Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 29

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Questions
1 Which of the following is not a credit rating agency ?
1 Moody
2 Standard and Poor
3 Fitch
4 Nasdaq

Answer:Nasdaq
2 Which of the following is not used to measure inflation ?
1 Whole Sale Price Index Number
2 Consumer Price Index Number
3 Purchasing Power Parity Prices
4 GDP Deflator

Answer:Purchasing Power Parity Prices
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3 During the year 2012 - 13, which one of the following was the largest item of expenditure of the central government ?
1 Major subsidies
2 Defence expenditure
3 Interest payment
4 Capital expenditure

Answer:Interest payment
4 14th Finance Commission recommended funds as :
1 Central Assistance to States (CAS)
2 States Development Funds
3 States Share in Sales Taxes
4 States Contributions to Centre

Answer:Central Assistance to States (CAS)
5 FRBM Act 2012 put a ceiling to fiscal deficit of GDP is :
1 6 percent
2 5 percent
3 4 percent
4 3 percent

Answer:3 percent
6 The saving function underlying Cambridge growth model is :
1 Proportional saving function
2 Classical saving function
3 Differential saving function
4 Absolute saving function

Answer: Differential saving function
7 According to Keynesions, creeping inflation will help in :
1 Minimising unemployment
2 Maximising real output
3 None of (1) or (2) above
4 Both (1) and (2) above

Answer: Both (1) and (2) above
8 In the famous equation M=P K Y, K stands for :
1 Fraction of real output held for transaction
2 Fraction of money supply held by persons
3 Fraction of money value of output (transactions) held by public
4 None of the above

Answer: Fraction of money value of output (transactions) held by public
9 Geometric mean of 2, 6 and x is equal to 6. What is the value of x ?
1 2
2 18
3 9
4 3

Answer:18
10 For a distribution, Mean526, Median514, and Mode57, the distribution would be :
1 Positively skewed
2 Negatively skewed
3 Symmetrical
4 None of the above

Answer:Positively skewed
11 A recessionary gap measures the :
1 amount by which autonomous spending is below to that needed to achieve a full employment equillibrium
2 amount by which aggrigate spending exceeds to that needed to achieve full employment
3 difference in real output between the classical model and the keynesian depression model.
4 Extent of paradox of thrift

Answer:amount by which autonomous spending is below to that needed to achieve a full employment equillibrium
12 How many countries are the members of European Union ?
1 25
2 28
3 26
4 15

Answer:28
13 Monetary policy in India now aims at targeting :
1 Growth of money supply
2 Consumer price inflation
3 neither (1) nor (2)
4 Both (1) and (2)

Answer:Consumer price inflation
14 In relative income hypothesis consumption is related to :
1 Peak past consumptions
2 Median current consumption of peer group
3 Neither (1) nor (2)
4 Both (1) and (2)

Answer:Both (1) and (2)
15 Monetary expansion can still be effective in getting out of liquidity trap if it’s combined with :
1 Restrictions on bank loans
2 Increased taxes
3 Contractionary fiscal policy
4 Expansionary fiscal policy

Answer:Expansionary fiscal policy

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