Economics - Online Test
Q1. _____________ is defined as the difference between what the consumer is willing to pay for a product and what he actually pays?
Answer : Option C
Explaination / Solution:
No Explaination.
Q2. The process of removal of import restrictions which began in 1991 completed in phased manner with the removal of restrictions on
Answer : Option C
Explaination / Solution:
After 1991, India's trade policy was to encourage exports and removal of government control on imports. An important element of the changes in India's trade policy was the removal of quantitative restriction on imports under which 715 items were freed of quantitative restrictions.
Q3. If the Supply of foreign exchange rises, demand schedule remaining the same, the exchange rate will rise. It is
Answer : Option C
Explaination / Solution:
No Explaination.
Q4. the positive square-root of the arithmetic mean of the Square of the deviations of the given observation from their arithmetic mean is called
Answer : Option B
Explaination / Solution:
Standard Deviation is the positive square root of the mean of squared deviations from mean. So if there are five values x1, x2, x3, x4 and x5, first their mean is calculated. Then deviations of the values from mean are calculated. These deviations are then squared. The mean of these squared deviations is the variance. Positive square root of the variance is the standard deviation.
Q5. How Infrastructure contributes to economic development of a country
Answer : Option A
Explaination / Solution:
Infrastructure contributes to economic development of a country both by increasing the productivity of the factors of production and improving the quality of life of its people.
Q6. Under which type of activity will you classify the sale of shares of another company while preparing cash flow statement?
Answer : Option C
Explaination / Solution:
Sale of shares of other company are part of investment which is now sold by the company. It is sale of investment, so it will take place in investing activity.
Q7. How is APP derived from TPP
Answer : Option A
Explaination / Solution:
No Explaination.
Q8. Correlation coefficient is denoted by
Answer : Option B
Explaination / Solution:
"r" denotes Karl Pearson's coefficient of correlation.
Q9. Sampoorna Gramin Rozgar Yojna being implemented on a cost sharing ratio of ____ between the centre and states
Answer : Option B
Explaination / Solution:
The Sampoorna Grameen Rozgar Yojana was a scheme launched by the Government of India to attain the objective of providing gainful employment for the rural poor. From 1 April 1999, EAS became an allocation-based scheme. The programme was implemented through the Panchayati Raj institutions. The Sampoorna Grameen Rozgar Yojana was launched on 25 September 2001 by merging the provisions of Employment Assurance Scheme (EAS) and Jawahar Gram Samridhi Yojana (JGSY). The programme is self-targeting in nature and aims to provide employment and food to people in rural areas who lived below the poverty line.
Q10. The problem of doubtful conclusion arises mainly in
Answer : Option A
Explaination / Solution:
In this method , because the data is collected through indirect sources it may lead us to doubtful conclusion due to ignorance and carelessness of the witness.
