Competitive Exams: Economics MCQs (Practice-Test 90 of 122)

  1. Consider the following statements:

    1. Varsha Bima, the rainfall insurance scheme, is managed by the Agricultural Insurance Company of India Ltd (AICIL).

    2. The scheme was introduced during the 2007 southwest monsoon period.

    Which of the following given above is/are correct?

    1. 1 only

    2. 2 only

    3. Both 1 and 2

    4. Neither 1 nor 2

  2. Tax on Banking Cash Transactions (withdrawals) over a certain threshold in a single day was introduced in the Union Budget of which year?

    1. 2002 − 03

    2. 2004 − 05

    3. 2005 − 06

    4. 2006 − 07

  3. Consider the following statements:

    1. Annual Survey of Industries (ASI) extends to the entire country

    2. ASI covers all factories registered under Sections 2m i and 2m ii of the Factories Act, 1948.

    Which of the following given above is/are correct?

    1. 1 only

    2. 2 only

    3. Both 1 and 2

    4. Neither 1 nor 2

  4. Who among the following has suggested migration to accrual accounting system from cash-based accounting system in India?

    1. Y V Reddy

    2. R H Patil

    3. D N Ghosh

    4. C Rangarajan

  5. In which of the following years was the tax revenue as a percentage of GDP, the lowest?

    1. 2002 − 03

    2. 2003 − 04

    3. 2004 − 05

    4. 2005 − 06

  6. Which one of the following is the proportion of rain-fed agriculture to the net sown area in India?

    1. 40%

    2. 50%

    3. 60%

    4. 72%

  7. Consider the following statements about industrial relations on the basis of Economic Survey:

    1. There was a constant decline in the number of strikes and lockouts during 2000 − 05 in India.

    2. The maximum number of strikes and lockouts in the year 2006 were experienced by Kerala, followed by

    Tamil Nadu and West Bengal.

    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

  8. If median and mode of a set of observations are 206 and 26, respectively, then what is the value of mean of the observations?

    1. 16

    2. 179

    3. 184

    4. 19

  9. Lorenz curve enables one to study which of the following?

    1. Averages

    2. Dispersion

    3. Correlation

    4. Index numbers

  10. Which one of the following is correct for a normal distribution?

    1. Standard deviation > Mean deviation > Quartile deviation

    2. Quartile deviation > Mean deviation > Standard deviation

    3. Mean deviation > Standard deviation > Quartile deviation

    4. Quartile deviation < Mean deviation >

    Standard deviation

  11. Coefficient of correlation is independent of which of the following?

    1. Change of origin only

    2. Change of scale only

    3. Change of origin and scale

    4. None of the above

  12. Which one of the following is the correct expression for rank coefficient?

    1. 6 2 1 1 d n o

    2. 2 3 1 6 d n n o

    3. 2 2 1 6 1 d n o

    4. 2 3 1 6 1 d n o (where d is the difference in ranks of an observation and n is the total number of observations)

  13. Which one of the following indices satisfies both time reversal and factor reversal tests?

    1. Laspeyre's index number

    2. Fisher's index number

    3. Paasche's index number

    4. Kelly's index number

  14. Which one of the following index numbers is based on geometric mean?

    1. Laspeyre's index number

    2. Fisher's index number

    3. Paasche's index number

    4. Bowley's index number

  15. What is a strategy which makes an all out effort to provide the masses of people in India access to basic facilities such as health education, clean drinking water etc. termed as?

    1. Inclusive growth strategy

    2. Exclusive growth strategy

    3. Rapid growth strategy

    4. Balanced growth strategy