1 - Who succeeded Alfred Marshall as Professor of Political Economy at Cambridge?
1 - Who succeeded Alfred Marshall as Professor of Political Economy at Cambridge?
A.C.Pigou
2 - Which one among the following does not match?
2 - Which one among the following does not match?
W.S. Jevons - Historical School
3 - Identify the Indian economist who was given an honorary knighthood by the British Government in 1990 for his wide-ranging contribution to education, development economics and finance:
3 - Identify the Indian economist who was given an honorary knighthood by the British Government in 1990 for his wide-ranging contribution to education, development economics and finance:
I.G.Patel
4 - Identify the author of "Poverty Under British Rule in India":
4 - Identify the author of "Poverty Under British Rule in India":
Dadabhai Naoroji
5 - Capital and Development Planning is the work of:
5 - Capital and Development Planning is the work of:
S. Chakravarty
6 - Who is the author of "Choice of Technique"?
6 - Who is the author of "Choice of Technique"?
Amartya Sen
7 - Identify the author of "Employment Aspects of Planning in Underdeveloped Countries":
7 - Identify the author of "Employment Aspects of Planning in Underdeveloped Countries":
K.N.Raj
8 - Identify the author of "The Trade Cycle":
8 - Identify the author of "The Trade Cycle":
R.C.Mathews
9 - The theory of Monopolistic Competition was developed in the 1930s. Almost simultaneously and independently by two well-known economists. One was E.H.Chamberlin who was the other?
9 - The theory of Monopolistic Competition was developed in the 1930s. Almost simultaneously and independently by two well-known economists. One was E.H.Chamberlin who was the other?
Joan Robinson
10 - Which of the following is not the work of J.A.Schumpeter?
10 - Which of the following is not the work of J.A.Schumpeter?
Readings in Economics
11 - Who is the author Capitalism, Yesterday and Today?
11 - Who is the author Capitalism, Yesterday and Today?
M.Dobb
12 - Identify the work by Amartya Sen:
12 - Identify the work by Amartya Sen:
Employment, Technology and Development
13 - Identify the nationality of the 1977 Economics Noble Prize winner Bertil Ohlion:
13 - Identify the nationality of the 1977 Economics Noble Prize winner Bertil Ohlion:
Swedish
14 - Which one of the following has been the most influential work of F.H.Knight?
14 - Which one of the following has been the most influential work of F.H.Knight?
Risk, Unertainty and Profit
15 - Who first formulated the Revealed Preference Approach to free the theory of consumer behaviour from the constraint of traditional concept of utility?
15 - Who first formulated the Revealed Preference Approach to free the theory of consumer behaviour from the constraint of traditional concept of utility?
Paul A.Samuelson
16 - Which of the following is the work of E.H, Chamberlin?
16 - Which of the following is the work of E.H, Chamberlin?
All of these
17 - Identify the author of "The Social Framework":
17 - Identify the author of "The Social Framework":
J.R.Hicks
18 - Who in particular advocated the longterm capital gains tax?
18 - Who in particular advocated the longterm capital gains tax?
N.Kaldor
19 - Which of the following is the work of Paul Baran?
19 - Which of the following is the work of Paul Baran?
The Political Economy of Growth
20 - With which of the following is the name of Jacob Viner associated?
20 - With which of the following is the name of Jacob Viner associated?
Single factoral terms of trade
21 - Who first formulated the "Marginal Productivity theory of Distribution"?
21 - Who first formulated the "Marginal Productivity theory of Distribution"?
J.B.Clark
22 - Which one of the following is the work of A.C.Pigou?
22 - Which one of the following is the work of A.C.Pigou?
Economics of Welfare
23 - Who is the author of the famous work "Asian Drama": An Enquiry into the Causes of Poverty of Nations?
23 - Who is the author of the famous work "Asian Drama": An Enquiry into the Causes of Poverty of Nations?
Gunnar Myrdal
24 - Who among the following served as Professor of Economics at Harvard?
24 - Who among the following served as Professor of Economics at Harvard?
E.H.Chamberlin
25 - The Cambridge School refers to the group of English economists who came under the influence of:
25 - The Cambridge School refers to the group of English economists who came under the influence of:
Alfred Marshall
26 - "The Modern or Neo-Keynesian Theory of Interest" owes it development largely to the efforts of:
26 - "The Modern or Neo-Keynesian Theory of Interest" owes it development largely to the efforts of:
J.R.Hicks
27 - Who wrote "Economics of Imperfect Competition"?
27 - Who wrote "Economics of Imperfect Competition"?
John Robinson
28 - Gunnar Myrdal was awarded Noble Prize for Economics in 19
28 - Gunnar Myrdal was awarded Noble Prize for Economics in 19
Dutch
29 - Who stated explicitly for the first time the Law of Comparative Costs in the context of the theory of international trade?
29 - Who stated explicitly for the first time the Law of Comparative Costs in the context of the theory of international trade?
David Ricardo
30 - With which of the following concepts is the name of J.M. Keynes particularly associated?
30 - With which of the following concepts is the name of J.M. Keynes particularly associated?
All of the above
31 - Identify the author of "The Affluent Society":
31 - Identify the author of "The Affluent Society":
J.K.Galbraith
32 - Who wrote "A Contribution to the Theory of Trade Cycle"?
32 - Who wrote "A Contribution to the Theory of Trade Cycle"?
J.R.Hicks
33 - Which is the work of R.F.Harrod?
33 - Which is the work of R.F.Harrod?
The Gold Standard in Theory and Practice
34 - Who among the following Noble Prize winners is an American economist?
34 - Who among the following Noble Prize winners is an American economist?
Lawerence Klein
35 - "The General theory of Employment, Interest and Money" is the major work of:
35 - "The General theory of Employment, Interest and Money" is the major work of:
J.M.Keynes
36 - At which university was W.W.Leontief appointed Professor of Economics in 1946?
36 - At which university was W.W.Leontief appointed Professor of Economics in 1946?
University of Kiel
37 - Who among the following economists is not a Noble Prize winner?
37 - Who among the following economists is not a Noble Prize winner?
Joan Robinson
38 - Which of the following is not the work of Paul A.Samuelson?
38 - Which of the following is not the work of Paul A.Samuelson?
History of Economic Analysis
39 - In which year was Paul A. Samuelson awarded the Nobel Prize for Economics?
39 - In which year was Paul A. Samuelson awarded the Nobel Prize for Economics?
1970
40 - Identify the economist who first developed the Theory of Income Determination in its modern form:
40 - Identify the economist who first developed the Theory of Income Determination in its modern form:
J.M.Keynes
41 - How many economists were awarded the Nobel Prize for Economics in 1990?
41 - How many economists were awarded the Nobel Prize for Economics in 1990?
Three
42 - Which one of the following approaches to the definition of money gives the widest possible view of money?
42 - Which one of the following approaches to the definition of money gives the widest possible view of money?
Central bank approach
43 - The best example of representative full-bodied money is found in the 'gold certificates' which circulated in the U.S.A. before being withdrawn from circulation in:
43 - The best example of representative full-bodied money is found in the 'gold certificates' which circulated in the U.S.A. before being withdrawn from circulation in:
1933
44 - Which of the following is not a function of money?
44 - Which of the following is not a function of money?
Stabilization of price level
45 - Money has been defined as 'that by delivery of which debt contracts and price contracts are discharged, and in the the shape of which general purchasing power is held'. Whole definition is this?
45 - Money has been defined as 'that by delivery of which debt contracts and price contracts are discharged, and in the the shape of which general purchasing power is held'. Whole definition is this?
J.M.Keynes
46 - Fiat money refers to:
46 - Fiat money refers to:
Legal money
47 - Which one of the following is an example of quasi-money or near-money?
47 - Which one of the following is an example of quasi-money or near-money?
Bills of exchange
48 - When the commodity value of money and its value as money are equal, it is called:
48 - When the commodity value of money and its value as money are equal, it is called:
Full-bodied money
49 - The limited legal-tender money stands for the component of money which:
49 - The limited legal-tender money stands for the component of money which:
Is legal tender for payment upto a certain maximum amount
50 - As compared to the classical theory, which function of money was stressed more in the Keynesian theory?
50 - As compared to the classical theory, which function of money was stressed more in the Keynesian theory?
Store of value
51 - Bad money drives good money out of circulation. With whole name is this law associated?
51 - Bad money drives good money out of circulation. With whole name is this law associated?
Thomas Gresham
52 - Identify the country which was the first to adopt the gold standard:
52 - Identify the country which was the first to adopt the gold standard:
UK
53 - During which decade of the nineteenth century did most European countries adopt the gold standard?
53 - During which decade of the nineteenth century did most European countries adopt the gold standard?
Eighties
54 - When did the UK finally abandon the gold standard?
54 - When did the UK finally abandon the gold standard?
1931
55 - Who is generally regarded as the founder of the Modern Quantity Theory of Money?
55 - Who is generally regarded as the founder of the Modern Quantity Theory of Money?
Milton Friedman
56 - The Quantity Theory of Money establishes the relationship between quantity of money in an economy and the level of:
56 - The Quantity Theory of Money establishes the relationship between quantity of money in an economy and the level of:
Prices
57 - Identify Pigou's cash balances equation:
57 - Identify Pigou's cash balances equation:
M = KR/P
58 - In the Fisher's equation of exchange MV = PT, what does T denote?
58 - In the Fisher's equation of exchange MV = PT, what does T denote?
Volume of trade
59 - Cost-push inflation is caused by:
59 - Cost-push inflation is caused by:
Increase in the prices of inputs
60 - Who introduced the concept of the real balance effect?
60 - Who introduced the concept of the real balance effect?
A.C.Pigou
61 - Which of the following according to Milton Friedman is not a key determinant of the demand for money?
61 - Which of the following according to Milton Friedman is not a key determinant of the demand for money?
Precautionary motive
62 - The cash transactions approach to the quantity theory of money is usually associated with the name of:
62 - The cash transactions approach to the quantity theory of money is usually associated with the name of:
Irving Fisher
63 - The relationship between the market rate of interest and the market price of a bond is:
63 - The relationship between the market rate of interest and the market price of a bond is:
Inverse
64 - The degree of elasticity in respect of speculative demand for money, under the liquidity trap conditions, is:
64 - The degree of elasticity in respect of speculative demand for money, under the liquidity trap conditions, is:
Infinite
65 - A retail price index is a good measure of changes in:
65 - A retail price index is a good measure of changes in:
Consumers' cost of living
66 - Which of the following is not an instrument of monetary policy?
66 - Which of the following is not an instrument of monetary policy?
Taxation
67 - At a very low rate of interest, the interest-elasticity of the speculative demand for money becomes:
67 - At a very low rate of interest, the interest-elasticity of the speculative demand for money becomes:
Infinite
68 - The liquidity trap condition occurs at a:
68 - The liquidity trap condition occurs at a:
Very low rate of interest
69 - In which capacity does a person stand to gain from deflation?
69 - In which capacity does a person stand to gain from deflation?
