Economics - Online Test
Q1. If the ratio of change between the two variables is a constant then there will be
Answer : Option A
Explaination / Solution:
Because due to this constant change, the data form a straight line on graph paper.
Q2. According to UNO those countries are considered relative poor where per capita income is less than
Answer : Option A
Explaination / Solution:
Per capita income or average income measures the average income earned perperson in a given area (city, region, country, etc.) in a specified year. It is calculated by dividing the area's total income by its total population.
Q3. Data collected by research institutions , scholars , trade associations but not published is
Answer : Option A
Explaination / Solution:
Because the data has not been published, it is known as unpublished data. Still the data from these sources may be used when needed.
Q4. Absorptive capacity means
Answer : Option C
Explaination / Solution:
No Explaination.
Q5. Before producer’s equilibrium when MR>MC, the firm earns only
Answer : Option B
Explaination / Solution:
No Explaination.
Q6. Money is something that is
Answer : Option D
Explaination / Solution:
Money is widely accepted as a medium of exchange. It can be used to buy a commodity.
Q7. Match the following. Options are as follows
Answer : Option B
Explaination / Solution:
(i) Laspeyre suggested that for the purposes of calculating Price Indices, the quantities in the base year should be taken as weights.
(ii) Paasche’s method of calculating Price Index, the quantities of the current year are used as weights.
(iii) The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mining, electricity and manufacturing.
(ii) Paasche’s method of calculating Price Index, the quantities of the current year are used as weights.
(iii) The Index of Industrial Production (IIP) is an index for India which details out the growth of various sectors in an economy such as mining, electricity and manufacturing.
Q8. People of which age group are treated as productive labour force
Answer : Option B
Explaination / Solution:
People falling in the age group of 15-60 have the education and health and can be trained on-the-job as well. They thus contribute extensively to the society.
Q9. Which variable increase in jumps or in complete numbers
Answer : Option C
Explaination / Solution:
Discrete variable over a particular range of real values is one for which, for any value in the range that the variable is permitted to take on, there is a positive minimum distance to the nearest other permissible value. The number of permitted values is either finite or countably infinite.
Q10. Which of the following is the monetary measure (i) A check on the supply of money (ii) Increases in rate of interest (iii) Price control and rationing. Options are
Answer : Option C
Explaination / Solution:
No Explaination.
