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GK Set-1
Economics
Indian Economics
198

Indian Economics MCQ (GK Set-1) with Answers

198) Which one of the following is the basis of the comparative cost theory of David Ricardo?

Supply and demand

Labour theory of value

Benefit theory of trade

Marginal utility theory

Answer is:

Labour theory of value

Indian Economics MCQ (GK Set-1) with Answers

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Related Indian Economics MCQ (GK Set-1) with Answers

199) Which one of the following is the cause of international trade as per Heckschar Ohlin Trade Theory?

Difference in factor avail ability

Difference in costs

Difference in wants

Difference in currency system

Answer is:

Difference in factor avail ability

200) Which one of the following is matching with free trade?

Encouragement for balanced growth

Absence of tariff

Restrictions on the movement of goods

Existence of anti-dumping policy

Answer is:

Absence of tariff

201) If the slope of offer curves is constant, the terms of trade will

Become indeterminate

Become continuously favourable

Continuously become unfavourable

Become constant

Answer is:

Become constant

202) Let elasticity of demand for exports for a certain country be ex and elasticity of demand for imports be em. Assume that the country devalues its currency. Its balance of payment will almost certainly show an improvement if

ex =em=1

ex + em >l

ex + em

ex + em=1

Answer is:

ex + em >l

Indian Economics MCQ (GK Set-1) with Answers

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