Question Bank
TN TRB PG Assistant (Economics) Exam - English
Duration: 180 Β· Questions: 150 Β· Max Marks: 150 Β· Language: 3
Economics
1
Which is called Gossen’s second Law ?
2
Which of the condition support long run equilibrium in monopolistic competition ?
3
Who explained importance of time element in price determination, for the first time ?
4
Law of diminishing returns begins to operate when :
5
Consider the following statements regarding Edgeworth Duopoly model :
I. It takes as given output decision of rival.
II. It takes as given price decision of rival
III. It is an explanation of price rigidity of thease , the correct answer is :
I. It takes as given output decision of rival.
II. It takes as given price decision of rival
III. It is an explanation of price rigidity of thease , the correct answer is :
6
Public goods are charactertised by :
1. Collective consumption
2. Divisibility
3. Non – exclusion
4. Rival consumption
Select the correct answer from the code given below :
1. Collective consumption
2. Divisibility
3. Non – exclusion
4. Rival consumption
Select the correct answer from the code given below :
7
Among the following what causes market failure ?
1. Externality
2. Asymmetry of information
3. Perfact competition
Choose the correct answer from the code given below :
1. Externality
2. Asymmetry of information
3. Perfact competition
Choose the correct answer from the code given below :
8
Who distinguished between value in use and value in exchange and gave the famous example of diamonds and water ?
9
When income effect becomes stronger than substitution effect, the labour supply curve will :
10
Assertion (A) : The concept of supply curve is meaningless for the monopolist.
Reason (R) : Monopolists are price setters ; it does not make reuse to ask what output they will produce at various prices.
Reason (R) : Monopolists are price setters ; it does not make reuse to ask what output they will produce at various prices.
11
Predatory pricing policy is designed to :
12
Match items in List-I with items in List-II and select the correct answer from the code given below :
List-I List-II
a. The screening Hypothesis 1. George A. Akerlof
b. Job Market signaling 2. K. J Arrow
c. The problem of moral 3. M. Spencer
hazard in the case
of medical insura
d. The market for lemons 4. Paul W. Miller and Paul A.
Vplcker
List-I List-II
a. The screening Hypothesis 1. George A. Akerlof
b. Job Market signaling 2. K. J Arrow
c. The problem of moral 3. M. Spencer
hazard in the case
of medical insura
d. The market for lemons 4. Paul W. Miller and Paul A.
Vplcker
13
The cost incurred by the firm in hiring labour is called as :
14
The locus of Pareto optimality in production and consumption is given by :
15
Match items given in List-1 with those in List-II :
List-I List_II
a. Tea and coffee 1. Veblen goods
b. Car and petrol 2. Substitutes
c. Gold and 3. Giffen goods
Diamonds
d. Ragi and Bajra 4. Complementary
List-I List_II
a. Tea and coffee 1. Veblen goods
b. Car and petrol 2. Substitutes
c. Gold and 3. Giffen goods
Diamonds
d. Ragi and Bajra 4. Complementary
16
Assertion (A) : In the short run under perfect competition, given the market demand and market supply the industry is in equilibrium at that price which clears the market.
Reason (R) : In the long run all the firms in the industry earn profit .
Reason (R) : In the long run all the firms in the industry earn profit .
17
Put the following in chronological order on the basis of development :
I. Law of demand
II.Revealed Preference Analysis
III. IIndifference Curve Analysis
IV. Law of Diminishing Marginal Utility
I. Law of demand
II.Revealed Preference Analysis
III. IIndifference Curve Analysis
IV. Law of Diminishing Marginal Utility
18
If the monopolist incurs loss in the short run , then in the long run :
a. he will go out of business.
b. he will stay in business
c. he will break even
d. any of the above is possible
a. he will go out of business.
b. he will stay in business
c. he will break even
d. any of the above is possible
19
The condition of Pareto Optimality holds correct under.