As a pensioner
70 - According to the classical approach, the demand for money primarily depends upon:
70 - According to the classical approach, the demand for money primarily depends upon:
Economic transactions
71 - Which of the following measures is helpful in controlling inflation?
71 - Which of the following measures is helpful in controlling inflation?
All of the above
72 - During the period of hyper-inflation, there takes place astronomical rise in prices and, as a result, money becomes almost worthless. Such a situation was witnessed in Germany in 1923 and in China in:
72 - During the period of hyper-inflation, there takes place astronomical rise in prices and, as a result, money becomes almost worthless. Such a situation was witnessed in Germany in 1923 and in China in:
1949
73 - Stagflation refers to a situation which is characterised by:
73 - Stagflation refers to a situation which is characterised by:
Sustained price-rise and rising unemployment
74 - The first explanation of stagflation was offered originally in 1931 by:
74 - The first explanation of stagflation was offered originally in 1931 by:
Friedrich A.von Hayek
75 - The reduction or elimination of inflation is known as:
75 - The reduction or elimination of inflation is known as:
Disinflation
76 - Which of the following is not a function of a commercial bank?
76 - Which of the following is not a function of a commercial bank?
Banker to the Government
77 - Which of the following is not a liability of commercial banks?
77 - Which of the following is not a liability of commercial banks?
Security holdings
78 - Which is not a function of the central bank of a country?
78 - Which is not a function of the central bank of a country?
Supervisor of nation's fiscal policy
79 - Under the unit banking system, each individual bank is a separate entity having its own independent management and board of directors. Which country is generally regarded as the home of the unit banking system?
79 - Under the unit banking system, each individual bank is a separate entity having its own independent management and board of directors. Which country is generally regarded as the home of the unit banking system?
USA
80 - The branch banking system is currently in vogue in most countries of the world. Identify the country where it first developed:
80 - The branch banking system is currently in vogue in most countries of the world. Identify the country where it first developed:
UK
81 - The china banking system a variant of the group banking system, developed around the mid-nineteenth century and reaching the apex of popularity in the present century. In which country did it develop?
81 - The china banking system a variant of the group banking system, developed around the mid-nineteenth century and reaching the apex of popularity in the present century. In which country did it develop?
USA
82 - In which country was the instrument of minimum legal cash reserves ratio for banks first introduced?
82 - In which country was the instrument of minimum legal cash reserves ratio for banks first introduced?
USA
83 - Which of the following is not a part of the un-organised Indian money market?
83 - Which of the following is not a part of the un-organised Indian money market?
Co-operative credit societies
84 - Which one of the following will reduce the capacity of commercial banks to lend?
84 - Which one of the following will reduce the capacity of commercial banks to lend?
Sales of securities in the open market by the central bank
85 - If there is a significant decrease in the demand for loans, banks will be forced to:
85 - If there is a significant decrease in the demand for loans, banks will be forced to:
Adjust their protfolios
86 - Open market operations refer to the buying and selling of:
86 - Open market operations refer to the buying and selling of:
Government securities
87 - Bank rate refer to the interest rate at which:
87 - Bank rate refer to the interest rate at which:
Central bank gives loans to commercial banks
88 - The immediate effect of credit-creation by banks is:
88 - The immediate effect of credit-creation by banks is:
Increase in money supply
89 - Selective credit control devices are used by the central bank of a country to:
89 - Selective credit control devices are used by the central bank of a country to:
Control the flow of aggregate bank credit to different productive activities in the economy
90 - In a bimetallic standard:
90 - In a bimetallic standard:
All of the above
91 - One of the following is an instrument of qualitative credit control. Identify it:
91 - One of the following is an instrument of qualitative credit control. Identify it:
Credit rationing
92 - Which of the following is an instrument of quantitative credit control?
92 - Which of the following is an instrument of quantitative credit control?
Variable reserve ratio
93 - Arrange the following assets of a bank in the ascending order of income (i.e. in the descending order of liquidity): I-Bills; II-Loans; III-In-vestments in Government and other approved securities
93 - Arrange the following assets of a bank in the ascending order of income (i.e. in the descending order of liquidity): I-Bills; II-Loans; III-In-vestments in Government and other approved securities
I,III,II
94 - Which of the following is not an item on the assets side of the balance sheet of a commercial bank?
94 - Which of the following is not an item on the assets side of the balance sheet of a commercial bank?
Reserves
95 - Commercial banks have always to face a conflict between:
95 - Commercial banks have always to face a conflict between:
Liquidity and profitability
96 - The main function of legal cash reserve requirements is to:
96 - The main function of legal cash reserve requirements is to:
Influence the demand deposit-creating power of commercial banks
97 - Since when has the Reserve Bank of India been successfully operating the instrument of selective credit control in this country?
97 - Since when has the Reserve Bank of India been successfully operating the instrument of selective credit control in this country?
1956
98 - Identify the country, which first employed credit rationing as an instrument of credit control:
98 - Identify the country, which first employed credit rationing as an instrument of credit control:
France
99 - The 'terms of trade' refer to:
99 - The 'terms of trade' refer to:
Ratio of the index of export prices to the index of import prices.
100 - By which year had the gold standard virtually disappeared from the world as an international monetary system?
100 - By which year had the gold standard virtually disappeared from the world as an international monetary system?
1936
101 - The market for very short term loans is known as:
101 - The market for very short term loans is known as:
Money market
102 - If the increase in exports exceeds the increase in imports, and other things remain the same, then the level of income will:
102 - If the increase in exports exceeds the increase in imports, and other things remain the same, then the level of income will:
Rise
103 - Which of the following was not favoured by the mercantilists?
103 - Which of the following was not favoured by the mercantilists?
