36. The Heckscher Ohlin approach to international trade provides important insights in –

A. Gains from trade

B. Effect of trade on production and consumption

C. Effect of trade on the incomes of production factors

D. All of the above

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Correct Answer is D

37. Broad Money (M3) constitutes currency with public plus demand deposits with banks plus time deposits with bank plus –

A. Other deposits with the RBI

B. Post office deposits

C. Government deposits with RBI

D. Bankers deposits with RBI

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Correct Answer is A

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38. When national income is calculated concerning a base year, it is called –

A. Nominal national income

B. Net national income

C. Real national income

D. Gross national income

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Correct Answer is C

39. Which of the following is known as the long-run average cost curve?

A. Learning curve

B. Envelope curve

C. Equal product curve

D. Phillips curve

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Correct Answer is B

40. Isoguants are right-angled only when –

A. Factors are perfect substitutes

B. Factors are neutral

C. Factors are perfect complements

D. Factors are scarce

Click for Answer/Explanation

Correct Answer is C

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