INTRODUCTION TO STATISTICS 1 / 64 Statistics in singular sense includes:Collection of data.Organization of data.Presentation of data.All of the above. 1 2 3 4 2 / 64 Statistics is the science of analyzing:Any Kind of Data.Qualitative Data.Quantitative Data.Imaginative data. 1 2 3 4 3 / 64 Statistical data are affected by ______ cause/ causes.a single.multiple.Either (1) or (2).All of these. 1 2 3 4 4 / 64 When economic facts are expressed in statistical terms they become:Vague.Exact.Convincing.Futile. 1 2 3 4 5 / 64 What implication(s) does resource scarcity has for the satisfaction of wants?Not all wants can be satisfied.The discovery of new natural resources is necessary to increase our ability to satisfy wants.We will never be faced with the need to make choices.We must develop ways to decrease our individual wants. 1 2 3 4 6 / 64 What implication(s) does resource scarcity has for the satisfaction of wants?Not all wants can be satisfied.The discovery of new natural resources is necessary to increase our ability to satisfy wants.We will never be faced with the need to make choices.We must develop ways to decrease our individual wants. 1 2 3 4 7 / 64 Statistics in a singular sense means:Statistical data.Statistical methods.Inductive statistics.Descriptive statistics. 1 2 3 4 8 / 64 Which of the following indicates a stage of statistical study?Collection of data.Presentation of data.Analysis of data.All of these. 1 2 3 4 9 / 64 Which of the following statements is not an example of Statistics?Birth rate in India is 18 per thousand as compared to 8 per thousand in the US.Ramesh has a ₹ 100 note in his pocket.Over the last 10 years, India has won 60 text matches in cricket and lost 50.Average pocket allowance of the students of Class XI is ₹ 500 per month. 1 2 3 4 10 / 64 The aggregate of data is called:Statistics.Editing of data.Analysis of data.Collection of data. 1 2 3 4 11 / 64 Kshitij is employed in a Multinational Company (MNC) as a Marketing Executive. He is aproducer.consumer.service-provider.service-holder. 1 2 3 4 12 / 64 Which of the following is not a stage in statistical study?Organization of Data.Presentation of Data.Publication of Data.Interpretation of data. 1 2 3 4 13 / 64 Distrust of statistics is due to:Misuse of statistics.Insufficient statistical methods.Scope of statistics is limited.Limitations of statistics. 1 2 3 4 14 / 64 The proper use of statistics can be made by:CheatsEveryoneExpertsCommon Man 1 2 3 4 15 / 64 The proper use of statistics can be made by:CheatsEveryoneExpertsCommon Man 1 2 3 4 16 / 64 Statistics as a singular noun means:Inductive Statistics.Statistical Methods.Descriptive Statistics.Statistical Data. 1 2 3 4 17 / 64 _________ is the root cause of economic problems.Unlimited wants.Scarcity.Alternate uses of resources.Both (1) and (2). 1 2 3 4 18 / 64 Statistical methods help to:Analyze economic problems.Formulate policies to solve them.Find economic relationships.All the above. 1 2 3 4 19 / 64 An economic problem arises because:Human wants are unlimited.Means are limited.Resources have alternative uses.All of the above. 1 2 3 4 20 / 64 What is the root cause of all economic problems?Scarcity.Excess Demand.Excess Supply.Deficient Demand. 1 2 3 4 21 / 64 Statistics facilitates:Comparison of data.Collection of data.Organization of data.Disposal of data. 1 2 3 4 22 / 64 The word 'Statistics' is used as:Singular.Plural.Singular and Plural both.None of the above. 1 2 3 4 23 / 64 _____________ is the process through which the total income generated in the country is distributed among the factors of production in the form of rent, wages, interest or profit.Production.Consumption.Distribution.Investment. 1 2 3 4 24 / 64 Statistics is defined in terms of numerical data in the:Singular Sense.Plural Sense.Either (1) or (2).Both (1) and (2). 1 2 3 4 25 / 64 Statistics as a plural noun indicates:Statistical methods.Descriptive statistics.Statistical data.Inductive statistics. 1 2 3 4 26 / 64 Who is known as the father of economics?Marshall.Adam Smith.JB Say.Robbins. 1 2 3 4 27 / 64 Which of the following statements can be called Statistics?In our school there are 5000 students.India has a per capita income of ₹ 20,000 p.a.The USA is the richest country in the world.Technology of Japan is very advanced. 1 2 3 4 28 / 64 The law of scarcity:Does not apply to rich, developed countries.Implies that consumer's wants will never be completely satisfied.Applies only to the less developed countries.Implies that consumer's wants will be satisfied in a socialist system. 1 2 3 4 29 / 64 Study of the distribution of the Gross Domestic Product is called:The study of production.The study of consumption.The study of distribution.None of these. 1 2 3 4 30 / 64 __________ of data is the last stage of statistical study.Presentation.Analysis.Interpretation.None of these. 1 2 3 4 31 / 64 Out of the numerical examples mentioned below, which can be considered as statistics?The sale of firm A is 70,000 tonnes.The cost of AC was ₹ 25,000 in the month of April.Ram got 12% more marks than Shyam.In India, the death rate in 2001 was 8.7 per thousand. 1 2 3 4 32 / 64 . The process of converting raw material into goods is called:ProductionSavingInvestmentExchange 1 2 3 4 33 / 64 One who produces a commodity to satisfy the human wants is called a:Producer.Consumer.Seller.Buyer. 1 2 3 4 34 / 64 Statistics helps to present facts in a _______ form.definite.vague.simple.Both (1) and (3). 1 2 3 4 35 / 64 The statistics is concerned with:Aggregate of organized facts.Aggregate of disorganized facts.Aggregate of useless facts.Aggregate of unrelated facts. 1 2 3 4 36 / 64 Which of the following statements is true?Statistics deals with all kinds of data.Statistics can be used by one and all.It is very difficult to misuse statistics.Statistics can mold data to make god or devil from it. 1 2 3 4 37 / 64 In singular sense Statistics means:Statistical science.Statistical law.Both (1) and (2).None of these. 1 2 3 4 38 / 64 The scope of statistics extends to:Economics.Industry.Government.All of these. 1 2 3 4 39 / 64 Which economist shifted the emphasis of economics from wealth to welfare?Marshall.Adam Smith.J B Says.Robbins. 1 2 3 4 40 / 64 Fro m the given activities, which activity is called non-economic activity?Services rendered by a teacher.Organizing a free blood donation camp.A tourist guide rendering services.Manufacturing shirt with the help of cloth and tailoring. 1 2 3 4 41 / 64 _________ is the process through which consumers satisfy their wants by the use of goods and services.Distribution.Production.Consumption.None of the above. 