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Question Booklet Code: C Duration: 2 Hours
Course: Bachelor of Arts (BA) in General Year: Third Year
Paper Code: 502302 Paper Name: Public Finance
ATTEMPT ALL THE BELOW MENTIONED QUESTIONS:
1. The study of processes used to make
collective decisions in the public sector
are the primary focus of
A) public finance
B) public choice theory
C) the study of tax incidence
D) the study of tax incentives
2. The trading of votes to secure
favourable outcomes on decisions
involving public goods is referred to as
A) logrolling, and it increases economic
efficiency
B) logrolling, and it may increase or decrease
economic efficiency
C) rent-seeking behaviour, and it decreases
economic efficiency
D) rent-seeking behaviour, and it may
increase or decrease economic efficiency
3. The idea that the person holding the
middle position will in a sense determine
the outcome of an election is suggested
by the
A) theory of rent-seeking behaviour
B) paradox of voting
C) median-voter model
D) fallacy of limited decisions
4. Which of the following hypothetical
government policies would likely result
from a "special-interest effect"?
A) legislation further restricting how many
hours per week truckers can drive
B) legislation requiring retailers to provide
clearer information about discount prices
C) legislation preventing a new hockey league
from forming to compete with the NHL
D) legislation protecting bank customers from
excessive service charges
5. The federal tax that replaced the
Canadian sales tax is called the
A) Goods and Services Tax
B) Progressive Income Tax
C) Value-Added Tax
D) Harmonized Federal Tax
6. Groups lobbying the government for
tariffs on foreign products to limit foreign
competition is an example of
A) how the median-voter model works
B) how political choices are bundled
C) rent-seeking behaviour
D) the paradox of voting
7. Which is true of the ability-to-pay
principle as applied in Canada?
A) it is less widely applied than the benefitsreceived
principle.
B) tax incidence is generally taken as the
measure of the ability to pay.
C) gasoline taxes are based on this principle.
D) as an individual's income increases, taxes
paid increase both absolutely (total amount
paiD) and relatively (as a proportion of
income).
8. With a regressive tax, as income
A) increases, the tax rate remains the same
B) decreases, the tax rate decreases
C) increases, the tax rate increases
D) increases, the tax rate decreases
9. Terry makes $30,000 per year and pays
$6,000 in income taxes. Raj makes
$40,000 and pays $10,000 in income
taxes. This is an example of
A) a progressive tax
B) a regressive tax
C) a proportional tax
D) the benefits-received principle
CMJ UNIVERSITY, SHILLONG
TERM END EXAMINATION - 2013
2 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
10. Which statement is correct?
A) the more elastic the supply, the greater the
portion of an excise tax borne by the seller.
B) the more elastic the demand, the greater
the portion of an excise tax borne by the
seller.
C) the more inelastic the supply, the greater
the portion of an excise tax borne by the
buyer.
D) the more inelastic the demand, the greater
the portion of an excise tax borne by the
seller.
11. Tax incidence refers to
A) whether a tax is progressive, proportional,
or regressive
B) how often a tax is collected
C) the person or group who ends up paying a
tax
D) how a tax is collected
12. One possible reason that alcohol is
heavily taxed may be to
A) redistribute income from alcohol producers
to alcohol consumers
B) redistribute income from the rest of society
to alcohol consumers
C) increase the positive externalities
associated with alcohol use
D) reduce the negative externalities associated
with alcohol use
13. The efficiency loss of a tax is
A) greater, the greater the elasticity of supply
and demand
B) greater, the less the elasticity of supply and
demand
C) less, the greater the elasticity of supply and
demand
D) not affected by the elasticity of supply and
demand
14. Which tax is the most difficult to shift
to others?
A) personal income tax
B) corporate income tax
C) specific excise taxes
D) business property taxes
15. Which of the following has NOT been
part of the federal tax reforms in Canada
since 2000?
A) reductions in personal income tax rates
B) reductions in small business income taxes
C) increases in tax rates for corporations
D) limits on tax-assisted registered retirement
savings plans contributions were increased
16. Kets de Vries (1996) identified that
most successful leaders perform two
roles. What are these roles?
A) Charismatic and architectural
B) Tough and supportive
C) Directive and mentoring
D) Intellectual and coaching
17. The Action Centred Leadership model
was put forward and developed in 1973
by whom?
