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:: Economics-2
11.In the Union Budget, the term 'Primary Deficit' means? 
(A) Revenue Deficit — Interest Payment
(b)Fiscal Deficit — Interest Payment
(c)Revenue Expenditure — Revenue Receipts
(d)Total Expenditure — Total Borrowing
 
12.As a measure to unearth black money, the demonetisation 
 of Rupees 1000 currency notes in India was done in the year?
(A)1968
(B)1978
(C)1988
(D)1998
 
13.The Lead Bank scheme was launched in India on the recommendation of?
(A)M. Narasimhan
(B)F. K. F. Nariman 
(C) D. T. Lakdawala 
(D) V. M. Dandekar
 
14.Firms have chronic excess production capacity in? (A) Duopoly
(b)Oligopoly
(c)Pure competition
(d)Monopolistic competition
 
15.In a two sector model when consumption is equal to 40 + 0.90 Y
 and investment is equal to 50, the equilibrium output will be equal to?
(A)500
(B)700
(C)900
(D)1100
 
16.The positional average is shown by ? 
(A) Mean deviation
(b)Standard deviation 
(C) Mean
(D) Median
 
17.The shutdown point is that level of output of a firm where?
(A)MC=AFC
(B)MC=AVC
(C)MC=TFC
(D)MC=TVC
 
18.Which of the following functions is not a component of Kaldor's model of grow?
(A)Employment function
(B)Technical progress function
(c)Saving function
(d)Investment function
 
19.Walra's Law states that the sum of the excess demand for money,
 bonds and current output must be?
(A) Less than zero 
(B) Equal to zero
(C)Equalto one
(D)More than zero
 
20.For a unitary elastic demand curve, when price increases ,the amount spent by 
a consumer on a /good?
(A) Decreases 
(B) Increases
(c)Remains unchanged
(D)Becomes zero
 
 
Answers
 
11B
12B
13B
14D
15C
16D
17B
18B
19B
20C
 


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