1 2 3 4 42 / 64 Who among the following, is engaged in an economic activity?A farmer growing wheat for self-consumption.A father buying books for his children.A person going to a temple.Both (1) and (2). 1 2 3 4 43 / 64 Which activity is the base of all production activities?Production.Consumption.Investment.Exchange. 1 2 3 4 44 / 64 Which of the following statements is incorrect?Resources have alternative uses.All numbers are Statistics.Macroeconomics studies large aggregates.Statistics studies only the aggregates of quantitative facts. 1 2 3 4 45 / 64 In the plural sense, which of the following is not a characteristic of Statistics?Aggregate of data.Only expressed in words.Affected by multiplicity of causes.Collected in a systematic manner. 1 2 3 4 46 / 64 'Economics is a study of mankind in the ordinary business of life'. This definition of Economics is given by:Alfred Marshall.Adam Smith.Prof. Robbins.Prof. Samuelson. 1 2 3 4 47 / 64 Which of the following statements does not hold true as one of the characteristics of statistics?Statistics are aggregates of facts.Statistics can be affected even by an individual variable.Statistics are collected in a systematic manner.Statistics are collected for a predetermined purpose. 1 2 3 4 48 / 64 Universe in Statistics means:All celestial bodies.People living on the earth.People or things about which we are conducting a study or survey.All of the above. 1 2 3 4 49 / 64 . In relation to the means to satisfy them, human wants are always ________ .Meager.Scarce.Sufficient.Unlimited. 1 2 3 4 50 / 64 Statistics means:Quantitative facts.Qualitative facts.Both (1) and (2).None of these. 1 2 3 4 51 / 64 Statistical data are used for knowing about the progress in the:Techniques of production.Volume of production.Imports and exports.All of the above. 1 2 3 4 52 / 64 Which of the following is an economic activity?ProductionConsumptionDistributionAll of these 1 2 3 4 53 / 64 Which economic activity deals with the use of goods and services for the satisfaction of human wants?Consumption.Exchange.Distribution.Production. 1 2 3 4 54 / 64 With regards to distrust of Statistics, which of the following statements is not correct?Statistics is a rainbow of lies.Statistics are tissues of falsehood.Statistics express the facts in numbers.There are three kinds of lies-lies, damned lies and statistics. 1 2 3 4 55 / 64 Which of the following is correct regarding Statistics?Aggregate of facts.Numerically expressed.Affected by multiplicity of causes.All of these 1 2 3 4 56 / 64 A teacher has taught one student who scored 95 marks, she claims that her 100% students have secured more than 90%. What is she doing?She is presenting the data.She is publishing the data.She is interpreting the data.She is misusing the statistics. 1 2 3 4 57 / 64 The resources available with the given producer are:Limited.Have alternative uses.Unlimited.Both (1) and (2). 1 2 3 4 58 / 64 Which of the following situations is the root cause of all economic problems?Misallocation.Scarcity.Under consumption.Overproduction. 1 2 3 4 59 / 64 The statistical study begins with collection of data and ends with:Organization of data.Analysis of data.Interpretation of data.None of the above. 1 2 3 4 60 / 64 Which definition was given by Adam Smith?Welfare Definition.Scarcity Definition.Wealth Definition.Growth Oriented Definition. 1 2 3 4 61 / 64 Who produces goods and services for the generation of income?Consumer.Producer.Both (a) and (b).None of the above. 1 2 3 4 62 / 64 Statistics in a plural sense indicates:Statistical data.Statistical methods.Inductive statistics.Descriptive statistics. 1 2 3 4 63 / 64 In which process, raw material is converted into end products having utility?Consumption.Production.Investment.Exchange. 1 2 3 4 64 / 64 "In statistics, homogeneity of data is not an essential requirement." The given statement is:True.False.Partly true.None of these.11 1 2 3 4 Your score isThe average score is 0% 0% Restart quiz ORGANISATION OF DATA 1 / 77 . Frequency of a variable is always:A fraction.In percentage.An integer.None of these. 1 2 3 4 2 / 77 1 2 3 4 3 / 77 In an ordered series, the data are:In descending order.In ascending order.Either (1) or (2).None of these. 1 2 3 4 4 / 77 A frequency distribution table showing value of sales in different columns and advertisement expenditure in different rows is termed as:bilateral frequency distribution.univariate frequency distribution.multivariate frequency distribution.None of these. 1 2 3 4 5 / 77 The number of observations falling within a class is called:Density.Frequency.Both (1) and (2).None of these. 1 2 3 4 6 / 77 For determining the class frequencies, it is necessary that these classes are:Mutually exclusive.Not mutually exclusive.Independent.None of these. 1 2 3 4 7 / 77 The upper limit of class-intervals is considered for calculating:‘Less than’ cumulative frequency.‘More than’ cumulative frequency.Relative frequency.None of these. 1 2 3 4 8 / 77 1 2 3 4 9 / 77 1 2 3 4 10 / 77 The following alternatives is true?The frequency distribution of two variables is known as:Univariate Distribution.Bivariate Distribution.Multivariate Distribution.None of the above. 1 2 3 4 Statistical calculations in classified data are based on the class midpoints. This classified data or continuous series can take any numerical value, and hence, the class midpoint is used to represent the class. 11 / 77 The Frequency distribution of a continuous variable is known as:Grouped frequency distribution.Simple frequency distribution.Either (1) or (2).Both (1) and (2). 1 2 3 4 12 / 77 The characteristic of a fact that can be measured in the form of numerical aptitude refers to:Variable.Attribute.Frequency.None of the above. 1 2 3 4 13 / 77 Nationality of a student is:An attribute.A discrete variable.A continuous variable.Either (1) or (3). 1 2 3 4 14 / 77 A grouped frequency distribution with uncertain first or last class is known as:Exclusive class distribution.Inclusive class distribution.Open end distribution.Discrete frequency distribution. 1 2 3 4 15 / 77 For the mid-values given: 25, 34, 43, 53, 61, 70, the first class of the distribution is: 25-34 24.5-34.5 20-30 20.5-29.5 1 2 3 4 16 / 77 A frequency distribution is comprehensive way to classify _______________ data of a quantitative variable:Meaningful.Financial.Economical.Raw. 1 2 3 4 17 / 77 Which of the following is the objective of classification?Simplification.Briefness.Comparability.All of these. 1 2 3 4 18 / 77 Which is an attribute out of the following?Height.Weight.Intelligence.Age. 1 2 3 4 19 / 77 Classes with zero frequencies are called:Class.Empty class.Nil class.None of these. 1 2 3 4 20 / 77 Annual income of a person is:A continuous variable.A discrete variable.An attribute.(3) and (1). 