JOIN ADRE 2.0 Telegram Group

Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 38

Questions
1 Given that LM function is Y = 100 + 10i and the IS function is Y = 160 – 20i, find the correct value of equilibrium level of income and rate of interest from the given options.
1 120 and 2
2 90 and 3
3 150 and 2
4 120 and 3

Answer:120 and 2
2 Who distinguished between value in use and value in exchange and gave the famous example of diamonds and water ?
1 Adam Smith
2 David Ricardo
3 Alfred Marshall
4 Karl Marx

Answer: Adam Smith
Advertisement
Article and Schedule Quiz Start Test!

DOWNLOAD CURRENT AFFAIRS PDF FROM APP

3 Predatory pricing policy is designed to
1 drive competitors out of business
2 maximise profits
3 encourage entrants into the market
4 attain least cost output

Answer:drive competitors out of business
4 When income effect becomes stronger than substitution effect, the labour supply curve will
1 Slope positively
2 Negatively sloped
3 Bend backward
4 Slope upwards

Answer: Bend backward
5 An industry whose long run supply curve is horizontal is called
1 Constant cost industry
2 Increasing Cost Industry
3 Decreasing Cost Industry
4 Efficient Industry

Answer:Constant cost industry
6 The practice of charging each consumer the reservation price is called
1 Peak load pricing
2 Inter-temporal price discrimination
3 First degree price discrimination
4 Third degree price discrimination

Answer:Lack of capital account convertibility
7 Frictional unemployment is also known as
1 Disguised unemployment
2 Turnover unemployment
3 Cyclical unemployment
4 Structural unemployment

Answer: Turnover unemployment
8 The full capacity growth rate in Harrod-Domar Model is also known as
1 Actual growth rate
2 Warranted growth rate
3 Natural growth rate
4 Expected growth rate

Answer:Warranted growth rate
9 Meetingthe needs of present generation without compromising the needs of future generation is
1 Economic Development
2 Social Development
3 Sustainable Development
4 Economic Growth

Answer:Economic Growth
10 Single out the activity that is not included in the Industrial Production Index of India :
1 Manufacturing
2 Construction
3 Mining
4 Electricity

Answer:Construction
11 High growth of which industry provides a positive signal for industrial growth in future ?
1 Capital goods industries
2 Basic goods industries
3 Durable consumer goods industries
4 Intermediate goods industries

Answer: Capital goods industries
12 An example of a Euro currency is
1 a dollar deposit outside the U.S.
2 a pound sterling deposit within UK
3 a mark deposit with Germany
4 All of the above

Answer:a dollar deposit outside the U.S.
13 Which of the following tax has ‘announcement effect’ ?
1 Income tax
2 Excise Duties
3 Property tax
4 Capital gains taxation

Answer:Excise Duties
14 Given arithmetic mean = 45, mode = 48, then median =
1 45
2 48
3 49
4 46

Answer:46
15 If two events A and B are mutually inclusive, then P(A or B) is
1 P(A) + P(B) – P(AB)
2 P(A) + P(B) + P(AB)
3 P(A) + P(B)
4 P(A) P(B)

Answer:P(A) + P(B)

View All Economics Practice Test Sets

ADRE 2.0 FULL LENGTH MOCK TEST

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!
Advertisement