UP TGT 2016 — Social Science: Economics (Series A)

Economics

1. 1. The quantity of a good that a consumer purchases in a market at a particular price, at a particular time is known as

   • (a) Supply
   • (b) Demand
   • (c) Utility
   • (d) Desire
   उत्तर देखें

   उत्तर: (b)

2. 2. The open market operations aim at

   • (a) Regulation of the use of credit
   • (b) Determination of cash reserves of banks
   • (c) Switch operations
   • (d) Sale and purchase of Govt. securities
   उत्तर देखें

   उत्तर: (d)

3. 3. Ricardo explained the law of comparative advantage on the basis of

   • (a) Opportunity cost
   • (b) The law of diminishing returns
   • (c) Economies of scale
   • (d) The labour theory of value
   उत्तर देखें

   उत्तर: (d)

4. 4. The transfer of assets or service functions from public to private ownership is known as

   • (a) Liberalization
   • (b) Nationalization
   • (c) Globalization
   • (d) Privatisation
   उत्तर देखें

   उत्तर: (d)

5. 5. Most of the unemployment in India is

   • (a) Technical
   • (b) Cyclical
   • (c) Disguised
   • (d) Structural
   उत्तर देखें

   उत्तर: (c)

6. 6. Giffen goods refers to

   • (a) Prestige goods
   • (b) Necessary goods
   • (c) Speculative goods
   • (d) Inferior goods
   उत्तर देखें

   उत्तर: (d)

7. 7. On the basis of which of the following we have perfect competition and imperfect market ?

   • (a) Area
   • (b) Time
   • (c) Volume of business
   • (d) Competition
   उत्तर देखें

   उत्तर: (d)

8. 8. _______ function is the relationship between physical inputs and physical output of a firm.

   • (a) Production
   • (b) Consumption
   • (c) Investment
   • (d) Demand
   उत्तर देखें

   उत्तर: (a)

9. 9. The sum total of the transactions demand, precautionary demand and speculative demand for money is called

   • (a) Speculative motive
   • (b) Supply of money
   • (c) Loanable fund
   • (d) Liquidity preference for money
   उत्तर देखें

   उत्तर: (d)

10. 10. Classical economists advocated which of the following for public finance ?

    • (a) Principle of economy
    • (b) Principle of minimum collective sacrifice
    • (c) Principle of minimum taxation
    • (d) Principle of maximum social advantage
    उत्तर देखें

    उत्तर: (c)

11. 11. Who wrote “External aid is like a sulpha drug. We must know when to use it, when to stop it and we should always have a B-complex to neutralise its effects” ?

    • (a) Otto Eickstein
    • (b) V. K. R. V. Rao
    • (c) David Ricardo
    • (d) J. S. Mill
    उत्तर देखें

    उत्तर: (b)

12. 12. P = KR/M is the Cambridge equation given by

    • (a) A. C. Pigou
    • (b) J. M. Keynes
    • (c) Robertson
    • (d) Marshall
    उत्तर देखें

    उत्तर: (a)

13. 13. Notes issued by the Central Government are unlimited legal tender. It is also called

    • (a) Credit money
    • (b) Electronic money
    • (c) Fiat money
    • (d) Metallic money
    उत्तर देखें

    उत्तर: (c)

14. 14. The rate at which the currency of one country is converted into the currency of another country is known as

    • (a) Devaluation
    • (b) Rate of exchange
    • (c) Foreign exchange
    • (d) Foreign liquidity
    उत्तर देखें

    उत्तर: (b)

15. 15. Which Agency gives “Soft loans” to the member countries ?

    • (a) I.D.A.
    • (b) I.M.F.
    • (c) I.A.F.
    • (d) I.F.C.
    उत्तर देखें

    उत्तर: (a)

16. 16. Who has classified public expenditure under two heads ?

    • (a) Dr. Hugh Dalton
    • (b) Prof. Adam Smith
    • (c) Prof. Pigou
    • (d) Prof. J. S. Mill
    उत्तर देखें

    उत्तर: —

17. 17. 1/cash reserve ratio or 1/r is

    • (a) Statutory liquidity ratio
    • (b) Liquidity ratio
    • (c) Credit multiplier
    • (d) Investment multiplier
    उत्तर देखें

    उत्तर: (c)

18. 18. The most important outcome of the Uruguay Round Agreement was the establishment of

    • (a) GATT
    • (b) WTO
    • (c) OECD
    • (d) European Union
    उत्तर देखें

    उत्तर: (b)

19. 19. _______ is the sum of the gross domestic product and net factor incomes from abroad.

    • (a) N. N. P.
    • (b) G. N. P.
    • (c) G. D. P.
    • (d) N. D. P.
    उत्तर देखें

    उत्तर: (b)

20. 20. In the production process, point of equilibrium is where

    • (a) Marginal cost = Marginal product
    • (b) Marginal cost = Average cost
    • (c) Marginal cost = Marginal revenue
    • (d) Marginal cost = Average revenue
    उत्तर देखें

    उत्तर: (c)

21. 21. The types of measures of central tendency are except which of the following ?

    • (a) Mean
    • (b) Median
    • (c) Mode
    • (d) Correlation
    उत्तर देखें

    उत्तर: (d)

22. 22. If two goods are substitutes (like tea and coffee), the cross elasticity between them is

    • (a) Negative
    • (b) Positive
    • (c) Infinite
    • (d) Zero
    उत्तर देखें

    उत्तर: (b)

23. 23. Theory of demographic transition correlates population growth and

    • (a) Economic development
    • (b) Per-capita income
    • (c) Standard of living
    • (d) Food supply
    उत्तर देखें

    उत्तर: (a)

24. 24. A monopolist is able to maximize his profits when

    • (a) His output is maximum
    • (b) His average cost is minimum
    • (c) He charges a high price
    • (d) His marginal cost is equal to marginal revenue
    उत्तर देखें

    उत्तर: (d)

25. 25. K = 1/MPs The above formula speaks about the

    • (a) Multiplier
    • (b) Accelerator
    • (c) MPC
    • (d) Investment
    उत्तर देखें

    उत्तर: (a)

26. 26. Which are levied on exports and imports ?

    • (a) Excise duties
    • (b) Customs duties
    • (c) Wealth tax
    • (d) Corporation tax
    उत्तर देखें

    उत्तर: (b)

27. 27. Finance Commission is appointed by the President of India, under Article

    • (a) 180
    • (b) 35
    • (c) 280
    • (d) 275
    उत्तर देखें

    उत्तर: (c)

28. 28. The inverse relation between inflation and unemployment is called the

    • (a) Inflationary Gap
    • (b) Multiplier
    • (c) Phillips Curve
    • (d) Production Possibility Curve
    उत्तर देखें

    उत्तर: (c)

29. 29. That portion of total deposits which a Commercial Bank has to keep with the Central Bank in the form of cash reserves is known as

    • (a) Repo rate
    • (b) Statutory Liquidity Ratio
    • (c) Bank rate
    • (d) Cash Reserve Ratio
    उत्तर देखें

    उत्तर: (d)

30. 30. The ratio of internal purchasing power of two currencies is called the

    • (a) Comparative cost theory
    • (b) Payment equilibrium theory
    • (c) Absolute cost theory
    • (d) Purchasing power parity
    उत्तर देखें

    उत्तर: (d)

31. 31. Where is the headquarter of Asian Development Bank situated ?

    • (a) New Delhi
    • (b) Manila
    • (c) Kathmandu
    • (d) Sri Lanka
    उत्तर देखें

    उत्तर: (b)

32. 32. Which debt is a permanent burden on tax-payers ?

    • (a) Long-term debt
    • (b) External debt
    • (c) Forced debt
    • (d) Non-redeemable debt
    उत्तर देखें

    उत्तर: (d)

33. 33. The Regional Rural Banks were established for the first time in which year ?

    • (a) 1960
    • (b) 1971
    • (c) 1975
    • (d) 1980
    उत्तर देखें

    उत्तर: (c)

34. 34. The most controversial topic in the yet to conclude in the Doha Agenda is

    • (a) Trade in manufactured goods
    • (b) Trade in Intellectual Property Rights based goods
    • (c) Trade in agricultural goods
    • (d) Market-access to goods from developed countries
    उत्तर देखें

    उत्तर: (c)

35. 35. _______ programme was started in 2005 to provide electricity to all the villages.

    • (a) Rajiv Gandhi Grameen Vidhyutikaran
    • (b) Compact fluorescent lamps
    • (c) Ultra-mega power plants
    • (d) Partnership in excellence programme
    उत्तर देखें

    उत्तर: (a)

36. 36. According to the law of variable proportions, the best stage of production is

    • (a) 1ˢᵗ stage
    • (b) 2ⁿᵈ stage
    • (c) 3ʳᵈ stage
    • (d) None of the above
    उत्तर देखें

    उत्तर: (b)

37. 37. A change in demand caused by a change in purchasing power of a consumer is called

    • (a) Income effect
    • (b) Price effect
    • (c) Substitution effect
    • (d) Demonstration effect
    उत्तर देखें

    उत्तर: (b)

38. 38. A consumer is said to be in equilibrium when he derives maximum _______

    • (a) Profit
    • (b) Benefit
    • (c) Satisfaction
    • (d) None of the above
    उत्तर देखें

    उत्तर: (c)

39. 39. Which stage of population transition is being experienced by India ?

    • (a) First
    • (b) Third
    • (c) Second
    • (d) Fourth
    उत्तर देखें

    उत्तर: (b)

40. 40. “Rent is that portion of the earth which is paid to the landlord for the use of the original and indestructible powers of the soil” – is given by

    • (a) J. S. Mill
    • (b) Adam Smith
    • (c) David Ricardo
    • (d) J. M. Keynes
    उत्तर देखें

    उत्तर: (c)

41. 41. M₁ in the money stock of India refers to

    • (a) Post office saving deposits
    • (b) Time deposits with banks
    • (c) Total post office deposits
    • (d) Currency + demand deposits + other deposits with RBI
    उत्तर देखें

    उत्तर: (d)

42. 42. Burden of taxation must be distributed equally among all citizens in relation to ability to pay taxes refers to

    • (a) Canon of certainty
    • (b) Canon of equality
    • (c) Canon of economy
    • (d) Canon of diversity
    उत्तर देखें

    उत्तर: (b)

43. 43. The value of money is the reciprocal of the level of

    • (a) Income
    • (b) Quantity
    • (c) Prices
    • (d) Expenditure
    उत्तर देखें

    उत्तर: (c)

44. 44. “Banks are not merely purveyors of money but also, in an important sense, manufacturers of money”. This statement was given by

    • (a) R. S. Sayers
    • (b) Prof. Edwin Cannon
    • (c) Hawtrey
    • (d) Johnson
    उत्तर देखें

    उत्तर: (a)

45. 45. Policy of non-interference by government in foreign trade is referred as

    • (a) Liberalisation
    • (b) Free trade
    • (c) Globalization
    • (d) Protectionist trade
    उत्तर देखें

    उत्तर: (b)

46. 46. I.M.F. and I.B.R.D. came into existence simultaneously in 1944 as a result of

    • (a) GATT
    • (b) WTO
    • (c) Bretton Woods Conference
    • (d) Dunkel Agreement
    उत्तर देखें

    उत्तर: (c)

47. 47. When the economic burden of the tax is passed onto other person by the tax payer, it is known as

    • (a) Tax evasion
    • (b) Shifting of taxation
    • (c) Impact of tax
    • (d) None of the above
    उत्तर देखें

    उत्तर: (b)

48. 48. The above diagram speaks about the

    • (a) Cost-push theory of inflation
    • (b) Phillips curve
    • (c) Demand-pull theory of inflation
    • (d) Inflationary gap
    उत्तर देखें

    उत्तर: (c)

49. 49. Who propounded the theory of comparative costs ?

