ECONOMICS MCQ PART—1

1. Frequency density of a class is defined as—
(A) Frequency of the class/Interval of the class
(B) Frequency of the class/ Cumulative frequency for the class
(C) Cumulative frequency for the class/Frequency of the class
(D) Frequency of the class/ Frequency of the previous class

2. Which of the following is statistics?
(A) Profit of a firm has gone up
(B) The production of wheat has increased
(C) The temperature of Delhi is 5 degree more than the temperature of Mumbai
(D) The birth rate has declined in India

3. At end March 2009, India’s total foreign exchange reserves stood at?
(A) Approximately $ 150 billion
(B) Approximately $ 200 billion
(C) Approximately $ 250 billion
(D) Approximately $ 300 billion

4.A firm is called maximum efficient firm if it has?
(A) Minimum Total Cost
(B) Minimum Average Cost
(C) Minimum Variable Cost
(D) Minimum Marginal Cost

5. Implicit cost may be considered as?
(A) Social cost
(B) Private cost
(C) Normal cost
(D) Variable cost

6 ‘The Mid-day Meal’ scheme is covered under the Ministry of?
(A) Human Resource Development
(B) Health and Family Welfare
(C) Social Justice and Empowerment
(D) Consumer Affairs, Food and Public Distribution

7. Which of the following associate bank has been taken over by the State Bank of India in 2008?
(A) State Bank of Travancore
(B) State Bank of Hyderabad
(C) State Bank of Mysore
(D) State Bank of Saurashtra

8. Which of the following demand curves is not a constant elasticity curve?
(A) Vertical
(B) Horizontal
(C) Linear
(D)Rectangular hyperbola

9. The following theory of profit has been given by J. A. Schumpeter?
(A) Risk theory of profit
(B) Uncertainty bearing theory of profit
(C) Innovation theory of profit
(D) Dynamic theory of profit

10. The formula for determination of number of class-interval for a frequency distribution is given by?
(A) Connor
(B) Spur
(C) Sturges
(D) Secrist

Answers:

1	c
2	b
3	a
4	a
5	a
6	c
7	d
8	a
9	a
10	b