71. Lowering of value of currency relative to a foreign reference currency is called _________.
1. Devaluation
2. Revaluation
3. Down valuation
4. Negative valuation
Option “A” is correct Devaluation is a deliberate downward adjustment to the value of a country’s currency relative to another currency.
72. If demand curve for camping tents is D = 100000 – 17P and supply curve is S = 50000 + 8P, find the equilibrium Price?
1. Rs. 1000
2. Rs. 2000
3. Rs. 4000
4. Rs. 500
Option “B” is correct At equilibrium demand is equal to supply.
73. Fiscal policy in India is formulated by –
1. Reserve Bank of India
2. Planning Commission
3. Finance Ministry
4. SEBI
Option “C” is correct Fiscal policy in India is formulated by Finance Ministry.
74. What is MUDRA?
1. Development and Refinance Agency
2. Scheme for Agricultural Insurance
3. New Planet Discovered
4. Development and Regulatory Authority for Urban Township
Option “A” is correct Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi on 8 April 2015.
75. Full employment is the level at which there is _____.
1. no frictional unemployment
2. no cyclical unemployment
3. no structural unemployment
4. no unemployment
Option “B” is correct Full employment is the level at which there is no cyclical unemployment.
76. Which of the following is represented by ‘Lorenz Curve’?
1. Employment
2. Inflation
3. Deflation
4. Income Distribution
Option “D” is correct In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth.
77. The central nodal agency for implementing the price support operations for commercial crops is:
1. NAFED
2. NABARD
3. TRIFED
4. FCI
Option “A” is correct National Agricultural Cooperative Marketing Federation of India Ltd is an apex organization of marketing cooperatives for agricultural produce in India, under Ministry of Agriculture, Government of India.
78. The __________ exchange rate is the relative price of foreign goods in terms of domestic goods.
1. Artificial
2. Nominal
3. Fixed
4. Real
Option “D” is correct The real exchange rate R is defined as the ratio of the price level abroad and the domestic price level, where the foreign price level is converted into domestic currency units via the current nominal exchange rate.
79. ___________ is an alternative way of representing the production function.
1. The Short Run
2. The Long Run
3. Isoquant
4. Average product
Option “C” is correct An Isoquant Curve shows all the possible combinations of input factors that yield the same quantity of production. In other words, an iso-quant curve is a geometric representation of the production function, wherein different combinations of labor and capital are employed to have the same level of output.
80. ____________ is the relationship between the variable input and output, keeping all other inputs are held constant.
1. Total product
2. Average product
3. Isoquant
4. The Long Run
Option “A” is correct Total product is the relationship between the variable input and output,keeping all other inputs are held constant.