20
Assertion (A) : Compared to the individual supply curve is more elastic .
Reason (R) : There is the possibility of moving between being out of the labour force and being in the labour force.
Choose amongst the following the correct answer .
Reason (R) : There is the possibility of moving between being out of the labour force and being in the labour force.
Choose amongst the following the correct answer .
21
With reference to demand for money, match List-I with List-II :
List-I List-II
a. Demand for money 1. J.M. Keynes
is stable
b. Liquidity preference 2. W. Baumol
as behaviour towards
risk
c. Inventory Theoretic 3. James Tobin
Approach
d. No portfolio 4. Milton Friedman
diversification
List-I List-II
a. Demand for money 1. J.M. Keynes
is stable
b. Liquidity preference 2. W. Baumol
as behaviour towards
risk
c. Inventory Theoretic 3. James Tobin
Approach
d. No portfolio 4. Milton Friedman
diversification
22
The negative relationship between the gap between actual GDP and its trend value and the difference between actual unemployment rate and its equilibrium value is called :
23
It is often true that as the economy begins to recover from a recession , the unemployment rate rises because :
24
When additional government expenditure is financed by selling government securities, then what will be the nature of crowding out effect , given in List-I in the context of the situation given in List-II ?
List-I List-II
Crowding out effect Situations
a. Full 1. Keynesian Range
b. Partial 2. Classical Range
c. Nil 3. Intermediate Range
List-I List-II
Crowding out effect Situations
a. Full 1. Keynesian Range
b. Partial 2. Classical Range
c. Nil 3. Intermediate Range
25
Match items given in List-I with those in List-II :
List-I List-II
a. Equation of 1. J.M. Keynes
exchange
b. Cash Balance 2. Irving Fisher
Approach
c. Regressive 3. W.J. Baumol
Expectation
Model of
Demand money
d. Square Root 4. A.c. Pigou and
Formula of Alfred Marshall
Demand for
Money
List-I List-II
a. Equation of 1. J.M. Keynes
exchange
b. Cash Balance 2. Irving Fisher
Approach
c. Regressive 3. W.J. Baumol
Expectation
Model of
Demand money
d. Square Root 4. A.c. Pigou and
Formula of Alfred Marshall
Demand for
Money
26
Fiscal deficit less interest payments is called
27
How many countries are the members of European Union ?
28
If the mean and variance of a given distribution is 8 and 0.25, then the coefficient of variation will be
29
The doctrine of unbalanced growth was propounded by
I. Hirschman
II. Robert Solow
III. Singer
IV. Ragnar Nurkse
Codes :
I. Hirschman
II. Robert Solow
III. Singer
IV. Ragnar Nurkse
Codes :
30
Match List-I with List-II and show the relation between trade cycle and profit by selecting correct codes given below
List-I List-II
a. Recession I. Low
b. Boom II. Positive
c. Recovery III. Highest level
d. Depression IV. Negative
List-I List-II
a. Recession I. Low
b. Boom II. Positive
c. Recovery III. Highest level
d. Depression IV. Negative
31
Under Cournot Model of Duopoly, each duopolist will produce :
32
As long as the substitution effect dominates the income effect, the labour supply curve is :
33
Assertion (A) : Monopoly is Pareto inefficient .
Reason (R) : It would be possible to change the allocation of resources to make the amount of Income he would be prepared to pay in exchange of the reduction in price
Reason (R) : It would be possible to change the allocation of resources to make the amount of Income he would be prepared to pay in exchange of the reduction in price
34
If MPk/MPk does not change with any proportionate change in labour and capital then the production function is :
35
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
I. Agency Theory of 1. O.E. Williamson
Firm
II. X-inefficiency 2. M.C. Jenson and W. J. Meckling
III. The Utility 3. Wilfredo Pareto
Maximisation
Model
IV. Edgeworth box 4. Harvey Leibenstein
Diagram first
Used by
List-I List-II
I. Agency Theory of 1. O.E. Williamson
Firm
II. X-inefficiency 2. M.C. Jenson and W. J. Meckling
III. The Utility 3. Wilfredo Pareto
Maximisation
Model
IV. Edgeworth box 4. Harvey Leibenstein
Diagram first
Used by
36
The revealed preference theory of consumer’s behavior is based on :
37
An individual’s supply curve for labour will bend backwards when :
38
The short run supply curve of a firm under perfect competition is the same as the :
39
Match List-I with List-II and select the correct answer from the codes given below :
List-I List-II
a. Quasi rent 1. Hicks
b. Elasticity of substitution 2. Chamberlin
c. Monopolistic 3. Neumann and Morgenstern
d. Theory of Games 4. Marshall
Codes :
List-I List-II
a. Quasi rent 1. Hicks
b. Elasticity of substitution 2. Chamberlin
c. Monopolistic 3. Neumann and Morgenstern
d. Theory of Games 4. Marshall
Codes :
40
The difference between the value of marginal product and the marginal revenue product arises only if :
41
Assertion (A) : In the short run, a producer operates in only stage II of the law of diminishingreturns where average product of the variable factor is decline
Reason (R) In stage I and Stage III the marginal products of the fixed and the variable factors respectively are negative
codes :
Reason (R) In stage I and Stage III the marginal products of the fixed and the variable factors respectively are negative
codes :
42
Assertion (A) : In monopolistic competition a firm earns only normal profit in the long run
Reason (R) A firm in monopolistic competition produces a commodity which has no closesubstitutes
Codes :
Reason (R) A firm in monopolistic competition produces a commodity which has no closesubstitutes
Codes :
43
The Opportunity Cost Curve assumes that
44
Hedging refers to ;
45
An increase in the marginal propensity to import :
46
The price elasticity of demand is equal to one for a demand curve, which is:
47
The third moment around the mean is useful to measure
48
Which of the following plans aimed at improving the standard of living ?
49
Golden Age hypothesis is concerned with :
50
Which of the following can be evaluated with the help of Lorenz Curve ?
51
Which of the following distribution function has equal mean and variance ?
52
Global 2008 Financial crisis was created by :
53
For downward movement along the isoquants , MRTS of labour per unit of capital (MRTSL,K) is given by:
54
Which of the following is not instructional material ?
55
Which of the following is the most significant in stabilization policy ?
56
The concept of vicious circle of poverty is associated with :
57
Solow built his model as an alternative to :
58
Green Box subsidies under WTO are allowed because they are considered to be :
59
Which one of the following is not reserved for public sector ?
60
The rate at which the Central Bank discounts the bills of commercial banks is called :
61
If the economy is the liquidity trap then
62
If the price consumption curve of a commodity is bending backwards , then the commodity must be :
63
IS curve represents :
64
''Freedom as Development “ Book is written by :
65
The Chairman of 13th Finance Commission is :
66
Human Development index was formulated by :
67
In the Hekscher-Ohlin theory, the most important cause of the difference in relative commodity prices and trade between nations is a difference in :
68
Marginal Revenue of a Monopoly firm is less than the price, Because :
69
For an inferior goods , income consumption curve and Engles curves are :
70
The classical economists focused on the role of money as :
71
If the demand for money is perfectly interest inelastic , the LM schedule will be :
72
Harrod –Domer model of economic growth is based on the equilibrium between
73
What is the primary focus of microeconomics?
74
Who is considered the father of economics?
75
Microeconomics is concerned with which of the following?
76
Which of the following is an example of a microeconomic issue?
77
Which of the following best defines microeconomics?
78
What does the term "economics" originally mean?
79
The scope of microeconomics includes all the following except:
80
Which of the following is a normative statement?
81
What does positive economics deal with?
82
Economics as a science is primarily based on:
83
According to Alfred Marshall, economics is:
84
Which of the following theories explains inflation as a result of an increase in aggregate demand in the economy?
85
In the Philips Curve, what is the relationship between inflation and unemployment?
86
Which of the following is a characteristic of inflationary gap?
87
Which of the following factors does NOT contribute to demand-pull inflation?
88
According to the Philips Curve, which of the following happens when unemployment is reduced?
89
Which theory of inflation suggests that inflation occurs when the cost of production increases, causing producers to raise prices to maintain profits?
90
Which of the following is a possible effect of inflation?
91
The use of differential calculus in economics primarily helps in:
92
In the context of economics, the first-order derivative of the total cost function represents:
93
Profit maximization occurs when the:
94
A firm will continue producing as long as:
95
The price-quantity determination in a competitive market is influenced by:
96
Partial differentiation is used to analyze how:
97
In economics, the partial derivative of a production function with respect to labor gives:
98
If the marginal cost (Mc) is equal to the average cost (AC), then:
99
In economics, elasticity of demand measures:
100
If the elasticity of demand is greater than 1, the demand is:
101
Which sector contributes the highest to India's Gross Domestic Product (GDP)?
102
What type of economy does India have?
103
The term 'Demographic Dividend' refers to:
104
Which of the following is a characteristic of the Indian economy?
105
The 'Informal Sector' in India refers to:
106
Which organization is responsible for calculating India's GDP?
107
The term 'Inclusive Growth' in the Indian context means:
108
Which of the following is NOT a feature of the Indian economy?
109
The 'Green Revolution' in India was associated with:
110
Which sector is known as the 'Primary Sector' in the Indian economy?
Education Methodology
1
What is the primary goal of pre-primary education?
2
What does Universalisation of Elementary Education (UEE) aim to achieve?
3
Which initiative focuses on improving secondary education in India?
4
What is the main objective of the Sarva Shiksha Abhiyan (SSA)?
5
What does the RTE Act, 2009, mandate for children aged 6-14?
6
What is the purpose of the Samagra Shiksha scheme?
7
What is a key feature of the RUSA initiative?
8
What does the term "functional literacy" refer to?
9
What is the primary aim of open schooling?
10
What is a major cause of dropouts in Indian schools?
11
What does delinking degrees from employment aim to achieve?
12
What is a key objective of vocationalisation of education?
13
What is a major challenge in the education of socially disadvantaged groups?
14
Which group is considered a socially disadvantaged group in education?
15
What is the primary goal of inclusive education?
16
What is a key feature of Universal Design for Learning (UDL)?
17
Which constitutional value promotes equal educational opportunities?
18
What is a key barrier to education in India?
19
Which pre-independence commission focused on education in India?
20
What was the focus of the Kothari Commission (1964-66)?
21
Which policy promotes free education for children aged 6-14?
22
What is a key feature of non-formal education?
23
What does brain drain refer to in education?
24
Which initiative promotes skill development in schools?
25
What is a key objective of the Functional Literacy Programme?
26
Which constitutional provision supports education for all?
27
What is a major challenge in achieving universal elementary education?
28
What is the purpose of the RTE Act, 2009?
29
Which scheme integrates pre-school to higher secondary education?
30
What is a key feature of informal education?
General Knowledge
1
Yojna a weekly journal
2
The respiratory quotient during cellular respiration would depend on
3
How many such pairs of letters are there in the word ‘CLEANLINESS’ each of the which has as many letters between them in the word as they have in the English alphabet, in the same sequence?
4
The cash difference between the selling prices of an article at a profit of 4% and 6% is Rs. 3. The ratio of the two selling prices is:__________ ?
5
When was the Constituent Assembly of India formed?
6
Who is known as the "Missile Man of India"?
7
Which is the longest river in India?
8
Which period is considered the golden age of Tamil literature?
9
Which Indian state launched the βGreen Energy Villagesβ initiative in 2025 to promote renewable energy?
10
What does the abbreviation "UNESCO" stand for?