Competitive Exams: Economics MCQs (Practice-Test 83 of 122)

  1. The first quartile derived from a set of observations is 27 and its quartile deviation is 17. What is its third quartile?

    1. 59

    2. 61

    3. 65

    4. 57

  2. What is a cumulative percentage curve called?

    1. Frequency density curve

    2. Ogive curve

    3. Lorenz curve

    4. Frequency polygon

  3. In plan models, which type of model is generally used to check consistency among various sectors?

    1. Harrod-Domar model

    2. Input-output model

    3. Linear programming model

    4. Solow model

  4. Consider the following A dual economy implies

    1. the existence of domestic and export markets.

    2. modern industry and commercial agriculture co-existing with subsistence farming and traditional handicrafts.

    Which of the statements given above is/are correct?

    1. 1 only

    2. 2 only

    3. Both 1 and 2

    4. Neither 1 nor 2

  5. Theory of linkages is most appropriate for which kind of development models?

    1. Balanced growth models

    2. Unbalanced growth models

    3. Population growth models

    4. One sector growth models

  6. With which one of the following is backward bending supply curve usually associated?

    1. Land

    2. Labour

    3. Capital

    4. Organisation

  7. Which one of the following statements is correct? An increase in money supply in Keynesian framework results in

    1. a higher level of income and a higher rate of interest

    2. a lower level of income and a lower rate of interest

    3. a higher level of income and a lower rate of interest

    4. a lower level of income and a higher rate of interest

  8. Which one of the following statements is correct? A fall in the money supply results in the

    1. rightward shift in the IS curve

    2. rightward shift in the LM curve

    3. leftward shift in both die LM curve and the IS curve

    4. leftward shift in the LM curve only

  9. Which one of the following statements is correct? The IS function indicates the

    1. locus of the money market equilibrium

    2. locus of the commodity market equilibrium

    3. locus of the labour market equilibrium

    4. locus of both money and labour market equilibrium

  10. Which one of the following statements is correct? According to Keynes, fresh investment would be possible only if

    1. the marginal efficiency of capital exceeds the rate of interest

    2. the marginal efficiency of capital is less than the rate of interest

    3. the marginal efficiency of capital is positive

    4. the marginal efficiency of capital is negative

  11. Which one of the following statements is correct? Autonomous investment is

    1. functionally related to interest rate

    2. functionally related to both income and interest rate

    3. functionally related to income alone

    4. independent of income and interest rate

  12. Consider the following statements

    1. The MPC is higher in a poor country and lower in a rich country.

    2. Higher the MPC, higher will be the value of multiplier.

    3. Lower the MPS, lower will be the value of multiplier.

    Which of the statements given above are correct?

    1. 1 and 2

    2. 1 and 3

    3. 2 and 3

    4. 1, 2 and 3

  13. Match List-I with List-II and select the correct answer by using the code given below the lists

    List-I (Economist) List-II (Concept)
    1. AC Pigou

    2. JM Keynes

    3. JR Hicks-AH Hansen

    4. JS Duesenberry

    1. Liquidity Preference

    2. Real Balance Effect

    3. Ratchet Effect

    4. IS-LM Analysis

    • A
    • B
    • C
    • D
      • 2
      • 1
      • 4
      • 3
      • 4
      • 3
      • 2
      • 1
      • 2
      • 3
      • 4
      • 1
      • 4
      • 1
      • 2
      • 3
  14. In the diagram given above, which one of the following is indicated by the point A lying below the IS curve?

    1. Excess demand in the commodity market

    2. Excess supply in the money market

    3. Excess supply in the commodity market

    4. Equilibrium income and interest

  15. In the permanent income hypothesis of consumption, components of which one pair has a proportional-relationship?

    1. Permanent income and transitory income

    2. Permanent income and transitory consumption

    3. Permanent income and permanent consumption

    4. Transitory income and transitory consumption