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Question 1
4 points
Question 2
1. "If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the
consumers of the good to"
Increase
Decrease
becomes zero
4 points
Question 3
1. "In the case when a commodity is preferred over another commodity then for each combination of the
two products on an indifference curve, the curve becomes convex to the origin."
True
False
4 points
Question 4
True
False
4 points
Question 5
True
False
4 points
Question 6
1. Which curve is a function relating to the quantity purchased of a commodity to the level of money
income?
Engel curve
Envelope curve
demand curve
supply curve
2 points
Question 7
1. If the price rise, the direct real burden of public debt will
fall
rise
2 points
Question 8
2 points
Question 9
1. If a decrease in income causes an individual's demand curve for a good to shift to the left, then the good
is inferior.
True
False
2 points
Question 10
True
False
2 points
Question 11
Adam Smith
Marshall
Viner
Walker
2 points
Question 12
True
False
2 points
Question 13
Change in demand
change in quantity demanded
2 points
Question 14
2 points
Question 15
True
False
2 points
Question 16
2 points
Question 17
True
False
2 points
Question 18
MC=MR
AC=AR
MC=SAC
2 points
Question 19
True
False
2 points
Question 20
1 points
Question 21
1. Which rates are reviewed by the RBI at the time of periodical review of the policy?
repo rate
1 points
Question 22
1. In which denomination were India's first bimetallic coins issued in the year 2009?
Rs. 10
Rs.5
Rs. 20
Rs. 2
1 points
Question 23
highly elastic
perfectly inelastic
fairly inelastic
moderately elastic
1 points
Question 24
1. A commodity is referred to as normal if the quantity demanded increases with the increase in income of
the consumer.
True
False
1 points
Question 25
1 points
Question 26
1 points
Question 27
1. How can the RBI decrease the money supply in the market?
by buying bonds
by selling bonds
1 points
Question 28
1 points
Question 29
moderate fluctuations
Marginal Costing
1 points
Question 30
the fraction of the deposits that commercial banks must keep with RBI
fraction of deposits kept with the commercial banks themselves for emergency purposes
1 points
Question 31
1 points
Question 32
1 points
Question 33
1 points
Question 34
perfectly elastic
perfectly inelastic
inelastic
elastic
1 points
Question 35
bank rate
repo rate
interest rate
1 points
Question 36
15
13
14
10
1 points
Question 37
1. Why the average fixed cost curve does not touch the output axis?
Incorrect
1 points
Question 38
explicit cost
implicit cost
marginal cost
total cost
1 points
Question 39
1. Define Recession.
rise in prices
1 points
Question 40
abnormal profits
normal profits
losses
1 points
Question 41
1 points
Question 42
1. In which denomination were India's first bimetallic coins issued in the year 2009.
Rs 10
Rs 5
Rs 20
Rs 2
1 points
Question 43
1. In which year was the Imperial Bank of India rechristened as State Bank of India?
1955
1965
1978
1970
1 points
Question 44
1. Short term regular variations related to the calendar or time of day is known as
Trend
Seasonality
Cycles
Random Variations
1 points
Question 45
1. There are four phases of a business cycle. Identify the correct sequence of the occurrence of these
phases
Recovery,Expansion, Depression,Recession
Question 46
1. The reserves held by Commercial Banks over and above the statutory minimum, with the RBI are
called
excess reserves
minimum reserves
maximum reserves
1 points
Question 47
1. Open Market Operations, one of the measures taken by RBI in order to control credit expansion in the
economy means
auction of gold
1 points
Question 48
single seller
price maker
price discrimination
All of these
1 points
Question 49
1. A firm that break even after all the economic costs are paid in earning
Economic Profit
Accounting profit
Normal Profit
Supernormal profit
1 points
Question 50
both of these
1 points
Question 51
1. In Monetary terminology, what is called the monetary base or high powered money?
1 points
Question 52
1. Which of the following is the apex institution which handles refinance for agriculture and rural
development in India?
NABARD
IDBI
RRB
SIDBI
1 points
Question 53
1. The place where bankers meet and settle their mutual claims and accounts is known as
clearing house
SBI
PNB
Syndicate Bank
1 points
Question 54
1. Inflation benefits
Debtors
creditors
agricultural farmers
1 points
Question 55
Interest tax
Wealth tax
Corporation tax
1 points
Question 56
1. Elasticity of demand when there is a substantial change in the price of a commodity can be shown
using
point method
arc method
percentage method
1 points
Question 57
both of these
1 points
Question 58
1. The RBI made Indian Rupee fully convertible in current account transactions related to goods and
services in the year
1985
2002
1994
2001
1 points
Question 59
1. Demand is inelastic if
1 points
Question 60
1. an increase in government purchases increases the aggregate demand and shifts the AD curve to its
right. On the other hand, a decrease in the aggregate demand shifts the AD curve to its left.
True
False
3 points
Question 61
1. Which of the following is defined as the study of the aggregate economy studied as a whole?
mathematical economics
econometrics
macroeconomics
microeconomics
3 points
Question 62
Fixed Deposits
3 points
Question 63
True
False
Question 1
the point of tangency of a higher indifference curve with the budget line.
midpoint
OX-axis
OY-axis
2 points
Question 2
1. Wages, interest, rent, and profits are the four factors of production
True
False
2 points
Question 3
1. The arc price elasticity of demand measures the price elasticity at a point on the demand curve.
True
False
2 points
Question 4
True
False
2 points
Question 5
True
False
2 points
Question 6
J.M.Keynes
Karl Marx
Viner
Walker
2 points
Question 7
Necessities
luxuries
comforts
2 points
Question 8
True
False
2 points
Question 9
1. The marginal utility is derived from the consumption of extra unit of commodity
True
False
2 points
Question 10
True
False
2 points
Question 11
True
False
2 points
Question 12
True
False
2 points
Question 13
1. Production and cost figures help managers with hiring and recruitment of the staff
True
False
2 points
Question 14
True
False
2 points
Question 15
1. Delphi Technique is the way of getting repeated opinions of experts without their face to face
transactions
True
False
2 points
Question 16
True
False
2 points
Question 17
cash
demand deposits
treasury bills
all of these
4 points
Question 18
True
False
4 points
Question 19
1. "If both the demand and supply curves shift rightward, the equilibrium price definitely rises."
True
False
4 points
Question 20
1. "If a firm sells its output on a market that is characterized by many sellers and buyers, a homogeneous
product, unlimited long-run resource mobility, and perfect knowledge, then the firm is a"
a monopolist
an oligopolist
a perfect competitor
a monopolistic competitor
4 points
Question 21
1. If the waste is dumped in the river, the private cost is nil, but the social cost increases, as it is not
friendly for the society.
True
False
5 points
Question 22
1. If the consumer's weekly income rises from Rs. 300 to Rs. 320, his purchase of the good X increases
from 25 units per week to 30 units, then his income elasticity of demand for X is:
5 points
Question 23
1. If the Fed is worried about inflation and wants to raise the interest rate, it
5 points
Question 24
1. If total cost is Rs. 8000 and N= 800, then Average cost is Rs.100
True
False
5 points
Question 25
SBI
RBI
Ministry of Finance
High Court
1 points
Question 26
Interest tax
Wealth tax
Corporation tax
1 points
Question 27
20 to 100%
20 to 30%
2 to 3%
0.8
1 points
Question 28
Governor, RBI
Minstry of finance
Incorrect
1 points
Question 29
1. The measure of location which is the most likely to be influenced by extreme values in the data set is
the
range
median
mode
mean
1 points
Question 30
1. Managerial economics generally refers to the integration of economic theory with business
Ethics
management
Practice
1 points
Question 31
product differentiation.
1 points
Question 32
sale of bonds
purchase of bonds
Question 33
iso-cost line
budget line
1 points
Question 34
1 points
Question 35
GDP
NDP
GNP
1 points
Question 36
Question 37
1. Demand is inelastic if
1 points
Question 38
1 points
Question 39
1. Inflation benefits
Debtors
creditors
agricultural farmers
1 points
Question 40
Monetary Policy
Industrial Policy
Fiscal Policy
None of these
1 points
Question 41
1. For a firm in monopolistic competition, the marginal cost curve intersects the average total cost curve
at no point
1 points
Question 42
1. An accuracy measure that may be used to indicate any positive or negative bias in the forecast is
tracking signal
Standard error
All of these
1 points
Question 43
1 points
Question 44
1. Which public sector banks has the largest number of branches in foreign countries?
Bank of Baroda
PNB
OBC
SBI
1 points
Question 45
1 points
Question 46
Stagflation
1 points
Question 47
lendors are worse off because they are repaid with currency that is worth more
lendors are worse off because they cannot find anyone who wants a loan.
borrowers are better off because they can pay off their loans with currency that is worth less.
borrowers are worse off because they have to pay off their loans with currency that is worth
more
1 points
Question 48
law of substitution
1 points
Question 49
inelastic
elastic
perfectly elastic
unitary elastic
1 points
Question 50
both of these
1 points
Question 51
1. Which of the following is the apex institution which handles refinance for agriculture and rural
development in India?
NABARD
IDBI
RRB
SIDBI
1 points
Question 52
negative
zero
unitary
infinite
1 points
Question 53
Price Theory
Income theory
Employment theory
1 points
Question 54
1. A group of firms that gets together to make price and output decisions is called
Cartel
price leadership
a concentrated industry
1 points
Question 55
will exceed gross domestic product if net factor payments from abroad are positive
will be higher in a private sector economy than in an economy where there is also a public sector
that taxes the private sector
is identical to the gross domestic product in Canada
1 points
Question 56
1. A straight-line demand curve along which the price elasticity of demand equals 0 is one that
is horizontal
is vertical