l/l.T.P: 9/2 131 What is the shape of AR curve.faced by a firm under perfect competition?a) Horizontal b) Vertical c) Positively sloped d) Negatively slopedM.T.P ; 9/2 132 Which of the following is the condition for equilibrium of a firm ?(a) AC=AR(b) MR=AR(c) MC=MR(d) AC=MRM.T.P-10/2: 113 Monopoly power refers to the firm's ability to :(a) Earn economic profit(b) Restrict entry into the industry(c) Set prices above marginal cost(d) Possess economies of scaieM.T.P-10/2: 114 In the long run monopolistic competitive firm has :(a) Excess Capacity(b) Excess Profits(c) Zero Fixed cost(d) All of the above

The industrial sector faced the process of retrogression and deceleration during(a) 1950-1965(b) 1990-2005 tidal energy.Over the years the number of cancer cases has(a) increased- (b) decreased, (c) remained constant, (d) doubled.For adult educationmission was launched in 1998 in India.(a) National Adult education (b) National Technological(c) National Senior Citizen(d) Nations! LiteracyAccording to the latest data (Dec. 2011), there are aroundbroadbandsubscribers in India.(a) More than 13 million (b) More than 3 million(c) More than 2 million(d)More than 5 millionTRAI is the regulatory authority forin Indiaa) Railwaysb) Telecom c) Bankingd) Secondary MarketPostal Network in India is in the world.. (a) Third largest (b)Second largest (c) Largest (d) Tenth largestii in terms of capacity of power generation, the highest capacity is of :i (a) Thermal(b) Hyde!(c) Nuclear(d) othersNTPC stands fori (a) National Thermal Power Corporation ; (b) National Tidal Power Corporation(c) National Theological Power Corporation(d) National Talent and Potential Corporationimeasures the operational efficiency of a'thermal plant.I (a) Power load factor(b) Power leakage factor(c) Plant load factor(d) Plant leakage factor1The National Highways now carry more thanpercent of the total roadtraffic.(a) 10 Administered prices means(a) Prices fixed by private sector under the guidance of government(b) Prices fixed by consumer forums(c) Prices fixed by the Government and private sector(d) Price level fixed by the Government7 Price support policy means :(a) Prices at which government would be buying agricultural products fromfarmers(b) Prices at which farmers will be selling goods to the private sector(c) Subsidy received by farmers from government(d) None of the above(e) Stagflation :(a) means prices are falling and purchasing power is increasing(b) is in the form of a low rate of growth combined with the general pricelevel increase(c) means high rate of growth combined with rise in the general price level(d) means that due to increase in the cos tof products, prices of finalproducts are increasingWhen prices are rising and there is unemployment and recession in the economy, then the phenomenon is called :(a) Inflation (b) Stagflation (c) Deflation(d) Reflaction

Which of the following is not an objective of Fiscal Policy?(a) Economic growth(b) Economic Stability(c) Maximization of employment level(d) Regulating of financial institutionsWhich of the following concepts of Budget deficit has become practically redundant in India?(a) Fiscal deficit(b) Budgetary deficit(c) Primary deficit(d) Revenue deficitFRBM Act stands for:(a) Fiscal Revenue and Budget Management.(b) Foreign Revenue and Business Management.(c) Fiscal Responsibility and Budget Management.(d) Foreign Responsibility and Budget ManagementFiscal policy means:(a) policy relating to money and banking in a country.(b) policy relating to public revenue and public expenditure.(c) policy relating to non banking financial institutions.(d) none of the above.Which of the following is not a part of Fiscal Policy?(a) Subsidy under public distribution system(b) Control of Production(c) Imposition of taxation(d) Issue of bonds by governmentIf borrowings and other liabilities; are added to the budget deficit we get(a) revenue deficit, (b) capital deficit, (c) primary deficit, (d) fiscal deficit.In abudget revenue equals expenditure.(a) balanced(b) deficit(c) surplus(d) long termThe FRBM Act aims at reducing gross fiscal deficit by% perannum.(a) 2%.(b)1%.(c)0.5%.(d)3%.Fiscal policy is concerned with :(a) public revenue, public expenditure and public debt(b) controlling the BOP situation(c) controlling the banks(d) none of the aboveIn Fiscal deficit we add borrowings and other liabilities to the(a) Primary deficit fb) Capital deficit (c) Budget deficit (d) Money deficitIn India fiscal year starts from(a) 31st March (b) 31st April(c) 1st April(d) 1st MarchWhich budget in India is passed separately?(a) Defence(b) Airlines(c) Atomic energy(d) RailwaysRevenue deficit in India is -(a) negative(b) positive(c) zero(d) none of the above