A) Beer
B) Taylor
C) Adair
D) Fiedler
18. It has been identified that there are 6
Pillars of Character that are important to
adopting and ethical perspective in
leadership development. Can you name
four of the six?
A) Trustworthiness, Respect, Responsibility,
Fairness, Caring and Citizenship
B) Ruthlessness, Drive, Determination,
Toughness, Supportive, Action orientated
C) Supportive, intelligent, insightful, good
communicator, toughness, Fair
D) Caring, softness, intelligent, decisive, team
player, communicator
19. Berg and Chyung use an analogy to
distinguish formal and informal learning.
In this analogy, formal learning is
represented as a journey by bus, whereas
informal learning is characterized as
what?
A) Like flying an aeroplane
B) Like riding a bicycle
C) Like driving a car
D) Like being on a train
20. Barner and Higgins identify four
theory models of coaching to which all
coaches will subscribe, consciously or
otherwise, in varying degrees. Which of
these models aims primarily to help the
individual to gain insights into themselves
(as a person and as a manager) and to
effect changes based on those insights?
A) Systems model
B) Social constructionist model
C) Behavioural model
D) Clinical model
3 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
21. The authors suggest the idea of
wrappers for a series of related and
overlapping concepts that writers and
organizations use to define and delineate
practices in areas related to leadership
and management development. Which
three concepts make up these wrappers?
A) Alignment, human resource planning, and
skills analysis
B) Career planning, talent pipeline, and
retention strategies
C) Talent management, succession
management, and career management
D) Career ladders, talent pools, and
engagement practices
22. The authors take a broad view of
leadership and management (L&M)
development, including all activities
aimed at building ongoing L&M capacity,
enabling the organization to meet its
objectives, to sustain itself and to what
else?
A) Transform itself
B) Develop talent
C) Agree strategy
D) Make money
23. Holton (1996) criticised Kirkpatrick's
model of levels of evaluation in learning,
stating that only three of these levels
were causally related to learning and
development. Which were the three levels
Holton identified?
A) Reactions, learning, organizational results
B) Learning, individual performance,
organizational results
C) Reactions, individual performance, learning
D) Learning, Reactions, organizational results
24. Stein et al (2008) found that top
executives differed significantly from the
remainder of the general population in
terms of a certain personal characteristic.
This difference was also found to be
linked to effective leadership and
organizational effectiveness. What was
the identified personal characteristic?
A) Greater emotional intelligence
B) More ambition
C) Greater IQ
D) More personality
25. What is the Human Capital
Perspective argument for diversity
management in leadership and
management?
A) Using human resource planning to identify
leaders and managers
B) Assessing all employees in terms of the
money they make
C) Taking advantage of the talents available in
the whole of the workforce
D) Telling employees that their knowledge and
skills will be assessed and used by managers
26. Research in the styles of leadership
preferred by different generations was
completed by Arsenault (2004). What was
the style of leadership that Generation X
was found to prefer?
A) Directive
B) Authoritarian
C) Participative
D) Egalitarian
27. Which of the four theorists added a
Chinese dimension to Hofsted's cultural
dimensions?
A) Schein
B) Bond
C) Trompenaars
D) Adler
28. Earley and Mosakowski (2004)
developed the concept of cultural
intelligence in the context of attitudes
and skills. Which of the following did they
identify which related to learning
strategies whereby people acquire and
develop coping strategies?
A) Mind
B) Knowledge
C) Heart
D) Body
29. Which of the following aspects do not
have an impact on Employment Law?
A) Recruitment and selection.
B) Dismissal
C) Education qualifications
D) Finance
30. Whilst there is no consensus as to
what global leadership competencies are
there is agreement as to what according
to Neary and O'Grady?
A) Lead change
B) Internal and external networking
C) Management style
D) The need to develop managers through
such an approach
4 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
31. Which of Mabey and Salaman's (1995)
four management agendas assumed an
unproblematic link between management
development and performance?
A) Political reinforcement
B) Functional performance
C) Compensation
D) Psychic defence
32. Planning to learn from experience is
in keeping with which of Mumford's four
approaches to learning?
A) Prospective approach
B) Intuitive approach
C) Incidental approach
D) Retrospective approach
33. Which of the following is an
advantage of informal learning
opportunities?
A) Idealisation: whereby past experiences are
valued to the exclusion of other learning
opportunities.
B) Narrowness: where a manager's work
experience is specific and blinkers the desire to
widen the managerial perspective.
C) Obsolescence: previously acquired
experience may have become out of date. This
may be exemplified by a manager from the
public sector moving into the private sector.
D) Job change within the same function.
34. Which of Carnall's (2003) four core
managerial components essential for the
effective management of change involves
team building?
A) Decision making
B) Coalition building
C) Achieving action
D) Maintaining momentum
35. International management
development involves the CEO and the
senior team and other key elements.
Which of the following is not one of the
key elements?
A) The global strategy
B) Human resource and line capabilities
C) Senior Management involvement
D) Performance management
36.The concept of ‘costing margin’ in the
pricing theory was introduced by?
A)Andrews
B) Baumol
C)Cournot
D) Williamson
37.The Keynesian theory of employment
provides the solution of?
A) Frictional unemployment
B) Disguised unemployment
C) Cyclical unemployment
D) Seasonal unemployment
38. Four heads of expenditure of the
Union Budget 2009-10 are given below—
1. Plan expenditure
2. Non-plan expenditure
3. Revenue expenditure
4. Capital expenditure
Arrange the expenditure heads in descending
order using the codes
given below
A)2,3,4,1
B) 3,4,2, 1
C)3,2,1,4
D) 2,1,4,3
39. In the year 2007-08 the per capita
NNP at current prices was?
A) More than Rs. 20,000
B) More than Rs. 30,000
C) More than Rs. 40,000
D) More than Rs. 50,000
40. Mathematics was first used economic
theory by?
A)Weiser
B) Walras
C)Cournot
D) Pigou
41. India’s foreign exchange rate system
is?
A) Free float
B) Managed float
C) Fixed
D) Fixed target of band
42. The terms ‘NEER’ and ‘REER’ are
related with?
A) Foreign exchange rate
B) External economic resources:
C) National and regional economic equality
D) Environmental regulation
43. For the calculation of percentile, the
data should be arranged in?
A) Ascending order
B) Descending order
C) Random order
D) Either random or descending order
5 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
44. As per BASEL-II norms, a bank’s
capital to risk weighted assets ratio
(CRAR) should be at least?
A) 8%
B) 10%
C) 12%
D) 14%
45. The shape of a frequency curve
cannot be?
A) U-shaped
B) V Shaped
C) J-shaped
D) S-shaped
46. According to the Planning
Cornmission, for infrastructure
development during Eleventh Five Year
Plan, the required investment is?
A) Approximately $ 250 billion
B) Approximately $ 500 billion
C) Approximately $ 750 billion
D) Approximately $ 1000 billion
47. India’s first port-based Special
Economic Zone named International
Container Transshipment Terminal (ICTI)
is being set-up at?
A)Kandla
B) Kochi
C)Goa
D) Tuticorin
48. Which of the following is pure unitless
number?
A) Mathematical average
B) Statistical average
C) Absolute measure of dispersion
D) Relative measure of dispersion
49.The user cost of capital is?
A) The real rate of interest plus the rate of
depreciation
B) The nominal rate of interest plus the rate of
depreciation
C) The real rate of interest only
D) The nominal rate of interest only
50. The number of items reserved for the
exclusive manufacture by micro and small
enterprises is currently?
A) Less than 25
B) Less than 50
C) Less than 75
D) Less than 100
51. A new housing price index RESIDEX
has been launched by?
B) Planning Commission
C) Housing Development Finance Corporation
D) National Housing Bank
A) Central Statistical Organization
52. Which one of the following is not a
feature of current Indian Planning?
A) Structural Planning
B) Indicative Planning
C) Functional Planning
D) Decentralised Planning
53. The concept of disinvestment was
introduced by?
A) Friedman
B) Kaldor
C) Keynes
D) Myrdal
54. Which of the following is average of
second order?
A) Arithmetic mean
B) Geometric mean
C) Second quartile
D) Standard deviation
55. Which average is most affected by the
extreme observations?
A) Arithmetic mean
B) Geometric mean
C) Median
D) Mode
56. Which of the following is not an
example of public policy?
A) Environmental regulation
B) Achieving societal goals
C) Regulating industry
D) Unifying religious organizations
57. Social welfare policy is characterized
by which of the following?
A) No incentives.
