Production and Indian Economy Quiz 2

To economists, the common thing between the short run and the long run is that:

• In both, capital is fixed

• In both, labor is variable

• In both, production is absent

• None of the above

The "law of Returns to scale" applies to:

• The short run, but not the long run

• The long run, but not the short run

• Both the short run and the long run

• Neither the short run nor the long run

Law of Variable proportions passes from:

• 2 stages

• 4 stages

• 1 stage

• 3 stages

Opportunity cost of an unemployed youth in the past now getting a job worth Rs. 7500/- per month is:

• Nil

• Infinite

• Rs. 7500

• Negative

The Tenth Five Year Plan duration covered the period:

• 2002-07

• 1997-2002

• 2002-2012

• None of the above

The period 2007-12 represents:

• 9th Five Year Plan

• 11th Five Year Plan

• 12th Five Year Plan

• None of the above

11th Five Year Plan targeted an increase in agricultural growth rate to:

• 10%

• 1%

• 4.5%

• 4%

In India, 92% of the consumption of water represents:

• Irrigation

• Industry

• Household

• All of the above

In India, according to the Annual Report 2009-10 of the Ministry of Agriculture, the net sown area is:

• 240.3 million hectares

• 200 million hectares

• 140.3 million hectares

• 340.3 million hectares

The 1st Five Year Plan duration covered the period:

• 1951-56

• 1947-52

• 1956-61

• None of the above