MCQOPTIONS
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MCQOPTIONS
This section includes 120 Mcqs, each offering curated multiple-choice questions to sharpen your Geology knowledge and support exam preparation. Choose a topic below to get started.
| 51. |
"Phillips curve" shows the relationship between |
| A. | rate of inflation and rate of employment |
| B. | rate of wage increase and rate of unemployment |
| C. | rate of wage decrease and rate of unemployment |
| D. | rate of wage increase and rate of public investment |
| Answer» D. rate of wage increase and rate of public investment | |
| 52. |
Who among the following put forward the innovation theory of profit |
| A. | M.S. Douglas |
| B. | A.C. Pigou |
| C. | J.S. Mill |
| D. | Joseph Schumpeter |
| Answer» B. A.C. Pigou | |
| 53. |
Which of the following theories of business cycle was put forward by Hicks |
| A. | The innovation theory |
| B. | The monetary theory |
| C. | The overinvestment theory |
| D. | The multiplier accelerator theory |
| Answer» B. The monetary theory | |
| 54. |
Engel curve shows the relationship between |
| A. | two goods, say X and Y |
| B. | level of income and quantity purchased |
| C. | level of income and consumption |
| D. | level of income and the relative prices of the commodities |
| Answer» C. level of income and consumption | |
| 55. |
The zero price elasticity of demand (ep=0) is also called as |
| A. | perfectly inelastic demand |
| B. | perfectly elastic demand |
| C. | unitary elasticity of demand |
| D. | point elasticity of demand |
| Answer» E. | |
| 56. |
When demand of a commodity depends on the demand of some other commodities, it is called |
| A. | joint demand |
| B. | derived demand |
| C. | autonomous demand |
| D. | exclusive demand |
| Answer» E. | |
| 57. |
The decrease in the quantity demanded due to a rise in price is called |
| A. | contraction of demand |
| B. | extension of demand |
| C. | shift of demand |
| D. | multiplication of demand |
| Answer» B. extension of demand | |
| 58. |
Total utility becomes maximum, when |
| A. | marginal utility is zero |
| B. | marginal utility equals one |
| C. | marginal utility is negative |
| D. | marginal utility is more than one |
| Answer» D. marginal utility is more than one | |
| 59. |
The wealth based definition of Economics was put forward by |
| A. | Lionel Robbins |
| B. | Alfred Marshall |
| C. | Adam Smith |
| D. | David Ricardo |
| Answer» C. Adam Smith | |
| 60. |
The concept of "Vicious Circle of Poverty" is related to |
| A. | Karl Marx |
| B. | Nurkse |
| C. | Adam Smith |
| D. | None of the above |
| Answer» C. Adam Smith | |
| 61. |
The value of a commodity expressed in terms of money is known as |
| A. | Price |
| B. | Utility |
| C. | Value |
| D. | Wealth |
| Answer» B. Utility | |
| 62. |
According to the monetarists, the Phillips curve in the long-run is |
| A. | Horizontal |
| B. | Vertical |
| C. | Upward sloping |
| D. | Downward sloping |
| Answer» C. Upward sloping | |
| 63. |
Who among the following showed that an import tariff can reduce domestic price |
| A. | Metzler |
| B. | Krugman |
| C. | Machlup |
| D. | Salvatore |
| Answer» B. Krugman | |
| 64. |
Who said that "Laws of Economics are like tides" |
| A. | Adam Smith |
| B. | David Ricardo |
| C. | L. Walras |
| D. | Alfred Marshall |
| Answer» E. | |
| 65. |
Who gave the concept of opportunity cost in 1914 |
| A. | Haberler |
| B. | Marshall |
| C. | Gossen |
| D. | Wieser |
| Answer» E. | |
| 66. |
Who among the following economists has not given a model to explain pricing in a duopoly market |
| A. | Bertrand |
| B. | Chamberlin |
| C. | Cournot |
