Economics Quiz: Key Concepts and Theories
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Questions and Answers

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?

  • 1986
  • 1996
  • 1981
  • 1991 (correct)
  • 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?

    <p>Marginal Revenue touches Average Variable Cost at its minimum</p> Signup and view all the answers

    What is the total sum of the marginal propensity to consume and marginal propensity to save?

    <p>1</p> Signup and view all the answers

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