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1. Multinational firm is–
(A) A company started by foreign governments
(B) A single company established in different countries
(C) A company in India started by U.S. government
(D) A company started jointly by India and U.S.
Ans. (B)

2. Wh ich among the fo llowing is not the investment of goods & services?
(A) Cost of machinery
(B) Increase in cost of raw goods
(C) Increasing department of company
(D) Cost of buying house.
Ans. (C)

3. Preparing butter and ghee for household consumption of own family is a part of –
(A) Household investment production
(B) Industrial production
(C) Consumption
(D) Own Account Production
Ans. (D)

4. The tree like structure of records in a database is-
(A) Network Model
(B) Hierarchical Model
(C) Relational Model
(D) Multi-Dimenmoral Model
Ans. (B)

5. According to Keyns, consumption function shows relation between-
(A) Total Consumption and Total Population
(B) Total Consumption and Normal Price Rate
(C) Total Consumption and Total Income
(D) Total Consumption and Rate of Interest
Ans. (C)

6. The interest in infrastructure is less because-
(A) There is large investment in it
(B) There needs a desired project
(C) Time to finish the infrastructure is more
(D) Profit is gained after long time
Ans. (D)

7. What will happen if labour productivity is increased?
(A) Balanced cash wage will decrease
(B) Competitive firms will be forced to invest more
(C) Labour demand curve will shift towards right
(D) None of the above.
Ans. (C)

8. Which among the following is not a positive sign for any industry?
(A) Decrease in profit
(B) Labour instability
(C) Decrease in market
(D) Decrease in demand
Ans. (A)

9. The Social Accounting system in India is classified into–
(A) Assets, Liabilities and Debt Position
(B) Public sector, Private Sector and Joint Sector
(C) Income, Product and Expenditure
(D) Enterprise, Households and Government
Ans. (C)

10. Due to worldwide great depression, ‘New Deal’ was declared by?
(A) Abhraham Lincon
(B) Benzamin Frankllin
(C) J.F. Kennedy
D) Roosvelt
Ans. (D)

11. The Relationship between rate of interest and consumption level was first estimated by–
(A) Amartya Sen
(B) Milton Freidman
(C) Irwing Fischer
(D) James Duezan Berry
Ans. (B)

12. The Views of eminent economist Robert Malthus on Population is –
(A) Pessimistic
(B) Optimistic
(C) Both
(A) and
(B) (D) None of the above
Ans. (A)

13. Who among the following promotes social justice?
(A) Herald Laski
(B) John Keynes
(C) John Rowles
(D) All of the above
Ans. (C)

14. Who defined ‘Rent’ as that portion or produce of the Earth, which is paid to the landlord for the use of original and indestructible power of the soil?
(A) Ricardo
(B) Marshall
(C) Keynes
(D) Pigou
Ans. (A)

15. The word ‘Oikonomia’ means–
(A) Household Management
(B) Individual Management
(C) Political Management
(D) Fiscal Management
Ans. (A)

16. The supply of labour in the economy depends on–
(A) Population
(B) National Income
(C) Per Capita Income
(D) Natural Resources
Ans. (A)

17. Wage Fund Theory was propounded by–
(A) JB Say
(B) JS Mill
(C) JR Hicks
(D) JM Keynes
Ans. (B)

18. The main feature of a capitalist economy is–
(A) Administered Prices
B) Public Ownership
(C) Economic Planning
(D) Private Ownership
Ans. (D)

19. “Interest is a reward for parting with liquidity” is according to–
(A) Keynes
(B) Marshall
(C) Haberler
(D) Ohlin
Ans. (A)

20. Who said, “Economics is the Science of Wealth”?
(A) Robbins
(B) JS Mill
(C) Adam Smith
(D) Keynes
Ans. (C)

21. Who among the following is not a classical economist?
(A) David Ricardo
(B) John Stuart Mill
(C) Thomas Malthus
(D) John Maynard Keynes
Ans. (D)

22. “The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money” who says this?
(A) Samuelson
(B) Kuznets
(C) Hicks
(D) Pigou
Ans. (C)

456 Economics Rakesh Yadav Readers Publication Pvt. Ltd.
23. Core industries are–
(A) Basic Industries
(B) Consumer Goods Industries
(C) Capital Goods Industries
(D) Government Industries
Ans. (A)

24. Which of the following does not determine supply of labour?
(A) Size and age-structure of population
(B) Nature of work
(C) Marginal productivity of labour
(D) Work-leisure ratio
Ans. (C)

25. An economy is in equilibrium when–
(A) Planned consumption exceeds planned saving
(B) Planning consumption exceeds planned investment
(C) Aggregate demand equals to aggregate supply
(D) Intended investment exceeds intended savings
Ans. (C)

26. The labour which creates value and gets rewarded for its services is called–
(A) Both Skilled and Unskilled Labour
(B) Average Labour
(C) Productive Labour
(D) Unproductive Labour
Ans. (C)

27. The basic infrastructure facilities in economics are known as–
(A) Human Capital
(B) Physical Capital
(C) Social Overheads Capital
(D) Working Capital
Ans. (C)

28. Globalisation means–
(A) Integration of economy
(B) Integration of financial market
(C) Integration of the domestic economy with the world economy
(D) Integration of the various sectors of economy
Ans. (C)

29. An increase in per capita income is not an indication of an increase in the economic welfare of the people–
(A) When such increase is the result of an increased production of comforts
(B) When such increase is the result of an increase in agricultural production
(C) When it is the result of an increase in the production of industrial goods
(D) When such increase is the result of increased production of intoxicants
Ans. (D)

30. The best example of a capital intensive industry in India is–
(A) Textile industry
(B) Steel industry
(C) Tourism industry
(D) Sports goods industry
Ans. (B)

31. India’s biggest nationalised enterprise today is–
(A) The Indian Railways
(B) The Indian Commercial Banking System
(C) The Indian Power Sector
(D) The Indian Telecommunication System
Ans. (A)

32. Which organisation collects data for the unorganised sector?
Ans. (A)

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