Use Table 1 to answer question

Diminishing marginal returns starts to occur between units:

Use Table 1 to answer question

The marginal cost of the sixth unit of output is:

Use Table 1 to answer question

The average fixed cost of 2 units of output is:

Read the following figure and answer question

Unemployment or underemployment of one or more resources is illustrated by production at point:

Read the following figure and answer question

Which of the following would not move the PPF for this economy closer to point W?

Read the following figure and answer question

Which of the following represents the concept of trade-offs?

Read the following paragraph and answer question.

In 1940, Hitler’s air force bombed Rotterdam, a beautiful city in Holland. Twenty five thousand homes, 1200 factories, 69 schools and 13 hospitals were destroyed. Nearly 75,000 people became homeless and 1000 people died. 35 % of the port was gutted by the German army.

If immediately after the war, Rotterdam rebuilt its port with the help of most up to date cranes, docks and cargo handling technology. By the end of the reconstruction, ships were loading and unloading faster and at lower cost than any where in the world. It became more efficient than it was before the destruction. This means:

Read the following paragraph and answer question.

In 1940, Hitler’s air force bombed Rotterdam, a beautiful city in Holland. Twenty five thousand homes, 1200 factories, 69 schools and 13 hospitals were destroyed. Nearly 75,000 people became homeless and 1000 people died. 35 % of the port was gutted by the German army.

The above destruction would mean:

According to the Planning Commission, using Mixed Recall period (MRP) _________% people were below poverty line in 2011-12. (based on Tendulkar Committee Report)

_________ unemployment may result when some workers are temporarily out of work while changing job.