Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 23

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Questions
1 Which one of the following models explains the paradox pertaining to rural-urban migration in the context of rising urban employment ?
1 Solow model
2 Lewis model
3 Vakil and Brahmanand model
4 Todaro model

Answer:Todaro model
2 In Harrod model of growth, if warranted rate of growth is below the natural rate of growth then it is possible to maintain steady state growth with :
1 Continuously increasing unemployment
2 A constant rate of unemployment
3 Continuously decreasing unemployment
4 None of the above

Answer:Continuously increasing unemployment
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3 Tobin tax is a tax on :
1 transactions in the share market
2 transactions in the money market
3 transactions in the commodity market
4 transactions in the foreign exchange market

Answer:transactions in the foreign exchange market
4 Budget incidence refers to :
1 The effect of both government expenditure and tax policies on the distribution of income.
2 The effect of government expenditure on the allocation of resources.
3 The effect of tax policies on the distribution of income and wealth in the private sector.
4 None of the above

Answer:The effect of both government expenditure and tax policies on the distribution of income.
5 In case of deficit budget, when the deficits are covered through taxes, that budget is called :
1 unbalanced budget
2 surplus budget
3 balanced budget
4 None of these

Answer:balanced budget
6 Efficiency requires that the production of pure public goods be undertaken to the point where ?
1 the sum of the marginal private benefits is exactly equal to the marginal social cost of production.
2 the marginal private benefit is exactly equal to the marginal social cost of production.
3 the marginal social cost exceeds the sum of the marginal private benefits.
4 None of the above.

Answer:the sum of the marginal private benefits is exactly equal to the marginal social cost of production.
7 Retail Banking is to provide banking services :
1 only to individual customers in an integrated manner
2 entirely to agriculture sector only
3 only to self-help group for their survival
4 None of the above

Answer:only to individual customers in an integrated manner
8 Labour market reforms aim at :
1 Job security
2 Minimum wage
3 Labour market flexibility
4 Employment insurance

Answer:Employment insurance
9 Jan - Dhan Yojna Concerns :
1 Credit
2 Tax payment
3 Bank deposit
4 Insurance premium

Answer:Bank deposit
10 The Geometric mean of four numbers 2, X, 16, 32 is 8. What is the value of X ?
1 2
2 4
3 6
4 8

Answer:4
11 If mean528 and mode525, the value of median will be :
1 27
2 29
3 24
4 25

Answer:27
12 Type - I error is defined as :
1 Reject Null-hypothesis when it is false.
2 Reject Null-hypothesis when it is true
3 Accept Null-hypothesis when it is true.
4 Accept Null-hypothesis when it is false.

Answer:Reject Null-hypothesis when it is true
13 Given that xy 5 0.6 , sY550, sX510, X 5 30 and Y 5 140 ; the correct regression of Y on X is given by :
1 Y55013X
2 Y511010.6X
3 Y514013X
4 Y514023X

Answer:Y514023X
14 Which one of the following is not a method of sampling ?
1 Systematic sampling
2 Quota sampling
3 Snowball sampling
4 Large sampling

Answer:Large sampling
15 Growth in software industry in India can be best explained by :
1 Porter’s approach
2 Ricardo’s approach
3 Vernon’s approach
4 Bella Balassa’s approach

Answer:Porter’s approach

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