1.Consider the following statements about challenges in economic studies. 1. Price determination is a major challenge in macroeconomic studies. 2. Determination of employment in an economy is a challenge in microeconomic studies. Which of the above statement(s) is/are correct?
2.Which of the following statements are correct? 1. All factors that affect a microeconomic variable also impact the macroeconomics in the long run. 2. Complementary relation between micro and macroeconomics reduces the individual flexibility of both. 3. While macroeconomics takes a bottom-up approach, microeconomics takes a top-down approach to analyze the economy. Select the correct answer using the code given below.
3.‘Engel curve’ depicts which of the following relationships?
4.Which of the following statement(s) about the ‘Kuznets curve’ is/are correct? 1. It demonstrates the relationship between economic growth and inequality in an economy. 2. If we plot economies of the world on this curve, the developed economies are usually found on the right side. Select the correct answer using the codes given below.
5.Consider the following statements about the ‘Phillips curve’. 1. It states that unemployment is higher when there is high inflation in the economy. 2. Stagflation linked unemployment holds good as per this curve. 3. It is based on an assumption that economic growth and inflation are directly related. Which of the above statement(s) is/are correct?
6.Which of the following statements about the ‘Lorenz curve’ is incorrect?
7.Which of the following curve represents the impact of a country’s currency depreciation on its current account balance?
8.Which of the following does not come under the primary sector of the Indian economy? 1. Forestry 2. Oil refining 3. Mining 4. Fishing 5. Sugar production 6. Dairying 7. Agriculture insurance Select the correct answer using the code given below.
9.Consider the following statements about the secondary sector. 1. All activities associated with the manufacturing of products from natural materials come under this sector. 2. Most of the people engaged in this sector are red-collar workers. 3. Food processing, construction activities come under this sector. Which of the above statement(s) is/are correct?
10.Which of the following correctly describes the characteristics of the ‘sunrise industry’?
