McqMate
| 1. |
Who is the father of economics |
| A. | Samuelson |
| B. | Robinson |
| C. | Keynes |
| D. | Adam smith |
| Answer» D. Adam smith | |
| 2. |
Which of the following is not an example of macro economics |
| A. | GDP |
| B. | General price level |
| C. | Salary of a policeman |
| D. | Total savings |
| Answer» C. Salary of a policeman | |
| 3. |
TR and TC are in Trade off with one another when___________________ |
| A. | TR>TC |
| B. | TR<TC |
| C. | TR=TC |
| D. | None of these |
| Answer» C. TR=TC | |
| 4. |
‘How to produce ‘ is a ____________ economic problem |
| A. | Macro |
| B. | Micro |
| C. | Mixed |
| D. | None of these |
| Answer» B. Micro | |
| 5. |
Profit is the difference between total cost and ___________________ |
| A. | Total revenue |
| B. | Total expenditure |
| C. | Marginal revenue |
| D. | None of these |
| Answer» A. Total revenue | |
| 6. |
The law of demand can be illustrated through______________________ |
| A. | Supply schedule |
| B. | Demand schedule |
| C. | Price schedule |
| D. | None of these |
| Answer» D. None of these | |
| 7. |
Giffen goods are _____________________ |
| A. | Status goods |
| B. | Interior goods |
| C. | Luxury goods |
| D. | None of these |
| Answer» B. Interior goods | |
| 8. |
Which of the following is not an example for complementary goods |
| A. | Tea and coffee |
| B. | Car and petrol |
| C. | Ink and ink pen |
| D. | Bread and butter |
| Answer» A. Tea and coffee | |
| 9. |
Salt is an example for ______________goods |
| A. | Normal |
| B. | Prestige |
| C. | Interior |
| D. | Essential consumer goods |
| Answer» B. Prestige | |
| 10. |
Expand PIN |
| A. | Personal intelligence number |
| B. | Private identification number |
| C. | Personal identification |
| D. | Essential consumer goods |
| Answer» C. Personal identification | |
| 11. |
Who is the Governor of RBI |
| A. | Raghuram Rajah |
| B. | C.K.Patel |
| C. | P.Chidambaram |
| D. | Kapil sibal |
| Answer» A. Raghuram Rajah | |
| 12. |
The RBI was established in_____________________ |
| A. | 1945 |
| B. | 1936 |
| C. | 1935 |
| D. | 1930 |
| Answer» C. 1935 | |
| 13. |
Commercial banks grant____________________loans |
| A. | Long term |
| B. | Medium |
| C. | Short term |
| D. | None of these |
| Answer» C. Short term | |
| 14. |
Which is known as the central bank of India |
| A. | RBI |
| B. | ICICI |
| C. | IDBI |
| D. | SBI |
| Answer» A. RBI | |
| 15. |
Exchange control department of the RBI was constituted in |
| A. | 1937 |
| B. | 1938 |
| C. | 1939 |
| D. | 1940 |
| Answer» C. 1939 | |
| 16. |
IFCI is a __________________ bank |
| A. | Commercial bank |
| B. | Development bank |
| C. | Foreign bank |
| D. | Rural bank |
| Answer» C. Foreign bank | |
| 17. |
Which is the first development bank in India |
| A. | ICICI |
| B. | IFCI |
| C. | IDBI |
| D. | NIDC |
| Answer» B. IFCI | |
| 18. |
Unit Trust of India was set up in ____________________ |
| A. | 1964 |
| B. | 1965 |
| C. | 1966 |
| D. | 1967 |
| Answer» A. 1964 | |
| 19. |
Which bank concentrates on export promotion] |
| A. | EXIM |
| B. | ADB |
| C. | ICICI |
| D. | IFCI |
| Answer» A. EXIM | |
| 20. |
Cost theory explains the relationship between cost &_________________ |
| A. | Price |
| B. | Output |
| C. | Profit |
| D. | Revenue |
| Answer» B. Output | |
| 21. |
Alternative cost is also known as a ____________________ |
| A. | Book cost |
| B. | Actual cost |
| C. | Opportunity cost |
| D. | Full cost |
| Answer» C. Opportunity cost | |
| 22. |
Out of pocket cost are _______________ cost |
| A. | Implicit |
| B. | Explicit |
| C. | Actual |
| D. | Full |
| Answer» D. Full | |
| 23. |
The contribution is the difference between total revenue and ___________________ |
| A. | Fixed cost |
| B. | Variable cost |
| C. | Actual cost |
| D. | Full cost |
| Answer» B. Variable cost | |
| 24. |
The difference between break even sales and actual sales is known as _________________ |
| A. | Margin of safety |
| B. | Volume ratio |
| C. | Profit |
| D. | Contributing |
| Answer» A. Margin of safety | |
| 25. |
Break – even point is the point where________________________ |
| A. | TR>TC |
| B. | TR=TC |
| C. | TR<TC |
| D. | None of these |
| Answer» B. TR=TC | |
| 26. |
The shape of average cost curve is ______________ |
