Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 28

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Questions
1 Which one of the following assumptions is the most important assumption in the Heckscher - ohlin theorem of international trade ?
1 Two - factor model
2 Two commodities
3 No tariff
4 Constant tariff

Answer:No tariff
2 In dual gap model, the two gaps refer to :
1 Inflationary gap and investment gap
2 Saving gap and deflationary gap
3 Savings constraint and foreign exchange constraint
4 Investment gap and savings gap

Answer:Savings constraint and foreign exchange constraint
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3 What is the value of the Gini coefficient for an income distribution characterised by complete equality incomes ?
1 Zero
2 0.5
3 1
4 infinity

Answer:Zero
4 Which of the following has not been identified as a potential consequence of global warming ?
1 A fall in agricultural yields
2 The spread of disease
3 The use of nuclear energy
4 A rise in sea levels

Answer:The use of nuclear energy
5 Monetary policy is most effective when investment spending is :
1 Interest elastic and demand for money is also interest elastic
2 Interest inelastic and demand for money is also interest inelastic
3 Interest inelastic and demand for money is interest elastic
4 Interest elastic and the demand for money is interest inelastic

Answer:Interest elastic and the demand for money is interest inelastic
6 Slope of the LM Curve depends upon which of the following ?
1 Interest elasticity of investment
2 Interest elasticity of income
3 Interest elasticity of demand for money
4 None of the above

Answer:Interest elasticity of investment
7 In a closed economy and three sector model which of the following is true ?
1 Household savings equal net investment
2 Household savings equal gross investment
3 Household savings plus depreciation equals gross investment plus government spending
4 Household savings plus taxes plus depreciation equals gross investment plus government spending

Answer: Household savings plus taxes plus depreciation equals gross investment plus government spending
8 According to Keynes, the marginal efficiency of capital is the expected :
1 Rate of return on financial assets
2 Profit from real investment
3 Profit from financial investment
4 Rate of return on real investment

Answer:Rate of return on real investment
9 An interest rate risk means :
1 When borrowers fail to fulfil the terms of the loan contract
2 A rise in interest rate will mean a fall in the value of security in the secondary market
3 A rise in interest rate will raise the value of financial security in the secondary market
4 J.R. HicksWhen unintended inflation arises

Answer:A rise in interest rate will mean a fall in the value of security in the secondary market
10 In the classical macro system money determines which of the following ?
1 Output and Prices
2 Employment and Prices
3 Output and Employment
4 Prices

Answer:Prices
11 When nominal GDP is ` 11,000 crores and real GDP is ` 10,000 crores, GDP deflator is :
1 9.09
2 90.91
3 1.11
4 110

Answer:110
12 Recently the base year for calculating GDP in India has been changed to :
1 2009 - 10
2 2011 - 12
3 2014 - 15
4 2004 - 05

Answer:2011 - 12
13 Which of the following states has the largest share in the total food grains produced in India ?
1 Punjab
2 U.P.
3 Haryana
4 M.P.

Answer:U.P.
14 JAM trinity means :
1 Jan - Dhan Account Money
2 Jan, Awas, Money
3 Jan - Dhan Yojana, Aadhar, Mobile Numbers
4 Jyoti, Aadhar, Mobile

Answer: Jan - Dhan Yojana, Aadhar, Mobile Numbers
15 Who is the originator of ‘Buddhist Economics’ ?
1 Lee Kuan Yew
2 Dalai Lama
3 E.F. Schumacher
4 Shinzo Abe

Answer:E.F. Schumacher

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