1 2 3 4 21 / 77 In a frequency distribution, the class may be:Singular or plural.Subjective or objective.Individual or discrete.Inclusive or exclusive. 1 2 3 4 22 / 77 Statistical calculations in classified data are based on:The actual values of the items.The upper class limits.The lower class limits.The mid-points. 1 2 3 4 23 / 77 1 2 3 4 24 / 77 In an individual series, each variate value has:Varied frequency.Frequency one.Same frequency.Frequency two. 1 2 3 4 25 / 77 An attribute is:A qualitative characteristic.A measurable characteristic.A quantitative characteristic.All these. 1 2 3 4 26 / 77 In the construction of a frequency distribution, it is generally preferable to have classes of:Equal width.Unequal width.Maximum width.None of these. 1 2 3 4 27 / 77 The change in the value of continuous variable can occur:Only in integral values.Only in fractional values.In both integral and fractional values.None of the above. 1 2 3 4 28 / 77 Classification of population of India in terms of years is an example of:Geographical classification.Chronological classification.Quantitative classification.Qualitative classification. 1 2 3 4 29 / 77 A series showing the sets of all distinct values individually with their frequencies is known as:Grouped frequency distribution.Simple frequency distribution.Cumulative frequency distribution.None of these. 1 2 3 4 30 / 77 An employer wants to make transfers for his employees to other branches for which he needs to divide them into five groups. He considered the place of residence to make a decision. He made use of:Quantitative Classification on.Qualitative Classification.Chronological Classification.Spatial Classification. 1 2 3 4 31 / 77 13 A continuous series can be of which of the following types?Inclusive series.Exclusive series.Mid value series.Both (1) and (2). 1 2 3 4 32 / 77 1 2 3 4 33 / 77 Upper limit of any class is:Same.Different.Both (1) and (2) are possible.None of these. 1 2 3 4 34 / 77 When raw data is classified on the basis of time period, it is referred to as:Chronological Classification.Spatial Classification.Qualitative Classification.Quantitative Classification. 1 2 3 4 35 / 77 In exclusive class intervals of a frequency distribution:Upper limit of each class-interval is excluded.Lower limit of each class-interval is excluded.Both (a) and (c)None of these. 1 2 3 4 36 / 77 Tally marks determines:Class width.Class boundary.Class limit.Class frequency. 1 2 3 4 37 / 77 If we group students in a class on the basis of their marks, we are making use of:Quantitative Classification.Qualitative Classification.Chronological Classification.Spatial Classification. 1 2 3 4 38 / 77 The lower class boundary is:An upper limit to lower class limit.A lower limit to lower class limit.Both (1) and (2).None of these. 1 2 3 4 39 / 77 The frequency distribution of a single variable is called:Bivariate distribution.Univariate distribution.Cumulative frequency distribution.Discrete variable distribution. 1 2 3 4 40 / 77 Mutually exclusive classification is usually meant for:An attribute.A continuous variable.A discrete variable.Any of these. 1 2 3 4 41 / 77 For the construction of a grouped frequency distribution, we take:Class boundaries.Class limits.Both (1) and (2).None of these. 1 2 3 4 42 / 77 In the exclusive method:He upper class limit is excluded but lower class limit is included.The lower class limit is excluded but upper class limit is included.Both the upper class limit and lower class limit are included.None of these. 1 2 3 4 43 / 77 Daily pocket money of five students of class XI are as follows: 20, 25, 40, 45, 60. What will be the range of the data? 40 25 30 60 1 2 3 4 Range of data = Highest value - Lowest value.= 60 - 20= 40 44 / 77 The difference between upper limit and lower limit of a class is known as:Range.Magnitude of a class interval.Frequency.Class limits. 1 2 3 4 45 / 77 Statistical calculations in classified data are based on:The class midpoints.The upper class limits.The actual value of observation.The lower class limits. 1 2 3 4 46 / 77 Drinking habit of a person is:An attribute.A discrete variable.A variable.A continuous variable. 1 2 3 4 47 / 77 Classification of data on the basis of time period is called:Geographical classification.Chronological classification.Qualitative classification.Quantitative classification. 1 2 3 4 48 / 77 A teacher divided her students in two groups on the basis of the game they play. She made use of:Quantitative Classification.Qualitative Classification to all.Chronological Classifications.Spatial Classification. 1 2 3 4 49 / 77 A series showing the sets of all values in classes with their corresponding frequencies is known as:Grouped frequency distribution.Cumulative frequency distribution.Simple frequency distribution.None of the above. 1 2 3 4 50 / 77 Objects are classified as living and nonliving. This is an example of:Geographical classification.Chronological classification.Qualitative classification.Quantitative classification. 1 2 3 4 51 / 77 The data classified with reference to countries is called:Spatial.Chronological.Both (1) and (2).None of these. 1 2 3 4 52 / 77 The most important aspect of organizing data is to __________ it:Tabulate.Tdit.Classify.None of these. 1 2 3 4 53 / 77 The class marks of a distribution are 26, 31, 36, 41, 46 and 51. Then the first-class interval is: 1. 23.5-28.5 23-28 22.5-27.5 None of these. 1 2 3 4 54 / 77 The arrangement of raw data in ascending or descending order of magnitude is referred as:Array.Frequency distribution.Tally bars.Series. 1 2 3 4 55 / 77 Class mid-values of a frequency distribution of marks (in statistics) of students of class XI are given as 46, 53 and 60 What will be the size of the class? 571015 1 2 3 4 Size of class interval = Mutual difference of given mid - values.= 53 - 46 OR 60 -53= 07 56 / 77 In case of inclusive method:Upper limit of class interval is excluded.Lower limit of class interval is excluded.Both upper limit and lower limit are included.Both upper limit and lower limit are excluded. 1 2 3 4 57 / 77 In inclusive class-intervals of a frequency distribution:Upper limit of each class-interval is included.Lower limit of each class-interval is included.Both (1) and (2).None of these. 1 2 3 4 58 / 77 Mutually exclusive classification:Excludes the upper-class limit but includes the lower-class limit.Excludes both the class limits.Includes the upper-class limit but excludes the upper-class limit.Either (2) or (3). 1 2 3 4 59 / 77 When data are classified on the basis of time, it is known as:Conditional classification.Geographical classification.Chronological classification.None of the above. 1 2 3 4 60 / 77 A frequency distribution can be:Discrete.Continuous.Both (1) and (2).None of these. 