| A. | A – Shaped |
| B. | C – Shaped |
| C. | U – Shaped |
| D. | L – Shaped |
| Answer» C. U – Shaped | |
| 27. |
In the long – run there is no _______________ cost |
| A. | Variable Cost |
| B. | Fixed Cost |
| C. | Actual Cost |
| D. | None of these |
| Answer» B. Fixed Cost | |
| 28. |
Which is the first derivative of the TC function. |
| A. | AC |
| B. | MC |
| C. | STC |
| D. | SAC |
| Answer» B. MC | |
| 29. |
TC=a+bQ is a ________________ Cost function |
| A. | Cubic |
| B. | Quadratic |
| C. | Linear |
| D. | None of these |
| Answer» C. Linear | |
| 30. |
When AC increases MC will___________________ |
| A. | increase |
| B. | decrease |
| C. | constant |
| D. | None of these |
| Answer» A. increase | |
| 31. |
Which of the following is not an example for durable goods |
| A. | Clothes |
| B. | Shoes |
| C. | Houses |
| D. | Food |
| Answer» D. Food | |
| 32. |
Autonomans demand is also known as __________________ demand |
| A. | Actual |
| B. | Market |
| C. | durable |
| D. | Direct |
| Answer» D. Direct | |
| 33. |
When tax rate increase the supply of products _______________ |
| A. | Decreases |
| B. | Increases |
| C. | Remains constant |
| D. | None of these |
| Answer» A. Decreases | |
| 34. |
The shape of a demand curve is _________________ |
| A. | Upward Sloping |
| B. | Parallel to X – axis |
| C. | Parallel to Y – axis |
| D. | Downward slopping |
| Answer» D. Downward slopping | |
| 35. |
The demand curve for inferior good is ____________________ |
| A. | Positively sloped |
| B. | Negatively slaped |
| C. | Vertical to axis |
| D. | Horizontal to axis |
| Answer» B. Negatively slaped | |
| 36. |
Where is the Head – qusrters of RBI located |
| A. | Delhi |
| B. | Mumbai |
| C. | Calcutta |
| D. | Pune |
| Answer» B. Mumbai | |
| 37. |
In which year was RBI nationalized? |
| A. | 1945 |
| B. | 1946 |
| C. | 1948 |
| D. | 1949 |
| Answer» D. 1949 | |
| 38. |
Unitary elasticity of demand is |
| A. | Zero |
| B. | Equal to one |
| C. | Greater than one |
| D. | Less than one |
| Answer» B. Equal to one | |
| 39. |
Which one is not an exception to the Law of Demand |
| A. | Normal good |
| B. | Ignorance |
| C. | Inferior good |
| D. | Articles of Distinction |
| Answer» A. Normal good | |
| 40. |
When the demand curve is a rectangular hyperbola, it represents |
| A. | Perfectly elastic demand |
| B. | Unitary elastic demand |
| C. | Perfectly inelastic demand |
| D. | Relatively elastic demand |
| Answer» B. Unitary elastic demand | |
| 41. |
The horizontal demand curve represents |
| A. | Perfectly elastic demand |
| B. | Unitary elastic demand |
| C. | Perfectly inelastic demand |
| D. | Relatively elastic |
| Answer» A. Perfectly elastic demand | |
| 42. |
Who is the present governor of RBI? |
| A. | Pranab Mukherji |
| B. | Kapil Sibal |
| C. | Man Mohan Singh |
| D. | Raghu Ram Rajan |
| Answer» D. Raghu Ram Rajan | |
| 43. |
What do you call the cost incurred in past? |
| A. | Book cost |
| B. | Historical cost |
| C. | Actual cost |
| D. | Fixed cost |
| Answer» B. Historical cost | |
| 44. |
Who is the lender of the last resort? |
| A. | Bank of India |
| B. | Indian Bank |
| C. | Reserve Bank |
| D. | State Bank |
| Answer» C. Reserve Bank | |
| 45. |
Which bank is called Banker’s Bank? |
| A. | RBI |
| B. | SBT |
| C. | SBI |
| D. | ICICI |
| Answer» A. RBI | |
| 46. |
Which is the system followed by RBI with regard to note issue? |
| A. | Fixed Minimum System |
| B. | Fixed System |
| C. | Fixed minimum Reserve System |
| D. | None of these |
| Answer» C. Fixed minimum Reserve System | |
| 47. |
Which bank introduced credit card for the first time in India |
| A. | Central Bank of India |
| B. | Corporate Bank |
| C. | Syndicate Bank |
| D. | None of these |
| Answer» A. Central Bank of India | |
| 48. |
What you call the cost incurred in producing an additional unit of output |
| A. | Average cost |
| B. | Marginal cost |
| C. | Social cost |
| D. | Sunk Cost |
| Answer» B. Marginal cost | |
| 49. |
Which is the biggest public sector Bank in India |
| A. | SBI |
| B. | SBT |
| C. | IDBI |
| D. | ICICI |
| Answer» A. SBI | |
| 50. |
What is the name of the bank account opened by non-resident Indians |
| A. | NRI a/c |
| B. | NRO a/c |
