MCQOPTIONS
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MCQOPTIONS
This section includes 1254 Mcqs, each offering curated multiple-choice questions to sharpen your General Knowledge knowledge and support exam preparation. Choose a topic below to get started.
| 351. |
The law of increasing opportunity costs states that |
| A. | along a production possibilites curve, increases in the production of one good make the production of that good easier and easier |
| B. | increases in wages cause increases in the costs of production |
| C. | costs of production increases and then decreases |
| D. | along a production possibilities curve, increases in the production of one good require larger and larger sacrifices of the other good |
| Answer» E. | |
| 352. |
The law of diminishing returns indicates that_x005F_x000D_ |
| A. | always diminish |
| B. | eventually diminish |
| C. | always diminish before increasing |
| D. | never diminish before increasing |
| Answer» C. always diminish before increasing | |
| 353. |
The law of demand states that other things equal |
| A. | as the price increases, the quantity demanded will decrease. |
| B. | as the price increases, the quantity demanded will increase. |
| C. | as the price decreases, the demand curve will shift to the right. |
| D. | as the price increases, the demand will decrease. |
| Answer» B. as the price increases, the quantity demanded will increase. | |
| 354. |
The law of demand states that |
| A. | if the price of a good increases, the demand for that good decreases. |
| B. | if the price of a good increases, the the demand for that good increases. |
| C. | if the price of a good increases, the quantity demanded of that good decreases. |
| D. | if the price of a good increases, the quantity demanded of that good increases. |
| Answer» D. if the price of a good increases, the quantity demanded of that good increases. | |
| 355. |
The Law of Demand is based on the concept that people _______. |
| A. | buy more of a good as their income increases. |
| B. | buy more of a good as the price of the good falls. |
| C. | will spend all of their money on something. |
| D. | want more of everything even if they have no money to buy anything. |
| Answer» C. will spend all of their money on something. | |
| 356. |
The law of demand implies that |
| A. | the higher the price of a good, the lesser the quantity demanded |
| B. | the higher the price of a good, the higher the quantity demanded |
| C. | the higher the quantity demanded, the higher the price of a good |
| D. | All of the above |
| Answer» B. the higher the price of a good, the higher the quantity demanded | |
| 357. |
The latest information about agriculture markets is collected and published by the ___________. |
| A. | Food Corporation of India |
| B. | Directorate of Economics and Statistics |
| C. | National Council of Applied Economic Research |
| D. | Indian Statistical Institute |
| Answer» C. National Council of Applied Economic Research | |
| 358. |
The largest expenditure component of GDP is |
| A. | Consumption |
| B. | Net exports |
| C. | Government spending |
| D. | Investments |
| Answer» B. Net exports | |
| 359. |
The largest proportion of federal revenues comes from |
| A. | borrowing |
| B. | excise taxes |
| C. | social insurance taxes |
| D. | personal income taxes |
| Answer» E. | |
| 360. |
The largest river of Penisular India is |
| A. | Narmada |
| B. | Godavari |
| C. | Mahanadi |
| D. | Cauvery |
| Answer» C. Mahanadi | |
| 361. |
The Largest Component of National Income is |
| A. | Proprietors Income |
| B. | Compensation of Employees |
| C. | Corporate Profits |
| D. | Rental Income |
| Answer» C. Corporate Profits | |
| 362. |
The largest component of GDP is |
| A. | income |
| B. | wages |
| C. | consumption |
| D. | imports |
| Answer» D. imports | |
| 363. |
The innovation theory of profit was proposed by |
| A. | Marshall |
| B. | Clark |
| C. | Schumpeter |
| D. | Joan Robbinson |
| Answer» D. Joan Robbinson | |
| 364. |
The Korba coalfield is located in |
| A. | Orissa |
| B. | West Bengal |
| C. | Chhttisgarh |
| D. | Assam |
| Answer» D. Assam | |
| 365. |
The international trade effect states that |
| A. | an increase in the price level will lower net exports. |
| B. | an increase in the price level will raise exports. |