Free trade
104 - Of the following concepts of term of trade, which one was introduced by F.W. Taussig?
104 - Of the following concepts of term of trade, which one was introduced by F.W. Taussig?
Commodity terms of trade
105 - Dynamic factors in the realm of international trade theory relate to changes in:
105 - Dynamic factors in the realm of international trade theory relate to changes in:
All of the above
106 - The devaluation of currency by a country is designed to lead to:
106 - The devaluation of currency by a country is designed to lead to:
All of these
107 - What would be the impact on the country's balance of payments position, when in the context of inflationary pressures recourse is taken to expenditure reducing policies?
107 - What would be the impact on the country's balance of payments position, when in the context of inflationary pressures recourse is taken to expenditure reducing policies?
Favourable
108 - Which of the following items in the balance of payments is invisible?
108 - Which of the following items in the balance of payments is invisible?
Foreign travel
109 - If the elasticity of foreign demand for the country's exports is unity, the supply curve of foreign exchange will be:
109 - If the elasticity of foreign demand for the country's exports is unity, the supply curve of foreign exchange will be:
Vertical
110 - A deficit disequilibrium in the balance of payments can be corrected through:
110 - A deficit disequilibrium in the balance of payments can be corrected through:
All of the above
111 - The spot and forward markets in foreign exchange are linked to each other through:
111 - The spot and forward markets in foreign exchange are linked to each other through:
All of the above
112 - What does the modern theory of international trade predict regarding difference in factor prices between nations on account of trade? The difference:
112 - What does the modern theory of international trade predict regarding difference in factor prices between nations on account of trade? The difference:
Diminishes
113 - The multiple exchange rates were first employed by:
113 - The multiple exchange rates were first employed by:
Germany
114 - Which of the following statements is not correct?
114 - Which of the following statements is not correct?
Devaluation can have only temporary effects and it may provoke other countries to retaliate
115 - Under the flexible exchange rate system, the exchange rate is determined by:
115 - Under the flexible exchange rate system, the exchange rate is determined by:
The forces of demand and supply in the foreign exchange market
116 - The elasticity of demand for foreign exchange for financing capital outflow is:
116 - The elasticity of demand for foreign exchange for financing capital outflow is:
Zero
117 - The foreign exchange market performs the function of:
117 - The foreign exchange market performs the function of:
All of the above
118 - According to the Heckscher-Ohlin theory of international trade the most important cause of differences in relative commodity pries and trade between nations is the differences in:
118 - According to the Heckscher-Ohlin theory of international trade the most important cause of differences in relative commodity pries and trade between nations is the differences in:
Factor endowments
119 - On which of the following is the law of comparative costs based?
119 - On which of the following is the law of comparative costs based?
Labour theory of value
120 - Which among the following, is not an assumption of the classical - territory of comparative cost advantage?
120 - Which among the following, is not an assumption of the classical - territory of comparative cost advantage?
Production takes place under diminishing returns
121 - Developing countries usually complain of:
121 - Developing countries usually complain of:
All of the above
122 - Adam Smith's views on world trade can be best understood if one considers them as a reaction to:
122 - Adam Smith's views on world trade can be best understood if one considers them as a reaction to:
Ricardo's views on trade
123 - What proportion of international trade is based on absolute differences in costs of production?
123 - What proportion of international trade is based on absolute differences in costs of production?
Substantial
124 - Business can be defined as:
124 - Business can be defined as:
Trade, commerce and industry
125 - What can be the maximum number of partners in a partnership firm?
125 - What can be the maximum number of partners in a partnership firm?
20
126 - Which form of business organisation would be most suitable for a capital intensive business?
126 - Which form of business organisation would be most suitable for a capital intensive business?
Joint-stock company
127 - According to the systems approach, a system is the:
127 - According to the systems approach, a system is the:
Orderly arrangement of its components in a coordinated manner
128 - A business organistion has constant and invisible interaction with its:
128 - A business organistion has constant and invisible interaction with its:
External environment
129 - The asset limit above which a company or group would be covered under the MRTP in India for concentration of economic power is:
129 - The asset limit above which a company or group would be covered under the MRTP in India for concentration of economic power is:
Rs 100 crore
130 - Which one of the following refers to 'factoring services'?
130 - Which one of the following refers to 'factoring services'?
Guaranteeing realisation from debtors
131 - A consumer complaint is registered by the MRTP Commission in India on a complaint made by at least:
131 - A consumer complaint is registered by the MRTP Commission in India on a complaint made by at least:
25 consumers
132 - Vertical combination implies:
132 - Vertical combination implies:
Integration of enterprises engaged in different stages of production of a particular product
133 - An indirect tax is one where:
133 - An indirect tax is one where:
Points of impact and incidence are different
134 - Which one of the following is an example of indirect tax?
134 - Which one of the following is an example of indirect tax?
Sales tax
135 - The incidence of tax refers to:
135 - The incidence of tax refers to:
One who bears the ultimate money burden of the tax
136 - Who is generally regarded as the father of modern management?
136 - Who is generally regarded as the father of modern management?
Henry Fayol
137 - The term Managerical Rovolution refers to the prediction that with the expansion in size of business units, world affairs will eventually be in the hands of a few powerful managers. Who made use of this term?
137 - The term Managerical Rovolution refers to the prediction that with the expansion in size of business units, world affairs will eventually be in the hands of a few powerful managers. Who made use of this term?
