1. Under
monopolistic competition the cross elasticity of demand for the product of a
firm will be?

(A) Perfectly
elastic

(B) Perfectly
inelastic

(C) Highly
elastic

(D) Highly
inelastic

(A) Average
Cost Curve

(B) Average
Variable Cost Curve

(C) Average
Fixed Cost Curve

(D) Marginal
Cost Curve

(A)
Collection of data

(B)
Presentation of data

(C)
Classification of data

(D)
Interpretation of data

4. Which of
the following indices is based on only base year quantities?

(A) Laspeyre‟s
index

(B) Fisher‟s
index

(C) Kelley‟s
index

(D) Pasche‟s
index

5. The first
State in India-
which published its State Human Development Report, is?

(A) Kerala

(B) Madhya
Pradesh

(C) Gujarat

(D) Andhra
Pradesh

6. The
Utility Index Number has been developed by?

(A) Marshall and Edgeworth

(B) Hall and
Hitch

(C) Neumann
and Morgenstern

(D) Hicks and
Hanson

7. The
following theory is treated as „the third root of the logical theory of demand‟?

(A)
Diminishing marginal utility theory

(B)
Equi-marginal utility theory

(C) Revealed
preference theory

(D) Theory of
consumer‟s surplus

8. Employment
elasticity of growth is measured as?

(A)
Employment growth rate / GDP growth rate

(B)
Employment growth rate/Population growth rate

(C)
Employment growth rate/Unemployment growth rate

(D)
Employment growth rate// Per capita income growth rate

9. The
fundamental equation in Harrod‟s growth model is defined?

(A) In terms
of rate of growth of output

(B) In terms
of rate of growth of technology

(C) In
relation to the path of capital-labour ratio

(D) In terms
of rate of change of capital-output ratio

10. The best
average for the construction of index number is?

(A) Geometric
mean

(B)
Arithmetic mean

(C) Harmonic
mean

(D) Weighted
mean

11. The
minimum price below which the seller will not sell the goods, is known as?

(A) Estimated
price

(B)
Administered price

(C) Reserve
price

(D) Shadow
price

12. In the
equation C = C0 + alpha,Y, the behavioural coefficient is?

(A)C

(B) C0

(C)alpha

(D)Y

13. Automatic
stabilizer is a tool of?

(A) Taxation
policy

(B)
Employment policy

(C)
Population policy

(D) Export
policy

14. The price
of a commodity will increase if the increase in demand is?

(A) More than
increase in supply

(B) Less than
increase in supply

(C) Equal to
the increase in supply

(D) Not
related to the increase in supply,

15. Which of
the following assumptions is not correct for the Lewis model of growth?

(A) The
economy has two sectors

(B)
Capitalists reinvest all their profits

(C) Rural
wage is determined by marginal product of labour

(D) The
supply of rural labour to modern sector is perfectly elastic
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