Practice Test

Q1) Who is the author of "The Nature and causes of wealth of Nation"? Show Answer

Q2) Micro economics does not study Show Answer

Q3) Find out the correct statement Show Answer

Q4) Which of the following illustrate a decrease in unemployment using the PPF? Show Answer

Q5) The law of demand shows _________ relationship between price and quality demanded, other things remaining the same. Show Answer

Q6) The price elasticity of demand when the price of X decreases form Rs. 40 per piece to Rs. 20 per piece will be equal to Show Answer

Q7) The cross elasticity of monthly demand for Y when the price of X decreases from Rs. 40 to Rs. 20 is equal to Show Answer

Q8) Suppose income of the residents of locality increase by 50% and the quantity of X commodity increase by 20% what is income elasticity of demand for commodity X? Show Answer

Q9) Total utility is maximum when Show Answer

Q10) When indifference curve is L shaped then two goods will be Show Answer

Q11) After reaching saturation point consumption of additional units of commodity causes Show Answer

Q12) Elasticity of supply is greater than one when Show Answer

Q13) The conclusion drawn from Cobb-Douglas production function is that labour contributed about _______ and capital about ______ of the increase in the manufacturing production. Show Answer

Q14) Diminishing marginal returns implies Show Answer

Q15) When the output of a firm increase in the short run, its average fixed cost Show Answer

Q16) Which of the following cost curves is never 'U' shaped? Show Answer

Q17) "I am making a loss, but with the rent I have to pay, I can't afford to shut down at this point of time". If this entrepreneur is attempting to maximize profits or minimize losses. Show Answer

Q18) Kinked demand curve is the demand curve of Show Answer

Q19) Price discrimination will be profitable only if the elasticity of demand in different markets is Show Answer

Q20) Under which of the following form of market structure does a firm have no control over the price of its production? Show Answer

Q21) _________ is that situation in which a firm bases its market policy, in part on the expected behaviour of a few close rivals. Show Answer

Q22) In the figure, curve E is the firm's Show Answer

Q23) Above figure represents a Show Answer

Q24) In the figure, firms marginal revenue curve is curve Show Answer

Q25) The share of agriculture in India's national income has ________ over the years. Show Answer

Q26) In country 'X', if NNP at market price remained constant and depreciation increased compared to the previous year, then GNP at market prices will ______ . Show Answer

Q27) GNP at market price minus ______ is equal to GDP at market price. Show Answer

Q28) Personal income tax is levied on Show Answer

Q29) Which of the following statements is correct? Show Answer

Q30) Which of the following statement is correct with regard to causes of high birth rate? Show Answer

Q31) Which of the following scheme is not related to reduce poverty in India? Show Answer

Q32) Disguised unemployment commonly refers to Show Answer

Q33) Which of the following industries is not reserved for public sector? Show Answer

Q34) The combined phenomenon of demand pull and cost push inflation is called _____ . Show Answer

Q35) From the following which is the main cause of inflation in India? Show Answer

Q36) Meaning of fiscal deficit is Show Answer

Q37) Which of the following indicates fiscal deficit? Show Answer

Q38) Balance of trade is Show Answer

Q39) Which of the following components of India's external debt accounts for the largest share? Show Answer

Q40) At present, 100% FDI is allowed in Show Answer

Q41) FRBM Act stands for Show Answer

Q42) What is globalization? Show Answer

Q43) Which of the following is false about WTO? Show Answer

Q44) Which institution is known as the "Soft lending arm" of World Bank? Show Answer

Q45) Which of the following statement about money is incorrect? Show Answer

Q46) Bank rate is Show Answer

Q47) In order to encourage investment in the country, the RBI may Show Answer

Q48) The ratio of third proportion of 12, 30 to the mean proportion of 9, 25 is Show Answer

Q49) What number must be added to each of the numbers 10, 18, 22, 38 to make the numbers is proportion? Show Answer

Q50) If 3x - y = 2, 5x + ay = 3 and 2x + y = 3 are concurrent lines, then the value of 'a' is Show Answer

Q51) The equation of line passing through the point of intersection of the lines y = 3 and x + y = 0 and parallel to the 2x - y = 4 is Show Answer

Q52) Suppose your parent decides to open a PPF (Public Provident fund) account in a bank towards your name with Rs. 10,000 every year starting from today for next 15 years. When you receive and get 8.5% per annum interest rate compounded annually. What is the present value of this annually? (Give answer in Rs. without any fraction.) Show Answer

Q53) In how many years will a sum of money become four times at 12% p.a. simple interest? Show Answer

Q54) The simple interest for a certain sum for 2 years at 10% per annum is Rs. 90. The corresponding compound interest is (in Rs) Show Answer

Q55) An examination paper with 10 questions consists of 6 questions in mathematics and 4 questions in statistic part. At least one question from each part is to be attempted in how many ways can this be done? Show Answer

Q56) There are 6 men and 4 women in a group, then the number of ways in which a committee of 5 persons can be formed of them, if the committee is to include at least 2 women are Show Answer

Q57) If a, b, c are in Arithmetic Progression (A.P.), then the value of a - b + c is Show Answer

Q58) Find the two numbers whose geometric mean is 5 and arithmetic mean in 7.5. Show Answer

Q59) If A = (x, y, z), B = (a, b, c, d), then which of the following relation from the set A to set B is a function? Show Answer

Q60) In a class of 80 students, 35% students can play only cricket, 45% students can play only table tennis and the remaining students can play both the games. In all how many students can play cricket? Show Answer

Q61) The most common form of diagrammatic representation of a grouped frequency distribution is Show Answer

Q62) Classification is of _______ kinds. Show Answer

Q63) The chart that uses logarithm of variable is known as Show Answer

Q64) What is the value of mean deviation about mean from the number 5, 8, 6, 3 and 4? Show Answer

Q65) For the observation of 6, 4, 1, 6, 5, 10, 4, 8 the range is Show Answer

Q66) If a variance of a random variable 'x' is 23, then what is variance of 2x + 10 ? Show Answer

Q67) Quartiles can be determined graphically using Show Answer

Q68) In a class of 50 students, 10 have failed and their average marks in 2.5. The total marks secured by the entire class were 281. The average marks who have passed is Show Answer

Q69) Out of the following which is correct? Show Answer

Q70) In case of "Insurance Companies" profits and the number of claims they have to pay there is _________ correlation Show Answer

Q71) If an unbiased die is rolled once, the odds in favour of getting a point which is multiple of 3 is Show Answer

Q72) A bag contains 15 one rupee coins, 25 two rupee coins and 10 five rupees coins, if a coins is selected at random than probability for not selecting a one rupee coin is Show Answer

Q73) Three coins are tossed together, the probability of getting exactly two head is Show Answer

Q74) If two letters are taken at random from the word "HOME", what is the probability that none of the letters would be vowels? Show Answer

Q75) Standard deviation of binomial distribution is Show Answer

Q76) The wages of workers of factory follows Show Answer

Q77) The measure of precision obtained by sampling is given by Show Answer

Q78) For an unknown parameter, how many interval estimates exist? Show Answer

Q79) As a sample size increases, the standard error Show Answer

Q80) If a random sample of 500 oranges produces 25 rotten oranges, then the estimate of sample, proportion of rotten oranges in the sample is Show Answer

Q81) Consumer price index number for the year 1977, was 313, with 1960 as the base year, and was 96 for the year 1960. The average monthly wages in 1977 of the workers into factory be Rs. 160, their real wages is Show Answer