Monday, 14 November 2016

HSST Economics Solved Paper SR for SC/ST Category Code: 691/2014 - Part 3

41.       The fundamental assumption of Absolute Income Hypothesis is
(A) Consumption - Income relationship is reversible
(B) Consumption - Income relationship is irreversible
(C) Consumption - Income relationship is passive
(D) Consumption - Income relationship is indeterminate
Answer: A
42.       In the Fishers equation of exchange MV = PT, the variable 'V' stands for
(A) Value of money
(B) Velocity of circulation of money
(C) Volume of goods and services
(D) Value of goods and services
Answer: B
43.       The level of unemployment at which a constant rate of inflation may be maintained is called
(A) Mean rate of unemployment
(B) Actual rate of unemployment
(C) Warranted rate of unemployment
(D) Natural rate of unemployment
Answer: D
44.       Money that has no intrinsic value but established by a government decree is known as
(A) Fiat money
(B) Commodity money
(C) Plastic money
(D) Real money
Answer: A
45.       Money supply curve in the Keynesian analysis of liquidity preference is
(A) Vertical straight line
(B) Horizontal straight line
(C) Downward slopping curve
(D) None of the above
Answer: A
46.       The LM curve will shift to right when there is an
(A) Increase in the rate of saving
(B) Increase in the investment
(C) Increase in the money supply
(D) Increase in the public borrowings
Answer: C
47.       The basic proposition of the psychological law of consumption is that
(A) APC and MPC are equal
(B) APC is negative
(C) MPC is positive but less than unity
(D) MPC is always equal to one
Answer: C
48.       The relationship between unemployment and the rate of change in the wage rate, according to A. W. Phillips is
(A) Inverse and non-linear
(B) Direct and proportional
(C) Direct but non proportional
(D) Inverse but linear
Answer: A
49.       The expansion and contraction process in the business cycle model of Kaldaor is brought about by the
(A) Interaction between multiplier and accelerator
(B) Business expectations
(C) Stock of capital
(D) Technological shocks
Answer: C
50.    Monetarism postulates that
(A) Money is a substitute for a wide range of real and financial assets but no single asset is a close substitute for money
(B) A fiscal-monetary mix will bring about stabilities
(C) Fiscal policy is more effective in curbing inflation and generating full employment
(D) Money is neutral and insignificant
Answer: A

51.    The theory of vicious circle deals with
(A) Full employment
(B) Imperfect markets
(C) Poverty
(D) Inequality
Answer: C
52.    The marginal productivity of labour under the state of disguised unemployment is
(A) Equal to one
(B) Equal to zero
(C) Greater than one
(D) Equal or greater than one
Answer: B
53.    The theory of Economic development with unlimited supplies of labour argues for
(A) Promotion of DPA and SOC in the economy to absorb excess labour
(B) Improvement of agriculture to provide more employment
(C) Unlimited supply of labour at the current market wage
(D) Shifting of labour with zero marginal productivity from agriculture to industry
Answer: D
54.    The technique which provides numerical solution to the problem of making optimum in the context of given constraints
(A) Linear programming
(B) Shadow pricing
(C) The incremental capital-output ratio
(D) Choice of technique
Answer: A
55.    The book 'Asian Drama' has been written by
(A) Gunar Myrdal
(B) C. P. Kindleberger
(C) A. P. Thrilwall
(D) Ragnar Nurkse
Answer: A
56.    In the model of Golden Age, equilibrium is attained when
(A) Growth rate of labour is equal to the growth rate of technology
(B) Incremental saving is equal to investment
(C) Rate of growth of capital is equal to the rate of growth of labour
(D) COR is equal to ICOR
Answer: C
57.    The knife edge equilibrium is attained at the point where
(A) Gn > Gw > G
(B) Gn = Gw
(C) G = Gn
(D) G = Gn = Gw
Answer: D
58.    P. C. Mahalanobis was the architect of
(A) First five year plan
(B) Second five year plan
(C) Third five year plan
(D) Fourth five year plan
Answer: B
59.    The Planning Commission has been replaced in India by
(A) Finance Commission
(B) Niti Aayog
(C) Council for Economic Development
(D) Indian Economic Forum
Answer: B
60.    The National Bank for Agriculture and Rural Development (NABARD) was established in the year
(A) 1964
(B) 1969
(C) 1982
(D) 1991
Answer: C

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