Q.1 Statements:

1) Private & public sectors are classified on the basis of nature of economic conditions.

2) The dual economy is a mixture of Industrial sector & Manufacturing sector.

Codes:

A) Only 1

B) Only 2

C) Both are correct

D) Both are incorrect

Ans. D

*The dual economy is a mixture of Agricultural sector & Modern Industrial Sector.

* Private & public sectors are classified on the basis of ownership of enterprises.

Q.2 statements:

1) Net National product at factor cost is equivalent to National Income

2) National income is based upon Production of goods & services

Codes:

A) Only 1

B) Only 2

C) Both are correct

D) Both are incorrect

Ans. C

Q.3 Which among the following are the components of HDI ?

1) Decent standard of living

2) Infant Mortality

3) Longevity

4) Educational attainment

Codes:

A) 1,3,4

B) 2,3,4

C) 1,2,3

D) 1,2,3,4

Ans. A

Q.4 Which among the following are correct ?

1) Balanced budget multiplier is unity when taxes are lump-sum taxes

2) Balanced budget multiplier is less than unity when taxes are ad valorem taxes

3) Tax multiplier is less than the government expenditure multiplier

4) Tax multiplier is more than the government multiplier

Codes:

A) 1,2,3

B) 2,3,4

C) 1,3,4

D) 1,2,3,4

Ans. A

Q.5 Which among the following is true with respect to the monetary approach to the balance of payments ?

A) BOP disequilibrium are not automatically corrected in the long run

B) BOP deficit results from an excess demand of money in the nation

C) It views the balance of payments as an essentially monetary phenomenon

D) BOP surplus results from an excess supply of money

Ans. C

Q.6 Which among the following is an artificial currency ?

A) ADR

B) GDR

C) SDR

D) ADR & SDR

Ans. C

Q.7 In context with the wholesale price index, consider the following statements:

1) It captures the price movement extensively & taken as an indicator of the inflation

2) The office of the economic adviser is entrusted with the function of compilation & publication of the weekly wholesale price index numbers in India

Codes:

A) Only 1

B) Only 2

C) Both are correct

D) Both are incorrect

Ans. C