Which of the following is not an another term used for International Trade?

1. ‘inter-home trade’

2. ‘external trade’

3. ‘foreign trade’

4. ‘inter-regional trade’.

(i) Statistics does not facilitate comparison.
(ii) Statistics helps in prediction.

1. Both (i) and (ii) are true

2. Both (i) and (ii) are false.

3. (i) is true but (ii) is false

4. (i) is false but (ii) is true

The process of decision making aboutalternative ways of using available scarce resources is_______

1. consumption

2. saving

3. expenditure

4. economic planning

Match the correct codes

1	The Ricks Banks of Sweden	i	1656
2	Bank of England	ii	1864
3	Finance Conference held at Brussels	iii	1920
4	The Central Bank of China	iv	1928

1. (1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)

2. (1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)

3. (1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)

4. (1) – (i) (2) – (ii) (3) – (iii) (4) – (iv)

Suppose the Central bank wanted to engage in an expansionary monetary policy. Which of the following should it do?

1. Sell bonds on the open market.

2. Increase the reserve requirement ratio

3. Increase the discount rate.

4. Buy bonds on the open market

After a period of depression ______ sets in.

1. recovery

2. prosperity

3. boom

4. trough

_____________ is defined as the value of the variable, which occurs most frequently in a distribution.

1. Mean

2. Median

3. Mode

4. Arithmetic progression

Which of the following is a better measure of economic development?

1. National income

2. Rural consumption

3. Size of exports

4. Employment

Market forces are _________.

1. Supply and price

2. Demand and price

3. Prices of commodity

4. Supply and demand

IMF stands for

1. Indian Managing Fund

2. Indian's Marketing Fund

3. International Monetary Fund

4. International Marketing Fund

____________ implies the existence of an efficient and organized banking system in the country.

1. Political system

2. Budgetary System

3. Economics System

4. Financial system

Find the author of following statement. “Development must, therefore, be conceived as a multidimensional process involving major changes_________-”

1. Arthur C. Pigou

2. Michael P. Todaro

3. John M. Keynes

4. Smith

Which among the following is a qualitative tool of monetary policy?

1. Bank Rate

2. Credit Ceiling

3. Credit rationing

4. Cash Reserve Ratio

_____ and _____ are the frequently used tools with which the RBI can control the availability and the supply of money in the economy.

1. The Repo Rate and the Reverse Repo Rate

2. CRR, SLR

3. Moral Suasion, Credit Ceiling

4. The Reverse Repo Rate, The Repo Rate

Assertion (A): The modern state is a welfare state and not just police state.
Reason (R): The state assumes greater roles by creating economic and social overheads, ensuring stability both internally and externally, conserving resources for sustainable development and so on.

1. Both A and R are true and R is the correct explanation of A

2. Both A and R are true but R is not the correct explanation of A.

3. A is true but R is false

4. A is false but R is true

Given the diagram, find the nature of correlation.

1. A, B, C, are positive

2. A, B, C, are negative

3. A is positive, B is Negative and C is Positive

4. A is positive, B is Negative and C is Zero

Inflation is taxation without legislation' was said by______

1. Rudi Dorbush

2. Adam smith

3. Milton Friedman

4. Alfred Marshall

Direct taxes are ____________

1. Progressive

2. Regressive

3. Proportion

4. Digressive

In August 2015, _____ received a license from RBI to launch a payments bank.

1. Uber

2. Paytm

3. RuPay

4. IndPay

The lowest and highest values that can be included in a class is known as

1. class limit

2. class interval

3. class frequency

4. class

India has a comparative cost advantage in

1. textiles

2. steel

3. both of them

4. none of them

What was the name of the conference that laid the foundations for the creation of the WTO, the IMF and the World Bank Group?

1. The Doha Conference

2. The Bretton woods Conference

3. The Tokyo Protocol

4. The Shangai Summit

The new symbol of Rupee is an amalgamation of Devanagri ‘Ra’ and the ______ without the stem.

1. Arial ‘R’

2. Roman ‘R’

3. Italian ‘R’

4. Greek Script ‘R’

The correlation would be __________ if the amount of change in one variable does not bear a constant ratio to the amount of change in the other variables.

1. linear

2. scatter

3. non-linear

4. downward always

J.B. Say is a __________ economist.

