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Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 32

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Questions
1 Which of the following new financing agency provide finance to micro and small business ?
1 S I D B I
2 M U D R A
3 N A B A R D
4 K C C

Answer:M U D R A
2 Who said, “Inflation is unjust and defletion is inexpedient” ?
1 A. K. Sen
2 J. R. Hicks
3 A. C. Pigou
4 J. M. Keynes

Answer:J. M. Keynes
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3 Central Governments’ situation is likely to be stressed because of :
1 Implementation of the recommandations of the Seventh Central Pay Commission
2 Larger devolution to the states arrising out of recommandations of the Fourteenth Finance Commission.
3 Compensation to the states on implementation of GST
4 All of the above.

Answer:All of the above.
4 Which tax is imposed solely by the Government of India ?
1 Sales Tax
2 Excise Tax
3 Custom duty
4 Octroi duty

Answer: Custom duty
5 Which country introduced paper currency system first in World ?
1 England
2 USA
3 India
4 Sweden

Answer:Sweden
6 The 2014 Nobel Prize in Economics was awarded to :
1 Lars Peter Hansen
2 Jean Triole
3 Alvin E. Roth
4 Paul Krugman

Answer:Paul Krugman
7 In environmental economics Herman Daly has formulated :
1 Step up approach
2 Space utilisation approach
3 Ecological approach
4 Steady - state approach

Answer: Steady - state approach
8 High powered panel to select the non-executive chairman of public sector banks has been constituted by Government under the chairmanship of :
1 C. Rangarajan
2 Raghuram Rajan
3 Bimal Jalan
4 Y. V. Reddy

Answer:Raghuram Rajan
9 India’s ‘Green Actions’ can be made effective by :
1 Increase in excise duty on petrol and diesel
2 Translating coal cess into a ‘carbon tax’.
3 Significantely promoting the renewable sources of energy.
4 All of the above.

Answer:All of the above.
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10 Which of the following are the conditions of economic viability and technological feasibilty of Leontief’s static model ?
1 Kuhn - Tucker conditions
2 Hawkins - Simon conditions
3 Klein - Rubin conditions
4 Von Neumann - Mogenstern conditions

Answer:Hawkins - Simon conditions
11 Given the demand function as p52022q, the average and marginal revenue at q53 are respectively :
1 6 and 12
2 7 and 12
3 8 and 14
4 11 and 15

Answer: 8 and 14
12 Which of the following is true in the context of statistical tests of hypotheses for two variable linear regression model :
1 t2 > F
2 t2 < F
3 t25F
4 t5F

Answer:t25F
13 Which is the correct form of model to test the stationarity of a time series through DickyFuller test ?
1 Yt5lYt211mt
2 Yt5Yt211lmt
3 Yt5lt111mt
4 DYt5lYt211mt

Answer:Yt5lYt211mt
14 The term ‘best’ in the best linear unbiased estimators (BLUE) implies :
1 Maximum variance of the estimators
2 Minimum variance of the estimators
3 Average variance of the estimators
4 Unbiased variance of the estimators

Answer:Minimum variance of the estimators
15 In a simultaneous equations system for an over-identified equation the appropriate method of estimation is :
1 Ordinary Least squares Method
2 Indirect Least Squares Method
3 Two-stage Least Squares Method
4 Limited information maximum Likelyhood Method

Answer:Two-stage Least Squares Method

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