MCQs on economics for practicePART11. Frequency density of a class is defned as(A) Frequency of the class!nter"al of the class(#) Frequency of the class Cumulati"e frequency for the class(C) Cumulati"e frequency for the classFrequency of the class($) Frequency of the class Frequency of the pre"ious class%. &hich of the follo'in( is statistics)(A) *roft of a frm has (one up(#) +he production of 'heat has increased(C) +he temperature of $elhi is , de(ree more than the temperature of Mum-ai($) +he -irth rate has declined in !ndia.. At end March %//01 !ndias total forei(n e2chan(e reser"es stood at)(A) Appro2imately 3 1,/ -illion(#) Appro2imately 3 %// -illion(C) Appro2imately 3 %,/ -illion($) Appro2imately 3 .// -illion4.A frm is called ma2imum e5cient frm if it has)(A) Minimum +otal Cost(#) Minimum A"era(e Cost(C) Minimum 6aria-le Cost($) Minimum Mar(inal Cost,. !mplicit cost may -e considered as)(A) 7ocial cost(#) *ri"ate cost(C) 8ormal cost($) 6aria-le cost9 :+he Mid;day Meal scheme is co"ered under the Ministry of)(A) . A. 7chumpeter)(A) =isB theory of proft(#) Fncertainty -earin( theory of proft(C) !nno"ation theory of proft($) $ynamic theory of proft1/. +he formula for determination of num-er of class;inter"al for a frequency distri-ution is (i"en -y)(A) Connor*F+ GHF= &H=$7 !8+H AC+!H8MCQs on economics for practice(#) 7pur(C) 7tur(es($) 7ecrist11. !n the Fnion #ud(et1 the term :*rimary $efcit means)(A) =e"enue $efcit !nterest *ayment(#) Fiscal $efcit !nterest *ayment(C) =e"enue ?2penditure =e"enue =eceipts($) +otal ?2penditure +otal #orro'in(1%. As a measure to unearth -lacB money1 the demonetisation of =upees 1/// currency notes in!ndia 'as done in the year)(A)109C(#) 10AC(C)10CC($)100C1.. +he Eead #anB scheme 'as launched in !ndia on the recommendation of)(A) M. 8arasimhan(#) F. I. F. 8ariman(C) $. +. EaBda'ala($) 6. M. $andeBar14. Firms ha"e chronic e2cess production capacity in)(A) $uopoly(#) Hli(opoly(C) *ure competition($) Monopolistic competition1,. !n a t'o sector model 'hen consumption is equal to 4/ J /.0/ G and in"estment is equal to ,/1 the equili-rium output 'ill -e equal to)(A) ,//(#) A//(C) 0//($) 11//19. +he positional a"era(e is sho'n -y )(A) Mean de"iation(#) 7tandard de"iation(C) Mean($) Median1A. +he shutdo'n point is that le"el of output of a frm 'here)(A) MCKAFC(#) MCKA6C(C) MCK+FC($) MCK+6C1C. &hich of the follo'in( functions is not a component of Ialdors model of (ro')(A) ?mployment function(#) +echnical pro(ress function(C) 7a"in( function($) !n"estment function10. &alras Ea' states that the sum of the e2cess demand for money1 -onds and current output must -e)(A) Eess than Dero(#) ?qual to Dero*F+ GHF= &H=$7 !8+H AC+!H8MCQs on economics for practice(C) ?qualto one($) More than Dero%/. For a unitary elastic demand cur"e1 'hen price increases 1the amount spent -y a consumer on a (ood)(A) $ecreases(#) !ncreases(C) =emains unchan(ed($) #ecomes Dero%1. Correlation coe5cient is si(nifcant if it is)(A) Eess than 9 times of pro a-le error(#) More than 9 times of pro-a-le error(C) ?qual to pro-a-le error($) ?qual to standard error%%. +he term rainy day used -y Ieynes is related 'ith)(A) ?@ecti"e demand(#) *recautionary demand(C) !n"estment multiplier($) !nLationary (ap%.. =oot mean square of all the de"iations is Bno'n as)(A) Mean de"iation from median(#) Mean de"iation from mode(C) 7tandard de"iation($) Quartile de"iation%4. !f there is perfect correlation -et'een t'o "aria-les1 then the re(ression lines are)(A) *arallel(#)*erpendicular(C)Coincidental($)!ntersectional%,. A producers surplus is equal to)(A) A=MC(#) A=AC(C) A=;M=($) +=+C%9. Accordin( to %//1 census1 the total num-er of persons li"in( in ur-an slums 'as appro2imately)(A)1 crore(#) % crore(C).crore($) 4 crore%A. +he ta2 called C?86A+ is related to)(A) Central 7ales +a2(#) Fnion ?2cise $uty(C) Corporate +a2($) Custom $uty%C. +he price and quantity1-oth are indeterminate under)(A) *ure competition(#) *erfect competition(C) Monopoly($) #ilateral monopoly%0. &hich of the follo'in( is not an e2ample of !nternal ?conomies)(A) ?conomies of superior technolo(y*F+ GHF= &H=$7 !8+H AC+!H8MCQs on economics for practice(#) ?conomies of di"ision of la-our(C) ?conomies of competition($) ?conomies of mana(ement./. &hich of the follo'in( type of facts are not Considered under the study of statistics(A) Quantitati"e facts(#) Qualitati"e facts(C) Comparati"e facts($) =elati"e facts.1. +he statistical calculations in classifed data are -ased on)(A) +he actual "alues of o-ser"ations(#) +he upper class limits(C) +he lo'er class limits($) +he mid;points of the classes.%. +he concept of merit (oods has -een introduced -y)(A)#uchanan(#) Mus(ra"e(C)7amuelson($) +ie-out... +he Child Ea-our (*rohi-ition and =e(ulation) Act1 10C9 prohi-its the employment of Children -elo' the a(e of)(A) 1/ years(#) 1% years(C) 14years($) 19years.4.+he *rime Eendin( =ate of Commercial #anBs are decided -y)(A)*ositi"e(#) 8e(ati"e(C)Mero($) !nfnite.,. +he cross elasticity of demand for su-stitute commodities is al'ays)(A)*ositi"e(#) 8e(ati"e(C)Mero($) !nfnite.9. +he I;factor analysis is related 'ith)(A)?conomic (ro'th rate(#)+ends in forei(n trade(C)Causes of mortality($)!nfrastructure facilities.A. +he :Bnife;ed(e equili-rium in