1. Under monopolistic competition the cross elasticity of demand for the product of a firm will be?
(A) Perfectly elastic
(B) Perfectly inelastic
(C) Highly elastic
(D) Highly inelastic
2. Which of the following curves is not ‘U’ shaped?
(A) Average Cost Curve
(B) Average Variable Cost Curve
(C) Average Fixed Cost Curve
(D) Marginal Cost Curve
(A) Collection of data
(B) Presentation of data
(C) Classification of data
(D) Interpretation of data
4. Which of the following indices is based on only base year quantities?
(A) Laspeyre’s index
(B) Fisher’s index
(C) Kelley’s index
(D) Pasche’s index
5. The first State in India- which published its State Human Development Report, is?
(A) Kerala
(B) Madhya Pradesh
(C) Gujarat
(D) Andhra Pradesh
6. The Utility Index Number has been developed by?
(A) Marshall and Edgeworth
(B) Hall and Hitch
(C) Neumann and Morgenstern
(D) Hicks and Hanson
7. The following theory is treated as ‘the third root of the logical theory of demand’?
(A) Diminishing marginal utility theory
(B) Equi-marginal utility theory
(C) Revealed preference theory
(D) Theory of consumer’s surplus
8. Employment elasticity of growth is measured as?
(A) Employment growth rate / GDP growth rate
(B) Employment growth rate/Population growth rate
(C) Employment growth rate/Unemployment growth rate
(D) Employment growth rate// Per capita income growth rate
9. The fundamental equation in Harrod’s growth model is defined?
(A) In terms of rate of growth of output
(8) In terms of rate of growth of technology
(C) In relation to the path of capital-labour ratio
(D) In terms of rate of change of capital-output ratio
10. The best average for the construction of index number is?
(A) Geometric mean
(B) Arithmetic mean
(C) Harmonic mean
(D) Weighted mean
11. The minimum price below which the seller will not sell the goods, is known as?
(A) Estimated price
(B) Administered price
(C) Reserve price
(D) Shadow price
12. In the equation C = C0 + alpha,Y, the behavioural coefficient is?
(A)C
(B) C0
(C)alpha
(D)Y
13. Automatic stabilizer is a tool of?
(A) Taxation policy
(B) Employment policy
(C) Population policy
(D) Export policy
14. The price of a commodity will increase if the increase in demand is?
(A) More than increase in supply
(B) Less than increase in supply
(C) Equal to the increase in supply
(D) Not related to the increase in supply,
(A) The economy has two sectors
(B) Capitalists reinvest all theirprofits
(C) Rural wage is determined by marginal product of labour
(D) The supply of rural labour to modern sector is perfectly elastic
16. The Durbin-Watson test is used for?
(A) Autocorrelation
(B) Multiple correlation
(C) Partial correlation
(D) Simple correlation
17. The following Industrial Policy Resolution is known as the Economic Constitution of India?
(A) Industrial Policy, 1948
(B) Industrial Policy, 1956
(C) Industrial Policy, 1980
(D) Industrial Policy, 1991
18. If two regression lines are perpendicular to each other, the correlation coefficient will be?
(A)+1
(B) —1
(C)Zero
(D) Indetermined
19. Under the second degree of price discrimination in discriminating monopoly, the buyers are divided into?
(A) One single group only of all buyers
(B) Two groups only of all buyers
(C) Many groups of buyers according to their demand
(D) Number of groups which is equal to number of buyers
20.If an economy is purely competitive static economy, then the economic profit will be?
(A)Minimum
(B) Maximum
(C)Zero
(D) Negative
21.Who is known as the ‘Architect’ of Indian Planning?
(A) Dadabhai Naoroji
(B) M. Visvesaraia
(C) P. C. Mahalanobis
(D) Ardeshir Dalal
22. The entertainment tax in India was first introduced in the State of?
(A)Bengal
(B) Bihar
(C) Rajasthan
(D) Maharashtra
23. The Laffer curve shows the relationship between?
(A) Per capita income and environmental pollution
(B) Rate of unemployment and rate of inflation
(C) Tax rate and tax revenue
(D) Economic growth and income inequality
24. The shape of the indifference curve indicates?
(A) Income of the consume
(B) Taste of the consumer
(C) Prices of the commodities
(D) Quality of the commodities
25. Which of the following has highest quantitative value in a positively skewed distribution?
(A)Mean
(B) Median
(C)Mode
(D) First quartile
26. Which of the following is also known as mixed sample?
(A) Systematic sample
(B) Stratified sample
(C) Random sample
(D) Multi-stage sample
27.According to Harvey Leibenstein, two types of incentives work in under-developed countries?
(A) Positive-sum incentives and Negative-sum incentives
(B) Zero-sum incentives and negative-sum incentives
(C) Positive-sum incentives and Multiple-sum incentives
(D) Zero-sum intcentives and Positive-sum incentives
28. During recent past, the highest GDP growth rate has been
achieved in the year?
