Economics - Online Test
Q1. The _______ is often the preferred measure of central tendency if the data are severely skewed.
Answer : Option E
Explaination / Solution:
The median is usually preferred to other measures of central tendency when your data set is skewed.
Q2. Which of the following is false regarding formal sector
Answer : Option C
Explaination / Solution:
Sector which encompasses all jobs with normal hours and regular wages, and are recognized as income sources on which income taxes must be paid can be termed as formal sector.
Q3. What must be added to domestic factor income to obtain national income?
Answer : Option D
Explaination / Solution:
No Explaination.
Q4. Which of the following curve has a negative slope and cannot interest each other?
Answer : Option C
Explaination / Solution:
No Explaination.
Q5. Monetary policy is the policy of
Answer : Option A
Explaination / Solution:
Monetary policy is the macroeconomic policy laid down by the central bank of the country.
Q6. A deficit in BOP occurs
Answer : Option B
Explaination / Solution:
Balance of payments includes all external visible and non-visible transactions of a country. If a country is importing more than it exports, its trade balance will be in deficit, but the shortfall will have to be counterbalanced in other ways – such as by funds earned from its foreign investments, by running down currency reserves or by receiving loans from other countries.
Q7. In case of open-ended classes, an appropriate measure of dispersion to be used is
Answer : Option A
Explaination / Solution:
As it is not much affected by extreme situations.
Q8. Which of the following are the indicators of health (i) Infant mortality (ii) Morbidity (iii) Life expectancy. Options are
Answer : Option A
Explaination / Solution:
People’s health by taking into account indicators like infant mortality, life expectancy.
Q9. Which central problem explains ‘who gets more and who gets less’?
Answer : Option D
Explaination / Solution:
This problem refers to selection of the category of people who will ultimately consume the goods, i.e. whether to produce goods for more poor and less rich or more rich and less poor. Since resources are scarce in every economy, no society can satisfy all the wants of its people. Thus, a problem of choice arises.
Q10. Marginal Revenue is
Answer : Option A
Explaination / Solution:
No Explaination.
