Economics - Online Test
Q1. The NEP in 1991 was initiated by the
Answer : Option D
Explaination / Solution:
The NEP in 1991 was initiated by the then Union finance minister Dr. Manmohan Singh.
Q2. A component of capital account of balance of payment is
Answer : Option D
Explaination / Solution:
All transactions relating to borrowings from abroad by private sector, government, etc. Receipts of such loans and repayment of loans by foreigners are recorded on the positive (credit) side.
All transactions of lending to abroad by private sector and government. Lending abroad and repayment of loans to abroad is recorded as negative or debit item.
Capital account of BOP records all those transactions, between the residents of a country and the rest of the world, which cause a change in the assets or liabilities of the residents of the country or its government. It is related to claims and liabilities of financial nature.
Q3. While drawing Lorenz curve zero of X-axis and 100 on Y-axis are joined by a line. This line is known as
Answer : Option A
Explaination / Solution:
No Explaination.
Q4. Which of the following is secondary source of energy
Answer : Option A
Explaination / Solution:
A secondary source of energy is one that is made using a primary resource, electricity, which is transformed from primary sources such as coal, raw oil, fuel oil, natural gas, wind, sun, streaming water, nuclear power, gasoline etc.
Q5. The study of jute industry is a macroeconomic study. This statement is
Answer : Option B
Explaination / Solution:
Micro economics deals with determination of prices and quantities in individual markerts and with the relationship among these markets.
Q6. The supply curve of a firm shows
Answer : Option A
Explaination / Solution:
No Explaination.
Q7. If two variables are highly correlated, what do you know?
Answer : Option C
Explaination / Solution:
High degree of correlation implies that there is a strong relationship between the two variables and that the changes in one variable cause predictable changes in the other variable.
Q8. The Planning Commission has defined the poverty line on the basis of recommended nutritional requirement of ____ calories per person per day for rural areas
Answer : Option D
Explaination / Solution:
In India, defining a poverty line has been a controversial issue, especially since mid-1970s when the first such poverty line was created by the erstwhile Planning Commission. It wasbased on minimum daily requirement of 2,400 and 2,100 calories for an adult in rural and urban areas, respectively.
Q9. The census act , in india, was passed in the year ____ .
Answer : Option D
Explaination / Solution:
This Act was enacted by the government of India on 3rd September 1948 to deal with the legal principles governing the taking of census. This Act applies to the whole India including Jammu and Kashmir.
Q10. The black soil of the Deccan Plateau is particularly suitable for cultivation of _______.
Answer : Option C
Explaination / Solution:
The black soil of the Deccan Plateau is particularly suitable for cultivation of cotton, leading to concentration of textile industries in this region.
