Economics Practice Questions Set 10

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For India's Top Government Exams

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What is meant by price discrimination?
*

1 point

Increase in price of a commodity over time

A situation where the same product is sold to different consumers for different prices

Subsidization of a product by the Government to sell it at a lower price

The general decrease in the price of a commodity over time

Which of the following is/are example(s) of ‘Near Money’?

1. Treasury Bill
2. Credit Card
3. Saving accounts and small time deposits
4. Retail money market mutual funds
Select the correct answer using the code given below:

1 point

1 only

2 only

1, 2 and 3

1, 3 and 4

Which one of the following represents a progressive tax structure? *

1 point

The tax rate is the same across all incomes

Tax rate increases as income increases

Tax rate decreases as income increases

Each household pays an equal amount of tax

What is meant by ‘Public Good’?
*

1 point

A commodity produced by the Government

A commodity whose benefits are indivisibly spread among the entire community

A Government scheme that benefits the poor households

Any commodity that is very popular among the general public

Which of the following statements is/are true with respect to the Phillips curve?

1. It shows the trade-off between unemployment and inflation
2. The downward sloping curve of the Phillips curve is generally held to be valid only in the short run.
3. In the long run, Phillips Curve is usually thought to be horizontal at the non-accelerating inflation rate of unemployment (NAIRU)
Select the correct answer using the code given below:

1 point

1 only

2 and 3 only

1 and 2 only

1, 2 and 3

In view of the fact that kerosene is an inferior good in India, what is/are its implication(s)?

1. As households get richer, they consume less kerosene.
2. Over time there is a decline in the quality of kerosene.
3. Government needs to stop subsidies on kerosene.
Select the correct answer using the code given below.

1 point

1 only

1 and 2 only

2 and 3 only

1, 2 and 3

Which one of the following statements about the Companies Act, 2013 is not correct?
*

1 point

The Act regulates the corporate sector to make it accountable

It provides for Corporate Social Responsibility

It provides more opportunities for new entrepreneurs.

It enables the wide application of Information Technology.

In view of the fact that kerosene is an inferior good in India, what is/are its implication(s)?

1 point

1 only

1 and 2 only

2 and 3 only

1, 2 and 3

Which one of the Five Year Plans had a high priority to bring inflation under control and achieve stability in the economic situation?
*

1 point

Fourth Plan(1969-74)

Fifth Plan(1974-79)

Sixth Plan(1980-85)

Seventh Plan(1985-90)

Which one of the following is an example of a ‘natural monopoly’?
*

1 point

Indian Airlines

Delhi Jai Board

Delhi Transport Corporation

Steel Authority of India

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