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MCQs for topic: Economics

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1 Which sector currently contributes most of the Gross Domestic Product of India?

2 What will be the effect of an increase in wealth of an individual on his demand curve for a good?

3 According to Invisible Hand Theorem, market economy and price mechanism ensure the achievement of the ______ satisfaction of human`s wants with a ______ sacrifice.

4 If Rs. 600 crores is invested in a year and output-capital ratio is 0.5, then calculate the growth in output during the year

5 Integrating the domestic economy with the world economy is termed as ______

6 All the expenditure of government which promote economic growth are called _____

7 Under which structural reforms, the Indian government formally devalued rupee by 18-19 percent in July 1991 to restore international competitiveness?

8 Which employment programme was designed to provide self-employment to more than a million educated unemployed youth by setting up of seven lakh micro-enterprises under the Eighth five year plan?

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

10 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.

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Question ID: 2948