PSC HSST Economics SR for SC/ST Model Questions and Answers

Last Updated On: 30/04/2018

76. The flagship programme to enhance livelihood security of households by providing guaranteed wage employment for at least one hundred days
Answer: C

77. Among the following, the excluded item from the currency component of money supply (`M_(1)` ) in India
(A) Circulation of rupee coins
(B) Circulation of small coins
(C) Demand deposit of the public
(D) Cash held by commercial banks
Answer: D

78. The committee which was appointed in 1991 to examine the structure, organization, function and procedures of the financial system in India
(A) Kelkar Committee
(B) Raja J. Chelliah Committee
(C) Narasimham Committee
(D) K. N. Raj Committee
Answer: C

79. The Securities and Exchange Board of India (SEBI) was established in the year
(A) 1964
(B) 1988
(C) 1991
(D) 1994
Answer: B

80. The term vertical imbalance in fiscal federalism implies
(A) The financial imbalance between the Centre and the States
(B) The imbalance in the distribution of resources between developed and less developed States
(C) The imbalance in the distribution of financial resources among the poor States
(D) The financial imbalance between developed and less developed regions
Answer: A

81. The new classical theory of business cycle argues that
(A) Economic fluctuations are generated by natural factors in the economy
(B) Large variations in the level of output and employment are caused by political decisions
(C) Economic fluctuations are responses to uncertainty in the rate of technological progress
(D) None of these
Answer: C

82. The term ‘saltwater’ has been used to represent the approaches of
(A) New Keynesians
(B) New Classicals
(C) Orthodox Keynesians
(D) Neo-Classicals
Answer: A

83. The insider-outsider models seek to explain
(A) Why workers need to be motivated and machines do not
(B) What forms the economic glue that keeps workers and firms together in the labour market
(C) That it is not in firms interest to lower real wages because real wages and worker effort are interdependent
(D) Why wage rigidity persists in the face of involuntary unemployment
Answer: D

84. Euro dollar deposit in the Euro currency market means
(A) A time deposit denominated in dollar and made with a bank of United States
(B) A time deposit denominated in dollar but made with a bank outside the United States
(C) A time deposit in terms of both Euro and Dollar
(D) A shadow currency deposit for transaction between Europe and U.S.
Answer: B

85. The main objective of the Targeted Public Distribution System (TPDS) introduced recently in India is
(A) To direct subsidy to the families of BPL
(B) To provide subsidies to both BPL and APL
(C) To widen the coverage of PDS
(D) Integration of PDS with open market
Answer: A

86. For a square matrix A there exists an inverse only if
(A) A is symmetric
(B) A is skew symmetric
(C) A is singular
(D) A is non singular
Answer: D

87. For the demand function X = `27/P^(3)` , the elasticity of demand is
(A) `P^(2)`
(B) 1
(C) 3
(D) `-27/P^(4)`
Answer: C

88. For a highly heterogeneous population we use
(A) Stratified sampling
(B) Simple random sampling
(C) Cluster sampling
(D) Systematic sampling
Answer: A

89. The two lines of regression are given as x + 2y – 5 = 0 and 2x + 3y = 8 then the mean values of x and y respectively are
(A) 2, 1
(B) 1, 2
(C) 2, 5
(D) 2, 3
Answer: B

90. In the simultaneous tossing of two perfect dice, the probability of obtaining 4 as the sum of the resultant faces is
(A) `(4)/(12)`
(B) `(1)/12`
(C) `(3)/(12)`
(D) `(2)/(12)`
Answer: B

91. Let Ø be an unknown parameter and `T_(1)` be an unbiased estimator of Ø. If Var (`T_(1)`)<Var (“`T_(2)`), for `T_(2)` to be any other unbiased estimator, then `T_(1)` is known as
(A) Minimum variance unbiased estimator
(B) Unbiased and efficient estimator
(C) Consistent and efficient estimator
(D) Unbiased and consistent estimator
Answer: A

92. While testing the significance of the difference of two sample means in case of small samples, we use
(A) `chi2` test
(B) F test
(C) T test
(D) Normal test
Answer: C

93. A market with a single buyer is called
(A) Monopsony
(B) Monopoly
(C) Duopoly
(D) Duopsony
Answer: A

94. The evaluative report of the economy being presented in the Parliament prior to the presentation of union budget by the Finance Minister
(A) Economic review
(B) Economic out look
(C) Economic survey
(D) Economic report
Answer: C

95. Substitution effect is positive but income effect is negative for
(A) Luxury goods
(B) Free goods
(C) Exported goods
(D) Inferior goods
Answer: D

96. According to inter temporal substitution model, workers will substitute work for leisure if
(A) There is unemployment in the market
(B) The increase in the wage rate is only temporary
(C) The marginal utility of work is equal to leisure
(D) None of these
Answer: B

97. The stage theory of growth was postulated by
(A) W. W. Rostow
(B) Simon Kuznet
(C) Arthur Lewis
(D) H. O. Hirschman
Answer: A

98. Laffer Curve is related to
(A) Multi firm equilibrium
(B) Supply side economics
(C) Break even analysis
(D) Disequilibrium in the labour market
Answer: B

99. According to 2015 report, the global position of India in the consumption of oil is
(A) First
(B) Second
(C) Third
(D) Fourth
Answer: C

100. The term inside trading applies to
(A) Foreign trade market
(B) Domestic product market
(C) Factor market
(D) Share market
Answer: D

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