Economics - Online Test
Q1. At producer’s equilibrium when MR=MC, the firm earns only
Answer : Option C
Explaination / Solution:
No Explaination.
Q2. One of the measures of money supply is
Answer : Option D
Explaination / Solution:
No Explaination.
Q3. _________ is known as Ideal index number
Answer : Option C
Explaination / Solution:
Fisher has discovered weighted index number in which he tries to calculate best index number because he has taken both current and past years quantity as the base of price index number.
Q4. A person becomes a human resource when he/she
Answer : Option A
Explaination / Solution:
It is true that human capital is effective only when individuals possess the skills to work, are healthy and therefore willing to work. Age of human capital is a measure of physical ability and experience.
Q5. Chronological classification is
Answer : Option A
Explaination / Solution:
When data are observed over a period of time the type of classification is known as chronological classification. Such type of classification helps to compare the data of different time periods.
Q6. Continuously falling general price level is known as
Answer : Option C
Explaination / Solution:
Deflation is a decrease in the general price level of goods and services. It occurs when the inflation rate falls below 0%.
Q7. APC+APS should always be equal to 1
Answer : Option A
Explaination / Solution:
No Explaination.
Q8. Capital goods industries are those
Answer : Option D
Explaination / Solution:
Capital Goods refer to products that are used in the production of other products but are not incorporated into the new product. These include machine tools, industrial machinery.
Q9. __________ stands for brief and self explanatory headings of horizontal rows
Answer : Option B
Explaination / Solution:
Like a caption or column heading each row of the table has to be given a heading. The designations of the rows are also called stubs or stub items, and the complete left column is known as stub column. A brief description of the row headings may also be given at the left hand top in the table.
Q10. Golden revolution is related to
Answer : Option B
Explaination / Solution:
Horticulture is emerging as an important means of sustainable living in the rural areas.
