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Paper 3
Batch:
Name :
Marks : 100 Marks
Time : 1.30 Hours
Attempt all questions. Each question carries 2 marks. There is no negative mark for incorrect answers.
Business Economics
PART-A
Q.1
Q.2
Q.3.
Q.4
Q.5
Q.6
Q.7
Q.8
Three steel plants in Bhilai,Rourkela and Durgapur were set up in the
a)
first plan
b)
second plan
c)
third plan
d)
fourth plan
Price elasticity of demand for individual firm is perfectly elastic. This is feature of……
A. Perfect competition
B. Monopoly
C. Monopolistic competition
D. (b) and (c)
…………..are not a function of output; they do not vary with output up to certain level of
activity.
A. Direct costs
B. Variable cost
C. Fixed costs
D. All of above
A firm Producing 7 units of output has an average total cost of Rs. 150 and has to pay
Rs. 350 to its fixed factors of production whether it produces or not. How much of the
average total cost is made up of variable costs?
A. Rs. 200
B. Rs. 50
C. Rs. 300
D. Rs. 100
Best shape of the PPC reflects
a)
diminishing opportunity cost
b)
constant opportunity cost
c)
increasing opportunity cost
d)
none of the above
The law of demand assumes that ……………. Remain the same in a given period.
A. Price of related goods
B. Price of unrelated goods
C. Price of goods itself
D. All of above
Central banks came into existence in the early … through official legislation.
A. 20th Century
B. 18th Century
th
C. 16 Century
D. 21st Century
Fisher’s Transaction Approach can explain the causes of …… that occurs during war or
emergency.
A. Normal peace time Inflation
B. Cost push inflation
C. Hyperinflation
D. Normal peace time inflation
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In the words of ………………, “ Other things remaining unchanged, as the quantity of
money in circulation increases the price level also increases in direct proportion and the
value of money decreases and vice versa”.
A. Irving Fredrick
B. Finlay
C. Irving Fisher
D. Alfred Marshall
Q.10 When the RBI was established The Government held shares of nominal value of …
A. Rs. 2,00,000
B. Rs. 2,20,000
C. Rs. 22,20,000
D. Rs. 25,00,000
Q.11 .............. is the rate at which commercial banks borrow money from the central bank in
case of any shortage of funds they face.
A. Bank rate
B. Treasury rate
C. Reverse repo rate
D. Repo rate
Q.12 If ed >1, we call it……….
a)
elastic demand
b)
unitary elastic demand
c)
inelastic demand
d)
perfectly inelastic demand
Q.13 If the cost of sugar rises and sugar is a major ingredient in jellly beans then the supply
of jelly bean
a)
demand curve shifts to the left
b)
supply curve shifts to the left
c)
supply curve shifts to the right
d)
demand and supply curves both shift to the right
Q. 14 Abolitions of intermediaries and tenancy reforms are both parts of ………..
A. Banking reforms in India
B. Land reforms in India
C. External sector reforms in India
D. Industrial reforms in India
Q.15 According to section 7 of Micro, Small and Medium Enterprises Development Act, 2006,
in the case of industry specified in the First Schedule to then Industries (Development
and Regulation) Act, 1951 where investment in Plant & machinery does more than Rs.
25 lakh but does not exceeds Rs. 5 Corores are classified as…………..
A. Large industry
B. Micro enterprise
C. Small enterprise
D. Medium enterprise
Q.16 It is estimated that currently, more than ………… of our population is in the age-group of
1-14 years
A. One-half
B. One-third
C. One-Fourth
D. Two-third
Q.17 Jawahar Rozgar Yojana has been introduced in 1989-1990 with a purpose of
……………..
A. Improving then rural women through the creation of income generation
activities
B. Taking up vocations of self employment in the broad fields of agriculture and
allied
C. Generating more employment in the country
D. All of above
Q.18 In 1952, Indian, was the ..country in the world to launch a national programme,
emphasizing family planning
A. First
B. Second
C. Third
D. Fourth
Q.9
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Q.19
The following data relate to the marks of a group of students:
Marks
No. of student
Below 10
15
Below 20
38
Below 30
65
Below 40
84
Below 50
100
How many students got marks more than 30?
A. 65
B. 50
C. 35
D. 43
Q.20 A weighted aggregate price index where the weight for each item its base period
quantity is known as the …………
A. Paasche Index
B. Consumer Price Index
C. Producer Price Index
D. Laspeyers Index
Q.21 Statistics which deals with the numerical data can be classified as ….
(a) Inductive Statistics
(b) Inferential Statistics
(c) Applied Statistics
(d) Descriptive Statistics
Q.22
Q.23
Q.24
Q.25
The elasticity of supply is defined as the
A. responsiveness of the quantity supplied of a good to a change in its price
B. responsiveness of the quantity supplied of good without change in its price
C. responsiveness of the quantity demanded of a good to a change in its price
D. responsiveness of the quantity demanded of a good without change in its
price
The positively sloped (i.e. rising) part of the long run average total cost curve is due to
which of the following?
A. Diseconomies of scale.
B. Increasing returns
C. The firm being able to take advantage of large-scale production techniques as
It expands its output.