    • (a) Adam Smith
    • (b) David Ricardo
    • (c) J. S. Mill
    • (d) G. V. Haberler
    उत्तर देखें

    उत्तर: (b)

50. 50. _______ is the difference between total receipts and total expenditure.

    • (a) Budget deficit
    • (b) Fiscal deficit
    • (c) Revenue deficit
    • (d) Deficit budget
    उत्तर देखें

    उत्तर: (a)

51. 51. Under New Industrial Policy, obtaining of industrial licence is compulsory for all of the below sector except

    • (a) Clothes
    • (b) Electronic aerospace
    • (c) Cigarettes or tobacco
    • (d) Specified hazardous chemicals
    उत्तर देखें

    उत्तर: (a)

52. 52. “Numerical facts systematically collected” is the definition of statistics from the viewpoint of

    • (a) Singular sense
    • (b) Plural
    • (c) Economics
    • (d) Mathematical
    उत्तर देखें

    उत्तर: (b)

53. 53. The elasticity can be found out by using the following formula.

    • (a) Eₚ = (q₁ − q₂)/(q₂ + q₂) × (p₁ + p₂)/(p₁ − p₂)
    • (b) Eₚ = q/p × p/q
    • (c) Eₚ = Δq/Δp × p/q
    • (d) Eₚ = Δq/Δy × y/q
    उत्तर देखें

    उत्तर: (c)

54. 54. _______ explain the physical relationship between input and output in the long-run.

    • (a) Law of variable proportions
    • (b) Laws of returns
    • (c) Laws of returns to scale
    • (d) Isoquants
    उत्तर देखें

    उत्तर: (c)

55. 55. Product differentiation is one of the characteristics of

    • (a) Monopolistic competition
    • (b) Monopoly
    • (c) Duopoly
    • (d) Oligopoly
    उत्तर देखें

    उत्तर: (a)

56. 56. According to Prof. Knight, profit is due to

    • (a) Insurable risk
    • (b) Non-insurable risk
    • (c) Uncertainties
    • (d) Risk-taking
    उत्तर देखें

    उत्तर: —

57. 57. The taxes which are not shifted to others are known as

    • (a) Direct taxes
    • (b) Indirect taxes
    • (c) Sales taxes
    • (d) G. S. T.
    उत्तर देखें

    उत्तर: (a)

58. 58. Which of the following is not an instrument of fiscal policy ?

    • (a) Taxation
    • (b) Public expenditure
    • (c) Bank rate
    • (d) Public debt
    उत्तर देखें

    उत्तर: (c)

59. 59. Prices being pushed up by an increase in production costs is known as

    • (a) Demand-pull inflation
    • (b) Cost-push inflation
    • (c) Stagflation
    • (d) Partial inflation
    उत्तर देखें

    उत्तर: (b)

60. 60. “International trade is but a special case of interlocal or interregional trade” – the statement was given by

    • (a) David Ricardo
    • (b) Adam Smith
    • (c) Bertil Ohlin
    • (d) Heckscher
    उत्तर देखें

    उत्तर: (c)

61. 61. Identify the bilateral method in the following.

    • (a) Payments agreement
    • (b) Clearing agreement
    • (c) Transfer moratoria
    • (d) All the above
    उत्तर देखें

    उत्तर: (d)

62. 62. Who contributed Principle of Minimum Taxation ?

    • (a) J. B. Say
    • (b) J. M. Keynes
    • (c) H. Dalton
    • (d) Hicks
    उत्तर देखें

    उत्तर: (a)

63. 63. The Fourth Five Year Plan was launched in

    • (a) 1969
    • (b) 1966
    • (c) 1968
    • (d) 1962
    उत्तर देखें

    उत्तर: (a)