MCQOPTIONS
Saved Bookmarks
MCQOPTIONS
This section includes 864 Mcqs, each offering curated multiple-choice questions to sharpen your General Knowledge (GK) knowledge and support exam preparation. Choose a topic below to get started.
| 601. |
The domestic production of crude oil in the country is approximately (per day) |
| A. | 44,300 Barrels |
| B. | 57,700 Barrels |
| C. | 65,200 Barrels |
| D. | 70,000 Barrels |
| Answer» C. 65,200 Barrels | |
| 602. |
Money supply is governed by the - |
| A. | Planning Commission |
| B. | Finance Commission |
| C. | Reserve Bank of India |
| D. | Commercial Banks |
| Answer» D. Commercial Banks | |
| 603. |
Under a capitalist system, the economic problem of "what goods" shall be produced is solved primarily by: |
| A. | People advertising their wants |
| B. | Direction by the government |
| C. | The pattern of consumer's spending |
| D. | People producing directly to satisfy their own wants |
| Answer» D. People producing directly to satisfy their own wants | |
| 604. |
Total fixed cost curve is - |
| A. | Vertical |
| B. | Horizontal |
| C. | Positively Sloping |
| D. | Negatively sloping |
| Answer» C. Positively Sloping | |
| 605. |
The term 'Macro Economics' was used by . |
| A. | J.M. Keynes |
| B. | Ragner Frisch |
| C. | Ragner Nurkse |
| D. | Prof. Knight |
| Answer» C. Ragner Nurkse | |
| 606. |
G.N.P. (Gross National Product) is the total value of goods and services: |
| A. | Produced in a country with domestic or foreign factors |
| B. | Produced by the factors belonging to the country working in or out of the country |
| C. | Produced by the factors belonging to the country working abroad |
| D. | None of the above |
| Answer» C. Produced by the factors belonging to the country working abroad | |
| 607. |
The 6th National Finance Commission Award the share of provinces from the federal revenue has been increased from 37.5 percent to: |
| A. | 2002-2003 |
| B. | 2003-2004 |
| C. | 2004-2005 |
| D. | 2005-2006 |
| Answer» C. 2004-2005 | |
| 608. |
Under the 6th National Finance Commission Award the share of provinces from the federal revenue has been increased from 37.5 percent to: |
| A. | 38% |
| B. | 39% |
| C. | 40% |
| D. | 42% |
| Answer» D. 42% | |
| 609. |
The share from federal revenue is given to the provinces according to their:- |
| A. | Backwardness |
| B. | Population |
| C. | Area |
| D. | None of the above |
| Answer» C. Area | |
| 610. |
Golden Handshake Scheme is associated with - |
| A. | Inviting foreign companies |
| B. | Private investment in public enterprises |
| C. | Establishing joint enterprises |
| D. | Voluntary retirement |
| Answer» E. | |
| 611. |
'Golden Handshake Scheme' is associated with - |
| A. | inviting foreign companies |
| B. | private investment in public enterprises |
| C. | establishing joint enterprises |
| D. | voluntary retirement |
| Answer» E. | |
| 612. |
Which of the following most closely approximates our definition of oligopoly? |
| A. | The cigarette industry |
| B. | The barber shops |
| C. | The gasoline stations |
| D. | Wheat farmers |
| Answer» B. The barber shops | |
| 613. |
Malthusian theory is associated with which of the following? |
| A. | Poverty |
| B. | Employment |
| C. | Diseases |
| D. | Population |
| Answer» E. | |
| 614. |
Who was awarded Nobel Prize of Economics in 1998? |
| A. | Ragnar Frisch |
| B. | Jan Tinbergen |
| C. | Amartya Sen |
| D. | Paul Anthony Samuelson |
| Answer» D. Paul Anthony Samuelson | |
| 615. |
Who got the first Nobel Prize in Economics in 1969? |
| A. | Jan Tinbergren |
| B. | Ragnar Frisch |
| C. | Sir John Richard Hicks |
| D. | Both a and b |
| Answer» E. | |
| 616. |
According to the classical system, saving is a function of - |
| A. | Income |
| B. | The interest rate |
| C. | The real wage |
| D. | The Price level |
| Answer» B. The interest rate | |
| 617. |
What is Game Theory? |
| A. | The branch of economics concerned with representing economic interactions in a highly stylized form with players pays-off and strategies. |
| B. | The branch of economics that uses mathematical methods and models e.g., calculus: statistics, probability etc |
