Production and Indian Economy Quiz 3

What is the Avg. Product when 1 Unit of labour is employed?

• 80

• 100

• 180

• 200

What is the marginal product of the 2nd Unit of labour?

• 95

• 195

• 295

• 80

What is the Total product of the first three units of labour?

• 295

• 95

• 195

• 275

If Optimum level of output results at end of 4th unit of labor, TP & MP shall be-

• 100 & 100 respectively

• 195 & 0 respectively

• 0 & 100 respectively

• 275 & 0 respectively

Direction of TP, AP & MP in 3rd stage of Law of variable proportions shall be-

• All the three Increasing

• TP increasing, AP & MP falling

• All the three falling

• TP & AP increasing, MP falling

The Industrial Policy Resolution, 1948, had following major feature.

• State Monopoly in Arms and ammunition, Atomic Energy , Rail Transport

• Private Monopoly in Arms and ammunition, Atomic Energy, Rail Transport

• Foreign Direct Investment

• Disinvestment

laid down the economic reforms model.

• The Industrial Policy Resolution, 1948,

• The Industrial Policy Resolution, 1991,

• The Industrial Policy Resolution, 1956,

• None of above

Disinvestment is a process of transferring the ownership of equity shares from-

• Government to a private sector.

• Private sector to Government

• Central Government to World Bank

• State governments to Central government

In year 1996-97, targeted & actual disinvestment in crores was-

• Rs. 10000 & Rs. 580

• Rs. 380 & rs. 10000

• Rs. 5000 & Rs. 580

• Rs. 5000 & Rs. 380

Generally an economy is considered under developed if

• The standard of living of people & Productivity is low.

• Agriculture is the main occupation of the people

• The production techniques are backward.

• All of the above.