Economics - Online Test
Q1. In final goods
Answer : Option B
Explaination / Solution:
No Explaination.
Q2. An indifference curve indicates, ceteris paribus?
Answer : Option A
Explaination / Solution:
No Explaination.
Q3. Institutions that engage in mobilisation and allocation of savings
Answer : Option A
Explaination / Solution:
Financial Institutions by engaging in mobilisation and allocation of savings, act as a channel between the savers and borrowers of funds.
Q4. Managed floating exchange rate is a system in which the
Answer : Option D
Explaination / Solution:
Managed flow regeime is the current international finance environment in which exchange rates fluctuate from day to day, but central banks attempt to influence their countries' exchange rates by buying and selling currencies. It is also known as a dirty flow.
In an increasingly integrated world economy, the currency rates impact any given country's economy through the trade balance. In this aspect, almost all currencies are managed since central bank or government intervene to influence the value of their currencies.
Q5. What would happen to the variance of a data set if we multiplied every observation by 5?
Answer : Option B
Explaination / Solution:
Change in variance is the square of change in scale.
Q6. Conventional source of energy are
Answer : Option D
Explaination / Solution:
Conventional source of energy are commercial and non-commercial sources of energy. Commercial sources are coal, petroleum and electricity as they are bought and sold. Non-commercial sources of energy are firewood, agricultural waste and dried dung. These are non- commercial as they are found in nature/forests.
Q7. An economy always produces on, but not inside a PPC.
Answer : Option B
Explaination / Solution:
When an economy produces on PPC it mean there is no unemployment and all the resources are fully and being used efficiently but practically . If there is unemployment or inefficient use of resources an economy will operate inside the PPC.
Q8. Market supply is best defined as
Answer : Option C
Explaination / Solution:
No Explaination.
Q9. Correlation refers to
Answer : Option A
Explaination / Solution:
Correlation between two variables shows how the two series are associated with each other. How one variable changes with the change in other
Q10. A level of expenditure at which minimum food needs are met is called
Answer : Option D
Explaination / Solution:
Tendulkar methodology defines poverty not in terms of annual income, but in terms of consumption or spending per individual over a certain period for a basket of essential goods.
