Match the following: List-I List-II (a) Diminishing MRS (i) Dual economic models (b) Marginal…
Diminishing MRS belongs to indifference curve analysis, while surplus labour with a non-positive marginal product is associated with dual economic models. Disproportionality…
Choose your answer
Match the following:
| List-I | List-II |
| (a) Diminishing MRS | (i) Dual economic models |
| (b) Marginal Productivity of labour ≤ 0 | (ii) Marxian theory of capitalistic crisis |
| (c) Disproportionality and under-consumption | (iii) Ricardian stationary state |
| (d) Universal diminishing marginal returns | (iv) Indifference curve analysis |
| (v) Circular flow |
Answer and explanation
Correct answer A
Diminishing MRS belongs to indifference curve analysis, while surplus labour with a non-positive marginal product is associated with dual economic models. Disproportionality and under-consumption are associated with Marxian crisis theory, and diminishing returns underlie the Ricardian stationary state.
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West Bengal SET (WB SET)