ICAR-JRF-EXAM-2017 MOCK TEST SERIES AGRIL.ECONOMICS Prepared By Sachin N. Waghmare M.Sc. (Agril. Economics) Department of Agril. Econmics MPKV, RAHURI,(M.H.)
HORTICULTURE....GYAN
10/12/2016 https://horticulturegyan.wordpress.com/
HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
ICAR-JRF-EXAM-2017- MOCK TEST( Agril. Economics) “Stop doubting urself, work hard & make it happen” ---------------------------------------------------------------------------------------1) ‘ ceteris paribus’ is a latin phrase which means _______? a) All factors being dynamic b) All factors Being equal c) Any one thing can vary d) No assurance of factor variation. 2) _______ said economics as ‘queen of social science’. a) J.M. Keynes b) J. S. Mill c) Jacob Vienier d) Samualson
3) which of the following is non- material external good ? a) courage
b) Land
c) Patent d) Farm machinery
4) which of the following is wronga) Economic laws are statements of tendencies b) Economic laws are hypothetical c) Economic laws are exact one d) Economic laws are sometimes axomatic
5) Micro- economics & Macro- economics are words given by_____? a) Alfred Marshall b) Samualson c) Rangnar Frisch d) Carlyl & Ruskin
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
6) “Bholu wants to purchase a mobile of XYZ company, because it is in trend & many of his friends aare having the same,” this is example of ______? a) Snob Effect
b) Bandwagon Effect
c) Conspicuous consumption d) Giffens paradox
7) “Demand for coffee is raised due to increase in prices of tea”, is an example of _____? a) Increase in demand of coffee b) Extension in demand for coffee c) Decrease in demand for tea d) Both a & b
8) Larger the number of substitutes available for a commodity, higher will be the_____? a) Elasticity
b) inelasticity
c) Unitary elasticity
d) can’t determine
9) LEMU can be applied only when the commodity / resources are in ______ quantity. a) Limited
b) Abundent
c) disimilar
d) both a& b
10) Generally, consumer’s surplus is higher in case of _____? a) Necessaries b) luxurious c) Comforts d) Durable goods
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
11) Which of the following is not property of indifference curve ? a) Always negatively sloped, downward from left to right b) concave to origin c) never intersects d) never touches axes
12) which of the following is overhead cost ? a) Taxes
b) Fertilizers
c) Transportation
d) All
13) Which of the following is capital ? a) Bank deposits b) Shares & Gold c) Raw material d) All 14) In perfectly competitive markets _____? a) P = MR = AR
b) P= MR > AR
c) P> MR = AR
d) P> MR >AR
15) Cournot’s Model is releted to _____? a) Monopoly c) Perfect competitive market
b) Oligopoly d) Duopoly
16) Dalton’s Formula for maladjustment of population is _____? a) M= O / A + O b) M= O- A / A c) M= A - O / O d) M= A / O + A https://horticulturegyan.wordpress.com/
HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
17) National Income is also known as ____? a) NNP at Factor cost b) NNP at Market price c) GNP at Factor cost d) GNP at Market price
18) Disposable Income = _____? a) Personal income – personal taxes b) Consumption Expenditure + Savings c) Personal Income – Depreciation d) both a & b
19) Direct taxes are paid on _____ levels, while indirect taxes are paid on ______levels. a) Income , Expenditure b) Expenditure , Income c) Both on income levels
d) both on expenditure levels
20) IF a person dies without any successor behind him, his property / asset will go to state government. This claim of state govt. is called _____? a) Tribute
b) Escheats
c) Indemnities
d) special assessment
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
21) An unemployment type occurs due to cyclical fluctuations of economy & during the downswing of business cycle is called as _____? a) Seasonal unemployment b) Frictional unemployment c) Keynesian Unemployment d) Structural Unemployment
22) Mark the correct business cycle sequencea) Depression Recovery Prosperity Boom Recession b) Recession Boom Prosperity Recovery Depression c) DepressionProsperity Boom Recession Recovery d) Recovery Prosperity BoomDepression Recession
23) GNP at base year means a) Real GNP
b) Nominal GNP
