Economics GK Quiz

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Q106. According to Rybczynski theorem, commodity prices should by
(a) Increasing
(b) Decreasing
(c) Constant
(d) Either (A) or (B)

Q107. The shape of the production possibility curve under constant opportunity cost is
(a) Upward sloping
(b) Downward sloping
(c) Straight line
(d) U-Shape

Q108. Which of the following is not a method for redeeming public debt
(a) Capital levy
(b) Grants-in-aid
(c) Sinking fund
(d) Terminal annuities

Q109. The displacement effect hypothesis was formulated by
(a) Dalton
(b) Musgrave
(c) Pigou
(d) Peacock and Wiseman

Q110. The non-exclusion principle is related to
(a) Merit goods
(b) Private goods
(c) Public goods
(d) Mixed goods

Q111. A monopolist will have the equilibrium output of his product where the elasticity of his average revenue curve is
(a) Equal to unity
(b) More than unity
(c) Less than unity
(d) Zero

Q112. "Inflation is unjust and deflation is inexpedient. Of the two, perhaps deflation is the worst." The above statement was given by
(a) A.C. Pigou
(b) J.R. Hicks
(c) J.M. Keynes
(d) Alfred Marshall

Q113. Who proposed the zero-based budgeting for the first time
(a) Adam Smith
(b) Peter Pyhrr
(c) Findley Shirras
(d) Ragnar Frisch

Q114. Cohn and Plehn classified public expenditure on the basis of
(a) Income
(b) Benefit
(c) Revenue
(d) Utility

Q115. Cumulative Frequency Curve may be used to find the value of
(a) Median
(b) Mean Deviation
(c) Mode
(d) Kurtosis

Q116. The slope of the LM curve depends upon which of the following
(a) Interest elasticity of demand for money
(b) Interest elasticity of investment
(c) Interest elasticity of income
(d) (B) and (C) both

Q117. In the long-run, the autonomous consumption will be
(a) Zero
(b) Infinity
(c) Remain unchanged
(d) Decline but will remain positive

Q118. Wagner's hypothesis is related to
(a) Public Debt
(b) Public Revenue
(c) Public Undertakings
(d) Public Expenditure

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