MPhil PhD Govind Guru Tribal University Management 2021

  1. Welfare oriented definition of Economics was given by –
    (A) Adam Smith
    (B) Robins
    (C) Marshall
    (D) Samuelson
  2. Which of the following law is called second law of Gossen?
    (A) Law of diminishing marginal utility
    (B) Law of demand
    (C) Law of equi – marginal utility
    (D) Law of supply
  3. Monetary policy refers to the policy of the –
    (A) Government
    (B) Monetary authority
    (C) Money lenders
    (D) Commercial banks
  4. The word ‘Budget’ has been derived from a ……………..word.
    (A) Greek
    (B) Latin
    (C) French
    (D) German
  5. The Income Tax in India is –
    (A) Direct & proportional
    (B) Direct & progressive
    (C) Indirect & proportional
    (D) Indirect & progressive
  6. Chairman of the 15th Finance Commission of India is –
    (A) Shankar Acharya
    (B) Y.V. Reddy
    (C) Bimal Jalan
    (D) N.K. Singh
  7. When was Banking Companies Act enacted?
    (A) 1948
    (B) 1949
    (C) 1942
    (D) 1951
  8. When was the World Trade Organization established?
    (A) 1st Jan, 1995
    (B) 1st Jan, 2000
    (C) 1st Jan, 2006
    (D) 1st Jan, 1996
  9. Inflation is best described as –
    (A) High prices
    (B) Increase in price index
    (C) Increase in purchasing power
    (D) Increase in the prices of
    particular goods
  10. “Economic Survey of India” is published officially every year by the-
    (A) Reserve Bank of India
    (B) Planning Commission of India
    (C) Ministry of Finance, Government of India
    (D) Ministry of Industries, Government of India
  11. The year in which GST was introduced in India is –
    (A) 2015
    (B) 2016
    (C) 2017
    (D) 2018
  12. What is the nature of public finance?
    (A) Science
    (B) Science and Arts both
    (C) Arts
    (D) Neither Science nor Arts
  13. Public revenue means –
    (A) Income of the government
    (B) Income of individuals
    (C) Income of companies
    (D) Income of firms
  14. Pre – determination of future activities comes under which function of management?
    (A) Planning
    (B) Organization
    (C) Control
    (D) Direction
  15. It is not a characteristic of control –
    (A) Management work
    (B) Continuous process
    (C) Reformative process
    (D) Interferences
  16. Which of the following is not a type of preference share?
    (A) Cumulative
    (B) Non-cumulative
    (C) Convertible
    (D) Equity
  17. Second name of secondary market is –
    (A) Money Market
    (B) Capital Market
    (C) Primary Market
    (D) Stock Market
  18. LIC was established in –
    (A) April, 1954
    (B) September, 1956
    (C) March, 1957
    (D) March, 1958
  19. Head office of SEBI is located in –
    (A) Chennai
    (B) Mumbai
    (C) Kolkata
    (D) Delhi
  20. Which of the following is not an essential condition for perfect competition?
    (A) Large number of firms
    (B) Perfect mobility of firms
    (C) Advertising
    (D) Free entry & exit of firms
  21. Who considered economic planning as a path to serfdom?
    (A) Marshall
    (B) Keynes
    (C) Hayek
    (D) Friedman
  22. India’s share in world’s population is-
    (A) 17.7%
    (B) 20.00%
    (C) 40.2%
    (D) 16.7%
  23. The quantity demanded of the commodity changes infinitely, then the demand for such an item is called-
    (A) Perfectly elastic demand
    (B) Perfectly inelastic demand
    (C) Highly elastic demand
    (D) Highly inelastic demand
  24. Elasticity of demand of comfortable goods is –
    (A) EP > 1
    (B) EP = 1
    (C) EP < 1 (D) EP > 0
  25. ‘Zero Based Budgeting’ means –
    (A) Infinite deficit financing
    (B) Unproductive expenditure
    (C) No appraisal of new programs
    (D) Preparation of new budget every time
