Economics - Online Test
Q1. A good that cost rs 100 in may 2007 cost 125 by may 2008 what is the rate of inflation
Answer : Option A
Explaination / Solution:
No Explaination.
Q2. Is AR = price
Answer : Option C
Explaination / Solution:
No Explaination.
Q3. If MPC is less than one, it follows that
Answer : Option D
Explaination / Solution:
No Explaination.
Q4. How much percentage of import and export were restricted to be between India and Britain
Answer : Option D
Explaination / Solution:
The focus was on exploitation of raw materials from India for the manufacturing industry of Britain.
Q5. Smooth curve joining the points corresponding to the frequency and provides frequency curve of the data
Answer : Option A
Explaination / Solution:
The frequency curve is obtained by drawing a smooth freehand curve passing through the points of the frequency polygon as closely as possible. It may not necessarily pass through all the points of the frequency polygon but it passes through them as closely as possible.
Q6. Organic farming is preferred because it
Answer : Option C
Explaination / Solution:
Organic farming is a system of farming that relies upon the use of organic inputs for cultivation.
Q7. Which currency is universally accepted
Answer : Option B
Explaination / Solution:
First and foremost is the U.S. dollar, which is easily the most traded currency on the planet. The USD can be found in a pair with all the other major currencies and often acts as the intermediary in triangular currency transactions.
Q8. Import substitution means
Answer : Option D
Explaination / Solution:
Import substitution advocates replacing foreign imports with domestic production. Its objective is to reduce domestic country's dependence on foreign country through the local production of industrialized products.
Q9. Fiscal deficit is equal to
Answer : Option C
Explaination / Solution:
No Explaination.
Q10. Measures of central tendency are
Answer : Option A
Explaination / Solution:
Inferential statistics allows us to draw conclusions from data that identify the best single value for representing a set of data.