1 2 3 4 61 / 77 Formula for finding mid-value is given by: 1. I2 − I1 l2 − l12 I1 + I2 l1 + l22 1 2 3 4 62 / 77 Range is the:Difference between the largest and the smallest observations.Division between the smallest and the largest observations.Average of the largest and the smallest observations.Ratio of the largest to the smallest observations. 1 2 3 4 63 / 77 The lower-class boundary is:An upper limit to Lower Class Limit.A Lower limit to Lower Class Limit.Both (1) and (2).None of these. 1 2 3 4 64 / 77 Are the following alternatives true?Range is the:Difference between the largest and the smallest observations.Difference between the smallest and the largest observations.Average of the largest and the smallest observations.Ratio of the largest to the smallest observation. 1 2 3 4 Range is defined as the difference between the largest and the smallest observations. Algebraically,R = H - LWhere,R denotes rangeH is the highest value L is the lowest value 65 / 77 Range of a frequency distribution is equal to:Largest value-Smallest value.Number of classes x Class Interval (when class intervals are the same).Both (1) and (2).None of the above. 1 2 3 4 66 / 77 The value exactly at the middle of a class -interval is called:Class mark..Mid-value.Both (1) and (2).None of these. 1 2 3 4 67 / 77 A variable which can take integral as well as fractional values is known as:Discrete variable.Continuous variable.Constant variable.All of the above. 1 2 3 4 68 / 77 A continuous variable can take:integral values.discrete values.Both (1) and (2).None of these. 1 2 3 4 69 / 77 When we want to classify the data given in numerical terms, which method of classification of data is used?Qualitative classification.Quantitative classification.Chronological classification.Conditional classification. 1 2 3 4 70 / 77 1 2 3 4 71 / 77 From the following data, how much percent of person are earning more than 1499: 1. 50% 45% 40% 60% 1 2 3 4 72 / 77 In a series, the number of times an item occurs is known as:Number.Class frequency.Frequency.Cumulative frequency. 1 2 3 4 73 / 77 Raw data is made comprehensible by:Collection of data.Classification of data.Organization of data.Presentation of data. 1 2 3 4 74 / 77 Are the following alternatives true?The class midpoint is equal to:The average of the upper class limit and the lower class limit.The product of the upper class limit and the lower class limit.The ratio of the upper class limit and the lower class limit.None of the above. 1 2 3 4 75 / 77 Under exclusive method:The upper class limit of a class is excluded in the class –interval.The upper class limit of a class is included in the class-interval.The lower class limit of a class is excluded in the class interval.The lower class limit of a class is included in the class interval. 1 2 3 4 76 / 77 Most extreme values which are never included in a class-interval are called:Class-interval.Class limits.Cass boundaries.None of these. 1 2 3 4 77 / 77 _______ are the two ends of a class:Class limits.Class widths.Class frequencies.None of these. 1 2 3 4 Your score isThe average score is 0% 0% Restart quiz MEASURES OF DISPERSION 1 / 87 Which of the following measure of dispersion is useful in certain advanced statistical problems?1. Lorenz curve.2. Standard Deviation.3. Mean Deviation.4. Quartile Deviation 1 2 3 4 2 / 87 The second quartile is known as _________.1. Median.2. Lower quartile.3. Upper quartile.4. None of these 1 2 3 4 3 / 87 ______ of dispersion expresses the variability of data in terms of the original unit.1. Relative measure.2. Absolute measure.3. Standard deviation.4. None of these. 1 2 3 4 4 / 87 Standard deviation is always computed from:1. Mean.2. Mode.3. Median.4. Geometric mean. 1 2 3 4 5 / 87 Main advantage of standard deviation is that it:1. Is difficult to understand and compute.2. Is not capable of further algebraic treatment.3. Ignores extreme values.4. Takes algebraic signs in consideration. 1 2 3 4 6 / 87 What will be the value of coefficient of range for the following data?X: 10, 20, 30, 40, 501. 50%2. 66%3. 60%4. None of these Answers. 1 2 3 4 7 / 87 1 2 3 4 8 / 87 When dispersion of the series is expressed in terms of some relative value, it is called:1. Relative measure.2. Absolute measure.3. Range.4. None of these. 1 2 3 4 9 / 87 Which is the crudest measure of dispersion?1. Range.2. Inter-Quartile Range.3. Semi-Inter-Quartile Range.4. Mean Deviation. 1 2 3 4 10 / 87 The most commonly used measure of dispersion is:1. Range.2. Standard deviation.3. Coefficient of variation.4. Quartile deviation. 1 2 3 4 11 / 87 The range represents the:1. Difference between the highest and lowest value.2. Middle number.3. Lowest number.4. Highest number. 1 2 3 4 12 / 87 Mean deviation is affected by change in:1. Origin.2. Scale.3. Both (1) and (2).4. Neither (1) nor (2). 1 2 3 4 13 / 87 If a constant quantity is subtracted from every observation in a data set, then the range of the resulting set ofvalues will be equal to:1. Range of the original data set plus the constant quantity.2. Range of the original data set minus the constant quantity.3. Range of original data set.4. Range of the original data set divided by the constant quantity 1 2 3 4 14 / 87 In a Lorenz curve, cumulative frequencies are plotted:1. Along the X-axis.2. Along the Y-axis.3. Either along the X-axis or along the Y-axis.4. None of the above. 1 2 3 4 15 / 87 Which of the following is a unit less measures of dispersion?1. Standard deviation.2. Coefficient deviation.3. Mean deviation.4. Range. 1 2 3 4 16 / 87 Which measure of dispersion has a different unit other than the unit of measurement of values?1. Range.2. Variance.3. Standard deviation.4. Mean deviation. 1 2 3 4 17 / 87 1 2 3 4 18 / 87 1. Median.2. 1st quartile.3. 3rd quartile.4. 1st decile. 1 2 3 4 19 / 87 1 2 3 4 20 / 87 The standard deviation of a data set is expressed in the:1. Same unit as the observations in the data set.2. Square of the unit of the observation.3. Square root of the unit of the observation.4. None of the above. 1 2 3 4 21 / 87 . 10th percentile is equal to:1. 1st decile.2. 10th decile.3. 9th decile.4. None of these. 1 2 3 4 22 / 87 The measure of variation which is mostly affected by extreme items is:1. Range.2. Quartile deviation.3. Mean deviation.4. Standard deviation. 1 2 3 4 23 / 87 1 2 3 4 24 / 87 1 2 3 4 25 / 87 Quartile deviation is called:1. Quartile range.2. Inter quartile range.3. Both (1) and (2).4. None of these. 1 2 3 4 26 / 87 Mean deviation is the _____ of the deviations of the items taken either from mean or from median.1. sum.2. product.3. average.4. None of the above. 