J.Burnham
138 - The principle of scientific management implies:
138 - The principle of scientific management implies:
Replacement of rules of thumb by scientific principles of management
139 - Objectives in the context of management may be defined as:
139 - Objectives in the context of management may be defined as:
The end result, which an organisation tries to attain
140 - The two key factors in 'management by objectives' are:
140 - The two key factors in 'management by objectives' are:
Democratic goal-setting and verifiable objectives
141 - An informal organisation is one where:
141 - An informal organisation is one where:
The structure is not prescribed by formal authority
142 - The first level of needs in Maslow's 'need hierarchy is:
142 - The first level of needs in Maslow's 'need hierarchy is:
Physiological needs
143 - Planning and control are related in such a way that:
143 - Planning and control are related in such a way that:
Both go hand-in-hand with each other in a cyclical manner
144 - Communication is complete when the:
144 - Communication is complete when the:
Message is received and understood by the receiver
145 - A private company must have at least:
145 - A private company must have at least:
2 members
146 - Unless the Articles of Association otherwise provide, the quorum for a general meeting of a public company is:
146 - Unless the Articles of Association otherwise provide, the quorum for a general meeting of a public company is:
Five members personally present
147 - A Special resolution is one, which is passed in a general meeting by:
147 - A Special resolution is one, which is passed in a general meeting by:
Three-fourth majority of votes
148 - A share warrant can be issued by:
148 - A share warrant can be issued by:
Public companies only
149 - What is the minimum number of shareholders necessary for a public company?
149 - What is the minimum number of shareholders necessary for a public company?
7
150 - The share capital of a company refers to:
150 - The share capital of a company refers to:
Equity and preference share capital
151 - Within how many days of the declaration of divident must divident warrants be posted to shareholders?
151 - Within how many days of the declaration of divident must divident warrants be posted to shareholders?
42 days
152 - In which year was the Indian Contract Act passed?
152 - In which year was the Indian Contract Act passed?
1872
153 - Any agreement by a minor which is beneficial to him is a:
153 - Any agreement by a minor which is beneficial to him is a:
Valid contract
154 - The liability of partners in a partnership firm is:
154 - The liability of partners in a partnership firm is:
Joint and several
155 - What is the maximum number of partners necessary in a partnership firm carrying on banking business?
155 - What is the maximum number of partners necessary in a partnership firm carrying on banking business?
5
156 - The suit for specific performance in case of breach of contract may be filed only where the subject matter relates to:
156 - The suit for specific performance in case of breach of contract may be filed only where the subject matter relates to:
Immovable property
157 - Which one of the following is a void agreement?
157 - Which one of the following is a void agreement?
Agreement in restraint of trade
158 - Crossing a cheque 'Not Negotiable' affords security against:
158 - Crossing a cheque 'Not Negotiable' affords security against:
The ft of cheque
159 - Non-registration of a partnership does not affect the:
159 - Non-registration of a partnership does not affect the:
Suit by third parties against the firm
160 - Organisation Theory is concerned with the:
160 - Organisation Theory is concerned with the:
Study to explain the nature and composition of organisations as a social or human group
161 - With which of following is Behavioural Science in management related?
161 - With which of following is Behavioural Science in management related?
Scientific study of human behaviour
162 - Job-enrichment means:
162 - Job-enrichment means:
Change or variation of job after a time perior
163 - An organisation structure refers to the:
163 - An organisation structure refers to the:
Flow of authority and responsibility
164 - Finance is concerned with:
164 - Finance is concerned with:
All of the above
165 - Current Ratio is the ratio of:
165 - Current Ratio is the ratio of:
Current assets to current liabilities
166 - Debt Equity Ratio refers to the ratio of:
166 - Debt Equity Ratio refers to the ratio of:
Long term debt to shareholders' equity
167 - Trading on eqrity' means:
167 - Trading on eqrity' means:
Use of fixed-interest borrowed funds for getting a higher return on equity
168 - Cost of goods sold refers to:
168 - Cost of goods sold refers to:
Sales minus gross profits
169 - In the pay back period method of capital budgeting, investment is divided by:
169 - In the pay back period method of capital budgeting, investment is divided by:
Constant annual cash flow
170 - The relationship between EBIT and EPS gives:
170 - The relationship between EBIT and EPS gives:
Financial leverage
171 - Break-even-point is a situation where:
171 - Break-even-point is a situation where:
There is no profit no loss
172 - Under-capitalisation refers to a situation where:
172 - Under-capitalisation refers to a situation where:
The capital base does not justify the amount of earnings made and needs to be enhanced
173 - A schedule of balances drawn from the ledger is called:
173 - A schedule of balances drawn from the ledger is called:
A trial balance
174 - Goodwill of a firm represents:
174 - Goodwill of a firm represents:
Intangible assets
175 - A bank account is a:
175 - A bank account is a:
Personal account
176 - Prepaid expenses appearing in a trial balance will figure in the:
176 - Prepaid expenses appearing in a trial balance will figure in the:
Balance sheet
177 - Sale of old furniture on credit will appear in the:
177 - Sale of old furniture on credit will appear in the:
Journal
178 - The excess of current assets over current liabilities is called:
178 - The excess of current assets over current liabilities is called:
Working capital
179 - Depreciation is the process of:
179 - Depreciation is the process of:
Allocation of costs
180 - What is the objective of cost accounting?
180 - What is the objective of cost accounting?
All of the above
181 - What is Conersion Cost?
181 - What is Conersion Cost?
Cost of transforming direct materials into finished products
182 - In an integrated costing system, most of the data relevant to cost accounting comes from the:
182 - In an integrated costing system, most of the data relevant to cost accounting comes from the:
Financial accounting system
183 - Which method of costing is used by sugar mills?
183 - Which method of costing is used by sugar mills?
