Economics - Online Test
Q1. An Unbalanced budget is one where
Answer : Option D
Explaination / Solution:
No Explaination.
Q2. If the mean of five observations x, x + 2, x + 4, x + 6, x + 8 is 11. Find the mean of 1st three observations
Answer : Option B
Explaination / Solution:
Mean is calculated as the sum of the values of all observations divided by the number of observations
N= 3
Sum of the values of 1st. three observations = 11+9+7= 27
Mean = 27/3 = 9
N= 3
Sum of the values of 1st. three observations = 11+9+7= 27
Mean = 27/3 = 9
Q3. Unemployment arises due to inadequate aggregate demand associated with downswing, recession or depression of trade cycle
Answer : Option C
Explaination / Solution:
Cyclical unemployment is when workers lose their jobs because of downturns in the business cycle. You can tell when the economy contracts by measuring gross domestic product. If the economy contracts for two quarters or more, it's in a recession.
Q4. Which of the following will you include while estimating domestic product of India?
Answer : Option A
Explaination / Solution:
No Explaination.
Q5. One factor that causes a leftward shift of the demand curve out of the following is
Answer : Option A
Explaination / Solution:
No Explaination.
Q6. Industrial policy of 1991 was
Answer : Option B
Explaination / Solution:
The industrial policy of 1991 dereserved many of the industries which were previously reserved only for the public sector allowing the entry of the private sector. There are only 3 industries which are now reserved for the public sector.
Q7. Identify one of the types of balances in BOP account
Answer : Option D
Explaination / Solution:
No Explaination.
Q8. Which of the following is false regarding Dispersion
Answer : Option C
Explaination / Solution:
Dispersion (also called variability, scatter, or spread) is the extent to which a distribution is stretched or squeezed. Common examples of measures of statistical dispersion are the variance, standard deviation, and interquartile range. Dispersion is contrasted with location or central tendancy, and together they are the most used properties of distributions.
Q9. PLF stand for
Answer : Option A
Explaination / Solution:
PLF determines the exact loadability of the thermal power plant. Indirectly, it gives the performance of the power plant.
Q10. What does a point below a PPC show
Answer : Option C
Explaination / Solution:
A PPF graph shows the maximum production level for one commodity for any production level of the other commodity. A point below the curve signifies inefficiency.
