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Objective Questions

Latest JSSC PGT Teacher Economics Exam Question (Objective Questions), MCQ in English

Subjects : Economics

Question Bank Economics - English
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Economics

Question 1501Single Answer
In Keynesian framework, at full employment, which of the following is/are true ?
(a) Supply curve in the short period is inelastic
(b) The supply is influenced by the increase in the quantity of money
Select the answer from the code given below :
  1. A
    Both (a) and (b) are true
  2. B
    Neither (a) nor (b) are true
  3. C
    Only (a) is true
  4. D
    Only (b) is true
Question 1502Single Answer
Who among the following economists conidered the portfolio approach to demand for money ?
(a) J.M. Keynes
(b) M. Friedman
(c) james Tobin
Select the correct answer from the code given below :
  1. A
    All the above
  2. B
    Only (b) and (c)
  3. C
    Only (b)
  4. D
    Only (a)
Question 1503Single Answer
When LM curve is vertical, which one of the following is correct ? An increase in money supply will lead to :
  1. A
    Fall in interest rate
  2. B
    Fall in the level of income
  3. C
    Rise in the rate of interest
  4. D
    No change in the level of income
Question 1504Single Answer
Who among the following believe the velocity of money to be constant ?
  1. A
    Classicals
  2. B
    keynesians    
  3. C
    Monetarists  
  4. D
    Both A and C above    
Question 1505Single Answer
Which one of the following is not correctly matched ?
  1. A
    Long-run consumption function : Permanent Income Hypothesis
  2. B
    Demand for money : Fisher's equation balance to be held
  3. C
    Real balance effect : Tobin's portfolio theory
  4. D
    Labour theory of value : Ricardo's theory distribution
Question 1506Single Answer
Crowding out will emerge in the economy, if :
  1. A
    Government spending is in control
  2. B
    Deficit financial is in control 
  3. C
    Both A and B are revelent
  4. D
    Neither A nor B are relevant        
Question 1507Single Answer
Which one of the following is/are not true for a simple Y – AK model ?
(d) Constant exogeneous savings rate
(d) Non-operating of diminishing returns to scale
(d) Constant endogenous savings rate
Choose the answer from the code given below :
  1. A
    (a) and (b) are true                    
  2. B
    (b) and (c) are true
  3. C
    Only (c) is true     
  4. D
    Only (b) is true  
Question 1508Single Answer
Consider the following statements with regard to "Make in India" programme :
(a) It concent rates on 25 industries/ sectors
(a) 100 per cent FDI has been allowed in railwa infrastructure projects
Of the above, which is/are correct ? Answer from the codes given below :
  1. A
    Both (a) and (b) are corect
  2. B
    Neither (a) nor (b) correct
  3. C
    Only (a) is correct
  4. D
    Only (b) is correct
Question 1509Single Answer
Population replacement level of total fertility rate is :
  1. A
    2.1
  2. B
    1.0
  3. C
    2.5
  4. D
    4.0
Question 1510Single Answer
nsider the following regarding shadow banking :
(a) NBFC facilitating credit spread across the global financial system
(b) These institutions are subject to supervisory control of central banks
Of the above, which statement/s is/are true ? Select the answer from the codes given below :
  1. A
    Both (a) and (b) are true
  2. B
    Neither (a) nor (b) are true
  3. C
    Only (a) is true
  4. D
    Only (b) is true
Question 1511Single Answer
Consider the following statements :
(a) India is one of the first in Asia to recognise the effectiveness of the Export Processing Zone
(b) Asia's First Export Processing zone was set-up in Kandla, India in 1965
Which of the statement/s given above is/are correct ?
  1. A
    Only (a)
  2. B
    Only (a)
  3. C
    Both (a) and (a)
  4. D
    Neither (a) nor (a)
Question 1512Single Answer
Value of the marginal Product (VMP) is :
  1. A
    MPP × MR
  2. B
    MPP × AR
  3. C
    APP × MR
  4. D
    APP × AR
Question 1513Single Answer
Which of the following is not a part of Bharat Nirman ?
