Economics - Online Test
Q1. A rise in the income of the consumer leads to a fall in the demand for commodity ‘x’. What type of good is commodity ‘x’?
Answer : Option D
Explaination / Solution:
No Explaination.
Q2. Fiscal deficit is that part of total government expenditure which is met by
Answer : Option B
Explaination / Solution:
Fiscal deficit arises when government expenditure is more than government revenue and therefore the balance is met through borrowings.
Q3. Balance of current account includes
Answer : Option D
Explaination / Solution:
No Explaination.
Q4. Lorenz Curve was devised by
Answer : Option C
Explaination / Solution:
It was developed by Max O. Lorenz in 1905 for representing inequality of the wealth distribution.
Q5. Energy crisis is a situation which arises when the
Answer : Option A
Explaination / Solution:
Energy crisis create only when supply and demand situation in the country imbalance Demand for all commercial fuels is more than its supply.
Q6. Positive economic analyses
Answer : Option C
Explaination / Solution:
Positive economics is objective and fact based, statements do not have to be correct, but they must be able to be tested and proved or disproved.
Q7. What happens to TR when MR is decreasing but remains positive
Answer : Option C
Explaination / Solution:
No Explaination.
Q8.
If then ?
Answer : Option B
Explaination / Solution:
Coefficients of correlation possess the property of symmetry, i.e., rxy=ryx .
Q9. Impose more taxes on rich and commodity of luxury consumption will
Answer : Option D
Explaination / Solution:
In the present era of social and political awakening, it has become a major plank of political policy that inequalities of incomes should be reduced, if not eliminated. India also has decided to set up a ‘socialistic pattern of society’. With this end in view, the government strives to prevent the concentration of wealth and income in a few hands.
Q10. In ____ information is recorded by the informants themselves whereas in ____ information as supplied by the informants is recorded by the enumerators.
Answer : Option D
Explaination / Solution:
Questionnaire is generally sent through mail to informants to be answered as specified in a covering letter, but otherwise without further assistance from the sender. Whereas, a schedule is generally filled by the research worker or enumerator, who can interpret the questions when necessary.