1 2 3 4 27 / 87 A Lorenz curve is used to measure:1. Correlation.2. Variation.3. Arrangement of frequencies.4. Association of attributes. 1 2 3 4 28 / 87 What is the coefficient of range for the following wages (in) of 8 workers?80, 65, 90, 60, 75, 70, 72, 851. 352. 253. 304. 20 1 2 3 4 29 / 87 Range represents ________ about a data.1. narrow picture.2. broad picture.3. exact picture.4. None of these. 1 2 3 4 30 / 87 1 2 3 4 31 / 87 Study the Lorenz curve given below which depicts the maximum temperature of two cities, M and N in a month.Which city exhibits greater variability in temperature?1. City M2. City N3. Neither (1) nor (2)4. Both (1) and (2) 1 2 3 4 32 / 87 If the first quartile is 104 and quartile deviation is 8, the third quartile is:1. 1302. 1363. 1204. 146 1 2 3 4 33 / 87 Quartile deviation is based on the:1. Highest 50% of the items.2. Lowest 25% of the items.3. Highest 25% of the items.4. Middle 50% of the items. 1 2 3 4 34 / 87 The range of 15, 12, 10, 9, 17, 20 is:1. 52. 123. 134. 11 1 2 3 4 35 / 87 1 2 3 4 36 / 87 The values which divide the total number of observations into 10 equal parts are:1. Quartiles.2. Percentiles.3. Deciles.4. None of these. 1 2 3 4 37 / 87 If the minimum value in a set is 19 and its range is 3, the maximum value of the set is:1. 332. 483. 224. 16 1 2 3 4 38 / 87 The dispersion measure least affected by extreme value is:1. SD.2. Range.3. QD.4. MD. 1 2 3 4 39 / 87 The standard deviation of 25 numbers is 0. If each of the numbers is increased by 5, then the new standarddeviation will be:1. 452. 403. 41.54. 55 1 2 3 4 40 / 87 For comparison of two different series, the best measure of dispersion is:1. Mean deviation.2. Range.3. Standard deviation.4. Coefficient of variation. 1 2 3 4 41 / 87 Which of the co-efficient is usually expressed in percentage terms?1. Co-efficient of Range.2. Co-efficient of Quartile Deviation.3. Co-efficient of Mean Deviation.4. Co-efficient of Variation. 1 2 3 4 42 / 87 ______ divide the total number of observations into 4 equal parts.1. Median.2. Deciles.3. Quartiles.4. Percentiles. 1 2 3 4 43 / 87 What is the value of mean deviation about mean for the following numbers?5, 8, 6, 3, 41. 5.202. 7.203. 1.444. 2.23 1 2 3 4 44 / 87 The measure of dispersion which is independent of frequencies of the given distribution, is:1. Range.2. SD.3. MD.4. QD. 1 2 3 4 45 / 87 World bank wants to measure the degree of inequality in the distribution of income and wealth among differentcountries of the world. The most suitable method of dispersion will be:1. Range.2. Inter-quartile range.3. Lorenz curve.4. Standard deviation. 1 2 3 4 46 / 87 For calculating range for a continuous series, the distribution should be:1. Inclusive.2. Exclusive.3. Either (1) or (2).4. None of the above. 1 2 3 4 47 / 87 1 2 3 4 48 / 87 Which of the following measures is least affected by extreme items?1. Quartile deviation.2. Range.3. Standard deviation.4. Mean deviation. 1 2 3 4 49 / 87 The standard deviation of 10, 16, 10, 16, 10, 10, 16, 16 is:1. 42. 63. 34. 0 1 2 3 4 50 / 87 ________ quartile is known as Upper quartile.1. First.2. Second.3. Third.4. None of these. 1 2 3 4 51 / 87 1 2 3 4 52 / 87 The range of the following set of observations 12,13,15,19,18,7,6,5,7,4,3 is: 1. 5.52. 163. 84. 11 1 2 3 4 53 / 87 One of the measures of dispersion which is more useful in case of open-ended distribution, is:Range.Standard deviation.Mean deviation.Quartile deviation. 1 2 3 4 54 / 87 1 2 3 4 55 / 87 If 25% of the items are less than 20 and 25% are more than 40, then the quartile deviation is: 1. 20 30 40 10 1 2 3 4 56 / 87 When it comes to comparing two or more distributions we consider:Absolute measures of dispersion.Relative measures of dispersion.Both (1) and (2).Either (1) or (2). 1 2 3 4 57 / 87 The square of standard deviation is known as:Mean deviation.Variance.Standard deviation.Quartile deviation. 1 2 3 4 58 / 87 ___________ is defined as the ratio of the difference between the largest and smallest value to their sum.Range.Coefficient of range.Both (1) and (2).None of the above. 1 2 3 4 59 / 87 Mean deviation is a method used for assessing dispersion on the basis of:Spread of values.Central value.Both (1) and (2).None of these. 1 2 3 4 60 / 87 Standard deviation is _______ of the arithmetic average of the squares of the deviations measured from the mean.square root.cube root.sum total.None of the above. 1 2 3 4 61 / 87 1 2 3 4 62 / 87 Standard deviation is ________ measure of dispersion.absolute.relative.crude.Both (a) and (b). 1 2 3 4 63 / 87 The appropriate measure of dispersions for open-end classification is:Mean deviation.Quartile deviation.Standard deviation.All these measures. 1 2 3 4 64 / 87 Which measure of dispersion is based on the absolute deviations only?Standard deviation.Mean deviation.Range.Quartile deviation. 1 2 3 4 65 / 87 To define quartile deviation we use:Lower & middle quartiles.Lower & upper quartiles.Upper & middle quartiles.None of these. 1 2 3 4 66 / 87 Greater the value of standard deviation is the consistency of data.lesser.greater.constant.None of the above. 1 2 3 4 67 / 87 Standard deviation of a sample of 100 observations equals 64. Variance of sample equals: 8 10 6,400 4,096 1 2 3 4 68 / 87 Mean deviation can be computed from:Mean.Median.Mode.Both (1) and (2). 1 2 3 4 69 / 87 In statistics, ______ of a set of data is the difference between the largest and smallest value.quartile.range.interquartile range.quartile deviation. 1 2 3 4 70 / 87 Which measures of dispersion are the quickest to compute?Mean deviation.Quartile deviation.Range.Standard deviation. 1 2 3 4 71 / 87 _________ is an absolute measure of dispersion.Range.Mean deviation.Standard deviation.All of these. 1 2 3 4 72 / 87 Mean deviation is a/ an _______ measure of dispersion.absolute.relative.exact.None of these. 1 2 3 4 73 / 87 If mean and coefficient of variation of a set of data is 10 and 5, respectively, then the standard deviation is: 10 3 0.5 5 1 2 3 4 74 / 87 The values which divide the total number of observations into 100 equal parts is:Percentiles.Quartiles.Deciles.None of these. 1 2 3 4 75 / 87 Coefficient of variation is:Absolute measure.Relative measure.Both (1) and (2).None of these. 1 2 3 4 76 / 87 Which measure of dispersion which ignores signs of the deviations from a central value is:Standard deviation.Quartile deviation.Mean deviation.Range. 1 2 3 4 77 / 87 The measures based on every item of the series is:Range.Standard deviation.Quartile deviation.All of these. 1 2 3 4 78 / 87 Which measure of dispersion is not affected by the presence of extreme observations?Standard deviation.Mean deviation.Range.Quartile deviation. 1 2 3 4 79 / 87 Standard deviation is:Absolute measure.Relative measure.Both (1) and (2).None of these. 