Economics - Online Test
Q1. The descriptive measure of dispersion that is based on the concept of a deviation about the mean is
Answer : Option A
Explaination / Solution:
Standard deviation for a given set of observations is defined as root mean square deviation when deviations are taken from mean.
Q2. MTOE stands for
Answer : Option C
Explaination / Solution:
MTOE is the acronym for Million tonnes of Oil Equivalent. It is a unit to quantify the amount of energy which is released by the burning of a million tonnes of crude oil.
Q3. Who gets how much in an economy is best described by which of the following central problems?
Answer : Option A
Explaination / Solution:
For whom to produce 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.
Q4. Variable costs vary with output because
Answer : Option C
Explaination / Solution:
No Explaination.
Q5. Which of the following is not a use for r?
Answer : Option A
Explaination / Solution:
Power Analysis allows us to determine the sample size required to detect an effect of a given size and it does not require the use of r.
Q6. The poverty line defined for urban areas as consumption worth rs ____ per person a month
Answer : Option A
Explaination / Solution:
Suresh Tendulkar Committee defined the poverty line on the basis of monthly spending on food, education, health, electricity and transport. According to this estimate, a person who spends Rs. 27.2 in rural areas and Rs. 33.3 in urban areas a day are defined as living below the poverty line. The Rangarajan panel considered people living on less than Rs. 32 a day in rural areas and Rs. 47 a day in urban areas as poor.
Q7. Which of the following is not the source of government publications?
Answer : Option C
Explaination / Solution:
Union and state governments at time appoint some committees or commissions to make research into any problem such as Finance Commission, Minority Commission, Planning Commission etc. These committees are given a term to probe into the matter. After the expiry of the term, they present the report to the respective authority, which are then published.
Q8. Estimates of soil erosion show that soil is being eroded at a rate of ____ excess of the recharge capacity
Answer : Option D
Explaination / Solution:
No Explaination.
Q9. The fraction of deposits kept as Cash Reserves by the commercial banks is called
Answer : Option A
Explaination / Solution:
No Explaination.
Q10. WPI means……………..
Answer : Option D
Explaination / Solution:
The Wholesale Price Index (WPI) is the price of a representative basket of wholesale goods.
