Description : Change in quantity demanded or Movement along demand curve occurs due (a) Due to change in price only ; (b) Change in Cetris paribus conditions only ; (c) Change in cost of production ; (d) Change in technology
Last Answer : (a) Due to change in price only ;
Description : Shift in Demand curve or change in Demand curve occurs due to (a) Increase in price ; (b) Decrease in cost of production ; (c) Change in Cetris paribus conditions ; (d) All the three
Last Answer : (c) Change in Cetris paribus conditions ;
Description : Cetris Paribus means (a) Holding demand constant ; (b) Holding supply constant ; (c) Price being constant; (d) Other things being constant
Last Answer : (d) Other things being constant
Description : Under law of supply, ceteris paribus is (a) Cost of production ; (b) Production technology ; (c) None ;(d) Both
Last Answer : ;(d) Both
Description : Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three
Last Answer : (d) All the three
Description : Shift in supply curve is cause by (a) Change in citrus paribus conditions ; (b) Increase in price; (c) Decrease in price ; (d) Change in consumer income
Last Answer : (a) Change in citrus paribus conditions ;
Description : Ceteris paribus, an income tax (a) Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier; (b) Decreases the value of the expenditure and net tax ... multiplier and increases the value of the net tax revenue multiplier ; (d) None of the above.
Last Answer : (b) Decreases the value of the expenditure and net tax revenue multiplier;
Description : Which of these are outside the domain of macro economics (a) Consumer behavior ; (b) National income ; (c) Economic growth; (d) Balance of payment and trade
Last Answer : (a) Consumer behavior ;
Description : Micro economics theory deals with (a) Economic behavior of individual economic decision making units; (b) Economy as a whole ; (c) Trade relations ; (d) Economic growth of the society
Last Answer : (a) Economic behavior of individual economic decision making units;
Description : General equilibrium analysis refers to (a) Behaviour of individual economic decision making units and individual markets in isolation; (b) Behaviour of all the individual decision making units and market viewed in totality; (c) Both ; (d) (d) none
Last Answer : (b) Behaviour of all the individual decision making units and market viewed in totality;
Description : The maximum quantity that a supplier is prepared to supply in the market at a given price is called (a) Economic order quantity ; (b) Optimum quantity ; (c) Supply quantity ; (d) Both or quantity
Last Answer : ; (c) Supply quantity ;
Description : In economic goods includes material things which………. (a) Can be transferred ; (b) Can be exchanged for one another ; (c) Both ; (d) None
Last Answer : (c) Both ;
Description : A common assumption about the players in a game is that a. Neither player knows the payoff matrix b. The players have different information about the payoff matrix c. Only one of the players pursues a rational strategy d. The specific identify of the players is irrelevant to the play of the game
Last Answer : d. The specific identify of the players is irrelevant to the play of the game
Description : Economic order quantity is that quantity at which cost of holding and carrying inventory is: (a) Maximum and equal (b) Minimum and equal (c) It can be maximum or minimum depending upon case to case. (d) Minimum and unequal
Last Answer : (b) Minimum and equal
Description : Which of the following is not an economic activity? (a) Painting for self use ; (b) Maintenance of Public Park by Local administration (c) Painting for commercial use ; (d) Running an Academic school
Last Answer : (a) Painting for self use ;
Description : A firm that makes profit in excess of normal profit is earning (a) Economic profit ; (b) Costing profit ; (c) Normal profit ; (d) Super normal profit
Last Answer : ; (d) Super normal profit
Description : A firm that break even after all the economic costs are paid in earning (a) Economic profit ; (b) Accounting profit ; (c) Normal profit ; (d) Super normal profit
Last Answer : (c) Normal profit ;
Description : In economic theory, in the short run all the cost are…………… (a) Fixed ; (b) Variable ; (c) Controllable ; (d) Semi variable
Last Answer : (a) Fixed ;
Description : Economic growth is best depicted by (a) Outward shift in PPF ; (b) Upward movement in PPF ; (c) Inward movement in PPF (d) Downward movement in PPF
Last Answer : (a) Outward shift in PPF ;
Description : Economic efficiency means (a) Production of goods of mass consumption at lower cost; (b) Production of goods and services for those who have purchasing power; (c) Getting greatest satisfaction from available resources ; (d) Full employment of working force
Last Answer : (c) Getting greatest satisfaction from available resources
Description : Which of the following issue relates to micro-economics (a) Impact of crude price hike on inflation (b) Impact of change in bank rate on bank saving and investment (c) Impact of Information technology on economic growth (d) Impact of shortage of wheat production on wheat prices
Last Answer : (d) Impact of shortage of wheat production on wheat prices
Description : Which of these is an economic activity (a) A father teaching his son at home instead of sending to any coaching centre (b) A hair dresser doing hair cut designing on payment (c) A housewife mending her family cloths on her own (d) A singer giving a show on his son’s wedding anniversary
Last Answer : (b) A hair dresser doing hair cut designing on payment
Description : Economics cannot be given the status of science because (a) Of non-uniformity of opinion and approach of economist; (b) Economic behaviour of human being is unpredictable; (c) Measuring rod of money is unstable ; (d) All the three
Description : The terms Micro economic and Macro economics were coined by (a) Professor A Samulson ; (b) Giffen ; (c) Prof. Ragner Frisch ; (d) Eagle
Last Answer : (c) Prof. Ragner Frisch ;
Description : In economic wealth is the stock of all those material and immaterial objects which……... (a) Are transferable ; (b) Have utility ; (c) Are scarce ; (d) All the three
Last Answer : ; (d) All the three
Description : Economics cannot be considered a perfect science because (a) Human behaviour is unpredictable (b) It is difficult to make correct prediction of economic variables (c) Economist do not have common opinion about a particular economic event (d) All the three
Description : Which of the following is/ are a non-economic resource (a) Air (b) Water ; (c) Sunlight ; (d) All the three
Description : Which of the following is/ are an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) All the three
Description : Which of the following is/ are not an economic resource (a) Land ; (b) Capital ; (c) Labour ; (d) Air
Last Answer : ; (d) Air
Description : Economic resources are (a) Unlimited ; (b) Limited in supply and use ; (c) Limited in supply but have alternative uses; (d) Unproductive
Last Answer : (c) Limited in supply but have alternative uses;
Description : In economic theory the term “means” refers to (a) Resources ; (b) Arithmetic mean ; (c) A characteristic ; (d) None
Last Answer : (a) Resources ;
Description : Normative economic theory deals with (a) What is or how the economic problem facing the society are solved; (b) How the problem should be solved ; (c) What to Produce ; (d) How to produce
Last Answer : (b) How the problem should be solved ;
Description : Which of the following is a central problem of every economy (a) Abundance of resources ; (b) Scarcity of economic resources ; (c) Poverty; (d) Moral and ethical values
Last Answer : (b) Scarcity of economic resources ;
Description : Which of the following is not an assumption underlying testing and measurement? a. Various approaches to measuring aspects of the same thing can be useful b. Error is rarely present in the measurement process c. Present-day behavior predicts future behavior d. Testing and assessment benefit society
Last Answer : b. Error is rarely present in the measurement process
Description : Cumulative analysis for determining surface is more precise than differential analysis, because of the (A) Assumption that all particles in a single fraction are equal in size (B) Fact that screening is more ... all particles in a single fraction are equal in size, is not needed (D) None of these
Last Answer : (C) Assumption that all particles in a single fraction are equal in size, is not needed
Description : Pick out the wrong statement. (A) Cumulative analysis for determining surface area is preferred over differential analysis, because of the assumption that "all particles in a simple fraction equal in size" is ... throwing of the balls through the air to the toe of the heap is called 'cataracting'
Last Answer : (C) Capacity of crusher in choke feeding is increased
Description : Sedimentation analysis is based on the assumption: (A) Soil particles are spherical (B) Particles settle independent of other particles (C) Walls of the jar do not affect the settlement (D) All the above
Last Answer : (D) All the above
Description : Consider the following assumption made in the analysis of a jet impinging normally on a moving plate to introduce the principle of moment of momentum: 1. Friction between jet and plate is neglected. 2. Flow is steady 3. Impinging momentum of ... b) 1, 2 & 3 only (c) 2, 3 and 4 only (d) 1, 2, 3 & 4
Last Answer : (a) 1, 2 & 4 only
Description : The basic assumption of the intelligence test is that it is meant for those people (a) Are of moderate intelligence (b) Have acquired same amount of knowledge (c) To measure their intelligence from their experiences (d) all of the above.
Last Answer : c) To measure their intelligence from their experiences
Description : As the number of investments made by a firm increases, its internal rate of return - (1) declines due to diminishing marginal productivity. (2) declines because the market rate of interest will ... the firm for the current consumption foregone. (4) increases because the level of savings will fall.
Last Answer : (3) increases to compensate the firm for the current consumption foregone. Explanation: Internal rates of return are commonly used to evaluate the desirability of investments or projects. The higher a ... of return is greater than an established minimum acceptable rate of return or cost of capital.
Description : As the number of investments made by a firm increases, its internal rate of return (1) declines due to diminishing marginal productivity. (2) declines because the market rate of interest will fall ... firm for the current consumption foregone. (4) increases because the level of savings will fall.
Last Answer : increases to compensate the firm for the current consumption foregone.
Description : Which of the following is a cause of frictional unemployment? (a) Non-availability of work due to strike and lock-out. (b) Temporary unemployment due to change over in jo(b) ; (c) Both ; (d) None
Description : If supply and demand both shift outward, but demand shifts outward more than supply, the equilibrium price (a) will increase and quantity will increase ; (b) will increase and quantity will decrease; (c) will decrease and quantity will decrease ; (d) will decrease and quantity will increase
Last Answer : (a) will increase and quantity will increase ;
Description : Deficit financing means (a) Financing budgetary deficit by borrowing (b) Financing budgetary deficit by printing money ; (c) Both ; (d) None
Description : Which of these terms are/is appropriate for RBI? (a) Banker’s Bank ; (b) Banker’s to the Government ; (c) Both ; (d) None
Description : If RBI sucks excess money into circulation this will effect (a) M1 ; (b) M2 ; (c) Both ; (d) None
Last Answer : ; (c) Both ;
Description : RBI check inflation by (a) Increasing bank rate ; (b) Increasing CRR ; (c) Both ; (d) None
Description : In a perfect competitive market price determines – (a) What to buy ; (b) What to produce ; (c) Both ; (d) None
Description : Stock of both man made goods as well as natural resources like capital is called – (a) National wealth ; (b) National stock ; (c) No less no gain level ; (d) All the three
Last Answer : (b) National stock ;
Description : Which of the following faces a downward sloping demand curve (a) Firm in a competitive market ; (b) Firm in a monopoly market ; (c) Both ; (d) None
Last Answer : (b) Firm in a monopoly market ;