Economic and Social Development - Online Test
Q1. The government budget shows the government’s
Answer : Option D
Explaination / Solution:
No Explaination.
Q2. MODE
Answer : Option B
Explaination / Solution:
Mode is the most fashionable values of a distribution, because it is repeated the highest number of times in the series. It is denoted by Mo.
Q3. When added net factor income from abroad to GDP we get
Answer : Option C
Explaination / Solution:
NFIA) refers to the net flow of property income to and from the rest of the world (net payments on income) plus the net flow of compensation of employees (net receipts on compensation). The NFIA is added to the Gross Domestic Product (GDP) to come up with the Gross National Product (GNP).
Q4. Nominal GNP is same as
Answer : Option D
Explaination / Solution:
No Explaination.
Q5. _____________ is the addition to total utility by the consumption of one additional unit of the commodity?
Answer : Option B
Explaination / Solution:
No Explaination.
Q6. In which major economic decisions (what to produce, how to produce and for whom to produce) are left to the free play of the market forces
Answer : Option B
Explaination / Solution:
Capitalist economy is the economy controlled by free play of market forces. Under such economics structure the sole focus of the producer is to earn maximum benefit. Social welfare is not awarded any concern, the only motive of such economy is maximum benefit or profit earning.'
Q7. The supply curve of foreign exchange is
Answer : Option C
Explaination / Solution:
No Explaination.
Q8. There are two types of measures of dispersion
Answer : Option C
Explaination / Solution:
Absolute measure of dispersion include range, quartile deviation, standard deviation, variance and relative measure of dispersion include coefficient of range, coefficient of quartile deviation, coefficient of standard deviation, coefficient of variance.
Q9. India invests only ____ % of its GDP on infrastructure which is far below that of China and Indonesia
Answer : Option A
Explaination / Solution:
Traditionally, the government has been solely responsible for developing the country’s infrastructure. But it was found that the government’s investment in infrastructure was inadequate.
Q10. The central problems of an economy are due to
Answer : Option B
Explaination / Solution:
Central economic problem asserts that an economy's finite resources are insufficient to satisfy all human wants and needs. It assumes that human wants are unlimited, but the means to satisfy human wants are scarce.