  1. A
    Rural Housing
  2. B
    Agro-based Industries
  3. C
    Rural Electrification
  4. D
    Rural Telephony
Question 1514Single Answer
The relevant age group for computation of child sex-ratio :
  1. A
    0-1 years
  2. B
    0-4 years   
  3. C
    0-6 years
  4. D
    0-7 years
Question 1515Single Answer
Which committee recommended abolition of tax rebates under Section of the Income Tax Act ?
  1. A
    Chellaiah Committee
  2. B
    Kelkar Committee
  3. C
    Shome Committee
  4. D
    None of the above
Question 1516Single Answer
As per the UN Report on the convention between Poverty and Environment, which one of the following is incorrect :
  1. A
    Natural calamities always hit the poor more severely
  2. B
    Poverty escalation leads to environmental degradation
  3. C
    Environmental degradation adversely affects livelihood
  4. D
    Environmental degradation reduces poverty
Question 1517Single Answer
Which of the following is not related to 'empowerment of women' ?
  1. A
    Gender Development Index
  2. B
    Gender Empowerment Measure
  3. C
    Gender Budgeting
  4. D
    Gender Discrimination
Question 1518Single Answer
The Phenomenon of 'demographic dividend' of a country is related to :
  1. A
    A sharp decline in the total population
  2. B
    A decline in the Infant Mortality Rate
  3. C
    An increase in the sex ratio
  4. D
    An increase in the population in the working age group
Question 1519Single Answer
The agricultural census is done at which one of the following intervals ?
  1. A
    Every Year
  2. B
    Once in three years
  3. C
    Once in five years   
  4. D
    Once in ten years  
Question 1520Single Answer
The 2015, Nobel Prize in Economics has been given to Angus Deaton for his work on :
  1. A
    Consumption, Poverty and Welfare
  2. B
    Population, Poverty and Development
  3. C
    Consumption, Saving and welfare
  4. D
    Consumption, Human  Development and Education
Question 1521Single Answer
A tax is said to be buoyant if tax revenue is proportionally :
  1. A
    More responsive to changes in output
  2. B
    Less responsive to change in output 
  3. C
    Equally responsive to change in tax base
  4. D
    Less responsive to change in tax base  
Question 1522Single Answer
port by Task Force on the implementation of Fiscal Responsibility and Budget Management Act, headed by Kelkar suggests some points :
(a) Primary deficit to be abolished by 2008 – 09
(b) Fiscal deficit should be brought down to 3% of GDP
Which of the above statements/s is/are correct ? Select from the codes given below :
  1. A
    Only (a)
  2. B
    Only (b)
  3. C
    Both (a) and (b)
  4. D
    Neither (a) nor (b)
Question 1523Single Answer
Who was the Chairman of the high powerred committee for measurement of poverty in 2013 ?
  1. A
    Suresh Tendulkar
  2. B
    C. Rangarajan
  3. C
    D.T. Lakadawala
  4. D
    Y.K. Alagh
Question 1524Single Answer
Segmented labour markets imply :
  1. A
    Labour discrimination
  2. B
    Labour paid wage less than MRP
  3. C
    MP theory of wage fails to determine market outcomes
  4. D
    Equality of wages of different types of labour
Question 1525Single Answer
In India those farmers are called 'Marginal Farmers' who hold land upto :
  1. A
    1 hectare
  2. B
    2 hectares  
  3. C
    3 hectares
  4. D
    4 hectares 
Question 1526Single Answer
Assertion (A) : Indian development programmers are oriented towards growth with social justice.
Reason (R) : Indian economy is afflicted with poverty and income inequalities.
Codes :
  1. A
    Both (A) and (R) are true and (R) is the correct explanation of (A)
  2. B
    Both (A) and (R) are true, but (R) is not the correct explanation of (A)
  3. C
    (A) is true, but (R) is false
  4. D
    (A) is false, but (R) is true
Question 1527Single Answer
If there is a balance of payments deficit then in a floating exchange rate system :
  1. A
    the external value of the currency would tend to fall
  2. B
    the external value of the currency would tend to rise
  3. C
    the injections from trade are greater than the withdrawals
  4. D
    agregate demand in increasing
Question 1528Single Answer
Devaluation, will improve the balance of payment deficit, if sum of elasticity of exports and imports of the devaluing country is :
  1. A
    greater tan unity
  2. B
    less than one
  3. C
    equal to zero
  4. D
    negative
Question 1529Single Answer
Examples of economic integration are :
(a) Free Trade Area
(b) Customs Union
(c) Common Market
(d) Cartel
Select the correct answer from the given codes.
