Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 4

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Questions
1 Identify the correct statement about the relationship between total fertility rate and gross reproduction rate.
1 TFR < GRR
2 TFR = GRR
3 TFR > GRR
4 All of the above

Answer:TFR > GRR
2 Which of the following is often referred to as the ‘hedonic price’ method for valuing environmental assets ?
1 Using linkages between variations in-house prices and geographical proximity to an environmental asset.
2 Using ‘existence value ‘to estimate the value of an environmental asset.
3 Using travel costs to estimate the value of an environmental asset.
4 Using ‘willingness to pay’ to value an environmental asset.

Answer:Using linkages between variations in-house prices and geographical proximity to an environmental asset.
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3 Which of the following is not a scheme for the upliftment of women in India ?
1 Beti Bachao, Beti Padhao
2 Sukanya Samridhi Yojana
3 Gender Budgeting
4 UJALA Scheme

Answer:UJALA Scheme
4 In the context of doubling of farmers income objective, which of the following is not correct ?
1 The target year is 2022 - 23.
2 It is real income which is to be doubled.
3 Income from cultivation alone is to be doubled.
4 Diversification of agriculture is to be promoted to achieve this objective.

Answer: Income from cultivation alone is to be doubled.
5 Which one of the following statements is correct ?
1 Global warming is simply another term for greenhouse effect.
2 Global warming is an entirely natural phenomenon.
3 Global warming means melting down of glaciers.
4 Global warming is the rise in average temperature at earth’s surface

Answer:Global warming is the rise in average temperature at earth’s surface
6 The share of agriculture in the GDP of India has declined over the years. Which of the following is not a correct reason for this ?
1 Relatively faster rate of growth of non-agricultural sectors in the economy.
2 Stagnant or slow rise in yield of agriculture commodities.
3 Educated rural youths are not opting for agriculture as an occupation.
4 Low value addition in case of agricultural commodities.

Answer:Educated rural youths are not opting for agriculture as an occupation.
7 In the last decade, which one among the following sectors has attracted the highest Foreign Direct Investment (FDI) inflow into India ?
1 Telecommunication sector
2 Defence sector
3 Service sector
4 Insurance sector

Answer:Service sector
8 As on 31ST, March 2017, external debt of India was in which of the following range as a percentage of GDP ?
1 14to 16 percent
2 16to 18 percent
3 18to 20 percent
4 20to 22 percent

Answer:20to 22 percent
9 Market failure can occur because of :
1 Imperfect competition
2 Externalities
3 Both (1) and (2)
4 Neither (1) nor (2)

Answer:Both (1) and (2)
10 Capital gains means :
1 An increase in the value of an asset.
2 An increase in the stock of capital.
3 An increase in the yield of an asset.
4 An increase in the amount of foreign capital.

Answer:An increase in the value of an asset.
11 Palma ratio is a measure of :
1 Inequality of income
2 Stock market volatility.
3 Morbidity in a region
4 Volatility of crop prices

Answer: Inequality of income
12 Given the Demand function of a consumer D=10−2p, the consumer’s surplus at price=2 is :
1 2
2 10
3 9
4 15

Answer:9
13 Total cost function of a producer is C=10+5Q+2Q2. If price is 15, what is marginal cost of the producer in equilibrium ?
1 10
2 5
3 15
4 4

Answer:15
14 Which of the following is condition of economic viability and technological feasibility of Leontief’s static system ?
1 Marshall - Edgeworth conditions
2 Kuhn - Tucker conditions
3 Hawkins - Simon conditions
4 Value of the objective function of primal problem should equal the value of the objective function of the dual of the primal

Answer:Hawkins - Simon conditions
15 Simplex method of solving Linear Programming problems was developed by :
1 Koopmans
2 Dantzig
3 Leontief
4 Solow

Answer: Dantzig

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