Larger production of ___ goods would lead to higher production in future
A. Consumer goods
B. Capital goods
C. Agricultural goods
D. Public goods
Answer: Option B
Solution(By Examveda Team)
Larger production of Capital goods goods would lead to higher production in future. If investment in capital good increases ,in turn it further increases the production of consumer goods in the long run. So, if an economy is investing more in capital goods, it shows signs of growth in near future, an increase in GDP.The capital that is consumed by an economy or a firm in the production process is known as
A. Capital loss
B. Production cost
C. Dead-weight loss
D. Depreciation
Who propounded the opportunity cost theory of international trade?
A. Ricardo
B. Marshall
C. Heckscher & Ohlin
D. Haberler
Which among the following statement is INCORRECT?
A. On a linear demand curve, all the five forms of elasticity can be depicted
B. If two demand curves are linear and intersecting each other, then, coefficient of elasticity would be same on different demand curves at the point of intersection.
C. If two demand curves are linear and parallel to each other, then, at a particular price, the coefficient of elasticity would be different on different demand curves.
D. The price elasticity of demand is expressed in terms of relaive not absolute changes in Price and Quantity demanded.
A. Increase
B. Decrease
C. Remain the same
D. Become zero
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