Total Questions: 

63
Total Marks: 100

Assignment Information :

The examination will consist of only Objective type (multiple choice) questions
requiring candidates to Mouse-click their correct choice of alternatives against the
related question number. The questions would carry 1 to 5 marks each depending
on the difficulty level of the question as indicated in the table below:

Difficulty Level of Questions:

1 Mark - Direct, Memory based

2 Marks - Memory & Conceptual
3 Marks - Conceptual & Analytical
4 Marks - Analytical based on understanding of concepts
5 Marks - Application based on understanding of concepts
  The question paper will be for 100 marks and considering marks allotted to
each question, the total number of questions would be around 63.
  There will not be negative marking for wrong answers.
  In case candidate does not want to attempt the question he I she should not
mouse-click any option.
  The students are allowed to save the responses and come back later to resume,
complete and "Save and Submit" the assignment. However, if the Due Date has expired,
then the assignment will not be accessible and will be marked as zero. In such cases, the
student can re-attempt the assignment allocated after enrolling in the subsequent
Semester.
  Once submitted, that answer sheet cannot be retreieved for any editing. The
student has to initiate a new attempt (if allowed), if he has submitted the assignment by
mistake.
  The students are normally allowed 3 chances to attempt and submit the
assignment. The number of attempts availed is displayed under the "Test Information".
  The Highest Grade of the 3 attempts shall be considered for grading.
  The assignments are auto evaluated, and hence no chance of re-evaluation/re-
totalling is allowed to the student.
Multiple Attempts This Test allows 3
attempts. This is
attempt number 1.
Force Completion This Test can be
saved and resumed
later.

 Question Completion Status:

QUESTION 1
1. Marginal Utility curve is always falling

 True

 False

2 points   
QUESTION 2
1. Marginal cost curve cuts the average cost curve
at its lowest point
at its highest point
 2 points   
QUESTION 3
1. Define Utility
want satisfying power of a commodity
usefulness
satisfaction
desire

2 points   
QUESTION 4
1. Necessities have low income elasticity

 True

 False

2 points   
QUESTION 5
1. Desire means demand.

 True

 False

2 points   
QUESTION 6
1. A measurable value is a variable

 True

 False

2 points   
QUESTION 7
1. Can two indifference curves intersect each other?
No.
yes

2 points   
QUESTION 8
1. If a decrease in income causes an individual's demand curve for a good to shift to the
left, then the good is inferior.

 True

 False

2 points   
QUESTION 9
1. Creation of Utility is also known as
 production
consumption
distribution
exchange

2 points   
QUESTION 10
1. Delphi Technique is the way of getting repeated opinions of experts without their face
to face transactions

 True

 False

2 points   
QUESTION 11
1. Indicate below what is NOT a factor of production.
Land.
A bank loan
Labor.
Capital

2 points   
QUESTION 12
1. Write the formula of NNP?
C+I+G+(X-M)+NFIA-depreciation
C-I-G+(X-M)
C+I+G(X-M)+subsidies
C+I+G-X-M+subsidies

2 points   
QUESTION 13
1. Which line shows the total expenditure or cost of the firm when only labour and
capital is used by the firm?
An Isoquant
An indifference curve
Price Line
Demand Curve

2 points   
QUESTION 14
1. Scarcity of resources arises only in poor countries

 True

 False
 2 points   
QUESTION 15
1. Demand is elastic for
luxuries
comforts
necessities

4 points   
QUESTION 16
1. Stock and Supply is the same thing

 True

 False

4 points   
QUESTION 17
1. National income is also known as NNP at factor cost

 True

 False

4 points   
QUESTION 18
1. "If P0 denotes the price of commodity O and MU indicates the MU derived from
commodity O, the Marginal Utility of O is same as its price, the consumer will be in
equilibrium."

