Q. 'Supply creates its own demand' means -
1) Demand is supply
2) Supply is demand
3) Demand comes first and supply afterwards
4) Supply has nothing to do with demand
Q. The base year for estimation of GDP in India is -
1) 1999-2000
2) 2000-2001
3) 2004-2005
4) 2006-2007
Q. In any set of numbers, the geometrical mean exists only when all numbers are -
1) Positive
2) Negative
3) Zero
4) Positive, zero and negative
Q. Economists who introduced the notion of Human Capital are -
1) Schultz and Gary Becker
2) Marshall and Pigou
3) Hicks and Hansen
4) Stigler and Johnson
Q. Dead weight loss is equal to -
1) Producer's Surplus - Consumer's Surplus
2) Consumer's Surplus + Producer's Surplus
3) Marginal Revenue - Marginal Cost
4) Average Revenue + Average Cost
Q. Marshallian approach is popularly known as -
1) Cardinal utility approach
2) Ordinal utility approach
3) The modern utility approach
4) Indifference curve approach
Q. The sign of country's growth is -
1) More and more industries
2) Higher standard of living
3) Higher per capita income
4) More means of transport
Q. If the total production in an economy is produced by a few big firms then this market is known as -
1) Monopolistic competition
2) Oligopoly
3) Duopoly
4) Discriminating monopoly
Q. One of the following is average of second order -
1) Arithmetical mean
2) Geometrical mean
3) Second quartile
4) Standard deviation
Q. Borrowings from foreigners are known as -
1) Export of goods
2) Unrequited receipts
3) Capital receipts
4) Current receipts
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