McqMate
These multiple-choice questions (MCQs) are designed to enhance your knowledge and understanding in the following areas: Bachelor of Business Administration (BBA) , Bachelor of Commerce (B Com) .
| 151. |
When average product is falling, it is |
| A. | Less than the marginal product |
| B. | Not measurable in this case |
| C. | Greater than the marginal product |
| D. | Equal to the marginal product |
| Answer» C. Greater than the marginal product | |
| 152. |
Dualism in development economics refers to |
| A. | Dual price policy |
| B. | Co-existence of technical and non-technical sectors |
| C. | Co-existence of modern and traditional sectors |
| D. | Co-existence of institutional and non- institutional agencies |
| Answer» C. Co-existence of modern and traditional sectors | |
| 153. |
The economist who said that international trade was based upon the concept of absolute advantage was: |
| A. | David Ricardo |
| B. | Adam Smith |
| C. | J.S.Mill |
| D. | Bertil Ohlin |
| Answer» B. Adam Smith | |
| 154. |
If external debt of country rises faster than its interest obligations, it is a case of: |
| A. | Dept trap |
| B. | Liquidity trap |
| C. | Poverty trap |
| D. | Export led growth |
| Answer» A. Dept trap | |
| 155. |
Who gave the first scientific treatment of general equilibrium analysis |
| A. | Leon Walras |
| B. | J.B Say |
| C. | Edward Chamberlain |
| D. | K.E Boulding |
| Answer» A. Leon Walras | |
| 156. |
Protectionism in the international trade stands for: |
| A. | Semi-restricted Trade |
| B. | Free trade policy |
| C. | Restricted Trade policy |
| D. | All of the above |
| Answer» C. Restricted Trade policy | |
| 157. |
Determination of price through interaction of demand and supply was introduced by: |
| A. | Keynes |
| B. | Marshall |
| C. | Pigou |
| D. | Walras |
| Answer» D. Walras | |
| 158. |
Joint profits are maximized in the model cartel, which is model of: |
| A. | Duopsony |
| B. | Duopoly |
| C. | Oligopoly |
| D. | Oligopony |
| Answer» C. Oligopoly | |
| 159. |
Which of the following is a better measure of economic development? |
| A. | National income |
| B. | Rural consumption |
| C. | Size of exports |
| D. | Employment |
| Answer» A. National income | |
| 160. |
Indian exports were increased during 2001-2002 and it went upto the level of: |
| A. | 39.8 billion dollars |
| B. | 28.2 billion dollars |
| C. | 44.0 billion dollars |
| D. | 45.6 billion dollars |
| Answer» C. 44.0 billion dollars | |
| 161. |
The imposition of an import tariff by a nation will increase the nation’s welfare: |
| A. | Never |
| B. | Often |
| C. | Sometimes |
| D. | Always |
| Answer» C. Sometimes | |
| 162. |
13th Finance Commission has been constituted under the chairmanship of: |
| A. | C. Rangarajan |
| B. | Vijay L Kelkar |
| C. | Deepak Parekh |
| D. | Indira Bhargara |
| Answer» B. Vijay L Kelkar | |
| 163. |
Monopsony is a form of market organization in which there is a: |
| A. | Single buyer of an input |
| B. | Single seller of an output |
| C. | Single buyer of an output |
| D. | Single seller of an input |
| Answer» A. Single buyer of an input | |
| 164. |
The rational entrepreneur will expand his output and select input combinations which lies on his: |
| A. | Isoquant line |
| B. | Ridge line |
| C. | Isoquant line |
| D. | Expansion path |
| Answer» D. Expansion path | |
| 165. |
Factor intensity as it is used in economics, is primarily s: |
| A. | Relative concept |
| B. | Absolute concept |
| C. | Abstract concept |
| D. | Empirical concept |
| Answer» A. Relative concept | |
| 166. |
The proportionality between the velocity of price movement and the inflationary gap is: |
| A. | Indirect and irregular |
| B. | Direct and linear |
| C. | Irregular and direct |
| D. | Indirect and non-linear |
| Answer» B. Direct and linear | |
| 167. |
The interrelation between innovations and investment opportunity was first pointed out by: |
| A. | Schumpeter |
| B. | Samuelson |
| C. | T. R. Hicks |
| D. | Torgenson |
| Answer» D. Torgenson | |
| 168. |
Direct control refers to: |
| A. | Trade and exchange controls |
| B. | Interference with the operation of the market forces |
| C. | Price and wage controls |
| D. | All of these |
| Answer» D. All of these | |
| 169. |
A situation where the firm is not in a position to recover its variable costs at the prevailing prices is known as: |
| A. | Point of inflation |
| B. | Equilibrium point |
| C. | Optimum point |
| D. | None of these |
| Answer» D. None of these | |
| 170. |
Which of the following is a problem connected with general equilibrium analysis? |
| A. | Uniqueness problem |
| B. | Existence problem |
| C. | stability problem |
| D. | all of the above |
| Answer» D. all of the above | |
| 171. |
Who has suggested the utilization of “disguised unemployment” as a source of savings potential in underdeveloped countries? |
| A. | W.A Lewis |
| B. | Ragnar Nurkse |
| C. | Gunnar Myrdal |
| D. | K.K Kurihara |
| Answer» B. Ragnar Nurkse | |
| 172. |
The income consumption curve generally? |
| A. | Slopes upwards to the right |
| B. | Slopes downwards to the right |
| C. | Slopes upwards to the left |
| D. | Slopes downwards to the left |
| Answer» C. Slopes upwards to the left | |
| 173. |
The fundamental cause for the collapse of the Bretton woods system was: |
| A. | The liquidity problem |
| B. | The adjustment problem |
| C. | The confidence problem |
| D. | None of the above |
| Answer» C. The confidence problem | |
| 174. |
The traffic which maximizes a country’s economic welfare is called |
| A. | Discriminatory traffic |
| B. | Protective traffic |
| C. | Optimum traffic |
| D. | Non-Discriminatory traffic |
| Answer» D. Non-Discriminatory traffic | |
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