1. French

2. British

3. Dutch

4. Indian

Fisher's Quantity theory of Money was first propounded in 1588 by an Italian economist.

1. Davanzatti

2. Malthus

3. Ricardo

4. Harry Dexter White

Online Banking is also known as.

1. E-Banking

2. Internet Banking

3. RTGS

4. NEFT

Head quarters of ASEAN is located in

1. Nepal

2. Maldives

3. Indonesia

4. Afghanistan

Long-term plan is also known as_______

1. Progressive Plans

2. Non-progressive Plans

3. Perspective Plans

4. Non-perspective Plans

Expand the term SADF.

1. South Asian Divisional Fund

2. South Asian Development Force

3. South Asian Development Fund

4. South East Asian Development Force

……………….consists of 61 subjects of local interest such as Public Health, Police etc?

1. Central List

2. Union List

3. Concurrent List

4. The State List

During stagflation
I. an increase in aggregate spending will eliminate the recession.
II. a decrease in aggregate spending will reduce inflation.
III. government faces contradictory goals.
IV. The central bank decreases money supply to reduce inflation

1. I and II only

2. III and IV only

3. I, II and III only

4. I, II, III and IV

Match the correct codes

1	It implies that commercial banks are mainly dependent on public deposits	i	Agency Functions
2	It refers to deposits that can be withdrawn by individuals without any prior notice to the bank.	ii	Accepting Deposits
3	It refers to deposits that are made for certain committed period of time	iii	Demand Deposits
4	It implies that commercial banks act as agents of customers	iv	Time Deposits

1. (1) – (i) (2) – (ii) (3) – (iv) (4) – (iii)

2. (1) – (ii) (2) – (iii) (3) – (iv) (4) – (i)

3. (1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)

4. (1) – (iv) (2) – (iii) (3) – (i) (4) – (ii)

Who explained the idea in these words: “It implies a circular constellation of forces tending to act and react upon one another in such a way as to keep a poor country in a state of poverty”

1. Dalton

2. Pigou

3. Schumpeter

4. Nurkse

Assertion (A): The progressive tax system increases the propensity to consume of the people by altering the income distribution in favour of poor.
Reason (R): When government reduces the tax the disposable income rises and the propensity to consume of community increases.

1. Both A and R are true and R is the correct explanation of A.

2. Both A and R are true but R is not the correct explanation of A.

3. A is true but R is false.

4. A is false but R is true.

In which country the first hyper inflation of the 21st century took place?

1. Zimbabwe

2. Namibia

3. Venezuela

4. India

__________ is homogeneous

1. Goods

2. Product

3. Labour

4. Money

Find the measure of Primary Deficit (PD)?

1. Fiscal Surplus (PS) - Interest Payment (IP)

2. Fiscal Surplus (PS) – Net Interest Payment (NIP)

3. Fiscal Deficit (PS) – Net Interest Payment (IP)

4. Fiscal deficit (PD) - Interest Payment (IP)

"Statistics may be defined as a science of collection, presentation, analysis and interpretation of numerical data" is a quote by

1. C.roxton and Cowden

2. Marshall

3. J.M. Keynes

4. Schumpeter

________ refers to the exchange of goods and services with the political and geographical boundaries of a nation.

1. Internal Trade

2. External Trade

3. Foreign Trade

4. Global trade

In capitalism, the allocation of resources and distribution of rewards are done through the ____ system.

1. supply

2. demand

3. price

4. curve

When the outcome of any activity is taken as the base of any budget, such budget is known as ……………………..

1. Unbalanced Budget

2. Performance Budget

3. Revenue Budget

4. Deficit Budget

The growth and development of an economy and the factors determining them could be understood only through________

1. macro analysis

2. micro analysis

3. positive analysis

4. rational analysis

Mohan used to work as an autoworker, and due to the decline of the Indain auto industry, is now unemployed and thinking about retraining as a bicycle assembler. What type of unemployment is he experiencing?

1. frictional unemployment

2. structural unemployment

3. cyclical unemployment

4. natural unemployment

Which among the following is a characteristic of underdevelopment?

1. Vicious circle of poverty

2. Rising mass consumption

3. Growth of Industries

4. High rate of urbanization

The Vice- Chairman of the NITI Aayog is the functional head and the first Vice- Chairman was ______________?

