If Labour Force Participation Rate (LFPR) is 50% and Worker Population Ratio (WPR) is 45%, what is the Unemployment Rate?
10%
Unemployment Rate is calculated as (LFPR − WPR)/LFPR × 100. Substituting the given values, (50 − 45)/50 × 100 = 10%. Hence the unemployment rate is 10%.
In economics, if a diagram has a line passing through the origin and has a 45° angle with either axis and it is asserted that along the line, X = Y, what is tacitly assumed?
Suppose an agricultural labourer earns Rs. 400 per day in her village. She gets a job to work as babysitter in a nearby town @ Rs. 700 per day. She chose to work as agricultural labourer. Which one of the following is the opportunity cost of the agricultural labourer?
Which one of the following is the opportunity cost of a chosen activity?
Which one of the following may lead to a movement along the demand curve of a commodity?
Which of the following factors signify monopolistic competition?
1. Differentiated products
2. Large number of buyers and sellers
3. Barriers to entry
4. Homogeneous products
Select the correct answer using the code given below:
Which one of the following is not an assumption in the law of demand?
Which one of the following statements is not correct?
Under normal downward sloping demand curve and fully elastic supply curve of a commodity, an exogenous decrease in demand would lead to
Which one of the following does not influence quantity demanded for a good?
The value of the slope of a normal demand curve is ________.
Which of the following statement is correct?
I. Indifference curves are sloping from left to right.
II. Higher indifference curve gives a higher level of utility.
According to Ricardo what condition is necessary to make possible international trade between two countries?
Match List I with List II:
List- I Shape of revenue curve of the firm | List – II Market structure | ||
A. | Kinked revenue-curve | (I) | Monopolistic competition |
B. | Infinitely elastic straight line curve | (II) | Perfect competition |
C. | Relatively less elastic curve | (III) | Oligopoly |
D. | Relatively high elastic curve | (IV) | Monopoly. |
Marginal revenue of a firm is constant throughout under _________.
The cost curve which is a rectangular hyperbola is: