One Point Solution for All JKSSB Exams

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1. As an individual purchases more units of a good, the marginal utility keeps on __

decreasing

converging

increasing

fluctuating

2. Which tax will be categorised as Direct Tax?

Goods and Services tax

Excise duty

Sales tax

Corporate tax

3. Which commodity is classified as durable-use consumer goods?

Coca Cola

Food

Milk

House

4. Which equation represents the productive capacity effect of investment and saving? (Gγ : Growth rate of income σ : Output-Capital ratio S : Saving ratio)

Gγ = σ/S

Gγ = S.σ

Gγ = S/σ

Gγ = 1/S.σ

5. Government expenditure made on the schemes and projects included in five year plans is classified as __

plan expenditure

non-plan expenditure

transfer payments

non-developmental expenditure

6. Stage 3 of law of variable proportions is also called stage of negative returns because ______.

marginal product of the variable factor is positive during this stage

fixed factor is too much relative to the variable factor

marginal product of the variable factor is negative during this stage

marginal product of the fixed factor is negative

7. What will be the effect of rise in price of a commodity on the total expenditure when demand is inelastic?

Total expenditure will reduce to zero

Total expenditure will increase

Total expenditure will decrease

Total expenditure will remain unchanged

8. What is the rationale behind privatisation and disinvestment of public sector undertakings?

Public units are subject to market discipline

Fixing responsibility is difficult

mprovement in efficiency and performance

9. Which institution is categorised as the organised sector of the money market?

Moneylenders

Indigenous Bankers

Discount and Finance House of India Limited

Unregulated Non-Bank Financial Intermediaries

10. Which cost is determined by the relative prices of goods?

Opportunity cost

Average cost

Total cost

Marginal cost

11. The number of times a unit of money changes hand during exchanges in a year is referred as the ____

velocity of money

value of money

quantity of money

quality of money

12. What was the threshold limit for assets in respect of Monopolies and Restrictive Trade Practices (MRTP) and dominant undertakings under the new industrial policy of 1991?

Rs. 100 crore

Rs. 50 crore

Rs. 101 crore

No limit

13. Which deposits can be withdrawn through cheques but there are limits to the amount withdrawable in a week or a month?

Demand Deposits

Time Deposits

Savings Bank Deposits

14. Which factor conveys information to the firms about how individuals value different goods and services?

Inequality

Prices

Incentives

Profits

15. High-yielding varieties programme (HYVP) was restricted to only ______ crops

seven

five

two

three

16. The the rate of capital formation, the the rate of economic growth

greater, lower

lower, greater

greater, insignificant

greater, greater

17. Which law is called the extension of “Law of Diminishing Returns”?

Law of diminishing marginal utility

Law of variable proportions

Law of equi-marginal utility

Law of demand

18. On the eve of the first five-year plan, industries manufacturing intermediate products were established but their production was as productive capacity was considerably the requirements.

large, above

small, below

large, below

small, above

19. Which condition must be satisfied for the equilibrium growth rate at full employment level of all existing resources? (Where Gn = Natural rate of growth, Gw = Warranted rate of growth, Gy = Growth rate of output, l = Growth rate of population, t = Technological progress, S = Saving rate, V = Capital – Output ratio)

Gn = Gw

Gn = l + t

Gy = (S/V)

Gn = Gw = Gy

20. Variable costs of production are also called __

fixed costs

prime costs

overhead costs

sunk costs