(A)2005-06
(B) 2006-07
(C)2007-08
(D) 2008-09
29 A factor of production is used by a producer at that stage where the marginal production of the factor is?
(A) Increasing, but positive
(B) Increasing, but negative
(C) Decreasing, but positive
(D) Decreasing, but negative
30. The doctrine of consumer’s surplus is based on?
(A) Indifference curve analysis
(B) Revealed preference analysis
(C) Law of substitution
(D) Law of diminishing marginal utility
31. Big-mac index is based on?
(A) Official exchange rate
(B) Real effective exchange rate
(C) Nominal effective exchange rate
(D) Purchasing power parity exchange rate
32. The New Tax Code which is pro posed to come into effect from April 1st, 2011 covers?
(A) Direct taxes only
(B) Indirect taxes only
(C) Both direct and indirect taxes
(D) State level taxes only
33. In the Union Budget 2009-10, total amount of interest payments is estimated?
(A) More than Rs. 1.0 lakh crore
(B) More than Rs. 1.5 lakh crore
(C) More than Rs. 2.0 lakh crore
(D) More than Rs. 2.5 Iakh crore
34. Which of the following is related with monopoly?
(A)Advertisement cost
(B) Selling cost
(C) Price discrimination
(D) Product differentiation
35.The modern money is not?
(A) Token money
(B) Fiat money
(C) Fiduciary money
(D) Full bodied money
36.The outcome budget is a?
(A) Pre-outlay instrument
(B) Post-outlay instrument
(C) Pre-expenditure instrument
(D) Post-expenditure instrument
37. In the theory of kinked demand curve, the lower segment of the demand curve is?
(A) Perfectly inelastic
(B) Perfectly elastic
(C) Highly elastic
(D) Less elastic
38. The catJse of difference between: GDP and NDP is?
(A) Net foreign income
(B) Depreciation
(C) Subsidies
(D) Net indirect tax
39. Arithmetic mean of deviation is always?
(A) A positive value
(B) A negative value
(C) Equal to zero
(D) Equal to one
40. Which one of the following is an item of current account of the balance of payments?
(A) Foreign investment
(B) External commercial borrowings
(C) Foreign grants
(D) Non-resident Indian deposits
41. Charlier’s check for accuracy is used for?
(A)Mean
(B)Median
(C)Correlation
(D) Standard deviation
42.The empirical study of economic theories is considered under?
(A) Aggregate economics
(B) Applied economics
(C) Social economics
(D) Welfare economics
43 Elinor Ostrom, the first woman to win the Nobel Prize in economics in 2009. has been awarded for her contribution in the field of?
(A) Resolving business conflicts
(B) Inflationary trends
(C) Management of common property
(D) Capital market analysis
44. The Kuznet’s curve shows the relationship between?
(A) Economic growth and income inequality
(B) Unemployment and inflation
(C) Tax rate and tax revenue
(D) Economic growth and inflation
45. Slutsky’s substitution effect is based on?
(A) Cost variation
(B) Cost difference
(C) Compensating variation
(D) Compensating difference
46. The correlation coefficient is independent of?
(A) Change of scale only
(B) Change of origin only
(C) Both the changes of scale and origin
(D) Neither the change of origin nor the change of scale
47. The data represented through arithmetic line graph help in understanding?
(A)Trend
(B) Randomness
(C) Cyclicity
(D) Seasonality
48. Select the correct statements regarding the Balanced Growth theory
Statements:
1 It is a static concept
2. It is a dynamic concept
3. It recognises the significance of economic independence
4. It recognises the significance of economic interdependence.
Code
(A) 1 and 4
(B) 2and 3
(C)1 and 3
(D) 2 and 4
49. For setting up new industrial parks and in established industrial parks, the Foreign Direct Investment under automatic route has been allowed?
(A) Upto 26percent
(B) Upto 49 per cent
(C) Upto 74 per cent
(D) Upto 100 per cent
50.The Euler’s theorem is satisfied only with?
(A) Homogeneous function
(B) Heterogeneous function
(C) Endogeneous function
(D) Exogeneous function
Answers:
| 1 | C |
| 2 | C |
| 3 | A |
| 4 | A |
| 5 | A |
| 6 | C |
| 7 | C |
| 8 | A |
| 9 | D |
| 10 | A |
| 11 | C |
| 12 | C |
| 13 | A |
| 14 | A |
| 15 | C |
| 16 | A |
| 17 | B |
| 18 | C |
| 19 | C |
| 20 | C |
| 21 | B |
| 22 | A |
| 23 | C |
| 24 | B |
| 25 | A |
| 26 | B |
| 27 | A |
| 28 | B |
| 29 | C |
| 30 | D |
| 31 | D |
| 32 | A |
| 33 | C |
| 34 | C |
| 35 | D |
| 36 | A |
| 37 | D |
| 38 | B |
| 39 | C |
| 40 | C |
| 41 | A |
| 42 | D |
| 43 | C |
| 44 | A |
| 45 | B |
| 46 | C |
| 47 | A |
| 48 | D |
| 49 | D |
| 50 | A |
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