Podcast
Questions and Answers
What is the term used to describe the range between the highest and lowest values in a set of observations?
What is the term used to describe the range between the highest and lowest values in a set of observations?
- Standard Deviation
- Variance
- Lorenz Ratio
- Range (correct)
In which year did India adopt its economic reforms program?
In which year did India adopt its economic reforms program?
- 1986
- 1996
- 1981
- 1991 (correct)
Disguised unemployment is most commonly found in which of the following sectors?
Disguised unemployment is most commonly found in which of the following sectors?
- Industry
- Banking
- Agriculture (correct)
- Transport
The point at which a firm decides to shut down production occurs when which two variables meet?
The point at which a firm decides to shut down production occurs when which two variables meet?
What is the total sum of the marginal propensity to consume and marginal propensity to save?
What is the total sum of the marginal propensity to consume and marginal propensity to save?
Flashcards
Range
Range
The difference between the highest and lowest values in a dataset.
Economic reforms (India)
Economic reforms (India)
A significant shift in India's economic policies, beginning in 1991.
Disguised unemployment
Disguised unemployment
A type of unemployment where people are employed but are not contributing their potential to the economy.
Shutdown point (firm)
Shutdown point (firm)
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Marginal propensity to consume (MPC) & save (MPS)
Marginal propensity to consume (MPC) & save (MPS)
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