MH SET 2020 Paper 2 Economics Question Paper (27-Dec-2020)

Question 1

................... utility means that an individual can attach specific values or numbers of utils from consuming each quantity of a good or basket of goods.

Accepted Answer

Cardinal

Answer

Ordinal

Answer

Marginal

Answer

Equi-marginal

Question 2

The following diagram typically represents ............... of .............. production function.

Accepted Answer

Total cost, linear

Answer

Total cost, non-linear

Answer

Total fixed cost, linear

Answer

Total fixed cost, non-linear

Question 3

............. refers to the covering of a foreign exchange risk.

Accepted Answer

Hedging

Answer

Arbitrage

Answer

Purchasing power parity

Answer

Mint parity

Question 4

A ................ results when each player adopts the strategy that gives her the highest possible pay off if her rival sticks to the strategy she has chosen.

Accepted Answer

Nash equilibrium

Answer

Partial equilibrium

Answer

General equilibrium

Answer

Long-run equilibrium

Question 5

Price set by an authority is called ................. price.

Accepted Answer

Administered

Answer

Transfer

Answer

Fixed

Answer

Limit

MH SET 2020 Paper 2 Economics Question Paper (27-Dec-2020)

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