Economics - Online Test
Q1. Industrial sector and agricultural sector are
Answer : Option B
Explaination / Solution:
Agricultural sector and industrial sector are complementary to each other as Agricultural sector provides raw material to industrial sector which is used as input in their manufacturing industries.
Q2. Fiscal deficit
Answer : Option D
Explaination / Solution:
No Explaination.
Q3. The median of an ordered set of data is the value that represents
Answer : Option D
Explaination / Solution:
The median can be easily computed by sorting the data from smallest to largest and counting the middle value.
Q4. Which of the following economic activity is not in the tertiary sector?
Answer : Option A
Explaination / Solution:
The tertiary sector consists of industries which provide a service, such as transport and finance etc.
Q5. Can the net factor income earned from abroad be positive?
Answer : Option D
Explaination / Solution:
No Explaination.
Q6. Which of the following assumption is not necessary for the cardinal utility theory?
Answer : Option C
Explaination / Solution:
No Explaination.
Q7. LPG stands for
Answer : Option A
Explaination / Solution:
LPG stands for Liberalisation, Privatisation and Globalisation which was the model of economic reforms in India in 1991.
Q8. Foreign exchange rate of a country is the
Answer : Option D
Explaination / Solution:
Foreign exchange rate defines the price of currency of domestic country in terms of foreign currency
Q9. Calculate mean deviation from mean for the following data: 100, 150, 200, 250, 360, 490, 500, 600, 671
Answer : Option A
Explaination / Solution:
No Explaination.
Q10. Operational efficiency of a thermal plant is measured by
Answer : Option B
Explaination / Solution:
A plant load factor (PLF) is a measure of average capacity utilization of Thermal Power Plant.
