In the context of production, the stage of diminishing returns begins when: MCQ with Answer and Explanation

Question
In the context of production, the stage of diminishing returns begins when:
A. Total product is maximum
B. Average product is zero
C. Marginal product is negative
D. Marginal product starts declining
Answer: Option D
Solution (By JKSSB Mock Tests)
The stage of diminishing returns starts when the marginal product of the variable factor begins to decline, although it may still be positive.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
The 'Finance Bill' is passed under which article of the Constitution?
A. Article 280
B. Article 117
C. Article 110
D. Article 324
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Correct Answer: Option B

Explanation:
The Finance Bill is a Money Bill passed under Article 117.
This question belongs to: Economy GK Economy Set 1
Question #2
Which of the following is a characteristic of the 'Classical Dichotomy'?
A. Only fiscal policy is neutral
B. Real and nominal variables are determined separately and money is neutral
C. Money affects real output in the long run
D. Real and nominal variables are always interdependent
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Correct Answer: Option B

Explanation:
The classical dichotomy is the proposition that real variables (output, employment, relative prices) are determined independently of nominal variables and that money is neutral in the long run.
This question belongs to: Economy GK Economy Set 1
Question #3
The 'maternity benefit' under the Maternity Benefit Act provides paid leave of how many weeks?
A. 12 weeks
B. 30 weeks
C. 26 weeks
D. 14 weeks
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Correct Answer: Option C

Explanation:
The Maternity Benefit Amendment Act 2017 increased paid maternity leave to 26 weeks.
This question belongs to: Economy GK Economy Set 1
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