 True

 False

4 points   
QUESTION 19
1. "If it is observed that in a particular market price has risen and quantity exchanged has
increased, it is likely that"
Owners receive a profit more than their opportunity cost.
Owners receive a profit less than their opportunity cost
Owners receive a profit equal to their opportunity cost.

4 points   
QUESTION 20
1. Payment of income tax by an individual is included in national income

 True

 False

3 points   
QUESTION 21
1. Which of the following statements is incorrect?
Monetary Policy is relatively ineffective when the interest elasticity of investment is
low(IS curve is steep)
Monetary Policy is relatively ineffective, when the interest elasticity of demand for
money is high(LM curve is flat)
Fiscal Policy is relatively ineffective, when the interest elasticity of demand for money
is low(LM curve is steep)
Fiscal policy is ineffective when interest rate elasticity of investment is low(IS curve is
steep)
3 points   
QUESTION 22
1. Which of the following is not a type of market structure?
Competitive monopoly
Oligopoly
Perfect competition
All of the above are types of market structures.

3 points   
QUESTION 23
1. As per CSO classification, which of the following does not fall under the industrial
sector?
Construction
Manufacturing
Fisheries
Mining

3 points   
QUESTION 24
1. Marginal Utility curve always
slopes upward
never slopes upward
parallel to OX-axis
falling under normal conditions

1 points   
QUESTION 25
1. The RBI made Indian Rupee fully convertible in current account transactions related
to goods and services in the year
1985
2002
1994
2001

1 points   
 QUESTION 26
1. A numerical description of the outcome of an experiment is called a
descriptive statistic
probability function
variance
random variable

1 points   
QUESTION 27
1. A fall in the price of the commodity leads to
a fall in demand
a shift in demand
a rise in demand
None of these

1 points   
QUESTION 28
1. The Imperial Bank of India, after its nationalization came to be known as
State Bank of India
Union Bank of India
Vijaya Bank
Punjab National Bank

1 points   
QUESTION 29
1. The only merger of two public sector banks took place between 
Punjab national bank and New bank of India
PNB and Vijaya bank
PNB and Gramin Bank
PNB and Coperative bank

1 points   
QUESTION 30
1. Marginal costs curve intersects the
ATC,AFC,AVC curves at the minimum points
ATC and AVC curves at their minimum points
ATC and AFC at their minimum points
AFC and AVC curves at their minimum points

1 points   
QUESTION 31
1. When the Law of diminishing returns begin to operate the TVC curve begins to
rise
 fall

remain constant

1 points   
QUESTION 32
1. A monopolist is a price
maker
taker
Incorrect

1 points   
QUESTION 33
1. Short term regular variations related to the calendar or time of day is known as
Trend
Seasonality
Cycles
Random Variations

1 points   
QUESTION 34
1. From the society’s point of view, the economic function of profits and losses, is to
Promote the equal distribution of real assets and wealth
Achieve full employment and price level stability
Contribute to a more equal distribution of income.
Reallocate resources from less desired to more desired uses.

1 points   
QUESTION 35
1. Under monopoly the supply curve is absent because
MC is falling

MR > MC

Advertising cost is increasing

Average cost seems about to fall

1 points   
QUESTION 36
1. The demand curve shows the relationship between
quantity demanded and price

quantity supplied and price

both of these

1 points   
QUESTION 37
1. What is the modern form of money?
paper and plastic money
grain and cattle
metallic money
cowrie shells

1 points   
QUESTION 38
1. In which denomination were India's first bimetallic coins issued in the year 2009.
Rs 10

Rs 5

Rs 20

Rs 2

1 points   
QUESTION 39
1. Barter is the exchange of goods for goods

 True

 False

1 points   
QUESTION 40
1. The value of NNP at factor cost is equal to 
GNP at market price minus net indirect taxes minus depreciation
GNP at factor cost minus net indirect taxes

GNP at factor cost minus depreciation 

NNP at market price minus depreciation

1 points   
QUESTION 41
1. The net value of GDP after deducting depreciation from GDP is
Net national product
Net domestic Product
Gross National Product
Disposable Income

