Mock-6 ECONOMY: MockTest for WBCS

1/25
When there is affect on economic activity of a specific country due to import and export, then such economy are called-
Closed economy
Open economy
Agricultural economy
Industrial economy
2/25
Multinational firm is–
A company started by foreign governments
A single company established in different countries
A company in India started by U.S. government
A company started jointly by India and U.S.
3/25
In an economy “Development Stage” means-
Starting of steadily increasing economy
Economy is on the verge of destroying
All tariff to be removed
None of the above
4/25
What will happen if labour productivity is increased?
Balanced cash wage will decrease
Competitive firms will be forced to invest more
Labour demand curve will shift towards right
None of the above
5/25
The term “Micro Economics” and “Macro Economics” was coined by–
Alfred Marshal
Ragner Nurkse
Ragner Frisch
J.M. Keynes
6/25
The Relationship between rate of interest and consumption level was firstly estimated by–
Amartya Sen
Milton Freedman
Irwing Fischer
James Duezan Berry
7/25
Amartya Sen was awarded the Noble Prize for his contribution to–
Monetary Economics
Welfare Economics
Econometrics
Development Economics
8/25
With which form of economy is the term ‘Laissez-Faire’ associated?
Capitalist Economy
Socialist Economy
Mixed Economy
Command Economy
9/25
The supply of labour in the economy depends on–
Population
National Income
Per Capita Income
Natural Resources
10/25
Price theory is also known as–
Macro Economics
Development Economics
Public Economics
Micro Economics
11/25
Who said, “Economics is the Science of Wealth”?
Robbins
JS Mill
Adam Smith
Keynes
12/25
Who is called the 'Father of Economics'?
JM Keynes
Malthus
Ricardo
Adam Smith
13/25
Which of the following is not an economic problem ?
Deciding between paid work and leisure
Deciding between expenditure on one good and the other
Deciding between alternative methods of personal saving
Deciding between different ways of spending leisure time
14/25
Disguised unemployment means–
Willing to work and not getting the work
Not getting work on all days throughout the year
Insufficiency of capital structure to absorb the large labour force
More people working, than required
15/25
Disinvestment in public sector is called–
Liberalisation
Globalisation
Industrialisation
Privatisation
16/25
A closed economy is one which–
Does not trade with other countries
Does not possess any means of international transport
Does not have a coastal line
Is not a member of the UNO
17/25
Which of the following is a part of tertiary sector ?
Power and Transportation
Animal Husbandry
Cotton Manufacturing
Cultivation of Crops
18/25
Forced saving refers to-
Compulsory deposits imposed on income tax payers
Provident fund contribution of private sector employees
Reduction of consumption consequent to a rise in price
Taxes on individual income and wealth
19/25
The Income of Indians working abroad is-
Domestic Income of India
Income earned from abroad
Net domestic product of India
Grave domestic product of India
20/25
The Central Statistical Organisation (CSO) provides data under a new revised series in which the base year is taken as–
1960-61
1970-71
2011-12
1990-91
21/25
One of the main factors that led to rapid expansion of Indian exports is–
Imposition of export duty
Liberalization of the economy
Recession in other countries
Diversification of exports
22/25
GDP at factor cost equals–
GDP – Indirect Tax + Subsidy
GNP – depreciation
NNP + depreciation
GDP – subsidy + indirect tax
23/25
Gross Profit means–
Total investment over total savings
Changes in methods of production
Changes in the form of business organisation
Total receipts over total expenditure
24/25
Which one of the following is not included while estimating National Income through income method?
Rent
Mixed Income
Pension
Undistributed Profits
25/25
The total value of goods and services produced in a country during a given period is–
Disposable Income
National Income
Per Capita Income
Net National Income
Result: