One Point Solution for All JKSSB Exams

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1. According to Joan Robinson, what represents a mythical state of affairs which is not likely to obtain in any actual economy?

Golden age

Natural rate of growth

Warranted rate of growth

Dynamic rate of growth

2. The following demand function for readymade trousers in a town is given as: Q = 2000 + 15Y – 5.5 P where Y is income in thousands of rupees. Find the income elasticity of demand when P = 150 and per capita income in the city is Rs. 15000.

0.25

0.125

0.2

0.16

3. The combinations of two goods lying on the production possibility curve are attainable if the given resources are __ and also used with _

fully employed, productive inefficiency

fully employed, productive efficiency

partially employed, productive efficiency

partially employed, productive inefficiency

4. Which source of funds is classified as bank`s liabilities?

Fixed assets

Deposits

investment in government securities

Advances

5. Which five-year plan noted that industrial production had increased by about five times during that period?

Fourth five-year plan

First five-year plan

Second five-year plan

Sixth five-year plan

6. Which crop has remained the mainstay of the Green Revolution over the years?

Wheat

Rice

Jowar

Bajra

7. The expenditures incurred by a firm which cannot be recovered are known as ______

prime costs

overhead costs

sunk costs

direct costs

8. Which phase of Law of Variable Proportions has been ruled out on the grounds of technical inefficiency?

Diminishing returns to a factor

Constant returns to a factor

Increasing returns to a factor

Negative returns to a factor

9. Which condition holds for a commodity when the consumer is in equilibrium?

Marginal utility is equal to the price

Marginal utility is lower than or equal to the price

Marginal utility is greater than the price

Marginal utility is lower than the price

10. Which institution is categorised as the unorganised sector of the money market?

Commercial Banks

Finance corporations

Indigenous Bankers

Foreign Banks

11. Which market is characterised by competition among the few firms producing differentiated products?

Monopolistic competition

Differentiated oligopoly

Perfect competition

Pure oligopoly

12. What represents the difference between the price that one is willing to pay and the price one actually pays for a particular product?

Deadweight loss

Producer surplus

Consumer surplus

Total surplus

13. As per the government budget, the interest payments are estimated at Rs. 10,000 crores, which is 40 percent of primary deficit. Calculate fiscal deficit.

Rs. 35,000 crores

Rs. 38,000 crores

Rs. 44,000 crores

Rs. 40,000 crores

14. When average product (AP) falls due to increase in quantity of variable input, then ______.

MP > AP

MP - AP

MP < AP

MP = AP

15. Which transaction is included in the capital account of balance of payments?

Payments of debts

Donations

Gifts

Insurance

16. Fischer`s equation of exchange assumes that the transactions velocity of circulation is ______.

decreasing

constant

negative

increasing

17. If the price index for the current year is 150 and national income at current price is Rs. 1,50,000 crores, then calculate the national income at constant price.

Rs. 1,000 crores

Rs. 1,500 crores

Rs. 1,50,000 crores

Rs. 1,00,000 crores

18. Which committee pointed out that the concept of poverty is associated with socially perceived deprivation with respect to basic human needs?

Savarkar committee

Rangarajan committee

Tendulkar committee

Ambedkar committee

19. Under ______, there is a large number of firms producing a homogeneous product.

differentiated oligopoly

perfect competition

pure oligopoly

monopoly

20. Which expenditure is categorised as Developmental Expenditure?

Expenditure on irrigation projects

Expenditure on civil administration

Expenditure on defence

Interest on public debt