Note : This paper contains fifty (50) objective type questions, each question carrying two (2) marks. Attempt all the questions.
1. In the case of an inferior commodity, the income elasticity of demand is
(A) Positive (B) Unitary
(C) Negative (D) Infinity
2. The slope of the iso-cost line is determined by
(A) Prices of the two factors
(B) Productivity of the two factors
(C) Degree of substitutability of the two factors
(D) None of these
3. Which one of the following statements is correct or more nearly correct ?
(A) An increase in the price of commodity represents a fall in its value
(B) Value has nothing to do with the price
(C) If the price of a commodity falls, its value relative to other goods does not change
(D) The price of a good is its value measured in terms of money
4. The important macro-economic aggregates are
(A) Aggregate Consumption
(B) Gross Domestic Capital Formation
(C) Gross Domestic Savings and GNP
(D) All of the above
5. Match the following
List – I List – II
I. For a given 10 percent change in price, demand changes by zero percent 1. e > 1
II. For a given 10 percent change in price, demand changes by 5 percent 2. e = 1
III. For a given 10 percent change in price demand changes by 10 percent 3. e < 1
IV. For a given 10 percent change in price, demand changes by 20 percent 4. e = 0
Code :
I II III IV
(A) 3 1 2 4
(B) 4 3 2 1
(C) 1 2 3 4
(D) 2 3 1 4
6. Long – lasting beliefs about what is important in a variety of situations, that guide our decisions and actions are :
(A) values
(B) ethical dimensions
(C) priorities
(D) desires
7. Figure – Ground Theory explains the process of
(A) Cognition (B) Sensation
(C) Perception (D) Motivation
8. Successive re-inforcements resulting in desired behaviour are
(A) mentoring
(B) motivation
(C) shaping
(D) behaviour-modification
9. Psychological contract is related to
(A) job – person fit
(B) role – person fit
(C) organisation – person fit
(D) none of the above
10. Equity is called as
(A) equality of all
(B) standard performance
(C) comparative sense of justice to self
(D) none of the above
11. The distinction between ‘job enrichment’ and ‘job enlargement’ is
(A) semantics
(B) ‘job enrichment’ is vertical loading while ‘job enlargement’ is horizontal loading
(C) ‘job enrichment’ is the outgrowth of Hertzberg’s theory while ‘job enlargement’ is of Maslow’s orientation.
(D) ‘job enrichment’ is more for the individual and the other is more of organisation making
12. In ‘delegation’
(A) Only authority is delegated not responsibility
(B) Both authority and responsibility are delegated
(C) Only responsibility is delegated, not authority
(D) Neither responsibility, nor authority is delegated
13. Cross-functional groups that operate across space, time and organisational boundaries with members who communicate mainly through information technologies are
(A) telecomputers
(B) virtual teams
(C) teleworkers
(D) telemarketers
14. Career resilience means
(A) Ability to switch careers
(B) Ability to remain with same competencies refining suitably for organizations
(C) Lack of capacity to remain in career
(D) None of the above
15. Lock out means
(A) An antithesis of strike
(B) Refusal to employ any person in employment
(C) the temporary closing of a place of employment
(D) Illegal strike