Question
Which of the following is an intuitive decision?
Solution
An intuitive decision refers to making a choice without the use of conscious thought or logical inference but mostly relying on hunches or intuition or gut feeling.
If the endowment of some resource increases, the industry that uses that resource most intensively will increase its output while the other in...
Excess Capacity is not found in?
The equilibrium level of income is
A sample poll of 100 voters reveals the following information about candidates A, B and C who are nominated for 3 different offices:
- ...
In two commodity worlds if one good is inferior then the other must be
In a government budget, revenue deficit is Rs. 50000 crores and borrowing are Rs. 75000 crores. The fiscal deficit will be:
Non-spherical errors are related to
If a random variable X follows a uniform distribution between 0 and 1, what is the expected value of X?
If demand is price inelastic, then
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