| C. | The branch of economies related with the aggregate or overall, economy. |
| D. | The branch of economics that deals with small units, including individual companies and small group of consumers |
| Answer» B. The branch of economics that uses mathematical methods and models e.g., calculus: statistics, probability etc | |
| 618. |
Movement along the same demand curve is know as - |
| A. | Extension and Contraction of Demand |
| B. | Increase and Decrease of Demand |
| C. | Contraction of supply |
| D. | Increase of supply |
| Answer» C. Contraction of supply | |
| 619. |
'Mixed economy' refers to - |
| A. | the co-existence of heavy, small scale and cottage industries |
| B. | the promotion of agriculture as well as cottage industries |
| C. | the co-existence of rich as well as poor |
| D. | the co-existence of public as well as private sector |
| Answer» E. | |
| 620. |
A mixed economy works primarily through the - |
| A. | market mechanism |
| B. | central allocative machinery |
| C. | market mechanism regulated by Government policy |
| D. | market mechanism guided by Government participation and planning |
| Answer» E. | |
| 621. |
The book which is at the centrepiece of the study of Macro - Economics was written by - |
| A. | Prof. Samuelson |
| B. | Prof. J.M. Keynes |
| C. | Prof. Benham |
| D. | Prof. Baumol |
| Answer» C. Prof. Benham | |
| 622. |
Which of the following occurs when labour productivity rises? |
| A. | The equilibrium nominal wage falls. |
| B. | The equilibrium quantity of labour falls. |
| C. | Competitive firms will be induced to use more capital |
| D. | The labour demand curve shifts to the right |
| Answer» E. | |
| 623. |
Division of labour is the result of - |
| A. | Complicated work |
| B. | excessive pressure |
| C. | excess supply of labour |
| D. | specialization |
| Answer» E. | |
| 624. |
When the total product rises at an increasing rate, the - |
| A. | marginal product is zero |
| B. | marginal product is rising |
| C. | marginal product is falling |
| D. | marginal product remains constant |
| Answer» C. marginal product is falling | |
| 625. |
The Women s Division was created in the Federal Government in January: |
| A. | 1974 |
| B. | 1977 |
| C. | 1979 |
| D. | 1981 |
| Answer» B. 1977 | |
| 626. |
NIFTY is associated with - |
| A. | Cloth Market Price Index |
| B. | Consumer Price Index |
| C. | BSE Index |
| D. | NSE Index |
| Answer» E. | |
| 627. |
'NABARD' is associated with the development of - |
| A. | agricultural sector and rural areas |
| B. | heavy Industries |
| C. | banking sector |
| D. | real estates |
| Answer» B. heavy Industries | |
| 628. |
'Residex' is associated with - |
| A. | Share prices |
| B. | Price inflation |
| C. | Mutual fund prices |
| D. | Land prices |
| Answer» E. | |
| 629. |
An indifference curve measures the same level of - |
| A. | Output from two factors |
| B. | Satisfaction from two commodities |
| C. | Satisfaction from Income and Capital |
| D. | Satisfaction from expenditure and savings |
| Answer» C. Satisfaction from Income and Capital | |
| 630. |
1994 Nobel Prize for Economics was awarded to a American mathematician for his most important concept of equilibrium as applied to game theory. His name was |
| A. | John Nash |
| B. | Reinhard Selten |
| C. | John Harsanyi |
| D. | All of the above |
| Answer» B. Reinhard Selten | |
| 631. |
As er the TRIPS Agreement-1994, a good originating from a region with specific character/ quality/reputation is covered/to be protected under the IPR as - |
| A. | Patent |
| B. | Trademark |
| C. | Trade secret |
| D. | GI (Geographical Indicator) |
| Answer» E. | |
| 632. |
Personal Income' equals - |
| A. | The household sector's in-come |
| B. | Private income minus savings of the corporate sector minus corporation tax |
| C. | Personal disposable income plus miscellaneous receipts of the Goverment |
| D. | All of the above |
| Answer» D. All of the above | |
| 633. |
Which of the following is/are characteristics of mixed economics? |
| A. | Subsidies for some industries |
| B. | The operation of the market economy in parts of the economy |
| C. | Government control of some industries |
| D. | All the above |
| Answer» E. | |
| 634. |
Which of the following does not determine supply of labour? |
| A. | Size and age-structure of population |
| B. | Nature of work |
| C. | Marginal productivity of labour |
| D. | Work-leisure ratio |
| Answer» D. Work-leisure ratio | |
| 635. |
The demand for labour is called - |
| A. | Market demand |
| B. | Direct demand |
| C. | Derived demand |
| D. | Factory demand |
| Answer» D. Factory demand | |
| 636. |
Division of labour is limited by - |
| A. | the number of workers |
| B. | hours of work |
| C. | extent of the market |
| D. | working space |
| Answer» D. working space | |
| 637. |
Any physical object, natural or man made, or service renderal: that could command a price in market is called: |
| A. | Consumer Goods |
| B. | Final Goods |
| C. | Economic Goods |
| D. | All of the above |
| Answer» D. All of the above | |
| 638. |
Same price prevails throughout the market under - |
| A. | perfect competition |
| B. | monopoly |
| C. | monopolistic competition |
| D. | oligopoly |
| Answer» B. monopoly | |
| 639. |
Over short period, when income rises, average propensity to consume usually - |
| A. | rises |
| B. | falls |
| C. | remains constant |
| D. | fluctuates |
| Answer» C. remains constant | |
| 640. |
Fixed cost is known as - |
| A. | Special cost |
| B. | Direct cost |
| C. | Prime cost |
| D. | Overhead cost |
| Answer» E. | |
| 641. |
The total demand of power (electricity) in the country at present is approximately: |
| A. | 7000 mw |
| B. | 9000 mw |
| C. | 12000 mw |
| D. | 14000 mw |
| Answer» C. 12000 mw | |
| 642. |
When marginal utility is zero, the total utility is - |
| A. | Minimum |
| B. | Increasing |
| C. | Maximum |
| D. | Decreasing |
| Answer» D. Decreasing | |
| 643. |
Capital : Output Ratio of a measures - |
| A. | its per unit cost of production |
| B. | the amount of capital invested per unit of output |
| C. | the ratio of capital depreciation to quantity of output |
| D. | the ratio of working capital employed to quantity of output |
| Answer» C. the ratio of capital depreciation to quantity of output | |
| 644. |
What is the main reason of the flour crisis in the country? |
| A. | Wheat sowing area has been replaced with sugar cane crop by the farmers. |
| B. | A large portion of wheat Crop has been damaged by pests. |
| C. | Smuggling of wheat flour to other country |
| D. | None of the above |
| Answer» D. None of the above | |
| 645. |
Which of the following economists is called the Father of Economics? |
| A. | Malthus |
| B. | Robinson |
| C. | Ricardo |
| D. | Adam Smith |
| Answer» E. | |
| 646. |
The branch of economics at the level of individual consumers groups of consumers or firms is known as: |
| A. | Macroeconomics |
| B. | Econometrics |
| C. | Microeconomics |
| D. | Keynesian Economics |
| Answer» D. Keynesian Economics | |
| 647. |
The Marginal Utility Curve slopes downward from left to right indicating - |
| A. | A direct relationship between marginal utility and the stock of commodity |
| B. | A constant relationship between marginal utility and the stock of commodity |
| C. | A proportionate relation-ship between marginal utility and the stock of commodity |
| D. | An inverse relationship between marginal utility and the stock of commodity |
| Answer» E. | |
| 648. |
"Marginal Cost" equals - |
| A. | total cost minus total benefit for the last unit produced |
| B. | total cost divided by total benefit for the last unit produced |
| C. | total cost divided by quantity |
| D. | the change in total cost divided by the change in quantity |
| Answer» E. | |
| 649. |
The lowest price below which a thing will not be sold is called its: |
| A. | Floor price |
| B. | Ceiling price |
| C. | Real price |
| D. | Average price |
| Answer» B. Ceiling price | |
| 650. |
The supply of labour in the economy depends on - |
| A. | Population |
| B. | National income |
| C. | Per capita income |
| D. | Natural resources |
| Answer» B. National income | |