Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 30

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Questions
1 If a linear consumption function passes through the origin it means :
1 APC > MPC
2 APC < MPC
3 APC5MPC
4 APC5MPC50

Answer:APC5MPC
2 According to Keynes the Aggregate suppy curve during depression :
1 is horizontal
2 is Vertical
3 tilts downward to the right
4 tilts upward to the right

Answer:is horizontal
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3 Technical progress is said to be Hicks Capital intensive if at constant capital labour ratio MRTSL,K :
1 decreases
2 remains constant
3 increases
4 none of (1), (2) and (3) are relevant

Answer:decreases
4 ‘Adverse selection’ arises because of :
1 Lack of information
2 Wrong information
3 Asymmetrical information
4 Uncertainty of future

Answer:Asymmetrical information
5 Walra’s general equilibrium model uses a :
1 system of equations
2 system of simulteneous linear equations
3 system of simulteneous equations
4 system of linear equations

Answer:system of equations
6 Which of the following is an inferior good ?
1 Kerosine
2 Cooking gas
3 Electricity
4 Chemical fertilizers

Answer: Kerosine
7 Which one of the following is the correct concept of Natural rating unemployment ?
1 Frictionally and structurally unemployed
2 Frictionally and cyclically unemployed
3 Structurally and cyclically unemployed
4 Frictionally, cyclically and structurally unemployed

Answer: Frictionally and structurally unemployed
8 In a linear programming problem, an optimum solution will be :
1 One of the basic solutions
2 One of the feasible solutions
3 One of the basic feasible solutions
4 One of the non-basic solutions

Answer:One of the basic feasible solutions
9 Human capital formation can be accelerated by :
1 Promoting skill development programmes
2 Providing medical and health facilities in both rural and urban areas.
3 Strengthening hardware and software industry.
4 (1) and (2) above.

Answer:(1) and (2) above.
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 The unbalanced growth strategy is based on :
1 External and Internal economies
2 Spread and backwash effects
3 Increasing and constant returns to scale
4 Backward and forward linkages

Answer:Backward and forward linkages
12 Financial dualism theory was developed by :
1 B. Higgins
2 H. Myint
3 W. A. Lewis
4 R. Nurkse

Answer:H. Myint
13 Which among the following production function will exhibit both Hicks and Harrod technical progress ?
1 Leontieff production functions
2 Cobb - Douglas production functions
3 ACMS production functions
4 None of the above

Answer:Cobb - Douglas production functions
14 The concept of X-efficiency was formulated by :
1 H. Singer
2 H. Leibenstein
3 R. Rodan
4 C. Kindleberger

Answer:H. Leibenstein
15 Which among the following items has the largest value of exports in India during 2013-15 ?
1 Engineering goods
2 Garments
3 Gems and Jewellary
4 Agro-processing exports.

Answer:Engineering goods

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