MCQOPTIONS
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MCQOPTIONS
This section includes 657 Mcqs, each offering curated multiple-choice questions to sharpen your Testing Subject knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
Who among the following released 'Citizens guide to fight corruption' ? |
| A. | Ministry of Family Welfare |
| B. | Consumer Co-operative Societies |
| C. | Central Vigilence Commission |
| D. | Transparency International |
| Answer» E. | |
| 2. |
Who was the author of the book 'India's Economic Policy: The Gandhian Blue Print ? |
| A. | Chaudhary Charan Singh |
| B. | Jai Prakash Narayan |
| C. | Man Mohan Singh |
| D. | Acharya Vinoba Bhave |
| Answer» B. Jai Prakash Narayan | |
| 3. |
Under Gadgil-Mukerjee formula the higher weithage is given to : |
| A. | Performance |
| B. | Per Capita Income |
| C. | Population |
| D. | special Problems |
| Answer» D. special Problems | |
| 4. |
Rangachari Committee is associated with which one of the following ? |
| A. | Pricing and taxation of Petroleum Products |
| B. | Estimation of National Income |
| C. | Tax Structure |
| D. | Estimation of Money Supply |
| Answer» B. Estimation of National Income | |
| 5. |
A community's stock of wealth is accounted for by the : |
| A. | Aggregate of capital and consumer goods |
| B. | Gross investment minus depreciation |
| C. | Standard of living of the people |
| D. | Net increase in invisible and intangible goods |
| Answer» B. Gross investment minus depreciation | |
| 6. |
Given below are a few abbreviations and the areas with which they are associated. Match them properly using the given codes: List-I: (Abbreviations) A. OGL, FOB B. SJRY, TRYSEM C. WPI, CPI D. CRR, SLR LIST- II (Areas) 1. Employment 2. External Trade 3. Banking 4. Index Numbers |
| A. | A2B1C4D3 |
| B. | A2B4C3 D1 |
| C. | A4B3C2D1 |
| D. | A3B2C1D4 |
| Answer» B. A2B4C3 D1 | |
| 7. |
Which one of the following situations makes a firm most efficient ? |
| A. | Falling average cost |
| B. | Raising average cost |
| C. | Constant average cost |
| D. | Lowest average cost |
| Answer» E. | |
| 8. |
The view that Planning in India should, in future pay more attention to the people than to commodities was given by : |
| A. | Amartya Sen |
| B. | Yashwant Sinha |
| C. | Atal Behari Vajpayee |
| D. | Man Mohan Singh |
| Answer» B. Yashwant Sinha | |
| 9. |
J.J.Irani Committee has been set up to suggest changes in : |
| A. | Indian Telegraph Act |
| B. | Cable Act |
| C. | Companies Act |
| D. | Patent Act |
| Answer» D. Patent Act | |
| 10. |
Who got the 1998 Nobel Prize in Economics ? |
| A. | Solow |
| B. | Marshall |
| C. | Amartya Sen |
| D. | Paul Samuelson |
| Answer» D. Paul Samuelson | |
| 11. |
olden Hand Shake Schemein India is related with: |
| A. | Voluntary Retirement |
| B. | Indian Gold Dealers |
| C. | Foreign Gold Dealers in India |
| D. | Promoting Trade in Gold |
| Answer» B. Indian Gold Dealers | |
| 12. |
In the present context of socio-economic development the concept of meeting the needs of the present without compromising the ability of future generations to meet their needs' is popularly known as the concept of : |
| A. | Sustainable Development |
| B. | Uniform Growth |
| C. | Target-driven Growth |
| D. | No risk-No gain5)Social Viability |
| Answer» B. Uniform Growth | |
| 13. |
Which of the following committees recommended the revival of Co-operative Credit Institution in States ? |
| A. | Vaidyanathan Committee |
| B. | Rangrajan Committee |
| C. | Sachchar Committee |
| D. | Rakesh Mohan Committee |
| Answer» B. Rangrajan Committee | |
| 14. |
When the growth of GDP in a country slows down suddenly, people start losing their jobs and the situation continues for several weeks, what name is given to this state of economy ? |
| A. | Inflation |
| B. | Recession |
| C. | Deflation |
| D. | Economic Boom5)None of these |
| Answer» C. Deflation | |
| 15. |
When the price of a commodity falls, we can expect: |
