List of top Economics Questions

India’s Second Five-Year Plan (1956-61) was developed based on

Which one of the followings was NOT part of India’s economic reforms in 1991?

Let \(e\), \(R\), and \(p\) represent own price elasticity of demand, total revenue, and price, respectively for a good. If \[ \frac{\partial R}{\partial p}<0, \] then

Which one of the following is a relative measure of dispersion?

If kurtosis is defined as \[ \left(\frac{m_4}{\sigma^4}-3\right), \]
where \(m_4\) is the \(4^{th}\) order central moment and \(\sigma\) is the standard deviation, then its value is positive for

Which of the following correctly explains “opportunity cost”?

If an economy is operating below full employment equilibrium, the government should:

Which of the following causes a rightward shift in the demand curve of a normal good?

When average revenue equals marginal revenue at all levels of output, the market structure is:

Which of the following is a direct tax?

If Marginal Propensity to Consume (MPC) is \(0.8\), the value of investment multiplier will be:

The central problem of an economy arises mainly because:

In national income accounting, depreciation is deducted from gross domestic product to obtain:

Which of the following situations indicates “excess demand” in an economy?

If the price elasticity of demand for a commodity is greater than 1, then a fall in price will lead to:

The pre-independence agrarian economy of India under British colonial rule was characterized by stagnation, largely due to the introduction of which land tenure system in Eastern India?

If the real Gross Domestic Product (GDP) of an economy is \$500 billion and the nominal GDP stands at \$600 billion, what is the value of the GDP Deflator?

In macroeconomic analysis, how does an economy behave when it enters a state known as a 'Liquidity Trap'?

Which of the following options correctly defines the geometric relationship between the Short-run Marginal Cost (SMC) curve and the Average Variable Cost (AVC) curve?

Under perfect competition, the short-run supply curve of an individual profit-maximizing firm corresponds to which of the following segments?

If the value of the Marginal Propensity to Save (MPS) in an economy is exactly \( 0.2 \), what is the magnitude of the investment multiplier (\( K \))?

In the measurement of money supply aggregates, which of the following components is explicitly included in the definition of the \( M_1 \) money aggregate?

Which of the following mathematical equations correctly represents the transformation route to derive Gross National Product at Factor Cost (\( \text{GNP}_{fc} \)) from Gross Domestic Product at Market Prices (\( \text{GDP}_{mp} \))?

Arrange the following major milestones of Indian and global economic development in the correct ascending chronological sequence:

• Implementation of the Goods and Services Tax (GST) in India
• Launch of the New Economic Policy (NEP) in India
• Establishment of the World Trade Organization (WTO)
• Enforcement of the General Agreement on Tariffs and Trade (GATT)

Given the consumption function \(C = 200 + 0.8Y\), \(I = 300\), find the equilibrium income.