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.
| 301. |
The word development in economics pertains to |
| A. | democratic countries |
| B. | third world countries |
| C. | advanced countries |
| D. | undeveloped countries |
| Answer» C. advanced countries | |
| 302. |
The unemployment created at certain times of the year, when the demand for goods and services are lower than normal, is _____. |
| A. | Cyclical unemployment |
| B. | Frictional unemployment |
| C. | Seasonal unemployment |
| D. | Structural unemployment |
| Answer» D. Structural unemployment | |
| 303. |
The term 'Zero Based Budgeting' refers to __________. |
| A. | A specified sum of money authorized by the Legislaturefor a specific period of time |
| B. | To ensure that every rupee spent is result oriented |
| C. | A statutorily mandated form of reimbursement or up-front payment for state expenditures |
| D. | A cost item for which payment is made by one stateagency to another |
| Answer» C. A statutorily mandated form of reimbursement or up-front payment for state expenditures | |
| 304. |
The term 'mixed economy' denoted |
| A. | existence of both rural and urban sectors |
| B. | existence of both private and public sectors |
| C. | existence of both heavy and small industries |
| D. | existence of both developed and underdeveloped sectors |
| Answer» C. existence of both heavy and small industries | |
| 305. |
The term stagflation refers to a situation where ? |
| A. | Growth has no relation with the change in prices |
| B. | Rate of growth is faster than the rate of price increase |
| C. | Rate of growth is slower than the rate of price increase |
| D. | Rate of growth and prices both are decreasing |
| Answer» D. Rate of growth and prices both are decreasing | |
| 306. |
The term 'Macro Economics' was used by __________ |
| A. | J.M. Keynes |
| B. | Ragner Frisch |
| C. | Ragner Nurkse |
| D. | Prof. Knight |
| Answer» C. Ragner Nurkse | |
| 307. |
The term 'Dumping' refers to |
| A. | The sale of a subÂstandard commodity |
| B. | Sale in a foreign market of a commodity at a price below marginal cost |
| C. | Sale in a foreign market of a commodity just at marginal cost with too much of profit |
| D. | Smuggling of goods without paying any customs duty |
| Answer» C. Sale in a foreign market of a commodity just at marginal cost with too much of profit | |
| 308. |
The study of individual markets of demand and supply in which the 'players', or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called? |
| A. | Macroeconomics |
| B. | Econometrics |
| C. | Microeconomics |
| D. | Heterodox Economics |
| Answer» D. Heterodox Economics | |
| 309. |
The Swarnjayanti Shahari Rojgar Yojana which came into operation  from 1.12.1997 aims to provide gainful employment to the urban unemployed or under employed poor but does NOT Include: |
| A. | Nehru Rojgar Yojana |
| B. | Urban Basic Service Programme |
| C. | Prime Minister's Integrated Urban poverty Eradication Programme |
| D. | Prime Minister's Rojgar Yojana |
| Answer» E. | |
| 310. |
The Tehri Hydro Power Complex is located in the State of |
| A. | Uttarakhand |
| B. | Uttar Pradesh |
| C. | Himachal Pradesh |
| D. | Sikkim |
| Answer» B. Uttar Pradesh | |
| 311. |
The State which has the highest percentage of literate unemployed in India is |
| A. | Andhra Pradesh |
| B. | Manipur |
| C. | Kerala |
| D. | Gujarat |
| Answer» D. Gujarat | |
| 312. |
The study of economics is primarily concerned with |
| A. | choices that are made in seeking to use scarce resources efficiently |
| B. | keeping private businesses from losing money |
| C. | demonstrating that capitalistic economies are superior to socialistic economies |
| D. | None of the above |
| Answer» B. keeping private businesses from losing money | |
| 313. |
The State having the highest density of population is |
| A. | Kerala |
| B. | Tamil Nadu |
| C. | West Bengal |
| D. | Uttar Pradesh |
| Answer» D. Uttar Pradesh | |
| 314. |
The State Financial Corporations have given assistance mainly to develop___________. |
| A. | agriculture farms |
| B. | cottage industries |
| C. | medium and small-scale industries |
| D. | large scale industries |
| Answer» D. large scale industries | |
| 315. |
The single-step income statement emphasizes |
| A. | the various components of income from continuing operations |
| B. | extraordinary items and accounting changes more than these are emphasized in the multiple-step income statement |
| C. | total revenues and total expenses |
| D. | the gross profit figure |
| Answer» D. the gross profit figure | |
| 316. |
The SLR is determined by the RBI. SLR stands for |
| A. | States Leverage Return |
| B. | Savings Lease Rate |
| C. | Statutory Liquidity Ratio |
| D. | Safe Legal Range |
| Answer» D. Safe Legal Range | |
| 317. |
The short run average cost curve is ____ shaped. |
| A. | U |
| B. | V |
| C. | X |
| D. | W |
| Answer» B. V | |
| 318. |
The short run marginal cost curve is ____ shaped. |
| A. | U |
| B. | V |
| C. | X |
| D. | W |
| Answer» B. V | |
| 319. |
The second Green Revolution aims at increasing agricultural output to promote |
| A. | Availability of easy credit to big farmers |
| B. | Co-operative farming |
| C. | Inclusive growth |
| D. | Development of rural sector |
| Answer» D. Development of rural sector | |
| 320. |
The scarcity definition of economics is credited to |
| A. | Dennis Robertson |
| B. | Lionel Robbins |
| C. | Alfred Marshall |
| D. | Adam Smith |
| Answer» C. Alfred Marshall | |
| 321. |
The sampling distribution of a statistic is_x005F_x000D_ Â _x005F_x000D_ |
| A. | A normal curve, for which probabilities are obtained by standardizing. |
| B. | A distribution of all possible summary statistics from a single random sample, from the same population. |
| C. | A distribution of all parameters from the population that is to be randomly sampled. |
| D. | The mechanism that determines whether the random sampling was effective. |
| Answer» B. A distribution of all possible summary statistics from a single random sample, from the same population. | |
| 322. |
The rolling plan concept in our country started with the |
| A. | Third plan |
| B. | Fourth plan |
| C. | Fifth plan |
| D. | Seventh plan |
| Answer» D. Seventh plan | |
| 323. |
The real wage will rise if the nominal wage |
| A. | increases more rapidly than the general price level. |
| B. | increases at the same rate as labor productivity. |
| C. | falls more rapidly than the general price level. |
| D. | falls at the same rate as the general price level. |
| Answer» B. increases at the same rate as labor productivity. | |
| 324. |
The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________ function. |
| A. | Price |
| B. | Substitution |
| C. | Supply |
| D. | Demand |
| Answer» E. | |
| 325. |
The rate of inflation increases when the purchasing powerof money___________ . |
| A. | Decreases |
| B. | Increases |
| C. | Stable |
| D. | Decrease just half |
| Answer» B. Increases | |
| 326. |
The purpose of land reforms was to achieve ___________._x005F_x000D_ |
| A. | increase in production |
| B. | increase the purchasing power of the rural population |
| C. | ensure distributive justice with economic growth |
| D. | All options are correct |
| Answer» E. | |
| 327. |
The purchase of shares and bonds of Indian companies by Foreign Institutional Investors is called ? |
| A. | FDI |
| B. | NRI Investment |
| C. | Portfolio Investment |
| D. | Foreign Indirect Investment |
| Answer» E. | |
| 328. |
The public debt is the |
| A. | total amount borrowed by the government of a country |
| B. | The funds raised for a cause in the country |
| C. | the tax amount overall the country |
| D. | none |
| Answer» B. The funds raised for a cause in the country | |
| 329. |
The production possibilities curve illustrates the basic principle that |
| A. | if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced. |
| B. | the production of more of any one good will in time require smaller and smaller sacrifices of other goods. |
| C. | an economy will automatically obtain full employment of its resources. |
| D. | an economy's capacity to produce increases in proportion to its population size. |
| Answer» B. the production of more of any one good will in time require smaller and smaller sacrifices of other goods. | |
| 330. |
The principles of internal control include |
| A. | Maintain Records |
| B. | Segregate of Duties |
| C. | Mandatory Employee Rotation |
| D. | All the above |
| Answer» E. | |
| 331. |
The period of Eleventh Five Year Plan is |
| A. | 2005 to 2010 |
| B. | 2006 to 2011 |
| C. | 2007 to 2012 |
| D. | 2008 to 2013 |
| Answer» D. 2008 to 2013 | |
| 332. |
The percentage of Urban population to total population in India is |
| A. | 20.28 |
| B. | 22.52 |
| C. | 25.72 |
| D. | 27.8 |
| Answer» E. | |
| 333. |
The number of days' sales uncollected is calculated by |
| A. | Dividing accounts receivable by net sales and multiplying by 365. |
| B. | Dividing net sales by accounts receivable and multiplying by 365. |
| C. | Dividing accounts receivable by net sales. |
| D. | Dividing net sales by accounts receivable. |
| Answer» B. Dividing net sales by accounts receivable and multiplying by 365. | |
| 334. |
The National Income of a country is |
| A. | The annual revenue of the Governament |
| B. | Sum total of factor incomes |
| C. | Surplus of public sector Undertaking |
| D. | Export minus Imports |
| Answer» C. Surplus of public sector Undertaking | |
| 335. |
The National forest policy aims at maintaining how much of the geographical area under forests |
| A. | Half |
| B. | One-third |
| C. | One-fourth |
| D. | One-fifth |
| Answer» C. One-fourth | |
| 336. |
The MPC for an economy is |
| A. | the slope of the savings schedule or line. |
| B. | 1 divided by the slope of the savings schedule or line. |
| C. | the slope of the consumption schedule or line. |
| D. | 1 divided by the slope of the consumption schedule or line. |
| Answer» E. | |
| 337. |
The most important determinant of consumer spending is |
| A. | consumer expectations |
| B. | the level of income |
| C. | the level of household borrowing |
| D. | the stock of wealth |
| Answer» C. the level of household borrowing | |
| 338. |
The most common economic system in the world is a |
| A. | Mixed |
| B. | Command |
| C. | Planned |
| D. | Market |
| Answer» B. Command | |
| 339. |
The money which Government of India spends on the development of infrastructure in country comes from which of the following sources?_x005F_x000D_ I. Loan from world Bank/ADB etc_x005F_x000D_ II. Taxes collected  from the people _x005F_x000D_ III. Loan from RBI |
| A. | only I |
| B. | only II |
| C. | only III |
| D. | All I,II and III |
| Answer» E. | |
| 340. |
The modern economy is NOT characterized by ___________. |
| A. | self-sufficient village system |
| B. | development of money economy |
| C. | capital intensive mode of production |
| D. | production for market |
| Answer» B. development of money economy | |
| 341. |
The minimum price at which I was willing to sell my old TV was Rs 37,000. I quoted Rs 50,000 while selling it, but it sold for Rs 42,000. This transaction generated _____. |
| A. | Rs 5000 worth of consumer surplus |
| B. | Rs 8000 worth of consumer surplus |
| C. | Rs 5000 worth of producer surplus |
| D. | Rs 8000 worth of producer surplus |
| Answer» D. Rs 8000 worth of producer surplus | |
| 342. |
The Minimum Alternative Tax (MAT) was introduced in the Budget of the Government of India for the year |
| A. | 1991-92 |
| B. | 1992-93 |
| C. | 1995-96 |
| D. | 1996-97 |
| Answer» E. | |
| 343. |
The Mid Day Meal Scheme has been launched by the Union Minister of |
| A. | Home Affairs |
| B. | Social Welfare |
| C. | Human Resource Development |
| D. | Rural Development |
| Answer» D. Rural Development | |
| 344. |
The market for sugar is in equilibrium. If the supply of sugar increases, the equilibrium price of sugar will ________ and the equilibrium quantity will _________. |
| A. | increase; increase |
| B. | decrease; decrease |
| C. | increase; decrease |
| D. | decrease; increase |
| Answer» E. | |
| 345. |
The major objective of monetary policy is to |
| A. | increase government's tax revenue |
| B. | revamp the Public Distribution System |
| C. | Promote economic growth with price stability |
| D. | weed out corruption in the economy |
| Answer» D. weed out corruption in the economy | |
| 346. |
The marginal propensity to consume lies between ____________. |
| A. | 0 to Infinity |
| B. | 0 to 1 |
| C. | 1 to Infinity |
| D. | 0 to 10 |
| Answer» C. 1 to Infinity | |
| 347. |
The main effect of Direct Taxes is on |
| A. | Food prices |
| B. | Consumer goods |
| C. | Capital goods |
| D. | Income |
| Answer» E. | |
| 348. |
The law of supply indicates that other things equal |
| A. | producers will offer more of a product at high prices than at low prices |
| B. | the quantity supplied of the good rises |
| C. | the quantity supplied of the good rises |
| D. | producers will offer more of a product at high prices than at low prices |
| Answer» B. the quantity supplied of the good rises | |
| 349. |
The law of supply indicates that, other things equal |
| A. | sellers will offer more of a product at low prices than at high prices. |
| B. | buyers will purchase less of a good at high prices than at low prices. |
| C. | Sellers will offer more of a product at high prices than at low prices. |
| D. | the product supply curve is downward sloping. |
| Answer» D. the product supply curve is downward sloping. | |
| 350. |
The long run aggregate supply curve is vertical because |
| A. | there is no cyclical inflation |
| B. | potential GDP is low |
| C. | at full employment prices are stable |
| D. | all of the above |
| Answer» D. all of the above | |