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1. What is the criticism of the Poverty Alleviation strategy?

A

The programmes have done little for disabled, sick and socially handicapped individuals

B

ncome and employment-oriented poverty alleviation programmes ensured that the poor can really manage to get adequate food all the year round

C

The income generation orientation of poverty alleviation programmes recognised the importance of increased flow of social inputs

D

The government has made necessary changes in anti-poor laws and policies

2. Which policy introduced the concept of Agri Export Zones (AEZs) to give primacy to promotion of agricultural exports?

A

Foreign trade policy (2004-09)

B

New industrial policy (1991)

C

Exim policy (2001)

D

New economic policy (1991)

3. In which method of privatisation, the government sells its share in the public sector undertakings to a strategic partner?

A

Management-employee buyouts

B

Sale to foreigners

C

Equal-access voucher programmes

D

Strategic sale

4. Which transactions are included in the ‘capital account’ of balance of payments?

A

Remittance from abroad

B

Foreign direct investment

C

Transportation charges

D

Interest on investments

5. The indifference curve is relatively ______ in its right-hand portion and relatively ______ in its left-hand portion

A

flatter, flatter

B

steeper, flatter

C

flatter, steeper

D

steeper, steeper

6. Through which method, companies may raise capital from the existing shareholders by making a rights issue?

A

Issue by offer for sale

B

Offering rights issue

C

Issue by prospectus

D

Issue by private placement

7. If the total deposits created by commercial banks is Rs. 12,000 crores and legal reserve requirements is 25 percent, then calculate the amount of initial deposits

A

Rs. 48,000 crores

B

Rs. 3,000 crores

C

Rs. 600 crores

D

Rs. 2,500 crores

8. According to the quantity theory of money, what will be the effect of doubling the quantity of money on the price level?

A

Price level will remain same

B

Price level will be halved

C

Price level will rise by a factor of 4

D

Price level will also get doubled

9. Which of the following is classified as Microeconomic’ study?

A

Inflation rate

B

Car industry

C

Money supply

D

Foreign exchange rate

10. Under imperfect competition, marginal revenue curve ______ average revenue curve.

A

is parallel to the

B

lies below the

C

lies above the

D

coincides with

11. When the price of a commodity falls by Rs. 2 per unit, then its quantity demanded increases by 10 units. Its price elasticity of demand is (–)1. Calculate its quantity demanded at the price before change which was Rs. 10 per unit

A

40 units

B

55 units

C

50 units

D

60 units

12. Debt-financing of budget deficit is also known as ___

A

money-financing of budget deficit

B

revenue deficit

C

primary deficit

D

bond-financing of budget deficit

13. What will be the effect of a decrease in the wealth of an individual on his demand curve for a good?

A

Leftward shift in the demand curve

B

Rightward shift in the demand curve

C

Downward movement along the same demand curve

D

Upward movement along the same demand curve

14. According to Domar`s growth model, growth in capacity output will be realised only if ______ increases by a sufficient amount.

A

money supply

B

aggregate supply

C

money demand

D

aggregate demand

15. What is the reason for the collapse of the command economy?

A

Lack of efficiency in resource allocative

B

Efficient allocation of resources

C

Economic stability

D

Maximum social satisfaction

16. Which law states that the consumer will distribute his money income between the goods in such a way that the utility derived from the last rupee spent on each good is equal?

A

Law of demand

B

Law of diminishing marginal utility

C

Law of equi-marginal utility

D

Law of supply

17. Identify the indirect tax from the following options.

A

Income tax

B

Sales tax

C

Annual wealth tax

D

Capital gains tax

18. The ______ the elasticity of supply and demand for rental housings in the ______, the greater will be the shortage of rental housing units as a result of imposition of rent control act.

A

greater, long run

B

lower, short run

C

greater, short run

D

lower, long run

19. __________ is the total value of all final goods and services that the economy produces during a given year, accounting for inflation.

A

Potential GDP

B

Nominal GDP

C

Actual GDP

D

Real GDP

20. Which of the following options includes machinery, work plants, equipment, new technology, factories, buildings and goods that are designed to increase the economy`s potential?

A

Fixed Capital

B

Working Capital

C

Capital Productivity

D

Infrastructure