Economics GK Quiz

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Q76. In which type of unemployment, marginal productivity is zero or near zero
(a) Structural
(b) Seasonal
(c) Disguised
(d) Frictional

Q77. Price theory is known as
(a) microeconomics
(b) public finance
(c) macroeconomics
(d) theory of employment

Q78. Interest is paid for the postponement of
(a) consumption
(b) saving
(c) investment
(d) tax payment

Q79. "Parallel economy" is equivalent to
(a) white money
(b) paper money
(c) black money
(d) bank money

Q80. The tertiary sector of an economy refers to
(a) service sector
(b) primary sector
(c) manufacturing sector
(d) information technology

Q81. Legal tender money is also known as
(a) credit money
(b) paper money
(c) fiat money
(d) bank money

Q82. The upper portion of the kinked demand curve is relatively
(a) more inelastic
(b) more elastic
(c) less elastic
(d) inelastic

Q83. Increase in cash reserve ratio leads to
(a) increase in bank credit
(b) decrease in bank credit
(c) constant bank credit
(d) increase in money supply

Q84. Tax imposed on value of the goods is
(a) specific tax
(b) value added tax
(c) cess
(d) Ad valorem tax

Q85. Which type of tax is collected for specific purpose
(a) Surcharge
(b) Cess
(c) Custom duty
(d) Excise duty

Q86. Who said "Interest is a reward for parting with liquidity"
(a) Adam Smith
(b) David Ricardo
(c) Alfred Marshall
(d) J.M. Keynes

Q87. The condition of Pareto optimality holds correct under
(a) Monopoly
(b) Monopolistic Competition
(c) Oligopoly
(d) Perfect Competition

Q88. Who among the following economists emphasized the role of non-economic factors in explaining growth
(a) N Kaldor
(b) R Harrod
(c) RM Solow
(d) JR Hicks

Q89. Who has used "Spring of Mineral water" analogy in explaining price-output decisions under oligopoly
(a) Stakelberg
(b) Cournot
(c) Edgeworth
(d) Hall and Hitch

Q90. Which of the following is the most important recommendation of the classical economists to solve the problem of unemployment
(a) Reducing population
(b) Large increase in public expenditure
(c) To reduce real wages
(d) To reduce money wages

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