B) Work-to welfare incentives.
C) Positive incentives.
D) Negative incentives.
58. Policy elites include:
A) Members of Congress.
B) The president.
C) Influential columnists and commentators in
the media.
D) Executive agency heads.
6 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
59. Which of the following does not have
responsibility for the formulation of public
policy?
A) The public
B) The courts
C) Federal agencies
D) Congress
60. The actions taken by the Federal
Reserve are best characterized as
A) fiscal policy.
B) local economic policy.
C) international economic policy.
D) regulatory policy.
61. The largest single non-defense item in
the national budget is
A) social security.
B) medical research.
C) public education.
D) congressional salaries.
62. Regulatory policies have
A) decreased in recent years.
B) become much more simplistic.
C) increased in recent years.
D) been declared unconstitutional.
63. Pollution credits were created by
A) the Water Conservation Act of 1995.
B) the Environmental Protection Act of 1960.
C) the Clean Air Act of 1990.
D) the Kyoto Protocol.
64. Which of the following provides
federal agencies with instructions and
guidelines reflecting the president's
budgetary priorities?
A) The Internal Revenue Service.
B) The Office of Management and Budget.
C) The president.
D) The Secretary of the Treasury.
65. The income tax is an example of a:
A) value-added tax.
B) progressive tax.
C) regressive tax.
D) flat tax.
66. Tax deductions that reduce the
amount of income that is subject to taxes,
such as home mortgages, are called
A) tax liabilities.
B) tax shelters.
C) tax revenues.
D) tax expenditures.
67. Which of the following accounts for
two-thirds of all federal spending?
A) mandatory spending.
B) foreign aid.
C) congressional pork barrel projects.
D) discretionary spending.
68. Budgetary disputes between the
president and Congress usually focus
most often on
A) the deficit.
B) borrowing.
C) foreign aid.
D) spending.
69. What type of government policy is
best reflected in the national budget?
A) international economic policy
B) fiscal policy
C) defense policy
D) regulatory policy
70. Which of the following are considered
to be a regressive tax?
A) capital gains taxes.
B) fixed taxes.
C) inheritance taxes.
D) income taxes.
Question Booklet Code: C Duration: 2 Hours
Course: Bachelor of Arts (BA) in General Year: Third Year
Paper Code: 502302 Paper Name: Public Finance
ATTEMPT ALL THE BELOW MENTIONED QUESTIONS:
1. The study of processes used to make
collective decisions in the public sector
are the primary focus of
A) public finance
B) public choice theory
C) the study of tax incidence
D) the study of tax incentives
2. The trading of votes to secure
favourable outcomes on decisions
involving public goods is referred to as
A) logrolling, and it increases economic
efficiency
B) logrolling, and it may increase or decrease
economic efficiency
C) rent-seeking behaviour, and it decreases
economic efficiency
D) rent-seeking behaviour, and it may
increase or decrease economic efficiency
3. The idea that the person holding the
middle position will in a sense determine
the outcome of an election is suggested
by the
A) theory of rent-seeking behaviour
B) paradox of voting
C) median-voter model
D) fallacy of limited decisions
4. Which of the following hypothetical
government policies would likely result
from a "special-interest effect"?
A) legislation further restricting how many
hours per week truckers can drive
B) legislation requiring retailers to provide
clearer information about discount prices
C) legislation preventing a new hockey league
from forming to compete with the NHL
D) legislation protecting bank customers from
excessive service charges
5. The federal tax that replaced the
Canadian sales tax is called the
A) Goods and Services Tax
B) Progressive Income Tax
C) Value-Added Tax
D) Harmonized Federal Tax
6. Groups lobbying the government for
tariffs on foreign products to limit foreign
competition is an example of
A) how the median-voter model works
B) how political choices are bundled
C) rent-seeking behaviour
D) the paradox of voting
7. Which is true of the ability-to-pay
principle as applied in Canada?
A) it is less widely applied than the benefitsreceived
principle.
B) tax incidence is generally taken as the
measure of the ability to pay.
C) gasoline taxes are based on this principle.
D) as an individual's income increases, taxes
paid increase both absolutely (total amount
paiD) and relatively (as a proportion of
income).
