This is a Model test Paper for PGT Teachers in KVS



1.Repo rate is
(A) Share brokerage rate
(B) Short-term interest rate
(C) Bond discount rate
(D) The spread between foreign currency buying and selling prices
Ans: B


2. In India, the annual growth rate
of GDP at constant prices has
exceeded the level of 8% only—
(A) Three times
(B) Four times
(C) Five times
(D) Six times

Ans:C

3. The slope of the normal demand
curve is—
(A) Negative
(B) Positive
(C) Zero
(D) Infinity

Ans :A


4. The optimum tariff would be
highest if the elasticity of the
offer curve is—
(A) More than one
(B) Infinite
(C) Less than one
(D) One

ans:A

5. Devaluation can improve the
balance of payments only when
the sum of elasticity of demand
for Imports and elasticity of
demand for exports is—
(A) Equal to one
(B) Greater than one
(C) Smaller than one
(D) Zero

Ans:B
6. Trade in invisible refers to—
(A) Unrecorded trade
(B) Smuggling
(C) Trade in military goods
(D) Trade in services

Ans:D

7. Which of the following is not an
assumption of Harrod-Domar
models?
(A) Marginal propensity to save is greater than average propensity to save
(B) Marginal propensity to save remains constant
(C) There is no depredation of capital goods
(D) Saving and Investment relate to the income of the same year

Ans:A

8. Demand curve is a monotonic ..... function of price.
(A) Decreasing
(B) Increasing
(C) Decreasing and increasing
(D) Increasing and decreasing

Ans:A


9. For the deemandd function x=400/P
the estimated value of demand at
P - 20 units will be—
(A) 25 units
(B) 20 units
(C) 30 units
(D) 15 units

Ans:B

10. When was Reserve Bank of India
nationalised ?
(A) January, 1949
(B) April 1935
(C) October, 1956
(D) March, 1951

Ans:A

11. According to Lewis, at current
wage rate the supply ot labour
is—
(A) Perfectly Inelastic
(B) Inelastic
(C) Elastic
(D) Perfectly elastic

Ans: D

12. The maximum number of people
In India work in the—
(A) Primary
(B) Secondary sector
(C) Tertiary sector
(D) None of the above

ANS.A


13. If all the tax payers have to pay
10% of their Income as tax, it is a
case of—
(A) Progressive tax system
(B) Regressive tax system
(Q Proportional tax system
(D) Degressive Tax system

ANS:c

14. Keynes 'theory of economic
development' is lor following
economics—
(A) Laissez-faire
(B) Developed
(C) Underdeveloped
(D) Static

ANS:B


15. Money multiplier is the ratio
between—
(A) Quantity of total money and quantity of primary money
(B) Quantity of money and aggregate investment
(C) Quantity of total money and monetary national income
(D) Quantity of primary money and quantity of secondary money

ANS:A

16. Okun's law postulates—
(A) Positive relationship between unemployment and real gross domestic product
(B) Negative relationship between unemployment and real gross domestic product
(C) Positive relationship between money supply and price level
(D) Negative relationship between money supply and price level

ANS:B

17. When demand curve Is rectangular hyperbola, then elasticity
of demand will be—
{a) Unit Elastic
(B) Perfectly elastic
|C) Perfectly inelastic
(D) Hihgly elastic


ANS:A


18. The infant industry argument is often advocated in the context of—
(A) Price discrimination
(B) Product diversification
(C) Protection
(D) Resource mobilization


ANS:C
19. 'Production' may be defined as
an act of—
(A) Creating utility
(B) Earning profit
(C) destroying utility
(D) Providing service

ANS:A

20. 'Infant Industry Argument for Industrial Protection was propounded by—
(A) Freidrich List
(B) PauL Prebisch
(C) Mahatma Gandhi
(D) Ragner Nurkse

ANS:A

--
with warm regards

Harish Sati
Indira Gandhi National Open University (IGNOU)
Maidan Garhi, New Delhi-110068

(M) + 91 - 9990646343 | (E-mail) Harish.sati@gmail.com


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