SKVMS GFGC KUNDAPURA, NET/SLET/PSC Sample Questions series Economics

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Prepared by Dr. Subramanya A
This series contains 20 questions. Hence, students has to answer this series within 36=(1*1.8) minutes. The questions are borrowed from various NET Question papers. Each question carries 2 marks. The sole purpose of preparing this question series is to assists those students who pursuing /completed master degree in economics/commerce and management.

NAME OF THE CANDIDATE

CLASS

1.A measure how much quantity supplied response to a change in the price of that goods. This statement refer to

2 points

Price elasticity of supply

Income Elasticity of demand

Cost elasticity of supply

Non of the above

Clear selection

2.A firm that is the sole seller of product without close substitute called

2 points

Monopoly

Oligopoly

Perfect Competition

Deopoly

Clear selection

3.The input cost that requires an outlay of money by the organisation called-

2 points

Explicit cost

Implicit cost

Replacement cost

Marginal Cost

Clear selection

4.The relationship between quantity of input and quantity of output is called

2 points

Economic function

Cost Function

Manufacture function

Production function

Clear selection

5.Which is the assumption of utility analysis ?

2 points

Utility is measurable in terms of money

Utility is a price

There are substitutes

Non of the above

Clear selection

6.The slope of demand curve in the perfectly competitive market is

2 points

Vertical

Horizontal

Negative

Positive

Clear selection

7.In case of inferior goods the income elasticity of demand is

2 points

constant

Negative

Positive

Option 4

All the above

Clear selection

8.The profit maximising output is determined by the point where marginal revenue =

2 points

Average Cost

Total cost

Marginal Cost

Non the above

Clear selection

9. Which of the following statement is true?

2 points

If firm has market power and there is separation of ownership from control technical inefficiency may result because of the failure of managers to minimise cost.

Rent seeking involves the use of resources to acquire or maintain monopoly profit.

Rent seeking involves a dead weight loss to society because no additional goods or services are produced

All of the above

Clear selection

10.The most common price discrimination is - -degree discrimination

2 points

1st degree

3rd degree

2nd degree

all of the these

Clear selection

11.Which is densely populated state in India according to 2011 senses?

2 points

Kerala

Goa

Maharastra

Bihar

Clear selection

12.Which of the following is the most significant in stabilization policy?

2 points

private investment

Inventory investment

Autonomous investment

Public investment

Clear selection

13.The premise, that benefit of economic growth will reach all sections of population is called

2 points

Trickle up effect

Trickle down effect

Backlash effect

Take off effect

Clear selection

14.The Classical model of economic development emphasis

2 points

Laissez-fair policy

Capital accumulation

Both A and B

Non of these

Clear selection

15.According to monetary approach, a revaluation of nations currency

2 points

Increases the nation’s demand for money

Reduces nation’s demand for money

Reduces nation’s supply of money

Clear selection

16.In the long run the autonomous consumption will

2 points

Be infinity

Remains unchanged

Decline but will remain positive

Be zero

Clear selection

17.In which year the wild life board in India was established

2 points

1952

1968

1986

1992

Clear selection

18.Who criticised Indian planning mechanism?

2 points

A K Sen

Jagadish Bhagwati

L K Jha

Bimal Jalan

Clear selection

19.Endogenous technological change is not caused by

2 points

FDI

Population density

Educationn level

Clear selection

20.Fiscal deficit less interest payments is called

2 points

Net fiscal deficit

Monitised deficit

Primary Deficit

Budgetary deficits

Clear selection

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