. the mean of the above data, to 2 decimal places.

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Question:

The following integers were obtained as the number of visits to a gift shop, per hour, overseveral days. the mean of the above data, to 2 decimal places.

A.

2.80

B.

3.00

C.

2.81

D.

2.8

Answer» c. 2.81

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

A researcher finds a correlation of 0.40 between personal income and the number ofyears of college completed. Based upon this finding he can conclude that

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Question:

A researcher finds a correlation of 0.40 between personal income and the number ofyears of college completed. Based upon this finding he can conclude that

A.

a person who attended four years of college will have an annual income of rs. 40,000

B.

more years of education causes higher income

C.

personal income is a positively skewed variable

D.

more years of education are associated with higher income

Answer» d. more years of education are associated with higher income

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

If all resources used in the production of a product are increased by 20 percent andoutput increases by 20 percent, then there must be:

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Question:

If all resources used in the production of a product are increased by 20 percent andoutput increases by 20 percent, then there must be:

A.

Economies of scale.

B.

Diseconomies of scale.

C.

Constant returns to scale.

D.

Increasing average total costs.

Answer» c. Constant returns to scale.

Note: The above multiple-choice question is for all general and Competitive Exams in India.