D. The increase in productivity that results from specialization
In the third of the three stages of production:
A. the marginal product curve has a positive slope
B. the marginal product curve lies completely below the average product curve
C. total product increases
D. marginal product is positive
Which of the following statement is correct?
A. Price rigidity is an important features of monopoly
B. Selling costs are possible under perfect competition
C .Under perfect competition factors of production do not move freely as there
are legal restrictions
D. An industry consist of many frims
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Q.26
Q.27
Q.28
Q.29
Q.30
Q.31
Q.32
Q.33
Q.34
A purely competitive firm’s supply schedule in the short run is determined by
A. its average revenue
B. its marginal revenue
C. its marginal utility for money curve
D. its marginal cost curve
Which of the following statements is incorrect?
A. Even monopolistic can earn losses
B. Firms in a perfectly competitive market are price takes
C. It is always beneficial for a firm in a perfectly competitive market to
discriminate prices
D. Kinked demand curve is related to an oligopolistic market
When e = 1 then MR is
A. Positive
B. Zero
C. One
D. negative
…………measure which generally gives the lowest estimated of unemployment
especially for poor economy?
a)
Usual principle status
b)
CWS
c)
CDS
d)
CMS
Who among the following gave the definition of Economics as the “Science which deals
with wealth?
A. J.M.Keynes
B. H.C.Dickinson
C. Henry Smith’
D.J.B.Say
Adam smith published his masterpiece “ An Enquiry into the Nature and Causes of
Wealth of Nation” in the year
A. 1776
B. 1786
C. 1756
D. 1766
Which of the following is not a subject matter of micro-economies?
A. The price of mangoes
B. The cost of producing a fire truck for the fire department of Delhi, India
C. The quantity of mangoes produced for the mangoes market
D. The national economy’s annual rate of growth
Who expressed the view that “Economics is neutral between ends”?
A. Robbins
B.Marshall
C. Pigou
D. Adam Smith
Electricity Supply Act was enacted inA. 1955
B. 1965
C. 1975
D. 1985
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Q.35
Q.36
Q.37
Q.38
Q.39
Q.40
Q.41
Q.42
Q.43
The total arable territory in India isA. 1,269,219 Km2
B. 1,629,219 Km2
C.1,269,129 Km2
D. 1,269,216 Km2
As Part of privatization programme government equity in public sector is being unloaded
in the market, this is knows asA. Disinvestments
B. Liberalization
C. Globalisation
D. Free economy
In the theory of Demographic transition, in the last stageA. Birth rate rises, death rate rises
B. Birth rate rises. death rate falls
C. Birth rate falls, death rate rises
D. Birth rate falls, death rate falls
Median is unaffected extreme values.
A. True
B. False
C. Partly True
D. Partly False
…………… may be defined as the minimum value and the maximum value the class
interval may contain.
a)
class mark
b)
class limit
c)
both (a) and (b)
d)
none of the above
The standard deviation of 25 numbers is 40. If each of the number is increased by 5,
them the new standard deviation will beA. 40
B. 45
C. 41.5
D. None of these
The formula independent of the unit in which or for which price and quantities are quoted
isA. Unit Test
B. Factor Reversal Test
C. Time Reversal Test
D. None of the above
The index number of prices at a place in 1988 is 355 with 1991 as base. This meansA. There has been on the average of a 255% increase in prices
B. There has been on the average a 250 % increase in prices
C. There has been on the average a 355% increase in prices
D. None of the above
…………….Covers all those index numbers which measures the changes in total
money worth during same period compared with order period.
A. Price index numbers
B. Quantity index numbers
C. Value index numbers
D. None of the above
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Paper 3
Q.44
Croxton and cowden definers statistics as
A. The science which deals with classification and tabulation by numerical facts
as the basis for explanation, description and comparision of phenomenon.
B. The collection, presentation analysis and interpretation of numerical date.
C. The science of counting
D. The science if averages.
Q. 45 Co efficient of variance is a –
A. Absolute measure of dispersion
B. Relative measure of dispersion
C. Both (a) and (b)
D. None of the above
Q.46 Class widthA. Lower class boundary - upper class boundary
B. Lower class boundary + upper class boundary
C. Lower class Limit x upper class boundary
D. Lower class limit-upper class limit
Q.47 The simple interest on a sum of money is 4/9 of the principal .Find the rate percent and
time, if both are numerically equal.
A. 3 years 4 months
B. 6 years 8 months
C. 4 years 8 months
D. 5 years 8 months
Q.48 A sum was put at simple interest at a certain rate for 3 years. Had it been
put at 2% higher rate, it would have fetched Rs. 360 more. Find the sum.
A. Rs. 8000.
B. Rs. 6000.
C. Rs. 9000.
D. Rs. 6500.
Q. 4 A sum of Rs. 1550 is lent out into two parts, one at 8% and another one at
6%. If the total
annual income is Rs. 106, find the money lent at each rate.
A. Rs. 900
B. Rs. 9800
C. Rs. 8900
D. Rs. 7900
Q. 50 A sum of money at simple interest amounts to Rs. 815 in 3 years and to Rs. 854 in 4
years. The sum is:
A.
B.
C.
D.
Rs. 650
Rs. 690
Rs. 6908
Rs. 700