MCQOPTIONS
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MCQOPTIONS
This section includes 120 Mcqs, each offering curated multiple-choice questions to sharpen your Geology knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
The concept of consumers surplus was first formulated by |
| A. | Marshall |
| B. | Keynes |
| C. | Robertson |
| D. | Dupuit |
| Answer» E. | |
| 2. |
The concept of functional finance was first stated by |
| A. | J.M. Keynes |
| B. | A.P. Lerner |
| C. | Prof. Hansen |
| D. | L.G. Reynold |
| Answer» C. Prof. Hansen | |
| 3. |
Number of types of elasticity demand is |
| A. | Two |
| B. | Three |
| C. | Four |
| D. | Five |
| Answer» C. Four | |
| 4. |
When the total Utility increases by the Consumption of a commodity, it is called |
| A. | Positive Marginal Utility |
| B. | Zero Marginal Utility |
| C. | Negative Marginal Utility |
| D. | Total Utility |
| Answer» B. Zero Marginal Utility | |
| 5. |
Which law assumes "Other things remaining constant" |
| A. | Price theory |
| B. | Demand theory |
| C. | Supply theory |
| D. | Cost theory |
| Answer» C. Supply theory | |
| 6. |
Chamberlin's Monopolistic competition is an exercise in |
| A. | Economic Dynamics |
| B. | Macro economics |
| C. | Economic Statics |
| D. | Fiscal economics |
| Answer» D. Fiscal economics | |
| 7. |
Wagner's hypothesis is related to |
| A. | Public Debt |
| B. | Public Revenue |
| C. | Public Undertakings |
| D. | Public Expenditure |
| Answer» E. | |
| 8. |
In the long-run, the autonomous consumption will be |
| A. | Zero |
| B. | Infinity |
| C. | Remain unchanged |
| D. | Decline but will remain positive |
| Answer» B. Infinity | |
| 9. |
Cumulative Frequency Curve may be used to find the value of |
| A. | Median |
| B. | Mean Deviation |
| C. | Mode |
| D. | Kurtosis |
| Answer» B. Mean Deviation | |
| 10. |
The slope of the LM curve depends upon which of the following |
| A. | Interest elasticity of demand for money |
| B. | Interest elasticity of investment |
| C. | Interest elasticity of income |
| D. | (B) and (C) both |
| Answer» B. Interest elasticity of investment | |
| 11. |
Cohn and Plehn classified public expenditure on the basis of |
| A. | Income |
| B. | Benefit |
| C. | Revenue |
| D. | Utility |
| Answer» C. Revenue | |
| 12. |
Who proposed the zero-based budgeting for the first time |
| A. | Adam Smith |
| B. | Peter Pyhrr |
| C. | Findley Shirras |
| D. | Ragnar Frisch |
| Answer» C. Findley Shirras | |
| 13. |
The non-exclusion principle is related to |
| A. | Merit goods |
| B. | Private goods |
| C. | Public goods |
| D. | Mixed goods |
| Answer» D. Mixed goods | |
| 14. |
"Inflation is unjust and deflation is inexpedient. Of the two, perhaps deflation is the worst." The above statement was given by |
| A. | A.C. Pigou |
| B. | J.R. Hicks |
| C. | J.M. Keynes |
| D. | Alfred Marshall |
| Answer» D. Alfred Marshall | |
| 15. |
A monopolist will have the equilibrium output of his product where the elasticity of his average revenue curve is |
| A. | Equal to unity |
| B. | More than unity |
| C. | Less than unity |
| D. | Zero |
| Answer» B. More than unity | |
| 16. |
The displacement effect hypothesis was formulated by |
| A. | Dalton |
| B. | Musgrave |
| C. | Pigou |
| D. | Peacock and Wiseman |
| Answer» E. | |
| 17. |
Which of the following is not a method for redeeming public debt |
| A. | Capital levy |
| B. | Grants-in-aid |
| C. | Sinking fund |
| D. | Terminal annuities |
| Answer» C. Sinking fund | |
| 18. |
The shape of the production possibility curve under constant opportunity cost is |
| A. | Upward sloping |
| B. | Downward sloping |
| C. | Straight line |
| D. | U-Shape |
| Answer» D. U-Shape | |
| 19. |
According to Rybczynski theorem, commodity prices should by |
| A. | Increasing |
| B. | Decreasing |
| C. | Constant |
| D. | Either (A) or (B) |
| Answer» D. Either (A) or (B) | |
| 20. |
Which among the following is not a measure to correct the balance of payment disequilibrium |
| A. | Devaluation |
| B. | Revaluation |
| C. | Deflation |
| D. | None of the above |
| Answer» E. | |
| 21. |
The factor price equalisation theorem is given by |
| A. | Haberler |
| B. | Samuelson |
| C. | J.S. Mill |
| D. | Mercantilists |
| Answer» C. J.S. Mill | |
| 22. |
The reciprocal demand curve is also known as |
| A. | Offer curve |
| B. | Laffer curve |
| C. | Lorenz curve |
| D. | Phillips curve |
| Answer» B. Laffer curve | |
| 23. |
Which of the following is the assumption of absolute advantage theory of international trade |
| A. | Labour theory of value |
| B. | Absence of transportation cost |
| C. | Absence of technological change |
| D. | All of the above |
| Answer» E. | |
| 24. |
In case of perfect correlation, the two regression lines are |
| A. | Parallel |
| B. | Perpendicular |
| C. | Coincident |
| D. | Inclined to each other |
| Answer» D. Inclined to each other | |
| 25. |
In the case of substitute goods, the elasticity of demand is |