8. With a regressive tax, as income
A) increases, the tax rate remains the same
B) decreases, the tax rate decreases
C) increases, the tax rate increases
D) increases, the tax rate decreases
9. Terry makes $30,000 per year and pays
$6,000 in income taxes. Raj makes
$40,000 and pays $10,000 in income
taxes. This is an example of
A) a progressive tax
B) a regressive tax
C) a proportional tax
D) the benefits-received principle
CMJ UNIVERSITY, SHILLONG
TERM END EXAMINATION - 2013
2 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
10. Which statement is correct?
A) the more elastic the supply, the greater the
portion of an excise tax borne by the seller.
B) the more elastic the demand, the greater
the portion of an excise tax borne by the
seller.
C) the more inelastic the supply, the greater
the portion of an excise tax borne by the
buyer.
D) the more inelastic the demand, the greater
the portion of an excise tax borne by the
seller.
11. Tax incidence refers to
A) whether a tax is progressive, proportional,
or regressive
B) how often a tax is collected
C) the person or group who ends up paying a
tax
D) how a tax is collected
12. One possible reason that alcohol is
heavily taxed may be to
A) redistribute income from alcohol producers
to alcohol consumers
B) redistribute income from the rest of society
to alcohol consumers
C) increase the positive externalities
associated with alcohol use
D) reduce the negative externalities associated
with alcohol use
13. The efficiency loss of a tax is
A) greater, the greater the elasticity of supply
and demand
B) greater, the less the elasticity of supply and
demand
C) less, the greater the elasticity of supply and
demand
D) not affected by the elasticity of supply and
demand
14. Which tax is the most difficult to shift
to others?
A) personal income tax
B) corporate income tax
C) specific excise taxes
D) business property taxes
15. Which of the following has NOT been
part of the federal tax reforms in Canada
since 2000?
A) reductions in personal income tax rates
B) reductions in small business income taxes
C) increases in tax rates for corporations
D) limits on tax-assisted registered retirement
savings plans contributions were increased
16. Kets de Vries (1996) identified that
most successful leaders perform two
roles. What are these roles?
A) Charismatic and architectural
B) Tough and supportive
C) Directive and mentoring
D) Intellectual and coaching
17. The Action Centred Leadership model
was put forward and developed in 1973
by whom?
A) Beer
B) Taylor
C) Adair
D) Fiedler
18. It has been identified that there are 6
Pillars of Character that are important to
adopting and ethical perspective in
leadership development. Can you name
four of the six?
A) Trustworthiness, Respect, Responsibility,
Fairness, Caring and Citizenship
B) Ruthlessness, Drive, Determination,
Toughness, Supportive, Action orientated
C) Supportive, intelligent, insightful, good
communicator, toughness, Fair
D) Caring, softness, intelligent, decisive, team
player, communicator
19. Berg and Chyung use an analogy to
distinguish formal and informal learning.
In this analogy, formal learning is
represented as a journey by bus, whereas
informal learning is characterized as
what?
A) Like flying an aeroplane
B) Like riding a bicycle
C) Like driving a car
D) Like being on a train
20. Barner and Higgins identify four
theory models of coaching to which all
coaches will subscribe, consciously or
otherwise, in varying degrees. Which of
these models aims primarily to help the
individual to gain insights into themselves
(as a person and as a manager) and to
effect changes based on those insights?
A) Systems model
B) Social constructionist model
C) Behavioural model
D) Clinical model
3 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
21. The authors suggest the idea of
wrappers for a series of related and
overlapping concepts that writers and
organizations use to define and delineate
practices in areas related to leadership
and management development. Which
three concepts make up these wrappers?
A) Alignment, human resource planning, and
skills analysis
B) Career planning, talent pipeline, and
retention strategies
C) Talent management, succession
management, and career management
D) Career ladders, talent pools, and
engagement practices
22. The authors take a broad view of
leadership and management (L&M)
development, including all activities
aimed at building ongoing L&M capacity,
enabling the organization to meet its
objectives, to sustain itself and to what
else?
A) Transform itself
B) Develop talent
C) Agree strategy
D) Make money
23. Holton (1996) criticised Kirkpatrick's
model of levels of evaluation in learning,
stating that only three of these levels
were causally related to learning and
development. Which were the three levels
Holton identified?
A) Reactions, learning, organizational results
B) Learning, individual performance,
organizational results
C) Reactions, individual performance, learning
D) Learning, Reactions, organizational results
24. Stein et al (2008) found that top
executives differed significantly from the
remainder of the general population in
terms of a certain personal characteristic.
