Fundamentals of Economics

Q 41. Production creates __________ utility.

(A) Place
(B) Time
(C) Form
(D) possession
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Q 42. Point Elasticity was propounded by ________________

(A) Alfred Marshall
(B) Adam Smith
(C) Lionel Robbins
(D) Jacob Viner
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Q 43. Micro-economics deals with the ___________

(A) economic behavior of the individual
(B) economy as a whole
(C) trade relations
(D) economic growth of the society
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Q 44. The ‘Welfare definition’ of Economics was introduced by ______________

(A) Adam Smith
(B) Alfred Marshall
(C) Lionel Robbins
(D) J. R. Hicks
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Q 45. On the basis of functions, financial markets are classified into _________ types.

(A) 5
(B) 4
(C) 3
(D) 2
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Q 46. Money market is controlled by the ___________

(A) RBI
(B) Government
(C) IDBI
(D) IMF
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Q 47. __________ is one among the qualitative credit control instruments used by the RBI.

(A) Bank Rate Policy
(B) Moral Suasion
(C) Open Market Operations
(D) Cash Reserve Ratio
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Q 48. SDRs are used in place of _________

(A) commercial papers
(B) gold
(C) shares
(D) company deposits
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Q 49. The money supply affects the rate of interest; when the money supply increases, rate of interest will be decreased. It is explained by _____________

(A) Keynes
(B) Walker
(C) Robbins
(D) Crowther
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Q 50. The primary functions of money are of ______ types.

(A) 2
(B) 3
(C) 4
(D) 5
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