Practice Test 34
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Read Table 3 and answer question.

At a labour input of 4, output per worker is:

Read Table 3 and answer question.

At a labour input of 2, output is:

In the table below what will be equilibrium market price?

Read the following paragraph and answer question.

John is Jacqueline’s father. Both of them are unemployed. Jacqueline, a brilliant new Ph.D in Economics, has turned down many job offers because she hopes eventually to teach at one of the top ten universities in her field. John lost his job as a shipbuilder during the recession of 1991. His plant never reopened and he has very specialized skills that are no longer in demand.

The type of unemployment John is experiencing is

Read the following paragraph and answer question.

John is Jacqueline’s father. Both of them are unemployed. Jacqueline, a brilliant new Ph.D in Economics, has turned down many job offers because she hopes eventually to teach at one of the top ten universities in her field. John lost his job as a shipbuilder during the recession of 1991. His plant never reopened and he has very specialized skills that are no longer in demand.

The type of unemployment Jacqueline is experiencing is

Question is based on Figure 1 which shows production possibilities curve (PPC) for grape juice and wine.

The PPC in the diagram reflects:

Question is based on Figure 1 which shows production possibilities curve (PPC) for grape juice and wine.

Assuming that the PPC does not shift, which of the following is true?

Question is based on Figure 1 which shows production possibilities curve (PPC) for grape juice and wine.

The opportunity cost of increasing wine production from D to E is:

India accommodates about________ percent of the world’s population.

BPO stands for ________.

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GENERAL ECONOMICS
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