Process costing
184 - Premium on redemption of debentures is accounted for in the:
184 - Premium on redemption of debentures is accounted for in the:
Personal account
185 - After debentures are redeemed, the balance in the sinking fund account is transferred to:
185 - After debentures are redeemed, the balance in the sinking fund account is transferred to:
General reserve
186 - To the extent redemption of preferece shares takes place out of profits, an equal amount has to be transferred to:
186 - To the extent redemption of preferece shares takes place out of profits, an equal amount has to be transferred to:
Capital redemption reserve
187 - When shares are forfeited, the share capital account is debited by:
187 - When shares are forfeited, the share capital account is debited by:
Called-up-amount
188 - The profit on re-issuing forfeited shares is transferred to:
188 - The profit on re-issuing forfeited shares is transferred to:
Capital reserve
189 - The share application account is a:
189 - The share application account is a:
Personal account
190 - The excess of purchase price over net assets is:
190 - The excess of purchase price over net assets is:
Goodwill
191 - In the balance sheet of a company, the items goodwill, patents and trade marks are shown under the heading:
191 - In the balance sheet of a company, the items goodwill, patents and trade marks are shown under the heading:
Fixed assets
192 - A preliminary expense is a:
192 - A preliminary expense is a:
Fictitious asset
193 - Divisible profits do not include:
193 - Divisible profits do not include:
Profit on revaluation of assets
194 - Advance payment of tax should be shown on the:
194 - Advance payment of tax should be shown on the:
Assets side of a balance sheet
195 - Dividends are usually paid on the:
195 - Dividends are usually paid on the:
Paid-up capital
196 - Which of the following is not concerned with the valuation of goodwill?
196 - Which of the following is not concerned with the valuation of goodwill?
Earning capacity method
197 - When two or more companies dissolve to form a new company, the process is known as:
197 - When two or more companies dissolve to form a new company, the process is known as:
Amalgamation
198 - Absorption is said to take place when:
198 - Absorption is said to take place when:
Two or more companies dissolve to be taken over by a existing company
199 - For calculating market value using P/E ratios, it is necessary to know:
199 - For calculating market value using P/E ratios, it is necessary to know:
Earnings per share and market price of the share
200 - The relationship between normal rate of return and P/E ratio is:
200 - The relationship between normal rate of return and P/E ratio is:
Inverse
201 - For a company to carry out capital reduction, permission is required from the:
201 - For a company to carry out capital reduction, permission is required from the:
Competent Court
202 - Any balance in the capital reduction account after writing off lost capital is tansferred to:
202 - Any balance in the capital reduction account after writing off lost capital is tansferred to:
Capital reserve
203 - In a scheme of reorganization, the amount of shares surrendered by shareholders is transferred to the:
203 - In a scheme of reorganization, the amount of shares surrendered by shareholders is transferred to the:
Capital reduction account
204 - Amounts sacrificed by shareholders are credited to the:
204 - Amounts sacrificed by shareholders are credited to the:
Capital reduction account
205 - At the commencement of winding up, a contributory is a:
205 - At the commencement of winding up, a contributory is a:
Shareholder
206 - The shareholding of the government in a government company must be at least:
206 - The shareholding of the government in a government company must be at least:
0.51
207 - Which of the following is an economic activity?
207 - Which of the following is an economic activity?
Medical facilities rendered by a charitable dispensary
208 - Which of the following is closest to the concept of economic production?
208 - Which of the following is closest to the concept of economic production?
Addition to the value of commodities
209 - Which of the following is a characteristic feature of a modern economy?
209 - Which of the following is a characteristic feature of a modern economy?
Diversity in production of commodities
210 - Identify economic stock from among the following:
210 - Identify economic stock from among the following:
Bank deposit of a household
211 - Which of the following is an economic flow?
211 - Which of the following is an economic flow?
Demand for machinery
212 - A closed economy is one which:
212 - A closed economy is one which:
Does not trade with other countries
213 - The traditional economy is characterised by:
213 - The traditional economy is characterised by:
Organisation of production for self-consumption
214 - Who among the following is a non-resident of India?
214 - Who among the following is a non-resident of India?
A person of Indian origin working at the World Bank, Washington, DC
215 - Purchase of a ceiling fan by a household is treted in national income accounting as a part of:
215 - Purchase of a ceiling fan by a household is treted in national income accounting as a part of:
Consumption at the time of its purchase
216 - Corporate enterprises refer to:
216 - Corporate enterprises refer to:
Business houses that are independent of their owners
217 - Which of the following is not a corporate enterprise?
217 - Which of the following is not a corporate enterprise?
Municipal Corporation of Delhi
218 - Departmental enterprises are a part of the:
218 - Departmental enterprises are a part of the:
General government
219 - Which of the following is a departmental enterprise of the Government of India?
219 - Which of the following is a departmental enterprise of the Government of India?
Indian Railways
220 - In which of the following sectors does production for self-consumption generally take place?
220 - In which of the following sectors does production for self-consumption generally take place?
House-holds
221 - Subsistence production refers to:
221 - Subsistence production refers to:
Production for self-consumption only
222 - Collective wants include:
222 - Collective wants include:
Defence of a country
223 - Which of the following are durable use producer-goods?
223 - Which of the following are durable use producer-goods?
Tractors
224 - Demand for intermediate consumption arises in:
224 - Demand for intermediate consumption arises in:
All producing sectors of the economy
225 - Expenditure on the purchase of new replacement parts of machinery installed by a firm is part of:
225 - Expenditure on the purchase of new replacement parts of machinery installed by a firm is part of:
Intermediate consumption
226 - Which of the following is an expenditure on intermediate consumption?