1 points   
QUESTION 42
1. A characteristic of monopolistic competition is
a low ratio of fixed to variable costs.
a high capital-output ratio.
 product differentiation.
the absence of advertising

1 points   
QUESTION 43
1. Which bank was inaugurated by Mahatma Gandhi in 1919?
Union Bank of India
PNB
Vijaya Bank
Syndicate Bank

1 points   
QUESTION 44
1. Fiscal policy refers to the
government's ability to regulate the functioning of financial markets.

spending and taxing policies used by the government to influence the level of economic activity

techniques used by firms to reduce its tax liability.

the policy by MAS to affect the cash rate.

1 points   
QUESTION 45
1. Inflation initiated by the the increase in aggregate demand is termed as
Demand Pull inflation
Cost push inflation
Stagflation

1 points   
QUESTION 46
1. The income effect of a price change is negative in the case of-
inferior good
substitute good
independent good
a normal good

1 points   
QUESTION 47
1. There are four phases of a business cycle. Identify the correct sequence of the
occurrence of these phases
Recovery, Recession,Expansion, Depression
Recovery,Expansion, Depression,Recession
Depression, Expansion, Recession, Recovery
Recovery, expansion, recession, depression
 1 points   
QUESTION 48
1. Creeping inflation is when the price rise by 2 to 3%

 True

 False

1 points   
QUESTION 49
1. Which of the following is the apex institution which handles refinance for agriculture
and rural development in India?
NABARD
IDBI
RRB
SIDBI

1 points   
QUESTION 50
1. A firm that break even after all the economic costs are paid in earning
Economic Profit
Accounting profit
Normal Profit
Supernormal
profit
1 points   
QUESTION 51
1. The horizontal demand curve for a commodity shows that its demand is
perfectly elastic
highly elastic
fairly elastic
All of the above

1 points   
QUESTION 52
1. Reserve Bank of India is the Central bank of India

 True

 False

1 points   
QUESTION 53
1. A perfectly competitive firm has which kind of demand curve
perfectly elastic

perfectly inelastic
 inelastic

elastic

1 points   
QUESTION 54
1. The price elasticity of demand depends upon
percentage change in the quantity demanded

percentage change in price

both of these

1 points   
QUESTION 55
1. "Human Welfare is the subject of Economics.” This statement is associated with the name of which of
the economists ?
Marshall

Robbins

Adam Smith

All of these

1 points   
QUESTION 56
1. The most important source of revenue to the states is
Sales tax
Service tax
Excise duty
None of these

1 points   
QUESTION 57
1. If demand curve of commodity is parallel to Y axis then it shows
highly elastic
perfectly inelastic
fairly inelastic
moderately elastic

1 points   
QUESTION 58
1. Market-penetration pricing refers to the practice of:
setting a high initial price and then penetrating the market with successive prices for
each price sensitive layer.
setting a low initial price to penetrate the market quickly and attract a large number of
buyers to win a large market share.
 pricing products very high to penetrate deeply and quickly into large profits for the
company.
1 points   
QUESTION 59
1. In which year was the Imperial Bank of India rechristened as State Bank of India?
1955
1965
1978
1970

1 points   
QUESTION 60
1. When the elasticity is unity, a rectangular hyperbola is formed.

 True

 False

1 points   
QUESTION 61
1. A variable that takes on the values of 0 or 1 and is used to incorporate the effect of
qualitative variables in a regression model is called
an interaction
a constant variable
a dummy variable
none of the above is correct

1 points   
QUESTION 62
1. If a demand curve of a community is parallel to OY-axis then it shows
E=0

E<1

E>1

E=1

1 points   
QUESTION 63
1. Banks create credit
on the basis of their cash deposits
on the basis of demand deposits
on the basis of savings deposits
on the basis of recurring deposits

1 points   
Click Save and Submit to save and submit. Click Save All Answers to save all answers.