Economics - Online Test
Q1. Under employment occurs when people
Answer : Option C
Explaination / Solution:
Labor that falls under the underemployment classification includes those workers who are highly skilled but working in low paying jobs, workers who are highly skilled but working in low skill jobs and part-time workers who would prefer to be full time.
Q2. Wealth is a
Answer : Option D
Explaination / Solution:
No Explaination.
Q3. If two negatively sloped demand curves intersect then elasticity of demand at the point of intersection will be
Answer : Option A
Explaination / Solution:
No Explaination.
Q4. Non-tariff barriers mainly include
Answer : Option C
Explaination / Solution:
Non tariff barriers include restrictions on both the quantity and quality of the commodity that can be imported. Commodities can be imported neither in a higher quantity nor of a lower quality than specified.
Q5. Point out a demerit of fixed exchange rate
Answer : Option B
Explaination / Solution:
yes it contradicts with the objectives of free markets .It can be explained as
suppose,
· If a currency is falling below its band the government will have to intervene. It can do this by buying sterling but this is only a short term measure.
· The most effective way to increase the value of a currency is to raise interest rates. This will increase hot money flows and also reduce inflationary pressures.
· However higher interest rates will cause lower AD and economic growth, if the economy is growing slowly this may cause a recession and rising unemployment
Q6. If mean and coefficient of variation of a set of data is 10 and 5, then S.D. is
Answer : Option D
Explaination / Solution:
No Explaination.
Q7. Which of the following is false regarding non-commercial source of energy
Answer : Option D
Explaination / Solution:
Coal, petroleum products, natural gas and, electricity are the important components of commercial energy.
Q8. Capital intensive technique would get chosen in
Answer : Option B
Explaination / Solution:
Capital surplus is a term used by economists to denote capital inflows in excess of capital outflows on a country's balance of payment's.
Q9. Where does breakeven point lie in a diagram?
Answer : Option B
Explaination / Solution:
No Explaination.
Q10. The nature of correlation for shoe size and IQ is _________
Answer : Option A
Explaination / Solution:
There is no relationship between the shoe size of a person and his IQ and therefore there is no correlation
