Monday, January 9, 2012

Economics Quiz - 13

1. Sarvodaya aimed at ?
[A] classless society
[B] economic revolution
[C] upliftment of weaker sections
[D] upliftment of all, irrespective of their status

2. ‘Utility’ in economics means the capacity to
[A] provide comforts
[B] earn an income
[C] satisfy human wants
[D] satisfy human motives

3. Debt service ratio implies ratio between
[A] import and debt
[B] export and principal plus and payment on debt
[C] domestic saving and import
[D] domestic saving and export

4. Saving is a function of
[B] income
[C] export
[D] improvement in productivity

5. A deflator is a technique of ?
[A] adjusting for changes in price level
[B] adjusting for change in commodity
[C] accounting for higher increase of GNP
[D] accounting for decline of GNP

6. Credit is a
[A]Stock concept
[B] Flow concept
[C] Stock flow concept
[D] None of these

7. The concept of Joint Sector implies association between
[A] Small and large industries
[B] State and Central Govt enterprises
[C] Indian and multinational companies
[D] Public sector and private sector industries

8. Which of the following is the correct description of the term ‘tainted shares’?
[A] The shares purchased by NRIs
[B] The shares which were involved in the case of securities scam
[C] The shares whose price falls by mote than 20 points in a day
[D] The shares the price of which falls continuously for seven days

9. A loan bearing low rate of interest is known as
[A]Hard loan
[B] Soft loan
[C] Capital loan
[D] Real loan

10. White goods are
[A] basic raw materials
[B] cosmetic articles
[C] goods imported from the western countries
[D] durable consumption goods

11. Sellers market denotes a situation where
[A] commodities are available at competitive rates
[B]demand exceeds supply
[C]supply exceeds demand
[D] supply and demand are evenly balanced

12. ‘Mixed Economy’ means
[A] co-existence of small scale and large scale industries
[B] co-existence of the rich and the poor
[C] co-existence of private and public sector
[D] assigning equal importance to both agriculture and heavy industries

13. Which of the following best defines the term ‘Letter of Credit’ as used frequently in bank transactions?
[A] An order from a bank to another bank abroad authorizes the payment of a particular amount to a person named in the letter
[B] An unconditional undertaking given by a bank ensuring the payment of a particular amount to the drawee at a given date
[C] Letter by a bank to a person stating the terms and conditions of the loan sanctioned to him by the bank
[D] Statement showing outstanding deposits and credits of a hank for a particular period

14. Unemployment which occurs when workers move from one job to another job is known as
[A] Seasonal unemployment
[B] Frictional unemployment
[C] Cyclical unemployment
[D] Technological unemployment

15. GNP (Gross National Product) is the money value of
[A] final goods and services produced annually in the economy
[B] annual service generation in the economy
[C] tangible goods available in the economy
[D] tangible goods produced annually in the economy