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Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 32

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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) Which of the following new financing agency provide finance to micro and small business ?
(1) S I D B I
(2) M U D R A
(3) N A B A R D
(4) K C C
Answer: M U D R A
(2) Who said, “Inflation is unjust and defletion is inexpedient” ?
(1) A. K. Sen
(2) J. R. Hicks
(3) A. C. Pigou
(4) J. M. Keynes
Answer: J. M. Keynes

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(3) Central Governments’ situation is likely to be stressed because of :
(1) Implementation of the recommandations of the Seventh Central Pay Commission
(2) Larger devolution to the states arrising out of recommandations of the Fourteenth Finance Commission.
(3) Compensation to the states on implementation of GST
(4) All of the above.
Answer: All of the above.
(4) Which tax is imposed solely by the Government of India ?
(1) Sales Tax
(2) Excise Tax
(3) Custom duty
(4) Octroi duty
Answer: Custom duty
(5) Which country introduced paper currency system first in World ?
(1) England
(2) USA
(3) India
(4) Sweden
Answer: Sweden
(6) The 2014 Nobel Prize in Economics was awarded to :
(1) Lars Peter Hansen
(2) Jean Triole
(3) Alvin E. Roth
(4) Paul Krugman
Answer: Paul Krugman
(7) In environmental economics Herman Daly has formulated :
(1) Step up approach
(2) Space utilisation approach
(3) Ecological approach
(4) Steady - state approach
Answer: Steady - state approach
(8) High powered panel to select the non-executive chairman of public sector banks has been constituted by Government under the chairmanship of :
(1) C. Rangarajan
(2) Raghuram Rajan
(3) Bimal Jalan
(4) Y. V. Reddy
Answer: Raghuram Rajan
(9) India’s ‘Green Actions’ can be made effective by :
(1) Increase in excise duty on petrol and diesel
(2) Translating coal cess into a ‘carbon tax’.
(3) Significantely promoting the renewable sources of energy.
(4) All of the above.
Answer: All of the above.
(10) Which of the following are the conditions of economic viability and technological feasibilty of Leontief’s static model ?
(1) Kuhn - Tucker conditions
(2) Hawkins - Simon conditions
(3) Klein - Rubin conditions
(4) Von Neumann - Mogenstern conditions
Answer: Hawkins - Simon conditions
(11) Given the demand function as p52022q, the average and marginal revenue at q53 are respectively :
(1) 6 and 12
(2) 7 and 12
(3) 8 and 14
(4) 11 and 15
Answer: 8 and 14
(12) Which of the following is true in the context of statistical tests of hypotheses for two variable linear regression model :
(1) t2 > F
(2) t2 < F
(3) t25F
(4) t5F
Answer: t25F
(13) Which is the correct form of model to test the stationarity of a time series through DickyFuller test ?
(1) Yt5lYt211mt
(2) Yt5Yt211lmt
(3) Yt5lt111mt
(4) DYt5lYt211mt
Answer: Yt5lYt211mt
(14) The term ‘best’ in the best linear unbiased estimators (BLUE) implies :
(1) Maximum variance of the estimators
(2) Minimum variance of the estimators
(3) Average variance of the estimators
(4) Unbiased variance of the estimators
Answer: Minimum variance of the estimators
(15) In a simultaneous equations system for an over-identified equation the appropriate method of estimation is :
(1) Ordinary Least squares Method
(2) Indirect Least Squares Method
(3) Two-stage Least Squares Method
(4) Limited information maximum Likelyhood Method
Answer: Two-stage Least Squares Method

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