Economics - Online Test
Q1. Point out a merit of fixed exchange rate
Answer : Option B
Explaination / Solution:
Exchange rate stability, it is said, is necessary for orderly development of the international economy and rapid growth of world trade.
If the exchange rate is unstable or variable, the exporters will not be certain about the price they would receive for the goods to be expedited by them; the importers will not be certain about the price and the payments they have to make for their imports.2
Q2. The daily temperature recorded in a city in Russia in a year is given below
Answer : Option D
Explaination / Solution:
No Explaination.
Q3. The structure which contributes directly to the economic process within the system of production and distribution known as
Answer : Option D
Explaination / Solution:
Internal facilities of a country that make business activity possible, such as communication, transportation, and distribution networks, financial institutions and markets, and energy supply systems.
Q4. The branch of economics dealing with the problem of allocation of resources is
Answer : Option B
Explaination / Solution:
Microeconomics is the social science that studies the implications of individual human action, specifically about how those decisions affect the utilization and distribution of scarce resources. Microeconomics shows how and why different goods have different values, how individuals make more efficient or more productive decisions, and how individuals best coordinate and cooperate with one another.
Q5. The relationships between TR and MR when price fall is
Answer : Option B
Explaination / Solution:
No Explaination.
Q6. The relationship between three or more variables is studied with the help of _________ correlation
Answer : Option D
Explaination / Solution:
Multiple correlation is used when the relationship between more than two variables is under study.
Q7. National old age pension, National family benefit and National Maternity Benefit scheme are three components of
Answer : Option C
Explaination / Solution:
The National Social Assistance Programme (NSAP) is a Centrally Sponsored Scheme of the Government of India that provides financial assistance to the elderly, widows and persons with disabilities in the form of social pensions.
Q8. The law based on theory of probability is
Answer : Option A
Explaination / Solution:
This law has emerged from the mathematical theory of probability. The pith and substance of this law is that the behavior of an individual event may be erratic and imponderable but when a large number of events of same category are considered, a stable behavior emerges.
Q9. What happens when the rate of resources extraction exceeds that of their regeneration
Answer : Option D
Explaination / Solution:
No Explaination.
Q10. The broad definition of money is based on
Answer : Option C
Explaination / Solution:
No Explaination.