1 2 3 4 80 / 87 Which of the following two measures of dispersion are based upon deviations of values from the average?Mean deviation and standard deviation.Standard deviation and quartile deviation.Range and quartile deviation.Mean deviation and quartile deviation. 1 2 3 4 81 / 87 Which measure is based on only the central fifty percent of the observations?Standard deviation.Mean deviation.Quartile deviation.All these measures. 1 2 3 4 82 / 87 If all the observations of a series are multiplied by 5 then:S.D. of a series would be decreased by 5.S.D. of a series would be half of the previous S.D.S.D. of a series would be increased by 5.S.D. of a series would be also multiplied by 5. 1 2 3 4 83 / 87 Which of the following is a unit free number?SDVarianceMDCV 1 2 3 4 84 / 87 Which one is an absolute measure of dispersion?Mean deviation.Standard deviation.Range.All these measures. 1 2 3 4 85 / 87 Semi-inter quartile range is also known as:Mean deviation.Quartile deviation.Quartile range.Standard deviation. 1 2 3 4 86 / 87 Which of the following measures of dispersion can attain a negative value?Range.Variance.Standard deviation.Mean deviation. 1 2 3 4 87 / 87 Lower quartile is:First quartile.Second quartile.Upper quartile.None of these. 1 2 3 4 Your score isThe average score is 0% 0% Restart quiz INTRODUCTION TO MICRO-ECONOMIC 1 / 101 In free market economy, the allocation of resources is determined by .Votes by consumers.A central planning authority.Consumer preference.The level of profits of firms. 1 2 3 4 2 / 101 Which one of the following is not the feature of socialist economy?Social welfare.Freedom of enterprise.Public ownership.Planning mechanism. 1 2 3 4 3 / 101 When there is use of outdated technology in the production then, the production possibility curve will:Shift to right.Shift to the left.Become a straight line.Remain the same. 1 2 3 4 When the resources are destroyed or there is a use of outdated technology, then production of an economy goes down and as a result the production possibility curve will shift to the left. 4 / 101 If marginal rate of transformation remains constant, the production possibility curve will be:Hyperbola.Convex.Concave.Straight line. 1 2 3 4 5 / 101 __________ are the important tools of macroeconomic studies.Demand and supply.Aggregate demand and aggregate supply.Exports and imports.All of the above. 1 2 3 4 6 / 101 Indian economy is a mixed economy because:Agriculture and industry have both simultaneously developed in India.Agriculture and industry have both developed in the public sector.Private ownership and public ownership over means of production co-exist.None of the above. 1 2 3 4 7 / 101 Which one of the following bundles of goods cannot be produced with the resources the economy currently has?A.B.C.D. 1 2 3 4 8 / 101 ____________ economics states 'what is' and not 'what should be’:Positive.Normative.Modern.None of these. 1 2 3 4 9 / 101 The usual shape of Production Possibility Curve is towards the origin.Convex.Concave.Straight line.Rectangular. 1 2 3 4 10 / 101 Economics is:The study of stocks and bond markets.Mainly the study of business firms.The problem of choice under scarcity.The study of management decisions. 1 2 3 4 11 / 101 Which of the following clearly represents a movement toward greater productive efficiency?A movement from point A to point B.A movement from point C to point D.A movement from point F to point C.A movement from point E to point B. 1 2 3 4 12 / 101 Which of the following is related to microeconomics?Inflation in the economy.Problem of unemployment.National Income.Income from the railways. 1 2 3 4 13 / 101 _________ is a system in which people earn livelihood to fulfill their wants.Abroad.Market.Economy.Village. 1 2 3 4 14 / 101 Central problem of an economy can be:What goods to produce and how much to produceHow to produceFor whom to produceAll of the above 1 2 3 4 15 / 101 If PPC shifts to the left, it means:Resources are destroyedMore unemploymentUse of outdated technologyAll of the above 1 2 3 4 16 / 101 If an earthquake takes place, then what will happen to PPC?Shifts inwardRemains sameShifts outwardAll of the above 1 2 3 4 17 / 101 What is the shape of the production possibility curve?Convex.Concave.Straight line.None of these. 1 2 3 4 18 / 101 Which of the following is not a macro variable?Wholesale price index.Output of firm.Aggregate demand.Aggregate supply 1 2 3 4 v 19 / 101 When there is an improvement in technology, holding everything else constant:The production possibilities frontier shifts inward.The production possibilities frontier shifts upward.The production possibilities frontier remains the same.The production possibilities frontier shifts downwards. 1 2 3 4 20 / 101 If PPC shifts to the right, it means:Discovery of new stockAdvancement in technologyGeneration of employmentAll of the above 1 2 3 4 21 / 101 According to economic growth, Production Possibility Curve will show .A downward shift.An inward shift.An outward shift.No effect. 1 2 3 4 22 / 101 PPC will be a straight line when MOC will be:Falling.Rising.Constant.Zero. 1 2 3 4 23 / 101 The various combinations of goods that can be produced in any economy when it uses its available resources 5 and technology efficiently are depicted by.Demand curve.Production curve.Supply curve.Production possibilities curve. 1 2 3 4 24 / 101 An economy is broadly classified as:Market economy.Centrally planned economy.Mixed economy.All of the above. 1 2 3 4 25 / 101 Which of the following is not a subject matter of microeconomics?Consumer's behavior.Market structure.Monetary Policy.Pricing of factor services. 1 2 3 4 26 / 101 An economy in which all economic activities are organized through the market is called:Mixed economy.Market economy.Centrally planned economy.None of these 1 2 3 4 27 / 101 Production Possibilities Curve is also known as.Demand curve.Supply curve.Indifference curve.Transformation curve. 1 2 3 4 28 / 101 Which one of the following statements is a reason for the negative slope of PPF?The inverse relationship between the use of technology and the use of natural resources.Scarcity at any point of time due to limited amounts of productive resources.Resource specialization.Increasing opportunity costs. 1 2 3 4 29 / 101 In economics, scarcity refers to a situation when:Demand for goods exceeds its supply.Supply of goods exceeds its demand.Supply of goods is equal to its demand.Both (1) and (2). 1 2 3 4 30 / 101 Central economic problems are the problems of a ____________ .Market economy.Socialist economy.Mixed economy.All of these. 1 2 3 4 31 / 101 The causes of economic problem include:Human wants are unlimited.Economic resources are limited.Resources have alternative uses.All of the above. 