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1. When two goods are perfectly complementary, the indifference curve

A

intersect each other

B

is L shaped

C

is a straight line

D

is concave at the origin

2. From the following options, indentify the reason, best suited why underdeveloped countries make a fiscal policy?

A

Reduces labor taxes, especially at low income levels.

B

Accelerate the rate of capital formation and investment

C

Provide well-designed tax incentives that reduce the cost of capital

D

Increase the potential output as a major advanced and emerging market economies.

3. Which of the following options points to a demand for one product as a consequence of demand for a parent product?

A

Company Demand

B

Composite Demand

C

Short-term Demand

D

Derived Demand

4. Which of the following in example of variable cost?
i. Rent
ii. Utility cost.
iii. Employee salaries

A

Only i

B

Only ii

C

Both i and ii

D

Both ii and iii

5. The Gram Panchayats have been mandated for the preparation of Gram Panchayat Development Plans (GPDP). The People`s plan campaign for preparing GPDP for 2020-21 was initiated under

A

Sabki Yojna Sabka Vikas

B

Pradhan Mantri Kaushal Vikas Yojana

C

Pradhan Mantri Adhrash Gram Yojana

D

Mission Indradhanush

6. When a commodity is sold at a lower price in "Foreign markets: and at a higher price in "Domestic markets" then the strategy is known as

A

Dumping

B

Multi Plant Monopoly

C

Peak load Pricing

D

Price Ceiling

7. The cost inflation index is mainly used to compute :

A

Business income

B

Long term capital gain

C

Short term capital gain

D

Income from other sources

8. According to the economist Coulborn, too much money chasing too few goods is

A

Globalization

B

Inflation

C

Liberalization

D

Economic growth

9. Which type of inflation is caused due to excessive growth of money supply in the economy?

A

Cost push inflation

B

Cost pull inflation

C

Demand pull inflation

D

Demand push inflation

10. The economic reform, popularly known as Liberalization, Privatization, and Globalization was aimed at making the Indian economy as fastest growing economy and globally competitive. This process started in the

A

Early 1990s

B

Early 1980s

C

Early 2000s

D

Late 1980s

11. Whose opinions have revolutionised the scope of macro economics?

A

Adam Smith

B

J.M. Keynes

C

Marshall

D

Pigou

12. What is the structure or format of TAN?

A

Five Alphabets followed by four digits and an alphabet

B

Four Alphabets followed by five digits and an alphabet

C

Four alphabets follwed by six digits

D

Five alphabets followed by five digits

13. An underdeveloped economy is characterized by

A

High per capita real income

B

Large proportion of labour force in the tertiary sector

C

State of deprivation of large proportion of population

D

Low per capita real income

14. Which one of the following is CORRECT with reference to econometrics?

A

The application of statistical and mathematical theories to economics

B

Calculations with regard to supply and demand

C

It is a branch of macro economics of mathematical methods

D

It is a branch of micro economics of mathematical methods

15. The term which is the opposite situation of inflation and is the state of falling of prices and rising of money is

A

Deflation

B

Stagflation

C

Consumption

D

Recession

16. National Expenditure may be equal to

A

National Income

B

National Income+Taxes

C

National Income - Taxes

D

National Income + National Savings

17. Rolling Plan was also known as

A

Second Five Year Plan

B

Fourth Five year Plan

C

Fifth Five year Plan

D

Sixth Five year Plan

18. Which method of calculating National Income relates to different factors-land, labor, capital and organisation?

A

Income Method

B

Production Method

C

Expenditure Method

D

Source Method

19. Microeconomics is concerned with

A

the economy as a whole

B

the electronics industry

C

the study of individual economic behaviour

D

the interactions within entire econmy

20. In 1944, the Gandhian plan based upon Gandhian philosophy was presented by

A

Shriman Narayan Agarwal

B

P. Mahanbolish

C

Indira Gandhi

D

Jawahar Lal Nehru