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Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 19

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Free Download as PDF Economics Quiz Questions and Answers for Competitive Exams or solved MCQs with answers. These quiz objective questions are helpful for competitive exams SSC, UPSC, IAS, IPS, CDS, NDA, Railways or RRB, psc exams of Andhra Pradesh, Arunachal Pradesh, Assam, Bihar, Gujarat, Haryana, Himachal Pradesh, Jammu & Kashmir, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Manipur, Meghalaya, Mizoram, Nagaland, Orissa, Punjab, Rajasthan, Sikkim, Tamil Nadu, Tripura, Uttar Pradesh, West Bengal, Chhattisgarh, Uttarakhand, Jharkhand, Telangana etc.
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(1) The monopolist has no supply curve because
(1) there is a single seller in the market.
(2) the relationship between price and quantity depends on both marginal cost and average cost.
(3) the monopolist’s marginal cost curve changes considerably over time.
(4) the quantity supplied at any particular price depends on the monopolist’s demand curve.
Answer: the quantity supplied at any particular price depends on the monopolist’s demand curve.
(2) If the Consumer Price Index Number for April 2015 was 120 and in April 2016, the same increased to 126, then the percentage rate of inflation will be
(1) 5
(2) 6
(3) 12.6
(4) 10.5
Answer: 5

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(3) According to the purchasing power parity theory of exchange rate determination, the currency of country X would appreciate against that of country Y if :
(1) the inflation rate in country Y is less than that in country X
(2) the country X gets more foreign direct investment than country Y
(3) the inflation rate in country X is less than that in country Y
(4) the rate of growth of Gross Domestic Product in country X is greater than that in country Y
Answer: the inflation rate in country X is less than that in country Y
(4) Who among the following is credited with first drawing attention to trade creation and trade diversion effects ?
(1) Jacob Viner
(2) Bella Ballsa
(3) Paul Samuelson
(4) G. Heberler
Answer: Jacob Viner
(5) International trade is based on the idea that
(1) Exports exceed imports
(2) Imports exceed exports
(3) Resources are more easily mobile internationally than goods
(4) Resources are less mobile internationally than the goods
Answer: Resources are less mobile internationally than the goods
(6) Which one of the following denotes the size of an operational holding in Indian Agriculture ?
(1) Own Land
(2) Own land + leased – in – land
(3) Own land + leased – in – leased – out land
(4) Own land – leased – out land
Answer: Own land + leased – in – leased – out land
(7) In an open economy input-output model if (I – A) is technology matrix, the viability condition to be satisfied is
(1) |I – A| < 0
(2) |I – A| > 0
(3) |I – A| = 0
(4) All principal minors of the matrix (I – A) must be positive
Answer: All principal minors of the matrix (I – A) must be positive
(8) Which one of following pairs is not correctly matched ?
(1) Durbin’s h Test – Autocorrelation in autoregressive models
(2) Dicky-Fuller Test – Heteroscedasticity
(3) F-Test – Overall significance of regression
(4) Distributed Lag Model – Koyck Approach
Answer: Dicky-Fuller Test – Heteroscedasticity
(9) Full demographic dividend will be realised when government promotes
(1) more social security
(2) more intensive growth
(3) more skill development
(4) more capital market
Answer: more skill development
(10) Which one of the following is true for the General Fertility Rate ?
(1) It is an actual measure of fertility.
(2) It is a potential measure of fertility.
(3) It is an actual measure of female population composition.
(4) It is based on hypothetical age specific birth rate profile.
Answer: It is a potential measure of fertility.
(11) Which among the following curves is used to depict the long run behaviour of population growth ?
(1) Normal Curve
(2) Logistic Curve
(3) Exponential Curve
(4) Ogive
Answer: Logistic Curve
(12) Infrastructure cess is a levy/tax on
(1) Builders
(2) Railways
(3) Motor vehicles
(4) Public Transport
Answer: Motor vehicles
(13) The banks which are implementing the Micro Finance Programme linked with Self Help Groups (SHGs) are
(1) Commercial Banks and Co-operative Banks, only.
(2) Regional Rural Banks and Commercial Banks, only.
(3) Co-operative Banks and Regional Rural Banks, only.
(4) Commercial Banks, Regional Rural Banks and Co-operative Banks.
Answer: Commercial Banks, Regional Rural Banks and Co-operative Banks.
(14) Which of the following is generally called as Aggregate monetary measure of money supply ?
(1) M4
(2) M1
(3) M2
(4) M3
Answer: M3
(15) The traders reduce the risk of loss in currency fluctuations through which of the following ?
(1) Speculations
(2) Arbitrage
(3) Hedging
(4) None of the above
Answer: Hedging

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