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Economics - Model Question Paper
1. Select the right choice in the questions given below [ 15 ]
Q1. The speculative demand for money depends on –
a) Interest rate
b) Income
c) Profit
d) Output
Q2. When a linear consumption function undergoes a parallel shift downwards, the investment multiplier---
a) Falls
b) Rises
c) Doubles
d) Does not change
Q3. In classical theory of employment what ensures the perfect clearing of the labour market-
a) Flexibility of interest rate
b) Flexibility of wage rate
c) Flexibility of prices of the commodity
d) Classical assumption of perfect competition in the product market
Q4. Who among the following economist introduced the concept of permanent income as a determination of consumption function-
a) M. Friedman
b) J.M Keynes
c) J.S Duesenberry
d) N.Kaldor
Q5. The quantity theory of money was first propounded by ---
a) D.Ricardo
b) T.R Malthus
c) Davanzatti
d) D.Hume
Q6. In the case of an inferior commodity, the income elasticity of demand is
a) Positive
b) Unitary
c) Negative
d) Infinity
Q7. Consumers surplus if the highest in case of
a) Necessities
b) Comforts
c) Luxuries
d) Conventional necessities
Q8. Slutsky’s theory in consumption relates to
a) Income effect
b) Substitution
c) Complementary of goods
d) Both a and b
Q9. All money costs can be regarded as:
a) Social cost
b) Opportunity costs
c) Explicit costs
d) Real costs
Q10. Which is an inverted ‘U’ shaped curve—?
a) AC
b) MC
c) TC
d) FC
Q11. According to Keynes when the Great Depression, the government should have
1. Done nothing
2. Decreased money supply
3. Had a large increase in government spending
4. Enacted high tariff, such as smooth Hawley Tariff.
Q12. Which of the following is a component of M-1
1. Saving deposits
2. Credit card
3. Checkable deposits
4. Gold
Q13. Which of the following income tax is regressive?
1. The federal income tax
2. The state income tax
3. The sales tax
4. The Medicare tax
Q14.India’s Wage policy is based on
1. Cost of Living
2. Standard of Living
3. Productivity
4. None of these.
Q15. In our country which of the following affects poverty line the most.
1. Level of prices
2. Production quantum
3. Per capita income
4. Quantum of gold resources

See more questions download PDF File : http://www.ksvuniversity.org.in/Econ...rse%20work.pdf