226 - Which of the following is an expenditure on intermediate consumption?
Purchase of coal by a steel factory
227 - Demand for final consumption arises in:
227 - Demand for final consumption arises in:
Both (a) & (b)
228 - Which of the following activities of a farmer is an example of intermediate consumption?
228 - Which of the following activities of a farmer is an example of intermediate consumption?
Electricity charges for operating a pump
229 - Imputed rental value of owner occupied dwellings is a part of:
229 - Imputed rental value of owner occupied dwellings is a part of:
Final consumption
230 - Sale of old newspapers by a household is a part of:
230 - Sale of old newspapers by a household is a part of:
Net final consumption expenditure of the household
231 - Which of the following constitutes a part of domestic fixed capital formation?
231 - Which of the following constitutes a part of domestic fixed capital formation?
Net purchase of second-hand physical assets from abroad
232 - Purchases made by the US Embassy in India are part of:
232 - Purchases made by the US Embassy in India are part of:
Exports from India to the USA
233 - Direct purchases abroad made by the government on current account are a part of:
233 - Direct purchases abroad made by the government on current account are a part of:
Final consumption
234 - Which of the following is not a part of net investment in an economy?
234 - Which of the following is not a part of net investment in an economy?
Purchase of old shares
235 - Which of the following is included in the consumption of fixed capital?
235 - Which of the following is included in the consumption of fixed capital?
Normal wear and tear machinery while in use
236 - Gross domestic fixed-capital formation does not include:
236 - Gross domestic fixed-capital formation does not include:
Net purchase of second hand machinery by private corporate sector from Government
237 - Value of output differs from the value added by the amount of:
237 - Value of output differs from the value added by the amount of:
Intermediate consumption
238 - The gross fixed investment in an economy during a year is Rs. 200 Crore. The economy possessed Rs 1200 Crore worth of fixed capital at the beginning of the year and the rate of depreciation is 10% per annum. What is the net value of fixed capital stock h
238 - The gross fixed investment in an economy during a year is Rs. 200 Crore. The economy possessed Rs 1200 Crore worth of fixed capital at the beginning of the year and the rate of depreciation is 10% per annum. What is the net value of fixed capital stock h
Rs 1280 crore
239 - In consumption of capital is equal to gross fixed investment, then:
239 - In consumption of capital is equal to gross fixed investment, then:
Net investment is zero
240 - Which of the following constitutes an investment by a household?
240 - Which of the following constitutes an investment by a household?
Purchasing a new house
241 - Net value added is equal to:
241 - Net value added is equal to:
Payments accruing to factors of production
242 - Addition to the stocks of food grains by the Food Corporation of India is a part of:
242 - Addition to the stocks of food grains by the Food Corporation of India is a part of:
Gross capital formation
243 - Mixed income of the self-employed means:
243 - Mixed income of the self-employed means:
Combined factor payments which are not distinguishable
244 - Operating surplus implies:
244 - Operating surplus implies:
Net income from property and entrepreneurship
245 - Operating surplus arises in:
245 - Operating surplus arises in:
All producing enterprises in the corporate sector
246 - Operating surplus differs from net value added by the amount of:
246 - Operating surplus differs from net value added by the amount of:
Compensation of employees
247 - Which of the following is not a part of the compensation of employees?
247 - Which of the following is not a part of the compensation of employees?
Payments made to visiting foreign consultant
248 - Identify the item, which is not a factor payment:
248 - Identify the item, which is not a factor payment:
Scholarships given to scheduled caste students
249 - Which of the following is an example of factor-income from abroad?
249 - Which of the following is an example of factor-income from abroad?
Profits earned by a branch of the State Bank of India in London
250 - Transfer payments refer to payments which are made:
250 - Transfer payments refer to payments which are made:
Without any exchange of goods and services
251 - Personal disposable income is:
251 - Personal disposable income is:
Equal to personal income minus direct taxes paid by household
252 - If during a year the national income at constant prices goes up by 5%, while prices also rise by 5% and population registers a growth of 2%; then the real per capita income will:
252 - If during a year the national income at constant prices goes up by 5%, while prices also rise by 5% and population registers a growth of 2%; then the real per capita income will:
Increase by 3%
253 - National income estimates of India are published both at current and constant prices. What is the base year for constant price estimates published at present?
253 - National income estimates of India are published both at current and constant prices. What is the base year for constant price estimates published at present?
1980-81
254 - The national income accojnts, direct personal taxes are recorded as:
254 - The national income accojnts, direct personal taxes are recorded as:
Receipts of the government sector and payments of the household sector
255 - For which of the following sectors is the income method used for estimation of national income of Pakistan?
255 - For which of the following sectors is the income method used for estimation of national income of Pakistan?
Banking and insurance
256 - Identify the sector in respect of which the expenditure method is used for estimating national income in India:
256 - Identify the sector in respect of which the expenditure method is used for estimating national income in India:
Construction
257 - If GNP at market prices is Rs 1200 crore, and fixed capital stock is worth Rs 2000 crore which depreciates at the rate of 10% per annum and the net indirect taxes amount is Rs 150 crore. What is the national income?
257 - If GNP at market prices is Rs 1200 crore, and fixed capital stock is worth Rs 2000 crore which depreciates at the rate of 10% per annum and the net indirect taxes amount is Rs 150 crore. What is the national income?
Rs 850 crore
258 - National income differs from the net national product at market prices by the amount of:
258 - National income differs from the net national product at market prices by the amount of:
It does not differ
259 - If net factor income from abroad is zero, then:
259 - If net factor income from abroad is zero, then:
National product is constant
260 - For the estimation of private income which of the following items has to be added to national income?
