Production and cost — Economics STD 12 Humanities & Commerce — Question

Giving reasons, state whether the following statement are true or false:
When there are diminishing returns to a factor, total product always decreases.

Are the following statements true or false? Give reasons.
Government budget is a statement of actual receipts and payments of the government.

State whether the following statement is true or false:
‘‘Expected obsolescence is included in depreciation.’’

State giving reasons, whether the following statements are true or false:
Total Product will increase only when Marginal Product increases.

State whether the following statement is true or false:
‘‘As per Keynesian theory in an economy, full employment can never exist.’’

Giving reasons, state whether the following statements are true or false.
When there are diminishing returns to a factor, marginal and total product both always fall.

Giving reasons, state whether the following statements are true or false:
In a state of equilibrium, quantity demanded will be less than the quantity supplied.

Giving reasons, state whether the following statements are true or false:
Equilibrium between demand and supply helps in determining prevailing price of the product.

Giving reason, state whether the following statement are true or false:
Savings are a stock.

Giving reason, state whether the following statement are true or false.
Borrowing by government from World Bank to finance the BOP deficit will be recorded in the capital account.