Commerce exams sample papers

CA CPT Exam General Economics Practice Paper

uptu mca practice paper

CPT General Economics Online Test

Question 1
The green revolution is also known as
A
maize revolution
B
rice revolution
C
forest revolution
D
wheat revolution
Question 2
Which of the following statements is correct?

Related: MCQ on Factual Situation (Legal Principle)

A
Nearly 5 percent population of India is below the poverty line
B
None
C
The production techniques are backward
D
Agriculture occupies 10 percent population of India
Question 3
According to the NSS:
A
unemployment rates on the basis of current daily status were lower than those on the basis of usual status
B
none of these
C
unemployment rates on the basis of current daily status were higher than those on the basis of usual status
D
unemployment rates on the basis of current daily status were same as those on the basis of usual status
Question 4
Money in traditional sense:
A
serves as a medium of exchange
B
serves as both medium of exchange and store of value
C
serves as both medium of exchange and store of value
D
serves as a store of value
Question 5
Which of the following statements about banks is incorrect?

Related: Questions on Fundamental Accounting Concepts

A
None
B
Banks mobilize savings and make them available for production
C
Banks encourage saving habits among people
D
Banks mobilize savings and make them available for production
Question 6
Which is of the following statements is correct?
A
None of these
B
Gini coefficients are often used for measuring poverty in relative sense.
C
In India, we mainly use the concept of relative poverty for measuring poverty
D
When poverty is related to the distribution of income or consumption expenditure, it is absolute poverty
Question 7
Who expressed the view that “Economics should be neutral between ends”?
A
Robbins
B
Adam Smith
C
Marshall
D
Pigou
Question 8
Which of the following pairs of goods is an example of substitutes?
A
Shirt and trousers
B
Tea and coffee
C
Tea and sugar
D
Pen and ink
Question 9
FRBM Act stands for:
A
Fiscal Revenue and Budget Management
B
Fiscal Responsibility and Budget Management
C
Foreign Revenue and Business Management
D
Foreign Responsibility and Budget Management
Question 10
Larger production of ____ goods would lead to higher production in future.
A
Capital goods
B
Public goods
C
Consumer goods
D
Agricultural goods
Question 11
Under _____ market condition, firms make normal profits in the long run.
A
Monopoly
B
Oligopoly
C
Perfect Competition
D
None of these
Question 12
Three steel plants in Bhilai, Rourkela and Durgapur were set up in the ______.

Related: Series Completion - Verbal Reasoning

A
Third plan
B
Fourth plan
C
First plan
D
Second plan
Question 13
Who is the official “lender of the last resort” in India?
A
RBI
B
PNB
C
SEBI
D
SBI
Question 14
Find the correct match:

Related: 40+ Legal Aptitude Questions with Answers

A
The range of our enquiry becomes restricted to that part of social welfare that can be brought directly or indirectly into relation with the measuring rode of money- Adam Smith
B
Economics is the science which studies human behaviour as a relationship between ends and scarce means which have alternative uses- Robbins
C
Science which deals with wealth- Alfred Marshall
D
An enquiry into the nature and causes of the wealth of the nation- A.C.Pigou.
Question 15
The annual addition to the India’s population is almost equal to the total population of ___.
A
Japan
B
Pakistan
C
Australia
D
Bangladesh
Question 16
The unsustainable levels of government deficits in the late 80’s can be attributed to:
A
insufficient revenues
B
poor returns on government investments
C
high levels of government expenditures
D
all of these
Question 17
Work force refers to that part of:
A
labour force which is unemployed
B
population which is forced to work
C
labour force which is employed
D
population which is unemployed
Question 18
Electricity generated from radioactive elements is called
A
thermal electricity
B
tidal energy
C
atomic energy
D
hydel electricity
Question 19
Suppose the demand for meals at a medium-priced restaurant is elastic. If the management of the restaurant is considering raising prices, it can expect a relatively:

Related: State and National Political Parties List

A
small fall in demand
B
large fall in demand
C
small fall in quantity demanded
D
large fall in quantity demanded
Question 20
Which of the following statements is correct?
A
The foreign trade policy post Independence allowed free trade of all goods and services
B
None of these
C
The public sector was given a dominant position in the newly Independent India
D
Monetary policy post Independence sought to keep the CRR at a very low level
Question 21
Find the tax which is direct tax among the following:
A
GST
B
Excise duty
C
Customs Duty
D
Personal income tax
Question 22
What implication does resource scarcity have for the satisfaction of wants?
A
We will never be faced with the need to make choices
B
The discovery of new natural resources is necessary to increase our ability to satisfy wants
C
We must develop ways to decrease our individual wants
D
Not all wants can be satisfied
Question 23
The industrial sector faced the process of retrogression and deceleration during
A
1950-1965
B
1965 -1980
C
1980- 1995
D
1990-2005
Question 24
A firm encounters its “shutdown point” when:
A
average total cost equals price at the profit-maximizing level of output
B
average fixed cost equals price at the profit-maximizing level of output
C
marginal cost equals price at the profit-maximizing level of output
D
average variable cost equals price at the profit-maximizing level of output
Question 25
Fiscal policy means:
A
policy relating to public revenue and public expenditure
B
policy relating to non banking financial institutions
C
None
D
policy relating to money and banking in a country
Question 26
In the theory of demographic transition in the last stage
A
birth rate falls, death rate falls
B
birth rate falls, death rate rises
C
birth rate falls, death rate rises
D
birth rate rises, death rate rises
Question 27
Per capita national income means
A
Total capital / population
B
Total capital / population
C
Total capital / population
D
NNP / population
Question 28
India’s passing through _________ stage of demographic transition
A
second
B
fourth
C
third
D
first
Question 29
The pre-condition for privatization to be successful requires:
A
capital markets should be sufficiently developed
B
None of these
C
liberalization and de-regulation of the economy
D
both of these
Question 30
As a result of the Industrial Policy,1991:

Related: Quantitative Aptitude (Numerical Ability) Question Bank

A
the public sector’s management has been passed over to the private sector
B
the public sector has been stripped off all its power
C
the public sector’s portfolio will be reviewed with greater realism. The focus will be on strategic high tech and essential infrastructure industries
D
the public sector has been given the commanding heights of the economy
Question 31
Which of the following statements is incorrect?
A
The rural road network connects around 65 percent of all weather roads
B
The Indian road net work is one of the longest in the world
C
The National highways carry more than 40 percent of the total road traffic
D
Most of the State Road Transport Corporations are running on profits
Question 32
In order to control credit:
A
CRR should be reduced and Bank rate should be increased
B
CRR should be increased and Bank rate should be increased
C
CRR should be increased and Bank rate should be decreased
D
CRR should be reduced and Bank rate should be reduced
Question 33
Indigo and Vistara are examples of:
A
private airlines
B
private ships
C
private railways
D
private schools
Question 34
What is India’s rank in world population?
A
Second
B
First
C
Fourth
D
Third
Question 35
In describing a given production technology, the short run is best described as lasting
A
up to five years from now
B
as long as at least one input is fixed
C
up to six months from now
D
as long as all inputs are fixed
Question 36
Which of the following has been specifically established to meet the requirements of credit of the farmers and villagers?
A
Regional Rural Banks
B
ICICI bank
C
Regional Rural Banks
D
Regional Rural Banks
Question 37
Price-taking firms, i.e., firms that operate in a perfectly competitive market, are said to be “small” relative to the market. Which of the following best describes this smallness?
A
The individual firm has assets of less than Rs.20 lakh
B
The individual firm faces a downward-sloping demand curve
C
The individual firm must have fewer than 10 employees
D
The individual firm is unable to affect market price through its output decisions
Question 38
In the production of wheat, all of the following are variable factors that are used by the farmer except:
A
the seed and fertilizer used when the crop is planted
B
the seed and fertilizer used when the crop is planted
C
the number of hours that the farmer spends cultivating the wheat fields
D
the tractor used by the farmer in planting and cultivating not only wheat but also corn and barley
There are 38 questions to complete.

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