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1. The government introduced an agricultural starategy which gave rise to green revolution in india, this is with regard to which plan?

A

Sixth Five Year Plan

B

Second Five Year Plan

C

Third Five Year Plan

D

First Five Year Plan

2. What is National disposable income?

A

It refers to acquiring of final goods and services not through regular market transactions

B

It refers to the income which is available to the whole economy for spending or disposal

C

It refers to the flow of goods and services between sectors of economy

D

It refers to the flow of money between sectors of economy

3. The statement "Underdeveloped countries are the slums of the World Economy" is given by

A

A. N Cairncross

B

David Ricardo

C

Ragnar Nurkse

D

G. Mrydal

4. Which economic concept deals with relationship between inflation and unemployment

A

Philips Curve

B

Marshall Concept

C

Demand and Supply

D

Wants and Demands

5. The neoclassical model of economic growth

A

assumes that there is a single homogenous good produced by capital and labor

B

was originally conceived of by Robert Solow

C

was originally conceived of by Adam Smith

D

assumes that there is a single homogenous good produced only by labor

6. Which of the following is NOT a type of inflation on the basis of speed?

A

Running inflation

B

Scrolling inflation

C

Galloping inflation

D

Walking inflation

7. Which of the following is a narrow indicator of economic development that excludes non-economic indicators such as leisure time, access to health, education, environment, freedom or social justice?

A

NNP

B

GNP

C

GDP

D

Per Capita income

8. Which of the following is used to refer to the actions of central banks to achieve macroeconomic policy objectives such as price stability, full employment, and stable economic growth?

A

Fiscal policy

B

Monetary policy

C

Corporate policy

D

Government policy

9. Which of the following is measured against the average age that the individual is expected to reach?

A

Low life expectancy

B

Low standard of education

C

Poor health care

D

Unemployment

10. Under price discrimination mechanism, Dispose of surplus stock is considered as what?

A

Constraint

B

Feature

C

Objective

D

Criteria

11. Which of the following curve means that an increase in the wages induces workers to increase the quantity of labour they supply?

A

Upward

B

Downward

C

Vertical

D

Horizontal

12. Which growth model was adopted in the 1st Five Year Plan?

A

Harrod - Domar

B

Harrold - Dimmer

C

Doma - Harro

D

Dimman - Harrod

13. Restrictions to entry is a characteristic of which of the following market?

A

Perfect Market

B

Imperfect Market

C

Totally perfect

D

Oligopoly

14. Which of the following situation occurs when aggregate demand is growing at an unsustainable rate leading to increased pressure on scarce resources and a positive output gap?

A

Cost Pull Inflation

B

Cost Push Inflation

C

Demand Push Inflation

D

Demand pull inflation

15. Who originated the technique of indifference curve in England in 1881?

A

Fransis. Y. Edworth

B

Adam Smith

C

Alfred Marshall

D

A.C. Pigou

16. Which of the following is considered as factor of production as economic resources can exist in an economy and non -transferable into consumer goods?

A

Knowledge

B

Entrepreneurship

C

Land

D

Capital

17. Under which of the following System there is no business cycle since all economic activities are controlled by the central planners?

A

Communist

B

Socialist

C

Radicals

D

Marxist

18. Which of the following tool is used as one way to measure the inequalities in the distribution of income and wealth in different countries?

A

Correlation Coefficient

B

Gardey Coefficient

C

Gini Coefficient

D

Phi Coefficient

19. Which of the following technique is used in economics to get market demand curve?

A

Vertical Summation

B

Equilibrium

C

Horizontal summation

D

Interdependency

20. Products such as jewels, diamonds and so on confer distinction on the part of the user, where in consumers tend to buy more goods when the price increases, and vice versa. This is an example of which type of good?

A

Veblen Goods

B

Giffen Goods

C

Substitute Goods

D

Complementary Goods