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Answer: six
3 members from RBI and 3 external members nominated by Govt.
Answer: sustained decrease
The exact opposite phenomenon of inflation.
Answer: drives out
People tend to hoard good money and circulate bad money.
Answer: Demand deposits
M1 is the narrowest measure of money supply.
Answer: Population
Represents the average income per person in the country.
Answer: inflation
Real GDP uses base year prices to remove inflation effects.
Answer: National Income
It is the purest measure of a country's national income.
Answer: Total variable cost
TC is the sum of TFC and TVC.
Answer: isoquant
Marginal Rate of Technical Substitution.
Answer: short
Analyzes the effect of adding variable inputs to fixed ones.
Answer: collusion
Cartels are formal collusive agreements among firms.
Answer: two
Duopoly means exactly two sellers dominate the market.
Answer: product
Products are similar but differentiated by brand/features.
Answer: constant
Total revenue is maximized and constant at Ed=1.
Answer: tangent
Tangency ensures MRS equals the price ratio.
Answer: indifference
Indifference curve shows ordinal ranking of preferences.
Answer: negative
Demand falls as income rises for inferior goods.
Answer: increase
Rightward shift indicates higher demand at the same price.
Answer: snob
Snob/prestige goods violate the basic law of demand.
Answer: Argentina
Borges is a foundational figure of 20th-century literature, though he controversially never won the Nobel Prize. His works deeply influenced magical realism and postmodernism.