  1. A
    (a) and (b)
  2. B
    (b)and (a)
  3. C
    Both (a) and (b)
  4. D
    Neither (a) nor (b)
Question 1530Single Answer
Consider the following statements :
(a) India's Trade Policy Reiew (TPR) is carried out every four years
(b) WTO has a mechanism for regular review of the trade policies of member countries
Which of the statement/s given above is/are correct ?
  1. A
    Only (a)
  2. B
    Only (b)
  3. C
    Both (a) and (b)
  4. D
    Neither (a) nor (b)
Question 1531Single Answer
Which among the following countries was the largest trading partner of India in 2013-14 ?
  1. A
    UAE
  2. B
    China
  3. C
    USA
  4. D
    Japan
Question 1532Single Answer
New Trade Policy 2015 – 20 has introduced a new scheme which is called :
  1. A
    Merchandise Export from India Scheme
  2. B
    Export from India Scheme
  3. C
    Merchandise Trade from India Scheme
  4. D
    Trade from India Scheme
Question 1533Single Answer
What does 'Price Scissors' refer to ?
  1. A
    Marshall's example of forces of supply and demand
  2. B
    Exports of two strategic raw materials from a country
  3. C
    A sharp fall in price of a major export item accompanied by a sharp rise in price of a majo import
  4. D
    Export basket of competitive local manufactures
Question 1534Single Answer
Hedging in the foreign exchange market refers to :
  1. A
    An act of devaluation
  2. B
    Not covering a risk of foreign exchange in future
  3. C
    Covering a risk of foreign exchange in future
  4. D
    None of the above
Question 1535Single Answer
For Real Effective Exchange Rate consider the following statements and select the correct answer from the codes given below :
(a) It refers to average of value of country's, currency in relation to an index of basket of values major countries' currencies
(b) It refers to nominal ratio of a country's currency value to average value of a basket of currency
Codes :
  1. A
    Only (a) is true
  2. B
    Only (b) is true
  3. C
    Both (a) and (a) are true
  4. D
    Neither (a) nor (b) are true
Question 1536Single Answer
Consider the following statements :
(a) In the context of the classical model, loan finance may be a means for transferring the burden to the future generation
(b) Foreign borrowing permits financing public programmes without placing burden on the present generation
(c) Foreign borrowing is not burden some to the future generations even if the funds are used unproductively
Which of the statement/s given above is/are correct ?
  1. A
    Only (a)
  2. B
    (a) and (b)
  3. C
    (b) and (c)
  4. D
    (a) and (c)
Question 1537Single Answer
Tax incidence refers to :
  1. A
    Whether a tax is progressive, proportional or regressive
  2. B
    How often a tax is collected
  3. C
    The person or group who ends up paying a tax
  4. D
    how a tax is collected
Question 1538Single Answer
Assertion (A) : A progressive income tax is based on equi-marginal sacrifice.
Reason (R) : Higher the income, lower will be the marginal utility of money for the tax Payers.
Codes :
  1. A
    Both (A) and (R) are true and (R) is the correct explanation of (A)
  2. B
    Both (A) and (R) are true, but (R) is not the correct explanation of (A)
  3. C
    (A) is true, but (R) is false 
  4. D
    (A) is false, but (R) is true
Question 1539Single Answer
Which one of the following taxes is within the juridiction of the State Governments as enumerated in List – II of the Indian Constituion ?
