Preparation of butter, ghee by a household for their own use is a part of :

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Q1211. Preparation of butter, ghee by a household for their own use is a part of :
(a) own-account production
(b) household capital formation
(c) industrial production
(d) consumption
Ans: (d)
Q1212. Over short period, when income rises, average propensity to consume usually
(a) rises
(b) falls
(c) remains constant
(d) fluctuates
Ans: (b)
Q1213. The basic problem studied in Macro – Economics is
(a) production of income
(b) usage of income
(c) flow of income
(d) distribution of income
Ans: (a)
Q1214. The relationship between the rate of interest and level of consumption was first visualized by
(a) Amartya K. Sen
(b) Milton Friedman
(c) Irving Fisher
(d) James Duesenberry
Ans: (c)
Q1215. Regarding money supply situation in India it can be said that the :
(a) Currency with the public is inconvertible only.
(b) Currency with the public is less than the deposits with the banks.
(c) Currency with the public is more than the deposits with the banks.
(d) Currency with the public is almost equal to the deposits with banks.
Ans: (b)
Q1216. Equilibrium price in the market is determined by the
(a) equality between marginal cost and average cost.
(b) equality between total cost and total revenue.
(c) equality between average cost and average revenue.
(d) equality between marginal cost and marginal revenue.
Ans: (d)
Q1217. Surplus budget is recommended during :
(a) Boom (b) Depression
(c) Famines (d) War
Ans: (b)
Q1218. Barter transactions means
(a) Goods are exchanged with gold.
(b) Coins are exchanged for goods.
(c) Money acts as a medium of exchange.
(d) Goods are exchanged with goods.
Ans: (d)
Q1219. Average Fixed Cost Curve is
(a) Upward sloping
(b) ‘U’ shaped
(c) ‘V’ shaped
(d) Downward sloping
Ans: (d)
Q1220. Market segmentation is:
(a) Group of Sales Persons
(b) Dividing target groups as per their needs
(c) Market Division
(d) Market Space
Ans: (b)
Q1221. When average product of an input is at its maximum then :
(AP= Average product)
(MP= Marginal product)
(a) AP = 0 (b) AP = MP
(c) AP > MP (d) AP < MP Ans: (b) ________________________________________ Q1222. Apart from the availability of raw material location of an industry is also dependent on the availability of: (a) enviornmental protection and vegetation (b) man power and energy source (c) transport and bio energy (d) water and inputs Ans: (b) ________________________________________ Q1223. Backward bending supply curve belongs to which market? (a) Capital (b) Labour (c) Money (d) Inventories Ans: (b) ________________________________________ Q1224. Short term contractions and expansions in economic activity are called _____ (a) Expansions (b) Recession (c) Deficits (d) The business cycle Ans: (d) ________________________________________ Q1225. One of the following is ‘Labour’ in Economics. (a) A Musician performing for a benefit fund (b) A Painter working for his own pleasure (c) Reading a book as a hobby (d) A Mother teaching her own son Ans: (a) ________________________________________ Q1226. Which of the following is not a feature of a capitalist economy? (a) Right to private property (b) Existence of competition (c) Service motive (d) Freedom of choice to consumers Ans: (c) ________________________________________ Q1227. HDI is an aggregate measure of progress in which of the three dimensions? (a) Health, Education, Income (b) Food Security, Employment, Income (c) Agriculture, Industry, Services (d) Height, Weight, Colour Ans: (a) ________________________________________ Q1228. Lorenz curve shows (a) Inflation (b) Unemployment (c) Income distribution (d) Poverty Ans: (c) ________________________________________ Q1229. An indifference curve measures ______________ level of satisfaction derived from different combinations of commodity X and Y. (a) same (b) higher (c) lower (d) minimum Ans: (a) ________________________________________ Q1230. The innovation theory of profit was proposed by (a) Marshall (b) Clark (c) Schumpeter (d) Joan Robbinson Ans: (c) ________________________________________ Q1231. Which one of the following is not a feature of monopoly ? (a) Single seller of the product (b) Heavy selling costs (c) Barriers to entry of new firms (d) Price discriminations Ans: (b) ________________________________________ Q1232. Economic development depends on : (a) Natural resources (b) Capital formation (c) Size of the market (d) All of the above Ans: (d) ________________________________________ Q1233. An economic theory is a/an (a) Axion (b) Proposition (c) Hypothesis (d) Tested hypothesis Ans: (b) ________________________________________ Q1234. The business in Stock Markets and other securities markets is regulated (a) Securities and Exchange Board of India (b) Sole Trade and Exchange Bank of India (c) State and Exchange Bank of India (d) Stock and Exchange Bank of India Ans: (a) ________________________________________ Q1235. Which is the parameter for the economic development ? (a) Per capita monetary income (b) National income (c) Per capita rural income (d) Population Ans: (a) ________________________________________ Q1236. If people’s income of a country is denoted in a curved line space that it has increased, then what does it denote? (a) the income is increasing (b) the income is decreasing (c) dissimilarity is decreasing in income distribution (d) dissimilarity in income distribution is increasing Ans: (c) ________________________________________ Q1237. Interest on public debt is a part of : (a) transfer payments by the enterprises (b) transfer payments by the Govt. (c) national income (d) interest payments by households Ans: (b) ________________________________________ Q1238. What is referred to as “Depository Services” ? (a) A new scheme of fixed deposits (b) A method of regulating stock exchanges (c) An agency for safe-keeping of securities (d) An advisory service to investors Ans: (c) ________________________________________ Q1239. Government securities are considered liquid because they are (a) backed by the Government treasury (b) convertible into other types of saving deposits (c) quickly and easily marketable (d) stable in value Ans: (c) ________________________________________ Q1240. Evaluating all the options to find out most suitable solution to business problems is inter-displinary activities. It is called (a) Professional research (b) Management research (c) Operational research (d) Commercial research Ans: (c)

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