| A. | the supply of it to increase |
| B. | the demand for it to fall |
| C. | the demand for it to stay constant |
| D. | the demand for it to increase |
| Answer» E. | |
| 16. |
The excess of price-- a person is to pay rather than forego the consumption of the commodity is called: |
| A. | Price |
| B. | Profit |
| C. | Producer's surplus |
| D. | Consumer Surplus |
| Answer» D. Consumer Surplus | |
| 17. |
Utility in economics means the capacity to : |
| A. | Provide comforts |
| B. | earn in income |
| C. | Satisfy human wants |
| D. | Satisfy human motives |
| Answer» D. Satisfy human motives | |
| 18. |
Which one of the following would Not constitute an economic activity ? |
| A. | A teacher teaching students in his class |
| B. | A teacher teaching students under Sarva Shiksha Abhiyan |
| C. | A teacher providing cunsultancy services from his residence |
| D. | A teacher teaching his own daughter at home |
| Answer» E. | |
| 19. |
The terms Micro Economics and Macro Economics were coined by: |
| A. | Alfred Marshall |
| B. | Ragner Nurkse |
| C. | Ragner Frisch |
| D. | J.M.Keynes |
| Answer» D. J.M.Keynes | |
| 20. |
Economics is what it ought to be. This statement refer to : |
| A. | Normative Economics |
| B. | Positive Economics |
| C. | Monetary Economics |
| D. | Fiscal Economics |
| Answer» B. Positive Economics | |
| 21. |
A want becomes a demand only when it is backed by the : |
| A. | Ability to purchase |
| B. | Necessity to buy |
| C. | Desire to buy |
| D. | Utility of the product |
| Answer» B. Necessity to buy | |
| 22. |
Opportunity cost of production of a commodity is : |
| A. | The cost that the firm could have incurred when a different technique was adopted. |
| B. | The cost that the firm could have incurred under a different method of production |
| C. | The actual cost incurred |
| D. | The next best alternative output sacrificed |
| Answer» E. | |
| 23. |
Labour Intensive Technique would get choosen in a : |
| A. | Labour Surplus Economy |
| B. | Capital Surplus Economy |
| C. | Developed Economy |
| D. | Developing Economy |
| Answer» B. Capital Surplus Economy | |
| 24. |
Surplus earned by a factor other than land in the short period is referred to as : |
| A. | Economic rent |
| B. | Net rent |
| C. | quasi-rent |
| D. | Super-normal rent |
| Answer» D. Super-normal rent | |
| 25. |
Demonstration effect means: |
| A. | effect of advertisement |
| B. | imitating effect of consumption |
| C. | effect of entertainment |
| D. | effect of an experiment |
| Answer» C. effect of entertainment | |
| 26. |
If two commodities are complements then their cross price elasticity is : |
| A. | Zero |
| B. | Positive |
| C. | Negative |
| D. | Imaginary number |
| Answer» D. Imaginary number | |
| 27. |
Laissez-faire is a feature of: |
| A. | Socialism |
| B. | Communism |
| C. | Capitalism |
| D. | Mixed economy |
| Answer» D. Mixed economy | |
| 28. |
In which type of competition does Marginal Revenue Curve coincide with Average Revenue Curve ? |
| A. | Monopoly |
| B. | Imperfect Competition |
| C. | Perfect Competition |
| D. | Monopolistic Competition |
| Answer» D. Monopolistic Competition | |
| 29. |
Homogeneous product is a feature of : |
| A. | Imperfect market |
| B. | Monopoly |
| C. | Oligopoly |
| D. | Perfect competition |
| Answer» E. | |
| 30. |
Noble Prize winning Indian Amartya Sen is known for his work in which area ? |
| A. | Physics |
| B. | Environmental Protection |
| C. | Chemistry |
| D. | Economics |
| Answer» E. | |
| 31. |
According to J.A. Schumpeter, entrepreneurs are entitled to enjoy the profit for their ---------activities. |
| A. | innovative |
| B. | risk taking |
| C. | risk averting |
| D. | hard work |
| Answer» B. risk taking | |
| 32. |
The relationship between the value of money and the price level in an economy is : |
| A. | Direct |
| B. | Inverse |
| C. | Proportional |
| D. | Stable |
| Answer» C. Proportional | |