1. Surchit Bella

2. Jagadish Bagawati

3. Kowsik Bashu

4. Arvind Panangariya

If MPC = 4/5, then value of the multiplier is:

1. 20

2. 5

3. 0.80

4. 1.25

The multiplier tells us how much __________ changes after a shift in _____

1. Consumption , income

2. investment, output

3. savings, investment

4. output, aggregate demand

ASEAN meetings are held once in every _______ years

1. 2

2. 3

3. 4

4. 5

India‘s first women‘s bank The BharatiyaMahila Bank was inaugurated in which city?

1. Mumabi

2. Delhi

3. Kolkata

4. Chennai

Find the incorrect match

1. Sir M. Vishveshwarya (1934): “Planned Economy of India”.

2. Jawaharlal Nehru (1938): “National Planning Commission

3. Bombay Plan (1940): ‘People’s Plan”

4. None of the above

Assertion (A): The deficiency of capital, in turn, leads to low levels of productivity and back to low income.
Reason (R): The low level of saving leads to low investment and to deficiency of capital.

1. Both A and R are true and R is the correct explanation of A

2. Both A and R are true but R is not the correct explanation of A.

3. A is true but R is false.

4. A is false but R is true

In the circular-flow diagram

1. Spending on goods and services flow from firms to households

2. Goods and services flow from households to firms

3. Factors of production flow from firms to households

4. Income from factors of production flows from firms to households

If the Keynesian consumption function is C = 10 + 0.9 Y then, if disposable income is Rs 1000, what is amount of total consumption?

1. 0.9

2. 800

3. 0.91

4. 910

In classical system which of the following keeps the economy at full employment

1. Level of saving

2. Increase in money supply

3. Adjustment in investment

4. Adjustment in money wages

Finance is the life blood of all economic activities such as________

1. trade

2. commerce

3. agriculture

4. all the above

An increase in the marginal propensity to consume will:

1. Lead to consumption function becoming steeper

2. Shift the consumption function upwards

3. Shift the consumption function downwards

4. Shift savings function upwards

Which of the following canons of taxation was not listed by Adam smith?

1. Canon of equality

2. Canon of certainty

3. Canon of convenience

4. Canon of simplicity

The modern state is

1. Laissez-faire state

2. Aristocratic state

3. Welfare state

4. Police state

Match the items in the List – I with items in List – II. Select the correct answer from the code given below :

List – I	List – II
Absolute Advantage	Ray Vernon
Factor - proportions	Adam Smith
Comparative Advantage	Heckscher –Ohlin
International Product life cycle	David Ricardo

1. I	II	III	IV
   3	2	1	4

2. I	II	III	IV
   2	4	1	3

3. I	II	III	IV
   2	3	4	1

4. I	II	III	IV
   1	2	3	4

During __________ the level of economic activity becomes extremely low.

1. Boom

2. Recession

3. Depression

4. Recovery

A Bank is a

1. Financial institution

2. Corporate

3. An Industry

4. Service institutions

Tourism and travel are classified in which of balance of payments accounts?

1. merchandise trade account

2. services account

3. unilateral transfers account

4. capital account

Identify The Father of Socialism

1. J M Keynes

2. Karl Marx

3. Adam Smith

4. Samuelson

NITI Aayog is a _______________ think-tank of the Government of India

1. political

2. media

3. bureaucratic

4. policy

Which is not the characteristics of UDCs?

1. Low per capita

2. Wide in equality

3. High rate of unemployment

4. Price mechanism

Find which is not a an example of Fixed income Groups?

1. wages

2. salary

3. pension

4. organization

The growth of an economy is indicated by an _________.

1. Increase in general prices

2. Increase in national income

3. Increase in savings

4. Increase in investment

Assertion (A): The ASEAN nations are expected to benefit from the FTA as it will reduce tariff and non-tariff barriers.
Reason (R): The common historical and cultural background made the member countries to maintain their unity and solidarity by establishing a trade block.

1. Both A and R are true and R is the correct explanation of A

2. Both A and R are true but R is not the correct explanation of A.

3. A is true but R is false

4. A is false but R is true.

The idea of _____________ was strengthened during the Great Depression in 1930s.

1. political planning

2. industrial planning

3. economic planning

4. democratic planning