ICAR-JRF-EXAM-2017 MOCK TEST SERIES AGRIL.ECONOMICS · PDF fileMOCK TEST SERIES...

https://horticulturegyan.wordpress.com/ HORTICULTURE....GYAN Shivendu Pratap Singh Solanki

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


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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 wrong-

a) 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

ICAR-JRF-EXAM-2017- MOCK TEST( Agril. Economics)

“Stop doubting urself, work hard & make it happen”


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


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 b) Oligopoly

c) Perfect competitive market 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


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


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 sequence-

a) 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


25) NI accounting is function of _____?

a) NSSO b) CSO

C) Ministry of Agriculture d) All collectively

26) Which of the following is correct-

a) 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 –

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


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 b) Right hand side

c) Below equity 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 b) Journal

c) Trial balance d) final accounts


37) Which of the following is proper project cycle-

a) conception formulation Appraisal Implementation

Monitoring Evaluation

b) formulation conception Appraisal Implementation


c) Appraisal formulation conception Implementation


d) Appraisal conception formulationImplementation


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


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 indicates-

a) 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


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 ‘ Law of life’.

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 d) Farm monitory planning


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 b) 8- 10 ha

c) 10 acre 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 b) permanent deadstock register

c) Farm inventory d) Farm book keeping


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


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 d) No such limit


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 / Ownwer’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 b) speculation improper

c) Hedging d) black marketing


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) Consumer’s surplus

c) Producer’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 c) 1963 d) 1948


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 d) 20


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


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

5. Mortagage e) Loan pledged on movable property

93)

A B

SFDA 1945

GKY AIRCRC

IBRD AIRCSC

DICGC 1997

NCDWB 1978


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 B

Perfect competition Alfred Marshall

Monopoly Product homogeneity

Monopolistic

competition

No close substitute

Welfare definition Adam smith

Wealth definition Product homogeneity

96)

A B

LAMPS Nariman committee

Single window system Narsimham committee

FSS Bawa committee

RRB Mohan kanda committee

Lead bank scheme Ojha committee


97)

A B

Co-operative joint

farming

a) Land owned by companies

Co-operative tenant

farming

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 B

MSP 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


99)

A B

Theory of population David Ricardo

Planned economy of

India

Gunner Myrdal

Principles of political

economy and

taxation

Adam smith

Asian drama Sir. M. vishveraiyya

Wealth of nations Malthus

100)

A B

Agricultural

marketing

Ministry of finance, GOI

Indian farming Ministry of development

Yojana ICAR

Economic survey NIAM

Kurukshetra Ministry of information & broadcasting

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Thank you ------------------------------------------------------***----------------------------------------------

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Prepared by :- Sachin N. Waghmare

(Sr. M.sc. student),

Dept. of Agril. Econ. ,

MPKV, Rahuri (MH).

“World of economics is wonderful, because everything precious in life has it’s cost”

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