In monopolistic competition, a firm is in long run equilibrium —————.

at the minimum point of the LAC curve
in the declining segment of the LAC curve
in the rising segment of the LAC curve
when price is equal to marginal cost

Increasing returns imply —————.

constant average cost
diminishing cost per unit of output
optimum use of capital and labour
external economies

The law of demand refers to —————.

price-supply relationship
price-cost relationship
price-demand relationship
price-income relationship

————— expressed the view that “Economics is neutral between end”.

Robbins
Marshall
Pigou
Adam Smith

Which of the following statements is incorrect?

The Indian road net work is one of the longest in the world
The rural road network connects around 65 percent of all weather roads
Most of the State Road Transport Corporations are running on profits
The National highways carry more than 40 percent of the total road traffic

In order to encourage investment in the country, the RBI may:

reduce CRR
increase CRR
sell securities in the open market
increase Bank rate

Nationalization of banks aimed at all of the following except:

removal of control by a few
provision of credit to big industries only
provision of adequate credit for agriculture, small industry and export units
encouragement of a new class of entrepreneur

Broad money refers to

M₁
M₂
M₃
M₄

The economic reforms have failed to:

keep fiscal deficits to the targeted levels
fully implement industrial deregulation
fully open the economy to trade
all of the above

All of the following statements except one are correct about the foreign trade policy, 2004-09. Identify the incorrect statement:

Certain thrust areas like agriculture, handlooms, handicrafts etc have been identified
Vishesh Krishiupaj Yojana has been started
‘Served from India’ scheme has been started
The entry of FDI in India has been restricted

UnAttempted

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