PGT Economics PDF Exam Questions

PGT ECONOMICS 1. Who launched the 90-day campaign 'Azadi Se Antyodaya Tak'? (A) Amit Shah (B) Piyush Goyal (C) Kiren Rijiju (D) Giriraj Singh Correct Answer: (D) 2. Which country signed agreements on training staff and IT cooperation to deepen railway cooperation In Sep 2022? (A) Russia-India (B)...

PGT ECONOMICS 1. Who launched the 90-day campaign 'Azadi Se Antyodaya Tak'? (A) Amit Shah (B) Piyush Goyal (C) Kiren Rijiju (D) Giriraj Singh Correct Answer: (D) 2. Which country signed agreements on training staff and IT cooperation to deepen railway cooperation In Sep 2022? (A) Russia-India (B) Ukraine-Turkey (C) India-Bangladesh (D) America-India Correct Answer: (C) 3. The “Donbas War” is currently being fought in (A) Serbia (B) Ukraine (C) Syria (D) Lebanon Correct Answer: (B) 4. Pedagogy is the study of (A) education (B) learning process (C) teaching methods (D) guiding students Correct Answer: (C) 5. Dyslexia is associated with (A) mental disorder (B) mathematical disorder (C) reading disorder (D) behavioural disorder Correct Answer: (C) 6. Which government organizations will develop guidelines for the education of gifted children? (A) NCERT and NCFCS (B) NCERT and NCTE (C) NCERT and NTA (D) NCERT and SCERT Correct Answer: (B) 7. Suppose price rises from Rs. 25 to Rs. 27 and quantity demanded decreases by 20 percent. Which of the following statements would be true? (A) The elasticity of demand is unitary (B) The elasticity of demand does not change (C) Elasticity of demand is 2 (D) None of these Correct Answer: (C) 8. Which of the following statements is false? (A) Non-conventional sources of energy can be of great support to meet shortage of energy. (B) Health is a yardstick of human well-being, physical as well as mental. (C) Infrastructure, both economic and social, is essential for the development of a country. (D) None of these Correct Answer: (D) None of these 9. Statement 1: All inferior goods are Giffen goods. Statement 2: Cross-Price elasticity of demand for Tea and Sugar is 1. (A) Both Statements are True (B) Only Statement 1 is True (C) Only Statement 2 is True (D) Both Statements are False Correct Answer: (D) Both Statements are False 10. Statement 1: Forward Transactions are contracted to avoid the risk of any change in exchange rate and to make speculative gains. Statement 2: Supply of Foreign exchange depends on speculative purchases by the non- residents in the domestic market. (A) Both Statements are True (B) Statement 1 is True (C) Statement 2 is True (D) Both Statements are False Correct Answer: (A)  11. From the set of statements given in Column I and Column II, Choose the correct pair of statements: Column – I Column – II A. Microeconomics i) Tools are aggregate demand and aggregate supply B. Positive Economics ii) Deals with how the economic problems are actually solved C. Macroeconomics iii) Behaviour of individual economic agents D. Production possibility frontier iv) Convex shaped (A) A – i) (B) B – ii) (C) C – iii) (D) D – iv) Correct Answer: (B) 12. Match the statements given under A with the correct options given under B Column – (A) Column – (B) i) Opportunity Cost A – Technique to be used for production of goods and services ii) Positive Economics B – Concave Shaped iii) Production Possibility Frontier C – Cost of next best alternative foregone iv) How to produce D – Deals with how the economic problems are actually solved. Options (A) i) – A, ii) – B, iii) – C, iv) – D (B) i) – B, ii) – A, iii) – D, iv) – C (C) i) – C, ii) – D, iii) – B, iv) – A (D) i) – D, ii) – A, iii) – C, iv) – B Correct Answer: (C) 13. Match the following Column I and Column II and Choose the correct alternate: Column – I Column – II A – Normative economics i) Discovery of new natural resources B – Microeconomics ii) It is suggestive in nature C – Growth of resources iii) Cotton Industry D – What to produce iv) Selection of goods and services to be produced (A) A – ii), B – iii), C – i), D – iv) (B) A – iii), B – ii), C – iv), D – i) (C) A – iv), B – ii), C – i), D – iii) (D) A – iv), B – i), C – ii), D – iii) Correct Answer: (A) 14. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below: Assertion (A): Domestic Income is a territorial concept. Reason (R): Domestic Income includes the value of final goods and services produced in the entire world. (A) Both Assertion and Reason are true and Reason (R) is the correct explanation of Assertion (A) (B) Both Assertion and Reason are true and Reason (R) is not the correct explanation of Assertion (A) (C) Assertion (A) is True but Reason (R) is False (D) Assertion (A) is False but Reason (R) is True Correct Answer: (C) 15. Read the following statements: Assertion (A) and Reason (R). Choose one of the correct alternatives given below: Assertion (A): Money received from the sale of second-hand cars will be considered while estimating national income. Reason (R): Their value is already included and it does not contribute to the current flow of goods and services. (A) Both Assertion and Reason are true and Reason (R) is the correct explanation of Assertion (A) (B) Both Assertion and Reason are true and Reason (R) is not the correct explanation of Assertion (A) (C) Assertion (A) is True but Reason (R) is False (D) Assertion (A) is False but Reason (R) is True Correct Answer: (D) 16. _________ refers to the benefits (or harms) a firm or an individual causes to another for which they are not paid or (penalised) (A) Non-monetary exchange (B) Externalities (C) Subsidies (D) Transfer Payments Correct Answer: (B) Externalities 17. Which of the following curves is not a U-shaped curve? (A) AVC curve (B) AFC curve (C) MC curve (D) AC curve Correct Answer: (B) AFC curve 18. The _____ theory is used to make long-run predictions about exchange rates in a flexible exchange system. (A) Depreciation (B) Production and Cost Theory (C) Purchasing Power Parity (D) Devaluation Correct Answer: (C) 19. _______ is the difference between the largest and the smallest value in a distribution. (A) Quartile Deviation (B) Range (C) Standard Deviation (D) Correlation Correct Answer: (B) Range CASE STUDY BASED QUESTION: People spend to acquire information relating to the labour market and other markets like education and health. This information is necessary to make decisions w.r.t investment in human capital and its efficient utilization. Thus, expenditure incurred for acquiring information relating to the labour market and other markets is also a source of human capital formation. 20. Which of the following is the source of human capital formation in India? (A) Health (B) Migration (C) Acquiring information (D) All of these Correct Answer: (D)