c) GDP at Factor cost
d) NNP at Market price
24) Increase in price of goods due to increase in it’s production cost is _____type of inflation. a) Demand pull b) Cost push
c) Demand shift
d) None
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
25) NI accounting is function of _____? a) NSSO
b) CSO
C) Ministry of Agriculture d) All collectively 26) Which of the following is correcta) MPC + MPS = 1
b) MPC = MPS
c) MPC + MPS = 0
d) MPC + MPS < 1
27) Investment which is independent of income is ___? a) Autonomous b) Induced c) Derived d) Unproductive 28) Phillips curve shows â&#x20AC;&#x201C; a) Possible combination of inflation & unemployment for economy b) Possible ratio of employment & Unemployment c) MR in Oligopoly d) Relation between NI & Rate of interest
29) Fiscal policy is strategy of _____ to maintain stable economy. a) Government
b) Central bank
c) World bank
d) Lead bank
30) Three maxims of co-operation are given by ___? a) H. Calvert
b) Horace Plunkett
c) F. Nicholson
d) Von Raffeinson
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
31) crop loan is given to farmer in ____ form a) cash
b) Kind
c) Both a&b
d) Shares & bonds
32) NABARD is constituted by merging of ____? a) ARDC + ARC
b) ACD + RPCC
c) ARDC + RPCC
d) ARDC + ARC + RPCC
33) Generally assets are presented on ___ side of balance sheet a) Left hand side c) Below equity
b) Right hand side d) Below liability
34) Which of the following financial statement indicates amount, timing & probability of future cash flows ? a) Income statement
b) Balancesheet
c) Cash flow statement
d) Net worth statement
35) BEP = ____ a) F/ P – V
b) P – V / F
c) F / P – V * 100 d) F – V / P
36) _____ book is known as book of ‘ original entry ’ a) Ledger c) Trial balance
b) Journal d) final accounts
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
37) Which of the following is proper project cyclea) conception formulation Appraisal Implementation Monitoring Evaluation b) formulation conception Appraisal Implementation Monitoring Evaluation c) Appraisal formulation conception Implementation Monitoring Evaluation d) Appraisal conception formulationImplementation Monitoring Evaluation
38) Which of the following is undiscounted measure of feasibility analysis a) NPV
b) IRR
c) BCR
d) Payback period
39) Increase in all costs above their original estimates owing to national cost inflation & increase in wages & salaries is called a) Cost escalation
b) Hyperinflation
c) Demand pull inflation
d)none
40) BCR = ___ , at appropriate IRR a) zero
b) One
c) Infinite
d) negative
41) Profitability Index = ___? a) NPV/ Cost of initial investment b) Cost of initial investment/ NPV c) Cost of initial investment/ NPV *100 d) NPV/ Cost of initial investment *100
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
42) Stage III in classical production function is ____? a) Sub- Optimal
b) Optimal
c) Supra- Optimal
d) None
43) Elasticity of production in II stage of classical production function is _____? a) 1
b) 0
c) >1
d) <1
44) Slope of isoquant represents ____? a) price ratio
b) MRTS
c) MRPS
d) b & C both
45) MRSy1y2 = ____ a) y2/ y1
b) y1/ y2
c) y2/ y1 d)
y1 / Y
46) Product- Product relation indicatesa) What to produce
b) How to produce
c) How much to produce d) why to produce
47) MPP increases upto a certain point in stage I, which is known as ____? a) Point of inflation
b) Point of inflection
c) Point of certainty
d) Sub-optimal point
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
48) Returns to scale is ____ production function. a) Long run
b) Short run
c) Mid run
d) Applicable to all of these
49) Decisions about machinery and labour programme comes under _____ a) Operational management decisions b) Strategic management decisions c) Administrative management decisions d) Marketing management decisions 50) _____ law is known as â&#x20AC;&#x2DC; Law of lifeâ&#x20AC;&#x2122;. a) LDMU
b) LEMU
c) LDR
d) Classical production function
51) ____ is procedure to find present value of future sum. a) Accounting
b) Compounding
c) Discounting
d) All of these
52) Contribution of livestock product product in mixed farming must not exceed than ____. a) 10%
b) 51%
c) 75%
d) 49%
