Center for Development Studies (CDS) - Entrance Solutions (2012)

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Answer Key

  1. #
  2. C - Exogenous variable
  3. D - Both A and B
  4. B - Ratio of price levels in two countries
  5. A - A situation of zero output growth and rising prices
  6. C - Its sales minus its cost of intermediate inputs
  7. B - Disposable personal income
  8. C - $GDP \ deflator = \frac{Nominal \ GDP}{Real \ GDP}$
  9. B - Depreciation



  10. D - All of the above

  11. C - The long run



  12. D - Consumers' income


  13. A - Consumer surplus is equal to zero
  14. B - Larger at $P_{1}$ than at $P_{2}$
  15. B - decreasing
  16. C - Average variable cost
  17. D - Perfectly elastic at market price
  18. B - Substitution effect dominates the income effect


  19. A - Labour intensive
  20. C - Sunlight

Detailed Solutions

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