Identify the other name for Macro Economics.

(a)

Price Theory

(b)

Income Theory

(c)

Market Theory

(d)

Micro Theory

Identify the necessity of Economic policies

(a)

to solve the basic problems

(b)

to overcome the obstacles

(c)

to achieve growth

(d)

all the above

Identify The Father of Socialism

(a)

J M Keynes

(b)

Karl Marx

(c)

Adam Smith

(d)

Samuelson

Primary sector is ________

(a)

Industry

(b)

Trade

(c)

Agriculture

(d)

Construction.

National income is a measure of the__________ performance of an economy

(a)

Industrial

(b)

Agricultural

(c)

Economic

(d)

Consumption

The largest proportion of national income comes from___________

(a)

Private sector

(b)

Local sector

(c)

Public sector

(d)

None of the above

In disguised unemployment, the marginal productivity of labour is _________

(a)

Zero

(b)

One

(c)

Two

(d)

Positive

_________ Flexibility brings equality between saving and investment

(a)

Demand

(b)

Supply

(c)

Capital

(d)

Rate of Interest

Say’s law stressed the operation of________ in the economy

(a)

Induced price mechanism

(b)

Automatic price mechanism

(c)

Induced demand

(d)

Induced investment

As increase in consumption at any given level of income is likely to lead

(a)

Higher aggregate demand

(b)

An increase in exports

(c)

A fall in taxation revenue

(d)

A decrease in import spending

When investment is assumed autonomous the slope of the AD schedule is determined by the______.

(a)

marginal propensity to invest

(b)

disposable income

(c)

marginal propensity to consume

(d)

average propensity to consume

Paper currency system is managed by the______.

(a)

Central Monetary authority

(b)

State Government

(c)

Central Government

(d)

Banks

___________inflation occurs when general prices of commodities increases due to increase in production costs such as wages and raw materials.

(a)

Cost-push

(b)

demand pull

(c)

running

(d)

galloping

Bank credit refers to

(a)

Bank Loans

(b)

Advances

(c)

Bank loans and advances

(d)

Borrowings

Bank Rate means.

(a)

Re-discounting the first class securities

(b)

Interest rate

(c)

Exchange rate

(d)

Growth rate

ARDC started functioning from

(a)

June 3, 1963

(b)

July 3, 1963

(c)

June 1, 1963

(d)

July 1, 1963

2016 Demonetization of currency includes denominations of

(a)

Rs.500 and Rs.1000

(b)

Rs.1000 and Rs.2000

(c)

Rs.200 and Rs.500

(d)

All the above

In general, a primary reason why nations conduct international trade is because

(a)

Some nations prefer to produce one thing while others produce another

(b)

Resources are not equally distributed among all trading nations

(c)

Trade enhances opportunities to accumulate profits

(d)

Interest rates are not identical in all trading nations

Who among the following enunciated the concept of single factoral terms of trade?

(a)

Jacob Viner

(b)

G.S.Donens

(c)

Taussig

(d)

J.S.Mill

Benefits of FDI include, theoretically

(a)

Boost in Economic Growth

(b)

Increase in the import and export of goods and services

(c)

Increased employment and skill levels

(d)

All of these

International Monetary Fund is having its headquarters at

(a)

Washington D.C.

(b)

New York

(c)

Vienna

(d)

Geneva

The other name for Special Drawing Rights is

(a)

Paper gold

(b)

Quotas

(c)

Voluntary Export Restrictions

(d)

None of these

International Development Association is an affiliate of

(a)

IMF

(b)

World Bank

(c)

SAARC

(d)

ASEAN

The term BRIC was coined in

(a)

2001

(b)

2005

(c)

2008

(d)

2010

The tax possesses the following characteristics

(a)

Compulsory

(b)

No quid pro quo

(c)

Failure to pay is offence

(d)

All the above

Which of the following is a direct tax?

(a)

Excise duty

(b)

Income tax

(c)

Customs duty

(d)

Service tax

Consider the following statements and identify the right ones.
(i) The finance commission is appointed by the President
(ii) The tenure of Finance commission is five years

(a)

i only

(b)

ii only

(c)

both

(d)

none

Which one of the following causes of global warming?

(a)

Earth gravftation force

(b)

Oxygen

(c)

Centripetal force

(d)

Increasing temperature

Primary cause of Soil pollution is ________

(a)

Pest control measures

(b)

Land reclamation

(c)

Agricultural runoff

(d)

Chemical fertilizer

Alkali soils are predominantly located in the _______ plains?

(a)

Indus-Ganga

(b)

North-Indian

(c)

Gangetic plains

(d)

All the above

Which among the following is a characteristic of underdevelopment?

(a)

Vicious circle of poverty

(b)

Rising mass consumption

(c)

Growth of Industries

(d)

High rate of urbanization

Economic growth measures the_______

(a)

Growth of productivity

(b)

Increase in nominal income

(c)

Increase in output

(d)

None of the above

Which of the following country adopts indicative planning?

(a)

France

(b)

Germany

(c)

Italy

(d)

Russia

Sarvodaya Plan was advocated by__________

(a)

Mahatma Gandhi

(b)

J.P.Narayan

(c)

S.N Agarwal 

(d)

M.N. Roy

The word 'statistics' is used as _______

(a)

Singular.

(b)

Plural

(c)

Singular and Plural.

(d)

None of above

The value of the coefficient of correlation r lies between

(a)

0 and 1

(b)

-1 and 0

(c)

-1 and +1

(d)

-0.5 and +0.5

Econometric is the word coined by

(a)

Francis Galton

(b)

Ragnar Frish

(c)

Karl Person

(d)

Spearsman

Econometrics is the amalgamation of

(a)

3 subjects

(b)

4 subjects

(c)

2 subjects

(d)

5 subjects

Planned economy is also known as _________.

(a)

Capitalist Economy

(b)

Socialist Economy

(c)

Mixed Economy

(d)

All the above

The total money value of final goods and services produced in the country excluding depreciation is called _________.

(a)

NDP

(b)

GDP

(c)

NNP

(d)

GNP

_________ is only a medium of exchange.

(a)

Money

(b)

Goods

(c)

Labour

(d)

Service

The Great Depression of 1930s was also caused by a _______________

(a)

Fall in investment

(b)

Income and consumption

(c)

Income and employment

(d)

Interest and money

Gold Standard is a system in which the value of the monetary unit or the standard currency is _____ linked with gold.

(a)

directly

(b)

indirectly

(c)

positively

(d)

negatively

__________refers to persuasion

(a)

Growth rate

(b)

Minimization

(c)

Optimization

(d)

Moral Suasion

Viner has devised another concept called ________.

(a)

The single factoral terms of trade

(b)

Net Barter terms of trade

(c)

Gross Barter terms of trade

(d)

Internal trade

WTO is planned to organize 12th ministerial conference at _________ in 2020.

(a)

Russia

(b)

China

(c)

Kazakhstan

(d)

South Africa

Public revenue can be classified into ____________

(a)

Two

(b)

Three

(c)

Four

(d)

Five

Find the missing agent of economy.

(a)

Producer’s Recycle

(b)

Distributor

(c)

Consumers

(d)

None of the above

"Strictly speaking all economic life involves planning" was said by

(a)

Alfred Marshall

(b)

Lionel Robbins

(c)

J.M. Keynes

(d)

Schumpeter

There are two major types of statistics named as _________ and __________ based on nature.

(a)

new statistics and old statistics

(b)

descriptive statistics and inferential statistics

(c)

numerical statistics and inferential statistics

(d)

none of the above