53) Expression of farm plan in monetary terns is ____ a) Farm accounting
b) farm budgeting
c) Farm book keeping https://horticulturegyan.wordpress.com/
d) Farm monitory planning HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
54) ____ is used to indicate anticipated changes in costs, returns & profits for minor modifications. a) farm budgeting
b) Complete Budgeting
c) Incomplete budgeting
d) Partial budgeting
55)Large farmers are those having ____ land. a) 25 ha & above c) 10 acre
b) 8- 10 ha d) 10 ha & above
56) Details of assets on farm ( purchase year, repairs, etc) are noted in _____ register. a) Land use records b) Permanent deadstock register c) Input records
d) Cash book
57) Art of keeping books of accounts in regular & systematic manner is ____ a) Account
b) Accounting
c) Accountancy
d) All
58) The list of all physical properties of business along with there values at specific point of time is called ____ a) farm recording c) Farm inventory
b) permanent deadstock register d) Farm book keeping
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
59) Debt-equity ratio = ____? a) Owner’s equity/ total liability *100 b) Total liability / Owner’s equity *100 c) Total liability / Owner’s equity d) Owner’s equity / Total liability
60) _______ method is used in project appraisal to estimate the present value of future income stream from the land a) Capital Evalution method b) Income capitalization method c) Land budgeting
d) All
61) When a worker is hired for a production season, he is called as ____ a) Attached labour
b) Casual labour
c) Hired labour
d) contract labour
62) Marketing risk is also called as _____ a) Weather risk
b) financial risk
c) Price risk
d) Policy risk
63) The income generated through borrowings will help to pay part of loan component only, this is the case with _____ a) Self-liquidating loans
b) Partially-liquidating loans
c) Chattel loans
d) Short term loans
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
64) RBI as a central bank of India emerged in year____ a) 1921
b) 1935
c) 1949
d) 1955
65) Share capital of RRB is contributed by central: state: sponsor bank is in the ratio of ____ a) 50:15:35
b) 50:35:15
c) 50:25:25
d) 70:15:15
66) District credit plan is prepared by____ a) Lead bank
b) NABARD
c) RBI
d) SBI
67) During deflation, credit control operation aims at ____ of credit. a) Expansion
b) Contraction c) Stabilization
d) ceiling
68) SFDA & MFAL came in operation on recommendation of ____ a) AIRCRC (1955) b) AIRCSC (1969) c) AIRCRC (1969)
d) AIRCSC (1955)
69) Credit card issued under KCC scheme should normally be valid for ____years. a) 1
b) 3
c) 5
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d) No such limit
HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
70) Indemnity for crop insurance is =_____ a) Shortfall in yield/ sum insured * threshold yield b) Threshold yield/ Shortfall in yield * sum insured c) sum insured / Threshold yield * Shortfall in yield d) Shortfall in yield/ Threshold yield * sum insured
71) Current liability ratio = _______ a) Current liabilities / Ownwerâ&#x20AC;&#x2122;s equity b) Current liabilities / current assets c) Current liabilities / total liabilities d) current liabilities / Owners equity*100
72) Acid-test ratio is also known as ___ a) Leverage ratio b) Debt-equity ratio c) current ratio
d) Quick ratio
73) which of the method of marketing is based on oral agreement ? a) Open auction
b) Closed tender
c) Hattha system
d) Morghum system
74) ______ is trading technique of transferring future price risk. a) Speculation proper c) Hedging
b) speculation improper d) black marketing
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
75) Idea of regulated market is imported into India from ____ a) Portugese
b) Russia
c) Greek
d) Great Britain
76) Royal commission on agriculture was established in year____ a) 1926
b) 1928
c) 1932
d) 1949
77) _____ is the difference between price paid by the consumer & price received by farmer for an equivalent quantity of farm produce. a) Price spread
b) Consumerâ&#x20AC;&#x2122;s surplus
c) Producerâ&#x20AC;&#x2122;s surplus
d) Marketing cost
78) 1st FYP focused on_____sector a) small scale industries b) Overall growth c) Agricuture d) Handloom industry.