  1. A
    Taxes other than stamp duties on transactions in stock exchanges and future markets
  2. B
    Taxes on Railway freight and fares
  3. C
    Taxes on mineral rights subject to any limitation imposed by the parliament
  4. D
    Rate of stamp duty in respect of certain financial documents
Question 1540Single Answer

In the above diagram, if curve IC represents income-consumption curve, then it means that :
  1. A
    Only (A) is an inferior good
  2. B
    Only (B) is an inferior good
  3. C
    Both (A) and (B) are inferior goods
  4. D
    (A) is a normal good
Question 1541Single Answer

In the above diagram, the consumer surplus is represented by the area of :
  1. A
    ∆ PCE 
  2. B
    ∆ APE
  3. C
    ∆ ACE
  4. D
    Rectangle OPEQ
Question 1542Single Answer
Simon – Hawkins conditions relate to which of the following ?
(a) Static Leontief model
(b) Dynamic Leontief model
(c) These are necessary and sufficient conditions for the solution of the model
Choose the correct answer from the codes given below :
  1. A
    (a) and (b)
  2. B
    (b) and (c)
  3. C
    (a), (b) and (c)
  4. D
    (a) and (c)
Question 1543Single Answer
Given the production function Q = 2.K1/3 .L2/3, find the output level when 8 units of capital and 27 units of labour are used .
  1. A
    36
  2. B
    54
  3. C
    18
  4. D
    24
Question 1544Single Answer
For a regression model
Y = β0 + β1X1 + β2X2 + .... + β*Xk + u,
the degress of freedom of test statistics    , with ‘n’ observations is :
  1. A
    n – k
  2. B
    n – k + 1
  3. C
    n – k – 1
  4. D
    n + k + 1
Question 1545Single Answer
Match the following and answer from the codes given below :
   List – I                                       List - II
(a) Wald test                           (i) Stationarity
(b) Unit root test                     (ii) Errors in Variables Modal
(c) Student's t-test                 (iii) Causality
(d) Granger test                     (iv) Significance of Regression Coefficients
Codes :
  1. A
    (a) (b) (c) (d)
    (ii) (i) (iv) (iii)
  2. B
    (i) (ii) (iv) (iii)
  3. C
    (iii) (iv) (i) (ii)
  4. D
    (iv) (iii) (ii) (i)
Question 1546Single Answer
Which of the following model/s can be estimated using OLS, following suitable tranformations if necessary ? Not that 'e' denotes the exponential.
(a) Yt = α + βXt + ut
(b) Yt = α + βeXt + ut
(c) Yt = α + β ln (Xt) + ut
(d) Yt = α + βX²t + ut
  1. A
    (a) only
  2. B
    (b) and (c) only
  3. C
    (a),(c) and (d) only
  4. D
    (a),(b),(c) and (d)
Question 1547Single Answer
If OLS is applied separately to each equation that is part of a simultaneous interdependent system, the result estimates will be :
  1. A
    Unbiased and consistent
  2. B
    Biased and consistent
  3. C
    Biased and inconsistent
  4. D
    It is impossible to apply OLS to the equations that are part of simultaneous system
Question 1548Single Answer
Which one of the following is not a plausible remedy for multi collinearity ?
  1. A
    Use principal components analysis
  2. B
    Drop one of the collinear variables  
  3. C
    Use a longer-run of data
  4. D
    Take logarithm of each of the variables
Question 1549Single Answer
Consider the two regression models :
Model 1 : Yt = β1 + β2X2t + ut
Model 2 : Yt = α1 + α2X2t + α3Xet + ut
Which of the following statements are true ?
(a) Model 2 must have an R² at least as high as that of Model 1
(b) Model 2 must have an adjusted R² at least as high as that of Model 1
(c) Model 1 and 2 would have identical values of R² if estimated coefficient of α3 is zero
(d) Models 1 and 2 would have identical values of adjusted R² if the estimated coefficient of α3 is zero
Codes :
  1. A
    (b) and (d) only
  2. B
    (a) and (c) only
  3. C
    (a),(b) and (c) only
  4. D
    (a),(b),(c) and (d)
Question 1550Single Answer
Identify those teaching strategies which are learner-centred :
(a) Cooperative learning
(b) Team teaching
(c) Laboratory based projects
(d) Pair-share discussions
(e) Lecturing with PowerPoint presentations
Choose the correct answer from the options given below :
  1. A
    (a), (b) and (c) only
  2. B
    (b), (c) and (d) only
  3. C
    (a), (c) and (d) only
  4. D
    (c), (d) and (e) only
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