  26. ‘Ratio and scale’ are related respectively –
    (A) Short period, short period
    (B) Short period, long period
    (C) Long period, long period
    (D) Long period, short period
  27. Public debt is – (A) Loan taken by other countries
    (B) Loan taken by families
    (C) Loan taken by service sector
    (D) Loan taken by the government
  28. Which one of the following cost is not a fixed cost?
    (A) Rent of factory
    (B) Insurance premium
    (C) Cost of raw material
    (D) Interest
  29. In agriculture-finance, short term finance means –
    (A) Upto 10 months finance
    (B) Upto 20 months finance
    (C) Upto 12 months finance
    (D) Upto 15 months finance
  30. Number of schedules in RBI Act, 1934 are –
    (A) 5
    (B) 3
    (C) 2
    (D) 6
  31. “India is a rich country inhabited by poor people”. This paradox is given by –
    (A) Mrs. Vera Anstey
    (B) Robinson
    (C) Keynes
    (D) J.K. Mehta
  32. The institute established in January, 1995 in place of GATT is –
    (A) W.T.O.
    (B) A.D.B.
    (C) I.M.F.
    (D) I.F.C.
  33. Which committee recommended the establishment of the Regional Rural Bank?
    (A) Tarpore Committee
    (B) Kelkar Committee
    (C) Narasimham Committee
    (D) Karmakar Committee
  34. Secretariat of UNCTAD is located at-
    (A) Geneva
    (B) Italy
    (C) USA
    (D) Manila
  35. “Economics is neutral between ends”. Who said this?
    (A) Marshall
    (B) Robinson
    (C) J.K. Mehta
    (D) Jevons
  36. India’s last Five Year Plan was –
    (A) 10th plan
    (B) 11th plan
    (C) 12th plan
    (D) 13th plan
  37. How many times demonetisation has been done in India so far?
    (A) 5 times
    (B) 3 times
    (C) 2 times
    (D) 1 time
  38. The term ‘capital structure’ refers to –
    (A) Share capital + accumulation + long term loan
    (B) Share capital + long term and short term loan
    (C) Share capital + long term loan
    (D) Equity and preference share capital
  39. In which state of India, Consumer Protection Act is not applicable?
    (A) Nagaland
    (B) Jammu & Kashmir
    (C) Arunachal Pradesh
    (D) Manipur
  40. The best and ideal measure of central tendency is –
    (A) Arithmetic mean
    (B) Geometric mean
    (C) Harmonic mean
    (D) Quadratic mean
  41. How many elements of management did Henri Fayol mention?
    (A) Seven
    (B) Five
    (C) Three
    (D) Eight
  42. The goal of marketing management is-
    (A) Boost sales
    (B) Capture the market
    (C) Make a profit
    (D) Enhance business reputation
  44. Which note is not issued by RBI?
    (A) One rupee note
    (B) Five rupees note
    (C) Ten rupees note
    (D) Twenty rupees note
  45. The year of nationalisation of Reserve Bank of India is –
    (A) 1935
    (B) 1949
    (C) 1951
    (D) 1956
  46. Which of the following is not a tool of fiscal policy?
    (A) Rate of interest
    (B) Taxation
    (C) Public expenditure
    (D) Public debt
  47. The Central Bank of India is –
    (A) Reserve Bank of India
    (B) State Bank of India
    (C) Punjab National Bank
    (D) Central Bank of India
  48. Statement of working capital is made from –
    (A) Current assets
    (B) Fixed assets
    (C) Current assets and current liabilities
    (D) Non – current items
  49. First Regional Rural Bank started in –
    (A) 1955
    (B) 1965
    (C) 1975
    (D) 1980
  50. NABARD is –
    (A) A Bank
    (B) A Bureau
    (C) A Board
    (D) A Council

    Answer Key

    1 (c) 2 (c) 3 (b) 4 (c) 5 (b) 6 (d) 7 (b) 8 (a) 9 (a) 10 (c) 11 (c) 12 (b) 13 (a) 14 (a) 15 (d) 16 (d) 17 (b) 18 (b) 19 (b) 20 (c) 21 (c) 22 (a) 23 (a) 24 (b) 25 (d) 26 (c) 27 (d) 28 (c) 29 (d) 30 (c) 31 (a) 32 (a) 33 (c) 34 (a) 35 (b) 36 (c) 37 (b) 38 (a) 39 (b) 40 (a) 41 (b) 42 (d) 43 (a) 44 (a) 45 (b) 46 (a) 47 (a) 48 (c) 49 (c) 50 (a)