Economics - Online Test
Q1. As a general rule, the _______ is the best measure of central tendency because it is more precise.
Answer : Option B
Explaination / Solution:
The mean is usually the best measure of central tendency to use when your data distribution is continuous and symmetrical, such as when your data is normally distributed.
Q2. The unemployment rate for ______ are found to be higher than for _____
Answer : Option B
Explaination / Solution:
Hardly 22 percent of women are employed in the country. Roughly 78 percent of women are busy with domestic chores.
Q3. Which of the following in an example of macro economics
Answer : Option B
Explaination / Solution:
No Explaination.
Q4. Indifference curve slopes___________?
Answer : Option C
Explaination / Solution:
No Explaination.
Q5. LQP raj refers to
Answer : Option C
Explaination / Solution:
The license, quota, permit raj was the elaborate system of licences, regulations and accompanying red tape that were required to set up and run businesses in India between 1947 and 1990. The New Economic Policy (NEP) aimed at replacing LQP raj by liberalisation, privatisation and globalisation (LPG) policies.
Q6. If the demand for foreign exchange rises, supply schedule remaining the same, the exchange rate will rise. It is
Answer : Option B
Explaination / Solution:
No Explaination.
Q7. Square of standard deviation is called
Answer : Option B
Explaination / Solution:
The Standard Deviation is a measure of how spread out numbers are. Its symbol is σ (the greek letter sigma). The formula is easy: it is the square root of the Variance. So the square of σ is variance.
Q8. Health infrastructures include
Answer : Option C
Explaination / Solution:
Health infrastructure provides communities, states, and the Nation the capacity to prevent disease, promote health care i.e. Hospital
Q9. Calculate Purchase on Investment. The information is Opening balance of Investment – Rs. 2,50,000, closing balance Investment – Rs. 5,00,000, Sale – Rs.1,37,500, Profit on sale – Rs.12,500.
Answer : Option C
Explaination / Solution:
Purchses= (Closing stock+Sales)-(Opening stock + Profit). Purchase of investment during the year Rs.3,75,000 i.e. (5,00,000 + 1,37,500) – (2,50,000 + 12,500) = 3,75,000
Q10. How is MPP derived from TPP
Answer : Option C
Explaination / Solution:
No Explaination.