79) The standard weights & measures act was passed in _____ a) 1939
b) 1958
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c) 1963
d) 1948
HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
80) Mahalwari system was started by _____ a) Lord Cornwallis
b) William benedict
c) Captain reed
d) Thomas munro
81) Disguised unemployment occurs when ,____ a) AP< 1
b) MP > 0
c) MP < 0
d) AP = 0
82) Movement along demand curve is due to____ a) change in income
b) change in quantity
c) change in shift in demand
d) change in price
83) Remaining value of asset after it’s economic life is called as_____ a) Residual value
b) junk value
c) salvage value
d) All of these
84) Probability ranges from_____ a) -∞ to +∞
b) 0 to 1
c) -1 to +1
d) 1 to 2
85) Livestock census is done after every ____ years a) 3
b) 5
c) 10
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d) 20
HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
86) Data collected from magazines & survey reports is_____ a) Primary data
b) Secondary data
c) Tertiary data
d) Error full data
87) which of the following is correct a) AM≥ GM≥ HM
b) AM≤GM≤HM
c) GM ≤ HM ≤ AM
d) AM ≤ GM ≥ HM
88) In positively skewed distribution=_____ a) Mean = median = mode b) Mean < median < mode c) mean > median > mode d) Mean < median > mode
89) Degree of flatness or peakedness of distribution curve indicates ______ a) Skewness
b) kurtosis
c) both a & b
d) none
90) what is probability of both the heads up ,when two coins are tossed in air ? a) Once
b) twice c) thrice d) multiple times
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
91) A
B
NAFED
1986
CACP
1935
DMI
1972
APEDA
1958
MPEDA
1965
92) A
B
1. Marketing loan
a) Short term loan
2. Consumption loan
b) Indirectly productive loan
3. Collateral security
c) Risk avoiding loan
4. Crop loan
d) Loan pledged on immovable property e) Loan pledged on movable property
5. Mortagage
93) A SFDA GKY IBRD DICGC NCDWB
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B 1945 AIRCRC AIRCSC 1997 1978
HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
94) A
B
Possesion utility
Classical method
Goodwill of business
Empirical method
Sunshine
Buying & selling
Deductive method
Free good
Inductive method
Personal external
95) A Perfect competition
B Alfred Marshall
Monopoly
Product homogeneity
Monopolistic competition Welfare definition Wealth definition 96)
No close substitute Adam smith Product homogeneity
A LAMPS
B Nariman committee
Single window system
Narsimham committee
FSS RRB
Bawa committee Mohan kanda committee
Lead bank scheme
Ojha committee
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
97) A Co-operative joint farming Co-operative tenant farming
B a) Land owned by companies b) Ownership individual & operationship collective
Capitalistic farming
c) Ownership collective & operationship individual
State farming
d) Ownership & operationship individual
Co-operative better farming
e) Well equipped & latest machinery use
98) A MSP
B To protect consumers
Procurement price
Price at fair price shop
Issue price
For sugarcane
FRP
To maintain buffer stock
Ceiling price
To protect farmers interest
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HORTICULTURE....GYAN
Shivendu Pratap Singh Solanki
99) A Theory of population Planned economy of India Principles of political economy and taxation Asian drama Wealth of nations
B David Ricardo Gunner Myrdal Adam smith
Sir. M. vishveraiyya Malthus
100) A Agricultural marketing Indian farming
B Ministry of finance, GOI Ministry of development
Yojana
ICAR
Economic survey
NIAM
Kurukshetra
Ministry of information & broadcasting
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Thank you ------------------------------------------------------***----------------------------------------------------------Prepared by :- Sachin N. Waghmare (Sr. M.sc. student), Dept. of Agril. Econ. , MPKV, Rahuri (MH). https://horticulturegyan.wordpress.com/ HORTICULTURE....GYAN Shivendu Pratap “World of economics is wonderful, because everything precious in life hasSingh it’s Solanki cost”