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

1.

The major objectives of public expenditure are _________.

(a)

Economic Growth

(b)

Maintenance of Defence

(c)

Social Welfare

(d)

All of the above

2.

Assertion: Banks issue traveler’s cheques to individuals for traveling outside the country.
Reason: Traveler’s cheques are the safe and easy way to protect money while traveling.

(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.

3.

Which of the following is not a scheme of Electronic Banking?

(a)

debit cards

(b)

demand draft

(c)

credit cards

(d)

Internet banking.

4.

Assertion: There is a circular relationship between human development and economic growth.
Reason: A healthy, educated and skilled labour force is the most important productive asset.

(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

5.

What was the name of the conference that laid the foundations for the creation of the WTO, the IMF and the World Bank Group?

(a)

The Doha Conference

(b)

The Bretton woods Conference

(c)

The Tokyo Protocol

(d)

The Shangai Summit

6.

The correlation coefficient may assume any value between ________ and _______ ?

(a)

0 and 1

(b)

-∞ and ∞

(c)

0 and 8

(d)

-1 and 1

7.

Assertion: Consumption is influenced by demonstration effect.
Reason: The consumption standards of low income groups are influenced by the consumption standards of high income groups.

(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

8.

The International Bank for reconstruction and development otherwise called _______.

(a)

SBI