MCQs on Economics -37

1. Consider the following about All India GST:
1. It is a destination based tax
2. India will become one common market without state barriers.
3. It is proposed to keep alcohol and petroleum out of the ambit of GST.
4. It is proposed to keep Entry tax out of the ambit of GST.

Select the correct answer using the codes given below:
(A) 1, 2, 3 and 4
(B) 1, 3 and 4 only
(C) 2 and 3 only
(D) 1, 2 and 3 only


2. GDP Deflator is defined as
(A) GDP growth adjusted for wholesale price Index (WPI) based inflation rate.
(B) GDP growth adjusted for Consumer Price Index (CPI) based inflation rate.
(C) Ratio of GDP at current Prices to GDP at constant prices.
(D) Ratio of GNP to GDP.


3. In the context of India’s Five Year Plan, a shift in the pattern of industrialization, with lower emphasis on heavy industries and more on infrastructure begins in
(A) Fourth plan
(B) Sixth plan
(C) Eighth plan
(D) Tenth plan


4. An increase in interest rate in the economy will
1. Decrease investment Expenditure
2. Decrease Consumption Expenditure
3. Lead to higher demand pull inflation
4. Lead to lower level of Effective Demand

Select the correct answer using the codes given below
(A) 1 only
(B) 1 and 2 only
(C) 1, 2 and 3 only
(D) 1, 2 and 4 only


5. Which is correct about the Indian Depository Receipts (IDR)
i. An IDR listed on an Indian exchange represents ownership in shares of a foreign firm.
ii. Stan Chart is the first and only issuer of IDR in the Indian markets.
(A) Only 1
(B) Only 2
(C) Both 1 and 2
(D) Neither 1 nor 2


6. Consider the following about the recently released Human Capital Index and Identify the correct statement(s)
1. It is prepared by the World Economic Forum based on 25 indicators
2. India is currently ranked 100 among the 124 nation list
3. Human capital deployment is one of the indicators
4. Norway has topped the list
(A) 2, 3
(B) 3, 4
(C) 1, 2, 4
(D) Only 4


7. The concept of „costing margin in the pricing theory was introduced by? 
(A)Andrews
(B) Baumol
(C)Cournot
(D) Williamson


8. The Keynesian theory of employment provides the solution of?
(A) Frictional unemployment
(B) Disguised unemployment
(C) Cyclical unemployment
(D) Seasonal unemployment


9. Mathematics was first used economic theory by?
(A)Weiser
(B) Walras
(C)Cournot 
(D) Pigou


10. The terms „NEER and „REER are related with?
(A) Foreign exchange rate
(B) External economic resources:
(C) National and regional economic equality
(D) Environmental regulation


11. For the calculation of percentile, the data should be arranged in?
(A) Ascending order
(B) Descending order
(C) Random order
(D) Either random or descending order


12. As per BASEL-II norms, a banks capital to risk weighted assets ratio (CRAR) should be at least?
(A) 8%
(B) 10%
(C) 12%
(D) 14%


13. Indias foreign exchange rate system is?
(A) Free float
(B) Managed float
(C) Fixed
(D) Fixed target of band


14. The shape of a frequency curve cannot be?
(A) U-shaped
(B) V Shaped
(C) J-shaped
(D) S-shaped


15. Which of the following is pure unitless number?
(A) Mathematical average
(B) Statistical average
(C) Absolute measure of dispersion
(D) Relative measure of dispersion

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