The rapid increase of public debt of the Central Government since 1950-51 has been due to(a) uncontrolled inflation(b) mounting shares of state government from revenues raisedby the central government(c) mounting costs of financing public expenditure(d) rising populationSince 1990, savings of the household sector in India have been(a) greater than the savings of the private corporate sector butless than the savings of the public sector(b) less than the savings of the private corporate sector butmore than savings of the public sector.(c> greater than the savings of the private corporate sector aswell as the savings of the public sector (d) less than the savings of the private corporate sector as wellas the savings of the public sectorThe main objective of fiscal policy in developing countries is to:(1) promote economic growth(2) mobilise resources for economic growth(3) ensure economic growth and distribution(4) increase employment opportunities(a) only 1 and 2 are correct(b) only 2 and 3 are correct(c)only 2 and 4 are correct(d) 1, 2, 3 and 4 are correctBudgetary deficit can be expressed as:(a) the excess of pubic expenditure over public revenue(b) the sum of deficit on revenue account and deficit on capital account(c) that portion of government expenditure which is financed through the saleof 91 days Treasury Bills and drawing down of cash balances(d) all of the aboveA Government budget is defined as:(a) a description of the fiscal policies of the government andthe financial plans(b) a financial plan describing estimated receipts and proposedexpenditures and disbursement under various heads(c) neither of the above(d) both (a) and (b) above: Fiscal Policy is given by :: (a) Ministry of Finance(b) RBI(c) Planning Commission(d) ParliamentI FRBMA, 2003 emphasises on the following except:(a) Revenue - Led Fiscal Consolidation(b) Rationalisation of Tax Regime(c) Improve competitiveness of domestic goods and services in a globalisedeconomic environment(d) Capital - Lad Fiscal Consolation.) In India, except in the Election year, Budget is given on :(a) Last day of March(b) 1st day of April(c) 1s' January(d) Last day of February) Fiscal Deficit minus borrowings and other liabilities is equal to :(a) Revenue Deficit (b) Primary Deficit (c) Capital Deficit (d) Budget Deficit5 Service Tax is an instrument of:(a) Fiscal policy(b) Monetary policy(c) Revenue policy(d) None of the above

Budget Deficit means :(a) Total Receipts and total expenditure(b) Revenue receipts and revenue expenditure(c) Fiscal deficit - interest(d) Total Budgetary receipts - revenue expenditureNon-plan revenue expenditure consists of:(3) Defence(b) Interest Payment(c) Food and Fertilizer subsidy (d) All of the aboveThe Government now taps 91 days treasury bills from the market and shows them as part of:(a) Revenue Receipt (b) Loan Receipt(c) Capital Receipt(d) None of the aboveIf budget deficit is Rs. 11,350 crore and borrowings are Rs. 33,300 crore, what is fiscal deficit ?(a) Rs. 11,350 crore(b) Rs. 44,650 crore(c) Rs. 33,300 crore(d) Rs. 21,950 croreis the difference between total receipts and total expenditure(a) Fiscal Deficit(b) Budget Deficit(c) Capital Deficit(d) Revenue Deficit

AH but one of the following statements are incorrect. Find the correct statement.(a) Balance of payments is a narrow concept than balance of trade.(b) India is facing severe foreign exchange reserves crunch.(c) Devaluation is panacea for BOP problem.(d) The RBI is the lender of last resort for Indian public sector banks.is a systematic record of all the economic transactions betweenone country and rest of the world(a) Balance of trade(b) Balance of transactions(c) Budget(d) Balance of payments.Balance of services is the sum of all invisible service receipts andpayment which could bea) Zerob) Positivec) Negative d) Zero, positive or negativeDuringwe had surplus in the current account.a) 2001-04b) 1991-93c) 1981 -S3d) 1971-73Types of balance of trade are(a) Favorable balance of trade(b) Unfavorable balance of trade(c) Balanced balance of trade(d) All of the aboveBalance of payments is a broader term than ;(a) Balance of Trade(b) Balance of Current Account(c) Balance of Capital Account(d) All of the aboveIn the Balance of payment statement, current account includes:(a) Goods and invisible items(b) Government Loans from abroad(c) Foreign Direct investment(d) None of the aboveBalance of Trade is :(a) Difference between current and capitai Account(b) Difference between export and import of goods(c) Difference between export and import of goods and services(d) Balance of current accounti Balance of payment consists of :(a) Balance of current account and capital account(b) Only Capitai account(c) Only Current Account(d) Only trade account(e) Aboutpercent of the external assistance has been in theform of loans.(a) 40(b)30(c) 10(d) 90The share of concessional debt in total external debt of India has:(a) remained the same(b) doubled(c) reduced(d) increasedIndia ranksamong the top fifteen debtor countries in the world2010(a) seventh(b) Fifth(c) ninth(d) EighthThe largest share of foreign aid in India has been used in the programme of(a) agriculture development(b) industrial development(c) education(d) healthExternal debt are aboutof GDPa) 10%b)25%c)30%d) 18%India's debt service ratio isin 2010-11a) 11.5%b)4.7%C}13.5%d) 10.2%India's external debt stood at more thancrore March 2011.(a) 9,00,000(a) Government has not failed to raise the budget disinvestments inthe capital market(b) The procedure adopted for disinvestment has suffered fromadhocism in the absense of a long term policy(c) It means selling of Govt. Share in the PSU to other PSU or PrivateSector or Banks