| 33. |
For price discrimination to be successful, the elasticity of demand for the product in the two markets should be : |
| A. | Same |
| B. | Different |
| C. | Constant |
| D. | Zero |
| Answer» C. Constant | |
| 34. |
Production function explains the relationship between : |
| A. | initial inputs and ultimate output |
| B. | inputs and ultimate consumption |
| C. | output and consumption |
| D. | output and exports |
| Answer» B. inputs and ultimate consumption | |
| 35. |
Revealed Preference Theory was propounded by : |
| A. | Adam Smith |
| B. | Marshall |
| C. | P.A.Samuelson |
| D. | J.S.Mill |
| Answer» D. J.S.Mill | |
| 36. |
An exceptional demand curve is one that moves : |
| A. | Upward to the right |
| B. | downward to the right |
| C. | horizontally |
| D. | vertically |
| Answer» B. downward to the right | |
| 37. |
When average cost of production falls, marginal cost of production must be: |
| A. | rising |
| B. | falling |
| C. | greater than the average cost |
| D. | less than the average cost |
| Answer» E. | |
| 38. |
The law of demand expresses |
| A. | effect of change in price of a commodity on its demand. |
| B. | effect of change in demand of a commodity on its price. |
| C. | effect of change in demand of a commodity over the supply of its substitute |
| D. | None of the above |
| Answer» C. effect of change in demand of a commodity over the supply of its substitute | |
| 39. |
A fall in demand or rise in supply of a commodity : |
| A. | increases the price of that commodity |
| B. | decreases the price of that commodity |
| C. | neutralises the changes in the price |
| D. | determines the price elasticity |
| Answer» C. neutralises the changes in the price | |
| 40. |
In Economics the terms Utility and Usefulness have: |
| A. | Same meaning |
| B. | Different meaning |
| C. | Opposite meaning |
| D. | none of these |
| Answer» C. Opposite meaning | |
| 41. |
Who said Economics is the Science of Wealth ? |
| A. | Adam Smith |
| B. | Robbin |
| C. | J.S. Mill |
| D. | Keynes |
| Answer» B. Robbin | |
| 42. |
Production function expresses: |
| A. | technological relationship between physical inputs and outputs. |
| B. | financial relationship between physical inputs and output |
| C. | relationship between finance and techology |
| D. | relationship between factors of procution |
| Answer» C. relationship between finance and techology | |
| 43. |
Extension or contraction of quantity demanded of a commodity is a result of change in the: |
| A. | Unit price of the commodity |
| B. | income of the consumer |
| C. | tastes of the consumer |
| D. | climate of the region |
| Answer» B. income of the consumer | |
| 44. |
Interest is a reward for parting with liquidity for a specific period is according to: |
| A. | Keynes |
| B. | Marshall |
| C. | Haberler |
| D. | Ohlin |
| Answer» B. Marshall | |
| 45. |
What is needed for creating demand |
| A. | Production |
| B. | Price |
| C. | Income |
| D. | Import |
| Answer» C. Income | |
| 46. |
Who among the following is NOT a classical economist ? |
| A. | David Ricardo |
| B. | John Stuart Mill |
| C. | Thomal Malthus |
| D. | John Maynard Keynes |
| Answer» C. Thomal Malthus | |
| 47. |
An expenditure that has been made and cannot be recovered is called: |
| A. | Variable cost |
| B. | Opportunity cost |
| C. | Sunk Cost |
| D. | Operational cost |
| Answer» D. Operational cost | |
| 48. |
Pro. Amartiya Sen was awarded Nobel Prize for his contribution to the field of : |
| A. | Food and famines |
| B. | Welfare economics |
| C. | Indian Economy |
| D. | Poverty |
| Answer» C. Indian Economy | |
| 49. |
Nobel Prize in which field is Not paid out of the endowment set up by Dr.Alfred Nobel ? |
| A. | Peace |
| B. | Medicine |
| C. | Chemistry |
| D. | Economics |
| Answer» E. | |
| 50. |
Who propounded the market law ? |
| A. | Adam Smith |
| B. | J.B.Say |
| C. | T.R. Malthus |
| D. | David Ricardo |
| Answer» C. T.R. Malthus | |