The branches of the subject Economics are

(a)

Wealth and Welfare

(b)

Production and Consumption

(c)

Demand and Supply

(d)

Micro and Macro

An economic system where the economic activities of a nation are done both by the private and public together is termed as__________

(a)

Capitalistic Economy

(b)

Socialistic Economy

(c)

Globalisic Economy

(d)

Mixed Economy

Expenditure method is used to estimate national income in_______

(a)

Construction sector

(b)

Agricultural Sector

(c)

Service sector

(d)

Banking sector

The value of national income adjusted for inflation is called_________

(a)

Inflation Rate

(b)

Disposal Income

(c)

GNP

(d)

Real national income

The main concern of the Classical Economic Theory is _______.

(a)

Under employment

(b)

Economy is always in the state of equilibrium

(c)

Demand creates its supply

(d)

Imperfect competition

In Keynes theory of employment and income, ___________ is the basic cause of economic depression

(a)

Less production

(b)

More demand

(c)

Inelastic supply

(d)

Less aggregate demand in relation to productive capacity

The relationship between total spending on consumption and the total income is the_______.

(a)

Consumption function

(b)

Savings function

(c)

Investment function

(d)

aggregate demand function

Money is _____.

(a)

acceptable only when it has intrinsic value

(b)

constant in purchasing power

(c)

the most liquid of all assets

(d)

needed for allocation of resources

A Commercial Bank is an institution that provides services

(a)

Accepting deposits

(b)

Providing loans

(c)

Both a and b

(d)

None of the above

Which of the following is a modern theory of international trade?

(a)

absolute cost

(b)

comparative cost

(c)

Factor endowment theory

(d)

none of these

Foreign direct investments not permitted in India

(a)

Banking

(b)

Atomic energy

(c)

Pharmaceutical

(d)

Insurance

The organization which provides long term loan is

(a)

World Bank

(b)

International Monetary Fund

(c)

World Trade Organisation

(d)

BRICS

Which of the following canons of taxation was not listed by Adam smith?

(a)

Canon of equality

(b)

Canon of certainty

(c)

Canon of convenience

(d)

Canon of simplicity

One of the most important market failures is caused by __________

(a)

Positive externalities

(b)

Negative externalities

(c)

Both

(d)

None of the above

Short-term plan is also known as________

(a)

Controlling Plans

(b)

De-controlling Plans

(c)

Rolling Plans

(d)

De-rolling Plans

Sources of secondary data are______

(a)

Published sources

(b)

Unpublished sources

(c)

Neither published nor unpublished sources

(d)

Both (a) and (b)

Econometrics is the amalgamation of

(a)

3 subjects

(b)

4 subjects

(c)

2 subjects

(d)

5 subjects