| D. | Stackelberg |
| Answer» C. Cournot | |
| 67. |
When the economic growth in one region had adverse effect on the other regions, it is called |
| A. | Backwash effect |
| B. | Brain drain effect |
| C. | Trickle down effect |
| D. | International demonstration effect |
| Answer» B. Brain drain effect | |
| 68. |
According to Stackelberg, where is the "Cournot Point" situated on the demand line of a firm |
| A. | When elasticity is unity |
| B. | When elasticity is less than unity |
| C. | When elasticity is more than unity |
| D. | Anywhere on the demand line |
| Answer» D. Anywhere on the demand line | |
| 69. |
According to Meadows, the "Limits to growth" should be |
| A. | Zero percent |
| B. | Between 5-10 percent |
| C. | Between 10-25 percent |
| D. | Between 25-50 percent |
| Answer» B. Between 5-10 percent | |
| 70. |
Who has given the theory of "Big Push" |
| A. | Paul N. Rosentein-Rodan |
| B. | Arthur Lewis |
| C. | Harvey Leibenstein |
| D. | H. Stiglitz |
| Answer» B. Arthur Lewis | |
| 71. |
The cost that a firm incurs on purchasing raw materials for producing a commodity is known as |
| A. | Total cost |
| B. | Variable cost |
| C. | Fixed cost |
| D. | Implicit cost |
| Answer» C. Fixed cost | |
| 72. |
What would you derive when total expenditure is deducted from total receipt |
| A. | National Income |
| B. | Money deficit |
| C. | Budgetory deficit |
| D. | Demand deficit |
| Answer» D. Demand deficit | |
| 73. |
For an Inferior Good having income effectless than substitution effect, the demand curve will be |
| A. | Slope Downward |
| B. | Slope Upward |
| C. | Become a straight line |
| D. | None of the above |
| Answer» B. Slope Upward | |
| 74. |
The need of Double Co-incidence of Wants is associated with |
| A. | Unplanned Economy |
| B. | Parallel Economy |
| C. | Barter System |
| D. | Socialist Economy |
| Answer» D. Socialist Economy | |
| 75. |
Price Effect is a combination of |
| A. | Income effect and supply effect |
| B. | Income effect and substitution effect |
| C. | Income effect and depreciation effect |
| D. | Appreciation effect |
| Answer» C. Income effect and depreciation effect | |
| 76. |
"Money is what money does". Who said this |
| A. | Adam Smith |
| B. | Walker |
| C. | Budgetory deficit |
| D. | Demand deficit |
| Answer» C. Budgetory deficit | |
| 77. |
Which of the following period is known as "Plan holiday" |
| A. | 1955-1960 |
| B. | 1966-1969 |
| C. | 1972-1977 |
| D. | 1980-1984 |
| Answer» C. 1972-1977 | |
| 78. |
Invention of Money is the outcome of |
| A. | Scare of resource |
| B. | Difficulties in Barter system |
| C. | People demand for money |
| D. | None of the above |
| Answer» B. Difficulties in Barter system | |
| 79. |
Parallel Economy refers to |
| A. | Economy run by black money |
| B. | Exitence of Monopoly and Perfect Competition in the market |
| C. | Existence of Private and Public Sectors |
| D. | Economy run parallel with price and supply of money |
| Answer» B. Exitence of Monopoly and Perfect Competition in the market | |
| 80. |
The Lorenz Curve shows the relationship between |
| A. | Deflation and Unemployment |
| B. | Income and Expenditure |
| C. | Population groups and their respective income shares |
| D. | Level of Income and Quantity purchased |
| Answer» D. Level of Income and Quantity purchased | |
| 81. |
The rate at which the Reserve Bank of India gives loans to Commercial bank is called |
| A. | Bank rate |
| B. | Statutory rate |
| C. | Credit rate |
| D. | Cash Reserve rate |
| Answer» B. Statutory rate | |
| 82. |
In India, the Fiscal year start from |
| A. | 28th February |
| B. | 1st April |
| C. | 30st April |