260 - For the estimation of private income which of the following items has to be added to national income?
Interest on national debt
261 - While estimating personal income from national income, which of the following items need to be deducted?
261 - While estimating personal income from national income, which of the following items need to be deducted?
Direct Taxes paid by households
262 - Which of the following has to be added to national income to obtain the net national disposable income?
262 - Which of the following has to be added to national income to obtain the net national disposable income?
Loans from public
263 - Net national product at factor cost is :
263 - Net national product at factor cost is :
Equal to national income
264 - Which of the following is deducted while estimating national income by the value-added method?
264 - Which of the following is deducted while estimating national income by the value-added method?
Consumption of capital
265 - While estimating national income by the income method one of the following is not included. Identify it:
265 - While estimating national income by the income method one of the following is not included. Identify it:
Inheritance tax or death duty
266 - Which of the following is not included while estimating national income by the expenditure methods?
266 - Which of the following is not included while estimating national income by the expenditure methods?
Net indirect tax
267 - The difference between net national product at market prices and net domestic product at market prices is equal to:
267 - The difference between net national product at market prices and net domestic product at market prices is equal to:
Net factor income from abroad
268 - Which of the following accounts for the difference between net domestic product at market prices and national income?
268 - Which of the following accounts for the difference between net domestic product at market prices and national income?
Net factor income from abroad minus indirect taxes
269 - Which of the following has to be deducted from the value of output to arrive at the net value added by a producing enterprise?
269 - Which of the following has to be deducted from the value of output to arrive at the net value added by a producing enterprise?
All of the above
270 - The value added method of measuring national income is also known as:
270 - The value added method of measuring national income is also known as:
All of the above
271 - Net borrowings from abroad are a part of:
271 - Net borrowings from abroad are a part of:
Gross investment
272 - Aggregate gross receipts means:
272 - Aggregate gross receipts means:
Turnover value of output
273 - The term national income commonly refers to:
273 - The term national income commonly refers to:
NNP at factor cost
274 - Which of the following is an example of transfer payment by the Government?
274 - Which of the following is an example of transfer payment by the Government?
National debt interest
275 - Transfer receipts of the Government include:
275 - Transfer receipts of the Government include:
Direct and indirect taxes
276 - Which one is an example of capital transfer within a country?
276 - Which one is an example of capital transfer within a country?
Compensation to residents whose houses have been damaged by floods
277 - Net retained earnings abroad means:
277 - Net retained earnings abroad means:
Net undistributed profits of resident and non-resident companies
278 - Which of the following is not an example of capital transfers between countries?
278 - Which of the following is not an example of capital transfers between countries?
Gifts for cyclone victims
279 - Interest on public debt is a part of:
279 - Interest on public debt is a part of:
Transfer payments by the government
280 - Which of the following is not a government transfer payment to households?
280 - Which of the following is not a government transfer payment to households?
Subsidy
281 - Income from property is a part of:
281 - Income from property is a part of:
Operating surplus
282 - Unilateral payments are known as:
282 - Unilateral payments are known as:
Transfer payments
283 - Identify the correct statement:
283 - Identify the correct statement:
Personal disposable income excludes direct taxes paid by households
284 - Which of the following includes interest on national debt?
284 - Which of the following includes interest on national debt?
Personal income
285 - Which of the following is incorrect?
285 - Which of the following is incorrect?
None of the above
286 - The first estimate of national income in India was made by Dadabhai Naoroji for the year:
286 - The first estimate of national income in India was made by Dadabhai Naoroji for the year:
1867-68
287 - Domestic incomes refer to incomes which are generated:
287 - Domestic incomes refer to incomes which are generated:
By all the producers within the geographical territory of the country
288 - If the general price level goes up by 12% and national income at constant prices increases by 3%, then the national income at current prices:
288 - If the general price level goes up by 12% and national income at constant prices increases by 3%, then the national income at current prices:
Increase by 15%
289 - Gross domestic product differs from net domestic product by the amount of:
289 - Gross domestic product differs from net domestic product by the amount of:
Consumption of fixed capital
290 - Which of the following is generally regarded as the true index of economic growth?
290 - Which of the following is generally regarded as the true index of economic growth?
A sustained increase in real per capita income
291 - The concept of economic growth is:
291 - The concept of economic growth is:
Narrower than the concept of economic development
292 - Which of the following is not an indicator of economically underdeveloped countries?
292 - Which of the following is not an indicator of economically underdeveloped countries?
Low proportion of labour force in the primary sector
293 - The rate of growth of an economy mainly depends upon:
293 - The rate of growth of an economy mainly depends upon:
All of the above
294 - Among the following determinants of growth, which is a non-economic factor?
294 - Among the following determinants of growth, which is a non-economic factor?
Favourable legislation
295 - Besides increase in output, economic development is concerned with:
295 - Besides increase in output, economic development is concerned with:
All of the above
296 - The stationary state as envisaged by Adam Smith, is marked by:
296 - The stationary state as envisaged by Adam Smith, is marked by:
All of the above
297 - Which of the following is inconsistent with Adam Smith's theory of development?
297 - Which of the following is inconsistent with Adam Smith's theory of development?
There is no limit to the growth process
298 - The division of labour, according to Adam Smith, is limited by:
298 - The division of labour, according to Adam Smith, is limited by:
Both (a) and (b)
299 - Among the various determinants of the growth of national wealth Adam Smith accorded central place to:
299 - Among the various determinants of the growth of national wealth Adam Smith accorded central place to:
Division of labour
300 - Who put forward the theory of social dualism?
300 - Who put forward the theory of social dualism?
J.H.Boeke
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