This difference was also found to be
linked to effective leadership and
organizational effectiveness. What was
the identified personal characteristic?
A) Greater emotional intelligence
B) More ambition
C) Greater IQ
D) More personality
25. What is the Human Capital
Perspective argument for diversity
management in leadership and
management?
A) Using human resource planning to identify
leaders and managers
B) Assessing all employees in terms of the
money they make
C) Taking advantage of the talents available in
the whole of the workforce
D) Telling employees that their knowledge and
skills will be assessed and used by managers
26. Research in the styles of leadership
preferred by different generations was
completed by Arsenault (2004). What was
the style of leadership that Generation X
was found to prefer?
A) Directive
B) Authoritarian
C) Participative
D) Egalitarian
27. Which of the four theorists added a
Chinese dimension to Hofsted's cultural
dimensions?
A) Schein
B) Bond
C) Trompenaars
D) Adler
28. Earley and Mosakowski (2004)
developed the concept of cultural
intelligence in the context of attitudes
and skills. Which of the following did they
identify which related to learning
strategies whereby people acquire and
develop coping strategies?
A) Mind
B) Knowledge
C) Heart
D) Body
29. Which of the following aspects do not
have an impact on Employment Law?
A) Recruitment and selection.
B) Dismissal
C) Education qualifications
D) Finance
30. Whilst there is no consensus as to
what global leadership competencies are
there is agreement as to what according
to Neary and O'Grady?
A) Lead change
B) Internal and external networking
C) Management style
D) The need to develop managers through
such an approach
4 | P a g e Centre for Collaboration of Industry and Institutions (CCII) – www.cmju.in
31. Which of Mabey and Salaman's (1995)
four management agendas assumed an
unproblematic link between management
development and performance?
A) Political reinforcement
B) Functional performance
C) Compensation
D) Psychic defence
32. Planning to learn from experience is
in keeping with which of Mumford's four
approaches to learning?
A) Prospective approach
B) Intuitive approach
C) Incidental approach
D) Retrospective approach
33. Which of the following is an
advantage of informal learning
opportunities?
A) Idealisation: whereby past experiences are
valued to the exclusion of other learning
opportunities.
B) Narrowness: where a manager's work
experience is specific and blinkers the desire to
widen the managerial perspective.
C) Obsolescence: previously acquired
experience may have become out of date. This
may be exemplified by a manager from the
public sector moving into the private sector.
D) Job change within the same function.
34. Which of Carnall's (2003) four core
managerial components essential for the
effective management of change involves
team building?
A) Decision making
B) Coalition building
C) Achieving action
D) Maintaining momentum
35. International management
development involves the CEO and the
senior team and other key elements.
Which of the following is not one of the
key elements?
A) The global strategy
B) Human resource and line capabilities
C) Senior Management involvement
D) Performance management
36.The concept of ‘costing margin’ in the
pricing theory was introduced by?
A)Andrews
B) Baumol
C)Cournot
D) Williamson
37.The Keynesian theory of employment
provides the solution of?
A) Frictional unemployment
B) Disguised unemployment
C) Cyclical unemployment
D) Seasonal unemployment
38. Four heads of expenditure of the
Union Budget 2009-10 are given below—
1. Plan expenditure
2. Non-plan expenditure
3. Revenue expenditure
4. Capital expenditure
Arrange the expenditure heads in descending
order using the codes
given below
A)2,3,4,1
B) 3,4,2, 1
C)3,2,1,4
D) 2,1,4,3
39. In the year 2007-08 the per capita
NNP at current prices was?
A) More than Rs. 20,000
B) More than Rs. 30,000
C) More than Rs. 40,000
D) More than Rs. 50,000
40. Mathematics was first used economic
theory by?
A)Weiser
B) Walras
C)Cournot
D) Pigou
41. India’s foreign exchange rate system
is?
A) Free float
B) Managed float
C) Fixed
D) Fixed target of band
42. The terms ‘NEER’ and ‘REER’ are
related with?
A) Foreign exchange rate
B) External economic resources:
C) National and regional economic equality
D) Environmental regulation
43. For the calculation of percentile, the
data should be arranged in?
A) Ascending order
B) Descending order
C) Random order
D) Either random or descending order
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44. As per BASEL-II norms, a bank’s
capital to risk weighted assets ratio
(CRAR) should be at least?