| D. | 20th March |
| Answer» C. 30st April | |
| 83. |
Money burden of a tax refers to |
| A. | reduction in consumption |
| B. | reduction in expenditure |
| C. | reduction in disposable income |
| D. | reduction in personal assets |
| Answer» B. reduction in expenditure | |
| 84. |
"Bad money drives good money out of Circulation" is known as |
| A. | Gresham's law |
| B. | J. S. Mill law |
| C. | Fishers law |
| D. | Monetary law |
| Answer» B. J. S. Mill law | |
| 85. |
Which of the following pairs is not correctly matched |
| A. | Indifference Curve ---- Hicks |
| B. | Revealed Preferance Theory ---- Samuelson |
| C. | Cardinal Utility Approach ---- Joan Robinson |
| D. | Input-Output Analysis ---Leontieff |
| Answer» D. Input-Output Analysis ---Leontieff | |
| 86. |
The lowering of official exchange rate between One Country's currency and those of rest of the World is known as |
| A. | Demonetization |
| B. | Devaluation |
| C. | Depreciation |
| D. | Expansion |
| Answer» C. Depreciation | |
| 87. |
A profit maximizing firm will stop production in short run, if price is |
| A. | More than Average Cost |
| B. | Equal to Fixed Cost |
| C. | Less than Average Variable Cost |
| D. | Less than Marginal Cost |
| Answer» D. Less than Marginal Cost | |
| 88. |
The tertiary sector of an economy refers its |
| A. | Primary Sector |
| B. | Manufacturing Sector |
| C. | Service Sector |
| D. | Secondary Sector |
| Answer» D. Secondary Sector | |
| 89. |
The term "Production" in Economics refer to |
| A. | Creation of Utility |
| B. | Creation of Object |
| C. | Creation of Space |
| D. | Innovation of an object |
| Answer» B. Creation of Object | |
| 90. |
The term "Macroeconomics" was used by __ |
| A. | J. M. Keynes |
| B. | Ranger Frisch |
| C. | Ranger Nurkse |
| D. | Prof. Knight |
| Answer» C. Ranger Nurkse | |
| 91. |
Who invented the General Equilibrium analysis |
| A. | Alfred Marshall |
| B. | John Maynard Keynes |
| C. | Léon Walras |
| D. | Carl Menger |
| Answer» D. Carl Menger | |
| 92. |
The LM curve is drawn as __ sloping |
| A. | Upward |
| B. | Downward |
| C. | Zero |
| D. | None of the above |
| Answer» B. Downward | |
| 93. |
The IS curve is drawn as __ sloping |
| A. | Upward |
| B. | Downward |
| C. | Zero |
| D. | None of the above |
| Answer» C. Zero | |
| 94. |
Who has written the book "Principles of Economics" |
| A. | Léon Walras |
| B. | Carl Menger |
| C. | Alfred Marshall |
| D. | Friedrich von Wieser |
| Answer» D. Friedrich von Wieser | |
| 95. |
The IS–LM model was developed by |
| A. | John Maynard Keynes |
| B. | Alvin Hansen |
| C. | John Hicks |
| D. | None of the above |
| Answer» D. None of the above | |
| 96. |
The formula used for computing current ratio is |
| A. | Current Assets / Current Liabilities |
| B. | Net Income/Shareholder's Equity |
| C. | Marginal Cost/Average Cost |
| D. | Total Liabilities / Shareholders Equity |
| Answer» B. Net Income/Shareholder's Equity | |
| 97. |
At the break-even point, the total cost is equal to |
| A. | Total lost |
| B. | Total revenue |
| C. | Total capital |
| D. | Total profit |
| Answer» C. Total capital | |
| 98. |
The market in which share prices are going up in knwon as |
| A. | Bear Market |
| B. | Bull Market |
| C. | Lion market |
| D. | Capital Market |
| Answer» C. Lion market | |
| 99. |
Uniform price is a feature of |
| A. | Perfect competition |
| B. | Oligopoly |
| C. | Monopolistic Competition |
| D. | Monopoly |
| Answer» B. Oligopoly | |
| 100. |
The Equation of exchange is associated with which economist |
| A. | Friedrich Hayek |
| B. | Ragnar Frisch |
| C. | A.C.Pigou |
| D. | Irving Fisher |
| Answer» E. | |