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Economics Entrance Exam: Mock Test 37

General Equilibrium Analysis Quiz Questions and Answers PDF Download - 37

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General Equilibrium Analysis Questions and Answers PDF Download: MCQ 37

MCQ: 181

The rate as a fraction of the price paid to foreigners, equals to the reciprocal of the elasticity supply of a country's imports is called as

  1. rate of effective protection
  2. specified rate
  3. net rate
  4. nationally optimal tariff
MCQ: 182

The concept that occurs when the output increases by a larger proportion than the increase in inputs during the production process is known as

  1. Leontief paradox
  2. economies of scale
  3. increasing return to scale
  4. decreasing return to scale
MCQ: 183

A type of market structure in which a small number of firms has the large majority of market share is known as

  1. monopoly
  2. free market
  3. imperfect market
  4. oligopoly
MCQ: 184

The situation when income is less than the average income by a certain amount is known as

  1. partial poverty
  2. under poverty
  3. relative poverty
  4. absolute poverty
MCQ: 185

Tariffs are only concerned when a good or services of one's country are

  1. exported
  2. imported
  3. produce
  4. sell

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