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12th Standard Economics English Medium Free Online Test One Mark Questions with Answer Key 2020 - Part Ten

12th Standard

    Reg.No. :
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Economics

Time : 00:10:00 Hrs
Total Marks : 10

    Answer all the questions

    10 x 1 = 10
  1. Identify which is not an example of capitalistic economy.

    (a)

    The USA economy

    (b)

    Germany economy

    (c)

    Indian economy

    (d)

    Australia economy

  2. Which is a flow concept ?

    (a)

    Number of shirts

    (b)

    Total wealth

    (c)

    Monthly income

    (d)

    Money supply

  3. In case of transfer payments of nation income, expenditures towards payment incurred by the government like old age pension…………..?

    (a)

    should be included

    (b)

    should not be included

    (c)

    both

    (d)

    none

  4. Online Banking is also known as.

    (a)

    E-Banking

    (b)

    Internet Banking

    (c)

    RTGS

    (d)

    NEFT

  5. The Tenth BRICS Summit was held in July 2018 at

    (a)

    Beijing

    (b)

    Moscow

    (c)

    Johannesburg

    (d)

    Brasilia

  6. Expand the term TRIPs

    (a)

    Tradition Related Intellectual Procedural Rights

    (b)

    Trade Related Intellectual Property Rights

    (c)

    Tourism Related Intellectual Procedural Rights

    (d)

    Travel Related Intellectual Property Rights

  7. Which one of the following deficits does not consider borrowing as a receipt?

    (a)

    Revenue deficit

    (b)

    Budgetary deficit

    (c)

    Fiscal deficit

    (d)

    Primary deficit

  8. Assertion (A): A poor person should pay more tax compared to a middle class person or a rich person.
    Reason (R): The Government should impose tax in such a way that the people have to pay taxes according to their ability.

    (a)

    Both A and R are true and R is the correct explanation of A

    (b)

    Both A and R are true but R is not the correct explanation of A.

    (c)

    A is true but R is false

    (d)

    A is false but R is true

  9. P.C.Mahalanobis is known as the founder of________.

    (a)

    classical statistics

    (b)

    mathematical economics

    (c)

    modern statistics

    (d)

    applied econometrics

  10. When the correlation coefficient, r, is close to one:

    (a)

    there is no relationship between the two variables

    (b)

    there is a strong linear relationship between the two variables

    (c)

    it is impossible to tell if there is a relationship between the two variables

    (d)

    the slope of the regression line will be close to one

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