Economics - Online Test
Q1. ____________ is an ideal market?
Answer : Option C
Explaination / Solution:
No Explaination.
Q2. If the initial increase in the investment is Rs 1000 and MPC=0.8, the multiplier will be
Answer : Option A
Explaination / Solution:
No Explaination.
Q3. Life expectancy refers to
Answer : Option C
Explaination / Solution:
Life expectancy refers to the number of years a person is expected to live based on the statistical average.
Q4. A ________ becomes a _____ if we draw a line joining mid-points of the tops of all rectangles
Answer : Option B
Explaination / Solution:
A frequency polygon is a plane bounded by straight lines, usually four or more lines. Frequency polygon is an alternative to histogram and is also derived from histogram itself. A frequency polygon can be fitted to a histogram for studying the shape of the curve. The simplest method of drawing a frequency polygon is to join the midpoints of the topside of the consecutive rectangles of the histogram.
Q5. Farmers cannot retain the produce for a long time they have to sell it immediately. Which defect of agriculture is shown in this system
Answer : Option B
Explaination / Solution:
Most of the Indian farmers are very poor and thus have no capacity to wait for better price of his produce in the absence of proper credit facilities. Farmers often have to go for even distress sale of their output to the village moneylenders-cum-traders at a very poor price.
Q6. Green revolution refers to
Answer : Option C
Explaination / Solution:
The Green Revolution refers to a set of research and development of technology transfer initiatives occurring between the 1930s and the late 1960s, that increased agricultural production worldwide, particularly in the developing world, beginning most markedly in the late 1960s. The initiatives resulted in the adoption of new technologies and new methods of cultivation.The initiatives, led by Norman Borlaug, the "Father of the Green Revolution".
Q7. Schedule C industries development were left to
Answer : Option D
Explaination / Solution:
Schedule C includes all the remaining industries and their future development would be in general be left to the initiative and enterprise of the private sector
Q8. A surplus budget is one where
Answer : Option D
Explaination / Solution:
No Explaination.
Q9. The mean of 40 observations was 160. It was detected on re-checking that the value 165 was wrongly copied as 125 for computation of mean. Find the correct mean.
Answer : Option C
Explaination / Solution:
Mean is calculated as the sum of the values of all observations divided by the number of observations
N= 40 , Mean = 160
Sum of the values of all observations = 40 x 160 = 6400
Sum of the values of all observations after correction= 6400 -125 = 6275+165 = 6440
Correct Mean = 6440/40 = 161
N= 40 , Mean = 160
Sum of the values of all observations = 40 x 160 = 6400
Sum of the values of all observations after correction= 6400 -125 = 6275+165 = 6440
Correct Mean = 6440/40 = 161
Q10. When a person quits in order to find a second job it may cause temporary unemployment
Answer : Option C
Explaination / Solution:
Frictional unemployment is when workers leave their jobs to find better ones. It's usually a voluntary exit but can also result from a layoff or termination with cause. Friction is the time, effort, and expense it takes the worker to find a new job.