1 2 3 4 32 / 101 Consuming two goods, consumer attains equilibrium when:MU1 > MU2MU2> MU1MU1 = MU2TU1 = TU2 1 2 3 4 33 / 101 Who controls economic activities under centrally planned economies?Industrialists.Private firms.Government.Consumers. 1 2 3 4 34 / 101 Which of the following is not concerned with the problem of choice?Excessive income.Alternative use of resources.Unlimited wants.Limited (scarce) resources. 1 2 3 4 35 / 101 Which of the following questions is/ are part of normative economics?What are the causes of unemployment?Why are prices rising?Was demonetisation justified?All of the above. 1 2 3 4 36 / 101 Theory of distribution studies the problem of:What goods to produce and how much to produceHow to produceFor whom to produceAll of the above 1 2 3 4 37 / 101 Opportunity cost is:The additional benefit of buying an additional unit of a product.The cost incurred in the past before we make a decision about what to do in future.A cost that is borne in terms of discomfort and pain while supplying factors of production.That which we forgo, or give up, while making a choice or a decision. 1 2 3 4 38 / 101 Which point is not attainable?Point NPoint MPoint RPoint S 1 2 3 4 39 / 101 PP’ shifts rightwards to P1P1ʹ. It shows:Improvement in technology in good XImprovement in technology in good YImprovement in technology in both good X and good YStagnation 1 2 3 4 40 / 101 Labour intensive technique is chosen in a.Labour surplus economy.Capital surplus economy.Developed economy.Developing economy. 1 2 3 4 41 / 101 Example of micro economic variable is:Wholesale price index.National income.Market demand.Aggregate demand. 1 2 3 4 42 / 101 Production possibility curve is concave to the origin due to:Decreasing MRT.Increasing MRT.Constant MRT.Zero MRT. 1 2 3 4 Production possibility curve is concave to the origin because of increasing MRT, i.e. increasing marginal opportunity cost which implies that for producing an additional unit of a good, sacrifice of units of other goods goes on increasing. 43 / 101 Which point on PPF shows a "productively efficient" level of output?ABCAll of the above. 1 2 3 4 44 / 101 When marginal utility is negative, total utility is:Zero.Diminishing.Maximum.Minimum. 1 2 3 4 45 / 101 Who is the father of economics?Karl Marx.J.M. Keynes.Adam Smith.Alfred Marshall. 1 2 3 4 46 / 101 Smooth PPC is based on the assumption that:Infinite production possibilities existLimited production possibilities existTwo production possibilities existNone of the above 1 2 3 4 47 / 101 PPC is also called:Opportunity cost curveTransformation curveProduction possibility frontierAll of the above 1 2 3 4 48 / 101 The opportunity cost of watching a movie will be equal to:The time lost while watching the show.The pleasure that could have been enjoyed watching TV instead.The pleasure enjoyed by watching the show.The amount paid to buy the tickets. 1 2 3 4 49 / 101 If the PPF is linear, i.e., a straight line, which one of the following statements is true?As the production of a good increases, the opportunity cost of that good rises.As the production of a good increases, the opportunity cost of that good falls.Opportunity costs are constant.The economy is not at full employment when operating on the PPF. 1 2 3 4 50 / 101 1 2 3 4 51 / 101 Which of the following would not result in a rightward shift in the PPC?Increase in investment in capital stock.Brain drain of younger workers.Discovery of new oil deposits.Increase in number of people. 1 2 3 4 52 / 101 Which of the following central problems of an economy deals with the distribution of National Income?How to produce?What to produce?For whom to produce?None of the above 1 2 3 4 53 / 101 1 2 3 4 54 / 101 Shape of PPC is:Downward sloping concave to the originDownward sloping convex to the originDownward sloping straight line to the originAll of the above 1 2 3 4 55 / 101 An economy achieves “productive efficiency” when:Resources are employed in their most highly valued uses.The best resources are employed.The total number of produced goods is the greatest.Goods and services are produced at least cost and no resources are wasted. 1 2 3 4 56 / 101 Scarcity is a situation in which.Wants exceed the resources available For to satisfy the theme.Something is being wasted.People are poor.None of them. 1 2 3 4 57 / 101 Best shape of PPC reflects ______ .Diminishing opportunity cost.Constant opportunity cost.Increasing opportunity cost.None of the above. 1 2 3 4 58 / 101 PPC can effectively explain the central problem of:What to produceHow to produceEconomic growthAll of the above 1 2 3 4 59 / 101 The branch of economic theory that deals with the problem of allocation of resources is:Microeconomic theory.Macroeconomic theory.Econometrics.None of them. 1 2 3 4 60 / 101 Production possibility curve shifts rightward due to:Growth of resources.Improvement in technology.Overtime work.Both (1) and (2). 1 2 3 4 The production possibility curve will shift rightward under the following two conditions:Growth of natural resources in the economy.Technological advancement due to import or research and development. 61 / 101 A lot of people die and many factories are destroyed due to floods in the country. How will it affect the production possibility curve?PPC will shift towards rightPPC will shift towards the left.PPC will remain the sameNone of the above. 1 2 3 4 62 / 101 3 20 2.5 3.5 1 2 3 4 63 / 101 What would be the shape of the production possibility curve?Convex.Concave.Straight line.None of these. 1 2 3 4 In the above schedule, the MRT is 5 units of goods 'B' sacrificed to produce 1 unit of goods ‘A’. MRT is constant therefore production possibility curve is a straight line negatively sloped. 64 / 101 is a curve, which shows various combinations of two goods that can be produced with given resources and technology.Indifference curve.Production possibility curve.Demand curve.Supply curve. 1 2 3 4 65 / 101 Macroeconomics deals with:Theory of distributionTheory of income and employmentTheory of economic growthAll of the above 1 2 3 4 66 / 101 Theory of production studies the problem of:What goods to produce and how much to produceHow to produceFor whom to produceAll of the above 1 2 3 4 67 / 101 In the given figure, the movement on the production possibility curve from point A to point B shows. (Choose the correct alternative).Growth of all the resources in the economy.Underutilisation of resources.Production of more units of good X and less units of good Y.Production of more units of good Y and less units of good X. 1 2 3 4 68 / 101 The problem of what to produce is related with:Types of goods to be produced.Types of production technique to be used.Quantity of goods to be produced.Both (1) and (3). 