| C. | an increase in the price level will raise net exports. |
| D. | an increase in the price level will lower imports |
| Answer» B. an increase in the price level will raise exports. | |
| 366. |
The Income elasticity demand for farm products is |
| A. | High in India |
| B. | No demand at all |
| C. | Very low in India |
| D. | High supply and no demand |
| Answer» D. High supply and no demand | |
| 367. |
The increase in Literacy rate in India during 1991-2001 is |
| A. | 0.108 |
| B. | 0.126 |
| C. | 0.143 |
| D. | 0.155 |
| Answer» C. 0.143 | |
| 368. |
The 'IFSC Code' is an alphanumeric code comprising 11 characters that facilitates Electronic Fund Transfer in the country. The alphabet 'F' in the abbreviation 'IFSC' stands for ? |
| A. | Fund |
| B. | Fast |
| C. | Financial |
| D. | First |
| Answer» D. First | |
| 369. |
The Human Development Index was developed by ....... in 1990_x005F_x000D_ |
| A. | Mahbub Khan |
| B. | Apara Sen |
| C. | Syed-ul-Haq |
| D. | Mahbub-ul-Haq and Amartya Sen |
| Answer» E. | |
| 370. |
The GST (Goods and Services Tax), recently passed by Government will be levied on which of the following products? |
| A. | Petroleum Crude |
| B. | Tobacco |
| C. | Natural Gas |
| D. | Aviation Turbine Fuel |
| Answer» C. Natural Gas | |
| 371. |
The head quarters of World Trade Organisation(WTO) are at |
| A. | Rome |
| B. | Geneva |
| C. | Doha |
| D. | New York |
| Answer» C. Doha | |
| 372. |
The greater is the marginal propensity to consume, the |
| A. | lower is the price level |
| B. | smaller is the marginal propensity to save |
| C. | lower is the average propensity to consume |
| D. | higher is the interest rate |
| Answer» C. lower is the average propensity to consume | |
| 373. |
The Government of India has decided to declare which of the following rivers a ' National River ' |
| A. | Yamuna |
| B. | Kaveri |
| C. | Ganga |
| D. | None of these |
| Answer» D. None of these | |
| 374. |
The Government of India recently decided to create a 'Specific Financing Window ' for its ' Mega Bharat Nirman Programme ' . This specific financing window will operate through |
| A. | SIDBI |
| B. | NABARD |
| C. | SBI |
| D. | None of these |
| Answer» C. SBI | |
| 375. |
The goods which people consume more, when their price rises are called _______. |
| A. | Essential goods |
| B. | Capital goods |
| C. | Veblen goods |
| D. | Giffen goods |
| Answer» E. | |
| 376. |
The Government has renamed NREGA schme and the name associated with the scheme is that of |
| A. | Rajeev Gandhi |
| B. | Indira Gandhi |
| C. | Mahatma Gandhi |
| D. | Jawaharlal Nehru |
| Answer» D. Jawaharlal Nehru | |
| 377. |
The goal of a market economy is to |
| A. | equity |
| B. | security |
| C. | Both A & B |
| D. | None of the above |
| Answer» B. security | |
| 378. |
The goal of expansionary fiscal policy is to increase |
| A. | Unemployment |
| B. | The price level |
| C. | Aggregate supply |
| D. | Real GDP |
| Answer» E. | |
| 379. |
The goal of a command economy is to |
| A. | create equality within a society |
| B. | mixed-market |
| C. | Both A & B |
| D. | None of the above |
| Answer» B. mixed-market | |
| 380. |
"The General Equilibrium Analysis" was developed by |
| A. | Marshall |
| B. | Ricardo |
| C. | Walras |
| D. | Adam Smith |
| Answer» D. Adam Smith | |
| 381. |
The foreign purchases effect |
| A. | shifts the aggregate demand curve leftward |
| B. | moves the economy along a fixed aggregate demand curve |
| C. | shifts the aggregate demand curve rightward |
| D. | shifts the aggregate supply curve rightward |
| Answer» C. shifts the aggregate demand curve rightward | |
| 382. |
The First Five Year Plan was based on ___________. |
| A. | Herold Domar Model |
| B. | P.C . Mahalanobis Model |
| C. | Both the Above |
| D. | None of the above |
| Answer» B. P.C . Mahalanobis Model | |
| 383. |
The federal government debt is equal to the |
| A. | sum of past budget deficits minus the sum of past budget surpluses |
| B. | annual difference between federal government tax revenues and outlays |
| C. | obligations of benefits from federal taxes and expenditures |
| D. | sum of all annual federal government outlays |
| Answer» B. annual difference between federal government tax revenues and outlays | |
| 384. |
The exercise of converting the financial outlays into physical outcomes, with fixed quarterly measurable and monitorable target is called |
| A. | Outcome budget |
| B. | Estimated budget |
| C. | Expenditure estimate |
| D. | None of these |
| Answer» B. Estimated budget | |
| 385. |
The existence of a parallel economy (black money) ___________. |
| A. | makes economy more competitive |
| B. | makes the monetary policies less effective |
| C. | ensures a better distribution of income and wealth |
| D. | ensures increasing productive investment |
| Answer» C. ensures a better distribution of income and wealth | |
| 386. |
The __________ exchange rate is the price of one unit of foreign currency in terms of domestic currency. |
| A. | Artificial |
| B. | Nominal |
| C. | Fixed |
| D. | Real |
| Answer» C. Fixed | |
| 387. |
The economic way of thinking stresses that |
| A. | incentives matter--individuals respond in predictable ways to changes in personal costs and benefits. |
| B. | changes in personal costs and benefits generally fail to exert much impact on behavior. |
| C. | if a good is provided by the government, its production will not consume valuable scarce resources. |
| D. | if one individual gains from an economic activity, then someone else must lose and in the same proportion. |
| Answer» B. changes in personal costs and benefits generally fail to exert much impact on behavior. | |
| 388. |
The __________ exchange rate is the relative price of foreign goods in terms of domestic goods. |
| A. | Artificial |
| B. | Nominal |
| C. | Fixed |
| D. | Real |
| Answer» E. | |
| 389. |
The 'Dual Economy' is a mixture of |
| A. | traditional agriculture sector and modern industrial sector |
| B. | industrial sector and manufacturing sector |
| C. | state ownership sector and trading of goods obtained through imports |
| D. | none of these |
| Answer» B. industrial sector and manufacturing sector | |
| 390. |
The determinants of aggregate supply - |
| A. | Capital stock |
| B. | Wages |
| C. | Technology |
| D. | All of the above |
| Answer» E. | |
| 391. |
The determinants of aggregate demand |
| A. | Consumption expenditure |
| B. | Investment expenditure |
| C. | Government expenditure |
| D. | All the above |
| Answer» E. | |
| 392. |
The demand of a commodity is a direct demand but the demand of a factor of production is called a |
| A. | Crossed demand |
| B. | Joint demand |
| C. | Derived demand |
| D. | Independent demand |
| Answer» D. Independent demand | |
| 393. |
The demand for labour is the same as the ___________._x005F_x000D_ |
| A. | marginal revenue product |
| B. | marginal physical product |
| C. | marginal cost |
| D. | wage |
| Answer» B. marginal physical product | |
| 394. |
The demand for a normal good increases with ________ in the consumer's income. |
| A. | increase |
| B. | decrease |
| C. | constant |
| D. | double |
| Answer» B. decrease | |
| 395. |
The demand for a normal good decreases with ________ in the consumer's income. |
| A. | increase |
| B. | decrease |
| C. | constant |
| D. | double |
| Answer» C. constant | |
| 396. |
The demand for a inferior good increases with ________ in the consumer's income. |
| A. | increase |
| B. | decrease |
| C. | constant |
| D. | double |
| Answer» C. constant | |
| 397. |
The demand curve shows the relationship between |
| A. | good price and the service |
| B. | quantity demanded and the price of the good |
| C. | quality and quantity of the good |
| D. | quality and price of the good |
| Answer» C. quality and quantity of the good | |
| 398. |
The demand curve _____. |
| A. | shows that as the price of a good increases, demand for the good will increase |
| B. | shows that as the price of a good increases, demand for the good will decrease |
| C. | has a positive gradient |
| D. | indicates that there is a direct relationship between quantity demanded and price |
| Answer» C. has a positive gradient | |
| 399. |
The decadal growth in the population of India during 1991-2001 is close to |
| A. | 0.13 |
| B. | 0.17 |
| C. | 0.21 |
| D. | 0.25 |
| Answer» D. 0.25 | |
| 400. |
The consumption schedule relates: |
| A. | disposable income to domestic income. |
| B. | consumption to the level of disposable income. |
| C. | consumption to saving. |
| D. | saving to the level of disposable income. |
| Answer» C. consumption to saving. | |