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ECONOMICS-2015: Daily Answer Writing Challenge – 17

ECONOMICS-2015: Daily Answer Writing Challenge – 17

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  1. Elucidate how does Kalecki’s theory of distribution share the value of output between labour and capital. (2011 – 20 marks)
  2. The marginal efficiency of capital together with the current rate of interest determine the profitability of an investment project. How does it help in the selection of an investment project? (2011 – 20 marks)
  3. “Validity of Marshall’s equi-marginal utility depends on the assumption of unitary elasticity of the marginal utility curves of the commodities under the budget.” Clearly explain this assertion. (2012 – 12 marks)

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