| A. | Zero |
| B. | Unity |
| C. | Negative |
| D. | Positive |
| Answer» E. | |
| 26. |
Under Slutsky's substitution effect, the consumer |
| A. | Moves on a lower indifference curve |
| B. | Moves on a higher indifference curve |
| C. | Remains on same indifference curve |
| D. | All of the above |
| Answer» C. Remains on same indifference curve | |
| 27. |
Whose name is associated with Net Barter Terms of Trade |
| A. | Dorrance |
| B. | J. Viner |
| C. | James Mill |
| D. | Taussig |
| Answer» E. | |
| 28. |
Innovation Theory of Profit is propounded by |
| A. | Hawtrey |
| B. | Schumpeter |
| C. | Knight |
| D. | Hawley |
| Answer» C. Knight | |
| 29. |
Who among the following economists, is associated with Adapted Expectation Hypothesis |
| A. | Lucas |
| B. | Keynes |
| C. | Milton Friedman |
| D. | John Muth |
| Answer» D. John Muth | |
| 30. |
Who among the following is credited with the use of the word "regression" in statistics for the first time |
| A. | Karl Pearson |
| B. | Spearman |
| C. | Francis Galton |
| D. | R A Fisher |
| Answer» D. R A Fisher | |
| 31. |
According to Leibenstein, population growth is a function of |
| A. | Net investment |
| B. | Gross Domestic Product |
| C. | Aggregate consumption |
| D. | Per capita income |
| Answer» E. | |
| 32. |
According to Nurkse, in an underdeveloped country, the inducement to invest in limited by |
| A. | Lack of savings |
| B. | Size of the market |
| C. | Over-consumption |
| D. | Lack of investment opportunities |
| Answer» C. Over-consumption | |
| 33. |
Sigma effect has been given by |
| A. | Domar |
| B. | Harrod |
| C. | Keynes |
| D. | Kalecki |
| Answer» B. Harrod | |
| 34. |
Which of the following is the most important recommendation of the classical economists to solve the problem of unemployment |
| A. | Reducing population |
| B. | Large increase in public expenditure |
| C. | To reduce real wages |
| D. | To reduce money wages |
| Answer» E. | |
| 35. |
Who has used "Spring of Mineral water" analogy in explaining price-output decisions under oligopoly |
| A. | Stakelberg |
| B. | Cournot |
| C. | Edgeworth |
| D. | Hall and Hitch |
| Answer» C. Edgeworth | |
| 36. |
The condition of Pareto optimality holds correct under |
| A. | Monopoly |
| B. | Monopolistic Competition |
| C. | Oligopoly |
| D. | Perfect Competition |
| Answer» E. | |
| 37. |
Who among the following economists emphasized the role of non-economic factors in explaining growth |
| A. | N Kaldor |
| B. | R Harrod |
| C. | RM Solow |
| D. | JR Hicks |
| Answer» B. R Harrod | |
| 38. |
Who said "Interest is a reward for parting with liquidity" |
| A. | Adam Smith |
| B. | David Ricardo |
| C. | Alfred Marshall |
| D. | J.M. Keynes |
| Answer» D. J.M. Keynes | |
| 39. |
Which type of tax is collected for specific purpose |
| A. | Surcharge |
| B. | Cess |
| C. | Custom duty |
| D. | Excise duty |
| Answer» C. Custom duty | |
| 40. |
Increase in cash reserve ratio leads to |
| A. | increase in bank credit |
| B. | decrease in bank credit |
| C. | constant bank credit |
| D. | increase in money supply |
| Answer» B. decrease in bank credit | |
| 41. |
Tax imposed on value of the goods is |
| A. | specific tax |
| B. | value added tax |
| C. | cess |
| D. | Ad valorem tax |
| Answer» E. | |
| 42. |
The upper portion of the kinked demand curve is relatively |
| A. | more inelastic |
| B. | more elastic |
| C. | less elastic |
| D. | inelastic |
| Answer» D. inelastic | |
| 43. |
Legal tender money is also known as |
| A. | credit money |
| B. | paper money |
| C. | fiat money |
| D. | bank money |
| Answer» D. bank money | |
| 44. |
The tertiary sector of an economy refers to |
| A. | service sector |
| B. | primary sector |
| C. | manufacturing sector |
| D. | information technology |
| Answer» B. primary sector | |
| 45. |
"Parallel economy" is equivalent to |
| A. | white money |
| B. | paper money |
| C. | black money |
| D. | bank money |
| Answer» B. paper money | |
| 46. |
Interest is paid for the postponement of |
| A. | consumption |
| B. | saving |
| C. | investment |
| D. | tax payment |
| Answer» C. investment | |
| 47. |
Price theory is known as |
| A. | microeconomics |
| B. | public finance |
| C. | macroeconomics |
| D. | theory of employment |
| Answer» D. theory of employment | |
| 48. |
In which type of unemployment, marginal productivity is zero or near zero |
| A. | Structural |
| B. | Seasonal |
| C. | Disguised |
| D. | Frictional |
| Answer» C. Disguised | |
| 49. |
The lowering of official exchange rate between one country's currency and those of the rest of the world is known as |
| A. | devaluation |
| B. | depreciation |
| C. | appreciation |
| D. | overvaluation |
| Answer» C. appreciation | |
| 50. |
A deflator is a technique of adjustment for change in |
| A. | consumption level |
| B. | income level |
| C. | expenditure level |
| D. | price level |
| Answer» B. income level | |