Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 35

Sports GK Questions and Answers 2024 (Latest Updated)

Awards & Honours GK Questions 2024 (Latest Updated)

Questions
1 Lump sum grant means :
1 A grant whose amount is sufficient to meet the expenditure.
2 A matching and conditional grant.
3 Grant given for a special purpose and it can be utilised only for that purpose.
4 A grant whose amount is not dependent on any matching effort of the recipient.

Answer: A grant whose amount is not dependent on any matching effort of the recipient.
2 Geometric mean of Laspeyre’s and Paasche’s indices provides :
1 Marshall-Edgeworth Index
2 Bowley’s Index
3 Fisher’s Index
4 Kelley’s Index

Answer:EFisher’s Index
Advertisement
Article and Schedule Quiz Start Test!
DOWNLOAD CURRENT AFFAIRS PDF FROM APP
3 Which one of the following denotes the power of the Test ? [α is probability of Type I error and β is probability of Type II error]
1 α
2 β
3 1 – α
4 1 – β

Answer:1 – β
4 In a frequency distribution the standard deviation of which is 15.8, the value of median is more than mean by 4, what will be its coefficient of skewness ?
1 – 0.76
2 + 0.76
3 – 0.86
4 + 0.86

Answer:– 0.76
5 In a frequency distribution if each item is multiplied by 5, the coefficient of variation will remain
1 unchanged
2 will be multiplied by 5
3 will be multiplied by 25
4 will be multiplied by 1/5

Answer:unchanged
6 Demand for foodstuff is income inelastic. This is explained by
1 Giffen’s Paradox
2 Engel’s Law
3 Gossen’s Law
4 Ricardo’s Law

Answer:Engel’s Law
7 Non-symmetric risk means :
1 A risk that can be eliminated by diversifying.
2 A risk that cannot be eliminated by diversifying.
3 A risk that can be eliminated without diversifying.
4 A risk that cannot be eliminated.

Answer: A risk that can be eliminated by diversifying.
8 Who among the following economists developed the concept of ‘Barriers to Entry’ of firms ?
1 J.S. Bain
2 W.J. Baumol
3 Alfred Marshall
4 W.S. Jevons

Answer:J.S. Bain
9 Even as fixed average cost continues to fall, the average variable cost begins to rise because
1 returns to factors start diminishing
2 returns to factors start rising
3 input prices start rising
4 producers budget starts shrinking

Answer:producers budget starts shrinking
10 Which among the following is not a characteristic of Imperfect Competition ?
1 Perfect knowledge
2 Free transport
3 Free Entry of firms
4 Homogeneous product

Answer:Perfect knowledge
11 Which among the following were neglected by Keynes in his theory of employment ?
1 Role of expectations
2 Role of capital stock
3 Role of consumption
4 Role of government

Answer:Role of capital stock
12 The theoretical proposition of stable velocity of money is being weakened by the recent researchers. This has the effect of weakening the position of
1 Keynesians
2 Monetarists
3 New Classicals
4 Utopians

Answer:Monetarists
13 Which of the following is the correct assumption for the Lewis two sector model ?
1 High unemployment in urban sector
2 Rising real wages
3 High marginal productivity in the rural sector
4 Surplus labour in the rural sector

Answer:Surplus labour in the rural sector
14 Which of the following is a major indivisibility of Rosenstein-Rodan Model of development ?
1 Services
2 Agriculture
3 Infrastructure
4 Supply

Answer:Supply
15 Which among the following statement is true for Marxian model of development ?
1 Change in Mode of production and Relations in production happen simultaneously.
2 Change in Mode of production follows change in Relations in production.
3 Change in Mode of production precedes the change in Relations in production.
4 Relations in production are not important.

Answer:Change in Mode of production precedes the change in Relations in production.

View All Economics Practice Test Sets

Random GK Questions

Take Mock Tests

Missiles Mock Test Start Test!
SSC MTS Mock Test Start Test
IBPS CLERK MOCK TEST Start Test
SSC MTS 2022 JULY 26 Shift 1 (ENGLISH) Start Test!
SSC GD Previous Year Paper 2021 Nov 17 Shift - I (Hindi) Start Test!
SSC CGL Tier - 1 PYP 2022 April 21 Shift- 1 (ENGLISH) Start Test!
MPSC PAPER I MOCK TEST 1 (ENGLISH) Start Test!
IB Security Assistant Mock test 1 (english) Start Test!
UP POLICE CONSTABLE MOCK TEST 1 Start Test!
DELHI POLICE CONSTABLE MOCK TEST 1 (HINDI) Start Test!