Economics - AimCLAT

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1.
1 point
Which of the following is NOT an example of consumption?
2.
1 point
In a competitive industry each buyer and seller _______ ?
3.
1 point
You have Rs. 500. You cant buy books because you went for a movie. Which economic idea is this?
4.
1 point
Which of these economic terms does not denote restriction of international trade, i.e. the free flow of goods between nations?
5.
1 point
Who made the first attempt to measure India’s national and per capita income?
6.
1 point
The retail price index is used to for which of the following?
7.
1 point
Which of the following is a primary characteristic that helps to determine the type of economy a country has?
8.
1 point
Who is the Ex-officio Secretary of National Development Council?
9.
1 point
The philosophy of ‘Laissez-faire’ is associated with which type of State?:
10.
1 point
If my income is Rs. 1,00,000, I paid Rs. 10,000 in taxes. When my income became Rs. 2,00,000, I paid Rs. 40,000 in taxes. Thus the taxing system is?
11.
1 point
Why is Transfer Payments excluded from calculation of GDP?
12.
1 point
What does the word "Capitalism" refer to?
13.
1 point
What, amongst the following would cause a supply shift?
14.
1 point
All of the following are parts of the business cycle except?
15.
1 point
Growth of which of the following is referred to as "Hindu Rate of growth”?
16.
1 point
An effective minimum price imposed by the government, called price floor in economics, is usually expected to result in what?
17.
1 point
What do you mean by the price elasticity of demand?
18.
1 point
In India which of the following taxes is levied by the state governments?
19.
1 point
Which of the following would most likely cause an increase in demand for microwave ovens?
20.
1 point
Which three groups/units participate in the economic circular flow?