A. March-April B. September-December
C. January-June D. February-April
Ans. C
2. The relationship between the rate of interest and level of consumption was first visualized by:
A. Amartya K. Sen B. Milton Friedman
C. Irving Fisher D. James Duesenberry
Ans. B
3. ‘Take-off stage' in an economy means-
A. Steady growth begins B. Economy is stagnant
C. Economy is about to collapse. D. All controls are removed.
Ans. A
4. Taxes are as certain as the death, because :
A. They constitute the major source of government revenue
B. Government have no other source of revenue,
C. Most PSUs are run inefficiently
D. Government has its own budget constraints.
Ans. A
5. India switched over to the decimal currency system in –
A. 1955 B. 1956
C. 1957 D. 1958
Ans. C
6. Alfred Marshall belongs to
A. Classical period B. Neo-classical period
C. Modern period D. Growth period
Ans. A
7 . If the marginal return increases at a diminishing rate, the total return-
A. increases B. decreases
C. remains constant D. becomes zero
Ans. B
8.If average cost falls, marginal cost-
A. increases at a higher rate B falls at the same rate.
C. increases at a lower rate D. falls at a higher rate
Ans. D
9 Economic Growth is usually coupled with
(a) deflation (b) inflation
(c) stagflation (d) hyper-inflation
Ans.(b)
10. Which one of the following is the correct statement ?
Service Tax is an :
A. direct tax levied by the Central Government
B. indirect tax levied by the Central Government
C. direct tax levied by the State Government
D. indirect tax levied by the State Government
Ans. B
