MCQs only

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1.Which characteristic is associated with monopolistic competition? 
A) Collusion 
B)Product differentiation 
C) Small number of firms 
D) Awareness of rival firms in the market

2.When government expenditure exceeds total government receives the budget deficit is...
A) positive
 B) negative
C) zero
D) indeterminate

3.In an Harrodian economy ICOR is 4.5:1, population growth is 2% per annum and the investment rate is 27%.The annual growth of per capita income will be
A) 2.5%
B) 9%
C) 6%
D) 4%

4.Stackelberg model is a:-
1. Sequential game
2. Simultaneous game
3. Strategic game
Code:
A. 1,2      B. 1,3
C. 2,3       D.1,2,3

5.From the revealed preference theory, we can derive marshallian demand curve, if we ignore
A)Substitution effect
B)Income effect
C)Price effect
D)Indifference effect

6.According to Vernon product cycle theory a new product passes through which of the following stages
A)New product stage
B) Maturing product stage
C) standardized product stage
Code:-
  1:  A and B
  2: B and C
  3: A and C 
  4: A,B,C

7.Which of the following factor is different
A)Land 
B)Labour 
C)Capital
 D)Entrepreneur

8.If consumption function: C=50+0.5Yd, t=0.2Y
Then the value of multiplier??
A)2
B)2.5
C)3.33
D)3.5

9.Capitalism is called market economy because
A)Producers and Consumers are free to exercise their choices
B)There is no Central authority to direct the economy
C)The economy is self driven
D)All the above

10.A rational consumer choosing between uncertain event will make a choice on the basis of
A)expected monetary benefits
B)expected future income
C)expected utility
D)expected prices

 11.IMF can grant loan to
(a) Any sovereign country of the World 
(b) Any sovereign country of the World and Public Sector companies backed by Sovereign guarantee 
(c) Any Member country of IMF 
(d) Any Member country of IMF and Public Sector Companies backed by Sovereign guarantee of Member Country ‘

 12.In which among the following forms, the Special Drawing Rights (SDR) are kept as currency of International Monetary Fund? 
(a) Paper Currency 
(b) Gold 
(c) Book Keeping Entry 
(d) A combination of all of three

13.The classical economists focussed on the role of money as:
A) medium of exchange
B) medium of distribution
C) wealth
D) link between present and future

 14.For an inferior goods, income consumption curve and Engles curves are
A) Positively sloped
B) Negatively dloped
C) Are the same
D) Income consumption curve positively sloped and the Engles curve is negatively sloped

 15.If the demand for money is perfectly interest inelastic, the LM schedule will be
A) Upward sloping
B) Downward sloping
C) Horizontal line
D) Vertical line

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