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GK - Economics Test - 01

1. An upward and leftward movement of an upward-sloping supply curve for a commodity could be caused by all of the following, except

a. the imposition of an excise tax

b. a shift of tastes in favour of the product

c. a fall in productivity

d. a rise in production costs

2. A producer under monopolistic advertises his product so that it can

a. reduce the marginal cost of the product

b. increase the demand for his product

c. reduce the production cost of the product

d. meet the demand in the market

3. Expenditure on which of the following is, not considered investment in the theory of income determination ?

a. Stocks, or shkres. in a joint-stock company

b. Factory construction

c. Increase in stocks of unsold goods

d. A computer

4. Slationalisation or public control of an industry is often supported by economists because

a. if has been making excessive losses

b. it has been making continuous profits

c. it is a natural monopoly

d. similar industries in another country have been nationalised

5. When average cost increases marginal cost is

a. below average cost

b. above average cost

c. equal to average variable cost

d. equal to average cost

6. The surn of the marginal propensity to consume and the marginal propensity to save must be equal to

a. disposable income

b. one

c. the multiplier

d. zero

7. It will pay a monopolist to cut the price of his product if

a. the demand curve facing him is relatively elastic

b. he is making a loss

c. marginal revenue is greater than marginal cost

d. average total cost is falling

8. If the elasticity of demand for a good is equal to (-)2 then a 1 percent price rise will

a. raise the quantity demanded by 2 percent

b. raise the total revenue by 1 percent

c. lower the quantity demanded by 2 percent

d. lower the quantity demanded by 1 percent

9. Which Plan recommended ZeroBased Budgeting (ZBB) as a step to control public expenditure ?

a. Fifth Plan

b. Sixth Plan

c. Seventh Plan

d. Eighth Plan

10. If income is below equilibrium

a. income will tend to rise

b. investment will tend to fall

c. prices will tend to fall

d. stocks of unsold goods will tend to increase

General Knowledge

1. World Geography -Test-01

2. World Geography -Test-02

3. World Geography -Test-03

4. Geography of India -Test-01

5. Geography of India -Test-02

6. Geography of India -Test-03

7. Geography of India -Test-04

8. Geography of India -Test-05

9. History of India - Test - 01

10. History of India - Test - 02

11. History of India - Test - 03

12. History of India - Test - 04

13. History of India - Test - 05

14. History of India - Test - 06

15. History of India - Test - 07

16. INM-Test-01

17. INM-Test-02

18. INM-Test-03

19. INM-Test-04

20. INM-Test-05

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