Economics - Online Test
Q1. Labour intensive technique would get chosen in
Answer : Option A
Explaination / Solution:
The labor surplus economy model has as its basic premise the inability of unskilled agricultural labor markets to clear in countries with high man/land ratios. In such situations, the marginal product of laboris likely to fall below a bargaining wage, related to the average rather than the marginal product.
Q2. The break- even point is
Answer : Option A
Explaination / Solution:
No Explaination.
Q3. If rxy = ryx, correlation between x and y is
Answer : Option A
Explaination / Solution:
When the coefficient of correlation between X and Y (rxy) is equal to the coefficient of correlation between Y and X (ryx), the relationship between X and Y is said to be symmetric.
Q4. Which ratio measures the number below poverty line
Answer : Option A
Explaination / Solution:
Below Poverty Line is an economic benchmark used by the government of India to indicate economic disadvantage and to identify individuals and households in need of government assistance and aid. It is determined using various parameters which vary from state to state and within states. The present criteria are based on a survey conducted in 2002. Poverty line solely depends on the per capital income in India rather than level of prices.
Q5. How sample method is differ from census method on the basis of cost?
Answer : Option C
Explaination / Solution:
Under sampling technique a lot of expenses are saved both in terms of money and energy not only in the collection of data but also in the ministration, transport and training etc. This is because in sample technique only an action of the population is studied and examined to arrive at the desired conclusion, thus, economy is maintained in all the phases of the enquiry conducted under this technique.
Q6. Which of the following are renewable resources (i) Trees (ii) Coal (iii) Water (iv) Fish. Options are
Answer : Option A
Explaination / Solution:
No Explaination.
Q7. The narrow definition of money is not based on
Answer : Option A
Explaination / Solution:
No Explaination.
Q8. The price relative is a price index that is determined by
Answer : Option A
Explaination / Solution:
No Explaination.
Q9. Which of the following are indicators of HDI are
Answer : Option D
Explaination / Solution:
Indicators of Human Development Index are education, life expectancy (longetivity) and per capita income (standard of living).
Q10. Under exclusive method
Answer : Option B
Explaination / Solution:
Each class interval has two limits viz lower class limit and upper class limit. When developing a frequency distribution one usually looks at the type of variable discrete or continuous. when lower class limit is included but upper limit is excluded it is an exclusive class interval which is concerned with continuous variable.
