EDUCATION CIRCLE

1.Bandwogon Effect is also known as : 1.Demonstration Effect  2.Richet Effect ✔ 3. 1 or 2 4.None 2.Veblen Effect is also know as : 1.Demonstration Effect ✔ 2.Richet Effect  3. 1 or 2 4.None 3.When poor person has BMW car or RADO Watch which example of : 1.Bandwagon Effect 2.Snob effect 3.Veblen Effect 4.None✔ 4. Why Snob effect is negative externalities ? 1.Rare Goods & service  2.Full right  to control the product production  3.Less quantity of products available  4.All✔ 5.Which type of elasticity is function on Veblen Effect? 1.e>1✔ 2.e<1 3.e=0 4.None 6. Who was discussed about  Bandwagon, Veblen & Snob effect clearly ? 1.Kuzenets 2.Robinason 3.Liebenstin✔ 4.None 7.Which one is not related to external effect on Utility ? 1.Snob Effect 2.Bandwagon Effect 3.Veblen Effect 4.Richet Effect in production✔ 8.Which is example of positive externalities?  1.Bandwagon Effect✔ 2.Veblen Effect

Direction: Read the passage given below and answer the questions that follow it: Suppose that for a particular economy for some time period, investment was equal to 100, gov-ernment expenditure was equal to 75, net taxes were fixed at 100 and consumption (C) was given by the consumption function: C = 25 + 0.8 YD ,Where YD is disposable income and Y is GDP. (Questions 1-3) 1. What is the value of tax multiplier (∆Y/∆T)? A. -2 B. -3 C. -4 ✔ D. -5 2. What is the value of government expenditure multiplier (∆Y/∆G)? A.3  B.4 C.5 ✔ D.6 3. What is the level of equilibrium income(Y)? A.600✔ B. 700 C. 800 D. 850 4. Which of the following is an example of a public good ? A. Residential building B. National defence ✔ C. Restaurant meals D. Swimming pool of a house 5. The excess supply of a commodity above the no-trade equilibrium price given one nation’s? A. Import demand for the commodity B. Export supply and import demand for the commodity C. Export supply

1.A measure of dispersion is always  A) Zero B) Positive✔ C) Negative D) Infinity 2.Which of these is a relative measure of dispersion A) Standard Deviation B) Variance C) Coficient of Variation✔ D) None of these 3.The measure of dispersion is changed by a change of A) Origin B) Scale✔ C) Algebraic Signs D) None 4.Mean Deviation, Variance and Stand-ard Deviation of thevalues 4, 4, 4, 4, 4, 4 is A) 4  B) 8  C) 2  D)0✔ 5.The mean deviation of the values, 18, 12, 15 is A) 6 B) 0 C) 3 D) 2✔ 6.The sum of squares of deviation is least if measure from A) Mean✔ B) Mode C) Median D) Variance 7.The sum of squared deviations of a set of n values from their mean is A) Zero B) Maximum C) Least✔ D) None 8.Variance is always calculated from A) Mean✔ B) Variance C) Geometric Mean D) Median 9.Lowest value of variance can be A) 0✔ B) -1 C) 3 D) -3 10.The variance of a constant is A) Zero✔ B) Constant C) Normal D) None 11.Variance remains unch