| C. | Savings a/c |
| D. | None of these |
| Answer» A. NRI a/c | |
| 51. |
Which is called Bank of India |
| A. | SBI |
| B. | SBT |
| C. | ADB |
| D. | RBI |
| Answer» D. RBI | |
| 52. |
The want satisfying power of a commodity is known as______________ |
| A. | Demand |
| B. | Utility |
| C. | Scarcity |
| D. | None of these |
| Answer» B. Utility | |
| 53. |
An organization which accepts deposit that can be withdrawn as demark is known as_______ |
| A. | A firm |
| B. | An institution |
| C. | A bank |
| D. | None of these |
| Answer» C. A bank | |
| 54. |
Who is an employee of a bank who deals directly with most customers |
| A. | Teller |
| B. | Mick |
| C. | ATM |
| D. | None of these |
| Answer» A. Teller | |
| 55. |
The rate at which the RBI lends short term money to the banks |
| A. | Bank Rate |
| B. | Repo rate |
| C. | Credit rate |
| D. | Reverse repo rate |
| Answer» B. Repo rate | |
| 56. |
The rate at which banks park their short term excess liquidity with the RBI is known as |
| A. | Repo rate |
| B. | Reverse repo rate |
| C. | Bank Rate |
| D. | None of these |
| Answer» B. Reverse repo rate | |
| 57. |
Bank rate is also known as ______________________ |
| A. | Discount rate |
| B. | Credit rate |
| C. | Repo rate |
| D. | None of these |
| Answer» A. Discount rate | |
| 58. |
An ATM card is a ________________card? |
| A. | Credit Card |
| B. | Debit Card |
| C. | Bank card |
| D. | None of these |
| Answer» B. Debit Card | |
| 59. |
Expand PIN |
| A. | Printing Identity Number |
| B. | Personal Identification Number |
| C. | Personal Identity Number |
| D. | None of these |
| Answer» B. Personal Identification Number | |
| 60. |
Which device sorts and counts coins at the same time |
| A. | Coin Counter |
| B. | Coin sorter |
| C. | Micro fiche |
| D. | None of thes |
| Answer» A. Coin Counter | |
| 61. |
Which device sorts random collection of coins into separate bins for different dinominations |
| A. | Coin sorter |
| B. | Coin Counter |
| C. | ATM |
| D. | PIN |
| Answer» A. Coin sorter | |
| 62. |
Break – even analysis is a technique of ____________________ |
| A. | Credit Planning |
| B. | Profit Planning |
| C. | Social Planning |
| D. | None of these |
| Answer» B. Profit Planning | |
| 63. |
In the long-run total cost is equal to ______________ |
| A. | TFC |
| B. | TVC |
| C. | MC |
| D. | AFC |
| Answer» B. TVC | |
| 64. |
Which costs are made once and for all and cannot be altered by varying the rate of output |
| A. | Sunk cost |
| B. | Book cost |
| C. | Long-run cost |
| D. | Explicit cost |
| Answer» A. Sunk cost | |
| 65. |
Break-even analysis is also known as ______________ |
| A. | Profit analysis |
| B. | Profit contribution analysis |
| C. | Planning Analysis |
| D. | None of these |
| Answer» B. Profit contribution analysis | |
| 66. |
All material things which posses utility are called ________________ |
| A. | Services |
| B. | Goods |
| C. | Cost |
| D. | None of these |
| Answer» B. Goods | |
| 67. |
Those goods which posses utility,scarcity and transferability are called __________ |
| A. | Tangible Goods |
| B. | Economic goods |
| C. | Consumer Gods |
| D. | None of these |
| Answer» B. Economic goods | |
| 68. |
Capital goods are also known as ______________________ |
| A. | Producer’s goods |
| B. | Consumer’s goods |
| C. | Duable Goods |
| D. | None of these |
| Answer» A. Producer’s goods | |
| 69. |
At the point where MC is equal to AC, average cost is ________________ |
| A. | Maximum |
| B. | Minimum |
| C. | Peak Level |
| D. | None of these |
| Answer» B. Minimum | |
| 70. |
When the marginal ccost is rising the total cost is ______________ |
| A. | Increasing |
| B. | Stagnant |
| C. | Decreasing |
| D. | None of these |
| Answer» A. Increasing | |
| 71. |
An example for variable cost is |
| A. | Rent of land |
| B. | Muncipal Taxes |
| C. | Insurance charge |
| D. | Wages to casual laboures |
| Answer» D. Wages to casual laboures | |
| 72. |
Increase in demand due to change in price is known as ________________ |
| A. | Construction in demand |
| B. | Expansion in demand |
| C. | Increase in demand |
| D. | Decrease in demand |
| Answer» B. Expansion in demand | |
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