1.Which of the following is the most appropriate definition of trade-offs?
2.The present Poverty line estimation in India is based on the factor of:
3.With reference to the Multidimensional Poverty Index, consider the following statements. 1. The index involves measuring the different types of deprivation that individuals experience at the same time. 2. The category of the people who are deprived in one third or more of the weighted indicators are considered living in extreme multidimensional poverty. 3. The dimension Standard of living has more weightage than the other dimensions of the Index Which of the statements given above are incorrect?
4.Consider the following statements 1. The macro economic variables impact micro economic decisions but not viceversa. 2. The study of different sectors in an economy is considered as Mesoeconomics. Which of the above statements is/are incorrect?
5.In the context of economy, ‘invisible hand’ refers to?
6.Which of the following are the central premises of Liberal school of economy? 1. Individual economic actors are rational. 2. State to intervene when economy is not performing well. 3. Economy to be left to the market forces. 4. State to provide only public goods, and thus facilitate economic activity Select the correct answer using the codes given below:
7.Consider the following statements about Neoliberalism 1. The neoliberal philosophy significantly deviated from the Liberal school’s assumptions and policies. 2. India’s economic reforms since 1991 are largely centred around it. Which of the statements given above is/are incorrect?
8.Consider the following statements about Keynesian Economics 1. It essentially believes in the liberal economic principles. 2. It is based on pump priming of the economy when growth slows downs. Which of the statements given above is/are correct?
9. Which of the following reasons justify the India’s adoption of Nehruvian socialism after independence? 1. It lacked any significant private sector at the time of independence 2. The self-reliance in economic growth seemed relevant by that time 3. USSR showed that it could be an expeditious way of achieving equitable growth 4. National leaders believed in the values of welfare State and equity Which of the statements given above are correct?
10.Which of the following are part of Gandhian economics? 1. It is based on small scale and locally oriented production 2. It supported the labour displacing technology. 3. According to this, an individual or a group is free to set up an economic enterprise and even accumulate wealth. 4. It combines economics of employmentintensive development with ethics of equity. Select the correct answer using the codes give below:
