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1. Which cost is represented by the difference between the origin and the intercept of the total cost curve?

A

Average cost

B

Total cost

C

Fixed cost

D

Variable cost

2. Which transaction is included in current account of balance of payments?

A

Commercial borrowing

B

Imports of services

C

Non-resident deposits

D

Foreign investment

3. Which model seeks to determine the unique rate at which investment and income must grow so that full employment level is maintained over a long period of time?

A

Harrod and Domar model

B

Lewis model

C

Solow model

D

Endogenous growth model

4. Deposits which are payable on demand and can be withdrawn by the public through cheques are called ______.

A

Saving deposits

B

Time deposits

C

Fixed deposits

D

Demand deposits

5. Which measure of macroeconomic stabilisation programme stressed that containment of public expenditure is essential, but the government`s capital expenditures in key social sectors must not be curtailed?

A

Fiscal correction

B

Improving the balance of payments position

C

Control of inflation

D

Disinvestment

6. In stage 3 of law of variable proportions, the total product ______ and the total product curve slopes ______.

A

rises, downward

B

rises, upward

C

declines, downward

D

declines, upward

7. Which factor determines the incidence of taxes borne by the producer and the consumer?

A

Both cross elasticity and income elasticity

B

Neither cross elasticity nor income elasticity

C

Both elasticity of demand as well as elasticity of supply

D

Neither elasticity of demand nor elasticity of supply

8. Which factor induces the movement of the economy from one production possibility curve to another?

A

Fuller employment of the given resources

B

Partial employment of the given resources

C

Increase in resources

D

Decrease in resources

9. In which money market, uncollateralised borrowing and lending of funds take place on overnight basis?

A

Commercial Paper Market

B

Call Money Market

C

Treasury Bill Market

D

The Repo Market

10. The compulsory payment levied on the persons or companies to meet the expenditure incurred on conferring common benefits upon the people of a country is known as ______.

A

revenue

B

finance

C

tax

D

fee

11. Which agricultural measure aims at consolidating all plots of land owned by a particular farmer in different places of the village by sanctioning land at one place?

A

Institutions involving people’s participation in planning

B

Technological measures

C

Food security system

D

Cooperation and consolidation of holdings

12. For an inferior good, income effect of change in money income of the consumer is ______.

A

negative

B

non-negative

C

positive

D

zero

13. The proportion of the population who are multidimensionally poor is known as the ______.

A

Income gap ratio

B

Poverty gap ratio

C

Intensity of poverty

D

Headcount ratio

14. The new industrial policy of 1991 gave the firms automatic permission for direct foreign investment upto ______ percent of foreign equity.

A

99

B

75

C

51

D

49

15. Suppose there are two goods, X and Y. What will be the effect of fall in the price of good X on the budget constraint line?

A

Intercept on the Y-axis will shift downwards

B

Intercept on the X-axis will shift to the left

C

Intercept on the X-axis will shift to the right

D

Intercept on the X-axis will remain unchanged

16. Which factor is considered as the primary or original factors of production?

A

Land

B

Human capital

C

Fixed capital

D

Working capital

17. According to Domar`s growth model, the marginal output-capital ratio will be ______ average output-capital ratio if output-capital ratio remains constant.

A

equal to

B

greater than

C

lower than

D

lower than or equal to

18. Value of money is inversely proportional to the ______.

A

aggregate demand

B

aggregate supply

C

price level

D

unemployment level

19. Which system of rationing talks about the principle of “first come first served”?

A

Allocation by seller`s preferences

B

Queue rationing

C

Black market

D

Coupon rationing

20. Which property is categorised as real property?

A

Buildings

B

Computer programmes

C

Shares

D

Bonds