1 2 3 4 69 / 101 The following table show the production of cricket bats and sarees of an imaginary economy:If the production of cricket bats is increased from 3 thousand to 4 thousand, how much production of sarees will he to be sacrificed by the economy?Zero.8 lakh sarees.30 lakh sarees.20 lakh sarees. 1 2 3 4 70 / 101 Price theory deals with:Product pricingFactor pricingWelfare economicsAll of the above 1 2 3 4 71 / 101 Assumption of PPC is/ are:There are only two goodResources are not specificResources are fully employedAll of the above 1 2 3 4 72 / 101 Economic problem arises because:Wants are unlimitedResources are scarceAlternative uses of resources existAll of the above 1 2 3 4 73 / 101 If on a piece of land, a farmer can produce either 1000kg rice or 1500kg pulses with given resources, then find the opportunity cost of producing pulses.1500kg pulses.1000kg rice.1000kg pulses.1.5kg rice. 1 2 3 4 Opportunity cost of producing 1500kg pulses is the production of 1000 kg rice sacrificed. 74 / 101 Increase (growth) of resources implies that production possibility curve:Shifts to the Right.Shifts to the left.Rotates to the right.None of these. 1 2 3 4 75 / 101 Price theory studies the problem of:What goods to produce and how much to produce.How to produce.For whom to produce.All of the above. 1 2 3 4 76 / 101 If the marginal (additional) opportunity cost is a constant, PPC would be:Convex.A straight line.Backward bending.Concave. 1 2 3 4 77 / 101 The central problem in economics is that ofComparing the success of command versus market economies.Guaranteeing that production occurs in the most efficient manner.Guaranteeing a minimum level of income for every citizen.Allocating scarce resources in such a manner that society's unlimited needs or wants are satisfied in the best possible manner. 1 2 3 4 78 / 101 The study of microeconomics and macroeconomics is _________ .Independent of each other.Interrelated to each other.Both (1) and (2).None of the above. 1 2 3 4 79 / 101 Macroeconomics deals with:The behavior of firms.The behavior of the electronics industry.The activities of individual units.Economic aggregates. 1 2 3 4 80 / 101 Who wrote ‘Nature and Causes of Wealth of Nations’?Adam SmithAlfred MarshallSamuelsonRobbins 1 2 3 4 81 / 101 Which of the following theories is a part of macroeconomics?Theory of consumer behavior.Theory of producer behavior.Theory of price.Theory of investment multiplier. 1 2 3 4 82 / 101 The point on production possibility curve indicates:Fuller utilization of resources.Under utilization of resources.Over utilization of resources.Zero utilization of resources. 1 2 3 4 83 / 101 Production possibility curve (PPC) is defined as a different combination of goods and services that can be produced by whom when the resources are fully employed?FirmIndustryEconomyAll of the above 1 2 3 4 84 / 101 If production of good X rises by 1 unit and that of good Y falls from 15 to 12.5 units then, marginal opportunity cost of X is: 27.5 2.5 15 12.5 1 2 3 4 85 / 101 The reason behind a rightward or outward shift of PPC could be:Growth of resources.Technological advancement.Fall in resources or obsolete technology.Either (1) or (2) or both. 1 2 3 4 86 / 101 When the total fixed cost of producing 100 units is ₹ 30 and the average variable cost ₹ 3, total cost is: 1. ₹ 3. ₹ 30. ₹ 270. ₹ 330. 1 2 3 4 TVC = AVC × Q= 3 × 100 = ₹ 300TC = TFC + TVC= 30 + 300 = ₹ 330. 87 / 101 Which of the following is an assumption of Production Possibility Frontier?Resources are not fully employed.Resources are not equally efficient for production of the two goods.Resources are not efficiently employed.Resources available are not fixed. 1 2 3 4 88 / 101 Capital intensive technique is chosen in a:Labour surplus economy.Capital surplus economy.Developed economy.Developing economy. 1 2 3 4 89 / 101 Which point shows under utilization of resources?Point NPoint MPoint RPoint S 1 2 3 4 90 / 101 Slope of production curve is:a straight line.convex to the point of origin ‘O’.concave to the point of ‘O’.none of these. 1 2 3 4 91 / 101 Total output of an economy is the sum of total output of individual producers. This statement proves that:Macroeconomics depends on micro economics.There is no correlation between micro and macroeconomics.Study of micro and macro economics is independent of each other.Microeconomics is dependent on macroeconomics. 1 2 3 4 92 / 101 The problem of 'what to produce' relates to:The choice of technique.Distribution of income.Market value of the goods and services.The choice of goods and services. 1 2 3 4 93 / 101 The law of scarcity.Does not apply to rich, developed countries.Applies only to the less developed countries.'Implies that consumers' wants will Be satisfied in a socialist system.'Implies that consumers' wants will never be completely satisfied. 1 2 3 4 94 / 101 The central problem of how to produce is a problem of choice regarding:Distribution.Technique of production.Quantity to be produced.Commodities to be produced. 1 2 3 4 95 / 101 Microeconomics deals with which of the following?Total output of an economy.Measurement of a nation's inflation rate.How producers and consumers interact in the individual market?How tax policies influence economic growth? 1 2 3 4 96 / 101 PC is defined as a different combination of goods and services that can be produced by whom, when the resources are fully employed?Firm.Industry.Economy.All of these. 1 2 3 4 97 / 101 Which one of the following options is likely to cause an inward shift in a country's PPC?Earthquake destroying resources of the country.Scientists discovering new machines.Workers getting jobs in a new metro project.The country finds new reserves of crude oil. 1 2 3 4 98 / 101 . Which one of the following alternatives illustrate a decrease in unemployment using the PPF?A movement down along the PPF.A rightward shift of the PPF.A movement from a point on the PPF to a point inside the PPF.A movement from a point inside the PPF to a point on the PPF. 1 2 3 4 99 / 101 ____________ is the problem which is concerned with the distribution of national income among those who have helped to produce it.How to produce?What to produce?Why to produce?For whom to produce? 1 2 3 4 100 / 101 The government of India decided to produce 1,000 million quintals of wheat this year. The decision regarding quantity of production is a part of which central problem of the economy?What to produce?How to produce?For whom to produce?None of the above 1 2 3 4 101 / 101 Microeconomics is not concerned with the behavior of:National income.A consumer.A firm.A producer. 1 2 3 4 Your score isThe average score is 0% 0% Restart quiz