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GK - Economics Test - 01

1. Which one of the following is not a flow concept ?

a. Production

b. Capital

c. Investment

d. Consumption

2. VAT scheme is ex~ected to

a. raise the prices of foreign goods

b. raise the prices of luxury goods

c. lower the prices of goods of I everyday use

d. avoid repeated payment of duty from the raw materials stage to the final product and thus reduce the burden of duty on the final product

3. An indifference curve for an individual consumer represents graphically

a. the quantities of one good which are equal to quantities of another good

b. the way in which a consumer spends his income on two goods

c. the possible combination of two goods which he can buy with his income

d. combinations of two goods which have the same marginal utility

4. A Firm will shut down rather than carry on producing in the short run if

a. average revenue is less than average total cost

b. total revenue is less than total variable cost

c. marginal revenue is less than niarginal cost

d. price is less than average revenue

5. Development means economic growth plus

a. price stability

b. social change

c. inflation

d. deflation

6. 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

7. 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

8. 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

9. Disguised unemployment is the prominent feature of

a. tertiary sector

b. secondary sector

c. primary sector

d. all of the above

10. 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

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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