Subject General Knowledge
Direction: Choose the correct answer.
126. The number of imported automobiles in a year is an example of what type data?
Nominal
Qualitative
Discrete
Continuous
Ans.
127. A binomial distribution may be approximated by a Poisson distribution (where n = number of trails and p = probability of success in each trail) if
n is large and p is small
n is small and p is large
n is small and p is small
(a) and (b) but not (c)
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128. Scarcity is the imbalance between
Demand and supply
Limited resources and limited wants
Limited resources and unlimited wants
None of the above
Ans.
129. In the oligopolistic market, firms sell
Homogenous product
Differentiated product
Homogenous or differentiated product
None of the above
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130. The IMF Articles of Agreement encourages currency convertibility on
Current account of the BOP
Capital account of the BOP
None of the above
Both (a) and (b)
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131. Supply side policy is related with the
Supply side improvement on real output
Supply side improvement on price level and real output
Demand for real output
Demand and supply of real output
Ans.
132. Presence of Heteroscedasticity in a Classical Linear Regression Model indicates
Disturbances appear in the population regression are Homoscedastic
Variance for variables considered in the model are same
Standard deviations for all variable of the model are different
The error term of the model has unequal variance
Ans.
133. Causes of Multicollinearity in an Econometric model is/are due to
Improper use of dummy variable
Presence of correlation among the explanatory variables
Inclusion of less number explanatory variables
Both a and b
Ans.
134. Short run AC of firm is U shaped because the production process
Follows law of diminishing marginal utility
Follows law of diminishing marginal product
Follows returns to scale
Does not follow any law
Ans.
135. Consumer surplus means
Total price paid to purchase a basket of goods
Difference between what consumer wants to pay and actual price
What consumer wants to pay
What consumer actually paid
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136. For optimal macroeconomic effectiveness, monetary policy should be
Independently applied
Coordinated with fiscal policy
coordinated with trade, fiscal and exchange rate policy
All of the above
Ans.
137. For the standard normal distribution, the z value gives the distribution, the z value gives the distance between
The mean and a point in terms of the mean
The mean and a point in terms of the standard deviation
The mean and a point in terms of the variance
The mean and a point in terms of the enter of the curve
Ans.
138. 'Dumping' in international trade means
Forcing other countries to buy a country's goods
Charging a lower price for exported goods than the same goods sold domestically
Charging a lower price for exported good than the same goods sold domestically
Both (a) and (c)
Ans.
139. The theory of "Purchasing Power Parity" holds that
All countries price levels are equal, when measured in terms of the same currency
Price levels are equal, ignoring transportation cost
Both (a) and (b)
None of the above
Ans.
140. "Managed Floating" of the exchange rate allows a central bank to
Control volatility of the exchange rate
Control money supply but at the cost of greater exchange rate instability
Both of the above
None of the above
Ans.
141. The Doha Round of multilateral trade negotiations could not yet achieve its goal because of
Disagreements over agricultural subsidy issues
Disagreements over tariff issues
Refusal to negotiate
None of the above
Ans.
142. A discount bond
Pays the bondholder the same amount every period until the maturity date
At the maturity date pays the bondholder the face value of the bond plus an interest payment
Pays the bondholder a fixed interest payment every period and repays the face value at the maturity date
Pays the bondholder face value at the maturity date
Ans.
143. What are appropriate value in the blank space
1, 2, 3
3, 2, 1
1, 3,1
2, 3, 1
Ans.
144. Keeping other factors constant, total revenue of the producer from product from product X falls with the increase i price which suggest.
The cross elasticity of demand for X with regard to Y is negative
Income elasticity of demand for X is greater than 1
Price elasticity of demand for X is greater than 1
None of the above
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145. The Isoquant curve is
Concave to the origin
Convex to the origin
Straight line
U shaped
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146. Which of the following is not considered in calculating GDP?
A grant to the poor student
A shareholders dividend
A doctor's fees
A landlord's rent
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147. Which of the following could not bring about a shift in the demand for commodity X from D 1 to D 2 as shown in the diagram?
A successful advertising campaign to promote
An increase in the real income of the population of the country
A fall in the price of X
An increase in the price of a close substitute for X
Ans.
148. Which of the following countries is not a lank locked country?
Bhutan
Austria
Nepal
Afghanistan
Denmark
Ans.
149. Among the following who is/was not a winner of Nobel prize in literature?
Tomas Transtroemer
Georgo Bernard Shaw
Pablo Neruda
Bertrand Russell
Leo Tolstoy
Ans.
150. which one is incorrect?
IMO : International Maritime Organization
UNV : United Nations Volunteer
UNC : United Nations University
IFC : International Fiance Company
UNDP : United Nations Development Program
Ans.