A) 8%
B) 10%
C) 12%
D) 14%
45. The shape of a frequency curve
cannot be?
A) U-shaped
B) V Shaped
C) J-shaped
D) S-shaped
46. According to the Planning
Cornmission, for infrastructure
development during Eleventh Five Year
Plan, the required investment is?
A) Approximately $ 250 billion
B) Approximately $ 500 billion
C) Approximately $ 750 billion
D) Approximately $ 1000 billion
47. India’s first port-based Special
Economic Zone named International
Container Transshipment Terminal (ICTI)
is being set-up at?
A)Kandla
B) Kochi
C)Goa
D) Tuticorin
48. Which of the following is pure unitless
number?
A) Mathematical average
B) Statistical average
C) Absolute measure of dispersion
D) Relative measure of dispersion
49.The user cost of capital is?
A) The real rate of interest plus the rate of
depreciation
B) The nominal rate of interest plus the rate of
depreciation
C) The real rate of interest only
D) The nominal rate of interest only
50. The number of items reserved for the
exclusive manufacture by micro and small
enterprises is currently?
A) Less than 25
B) Less than 50
C) Less than 75
D) Less than 100
51. A new housing price index RESIDEX
has been launched by?
B) Planning Commission
C) Housing Development Finance Corporation
D) National Housing Bank
A) Central Statistical Organization
52. Which one of the following is not a
feature of current Indian Planning?
A) Structural Planning
B) Indicative Planning
C) Functional Planning
D) Decentralised Planning
53. The concept of disinvestment was
introduced by?
A) Friedman
B) Kaldor
C) Keynes
D) Myrdal
54. Which of the following is average of
second order?
A) Arithmetic mean
B) Geometric mean
C) Second quartile
D) Standard deviation
55. Which average is most affected by the
extreme observations?
A) Arithmetic mean
B) Geometric mean
C) Median
D) Mode
56. Which of the following is not an
example of public policy?
A) Environmental regulation
B) Achieving societal goals
C) Regulating industry
D) Unifying religious organizations
57. Social welfare policy is characterized
by which of the following?
A) No incentives.
B) Work-to welfare incentives.
C) Positive incentives.
D) Negative incentives.
58. Policy elites include:
A) Members of Congress.
B) The president.
C) Influential columnists and commentators in
the media.
D) Executive agency heads.
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59. Which of the following does not have
responsibility for the formulation of public
policy?
A) The public
B) The courts
C) Federal agencies
D) Congress
60. The actions taken by the Federal
Reserve are best characterized as
A) fiscal policy.
B) local economic policy.
C) international economic policy.
D) regulatory policy.
61. The largest single non-defense item in
the national budget is
A) social security.
B) medical research.
C) public education.
D) congressional salaries.
62. Regulatory policies have
A) decreased in recent years.
B) become much more simplistic.
C) increased in recent years.
D) been declared unconstitutional.
63. Pollution credits were created by
A) the Water Conservation Act of 1995.
B) the Environmental Protection Act of 1960.
C) the Clean Air Act of 1990.
D) the Kyoto Protocol.
64. Which of the following provides
federal agencies with instructions and
guidelines reflecting the president's
budgetary priorities?
A) The Internal Revenue Service.
B) The Office of Management and Budget.
C) The president.
D) The Secretary of the Treasury.
65. The income tax is an example of a:
A) value-added tax.
B) progressive tax.
C) regressive tax.
D) flat tax.
66. Tax deductions that reduce the
amount of income that is subject to taxes,
such as home mortgages, are called
A) tax liabilities.
B) tax shelters.
C) tax revenues.
D) tax expenditures.
67. Which of the following accounts for
two-thirds of all federal spending?
A) mandatory spending.
B) foreign aid.
C) congressional pork barrel projects.
D) discretionary spending.
68. Budgetary disputes between the
president and Congress usually focus
most often on
A) the deficit.
B) borrowing.
C) foreign aid.
D) spending.
69. What type of government policy is
best reflected in the national budget?
A) international economic policy
B) fiscal policy
C) defense policy
D) regulatory policy
70. Which of the following are considered
to be a regressive tax?
A) capital gains taxes.
B) fixed taxes.
C) inheritance taxes.
D) income taxes.
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