Economics - Part 1 Online Exam Quiz

Economics - Part 1 GK Quiz. Question and Answers related to Economics - Part 1. MCQ (Multiple Choice Questions with answers about Economics - Part 1

Which one of the following is correct for a normal distribution


A : Standard deviation is maximum

B : Quartire deviation is maximum

C : Mean deviation is maximum

D : Quartile deviation, standard deviation and mean deviation are equal

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Which of the following is not a central problem of an economy


A : What to produce

B : How to produce

C : For whom to produce

D : Where to produce

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Who is known as the father of modern economics


A : Thomas Robert Malthus

B : Francois Quesnay

C : Adam Smith

D : David Ricardo

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The critical minimum effort theory is associated with the name


A : W A Lewis

B : D Ricardo

C : H Leibenstein

D : A D Hirschman

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The "Absorption Approach" analysing the effects of devaluation has been developed by


A : C P Kindleberger

B : B Soderston

C : T M Rybezynski

D : Sidney Alexander

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The Physical Quality of Life Index was calculated for the first time by


A : A Lewis

B : P Samuelson

C : Morris D Morris

D : E E Hagen

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If nominal GDP is equal to real GDP, then


A : The GDP deflator is equal to zero

B : The GDP deflator is equal to one

C : The GDP deflator is less than one

D : None of the above

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The National Income is equal to


A : Net National Product + Taxes

B : Net National Product – Indirect Taxes + Subsidies

C : Net National Product – Direct Taxes + Subsidies

D : Gross National Product — Subsidies + Taxes

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The difference between gross domestic product and net domestic product equals


A : Transfer payments

B : Indirect taxes

C : Subsidies

D : Depreciation cost

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In macroeconomics disposable income refers to


A : Income after taxes and transfers

B : After - tax income

C : Income spend on consumer durable items

D : Income over and above cost of necessities

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