Income Determination Test

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Income Determination Test - 7

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Weekly Quiz Competition

Question 1
1 / -0

If investment increases from 250 to 370 and income increases from 1,800 to 3,000, the value of MPS will be:

A
0.1

B
0.2

C
0.3

D
0.4
Question 2
1 / -0

When the level of saving increases by 500, income increases by 2,000, the value of multiplier will be:

A
0.25

B
0.33

C
4

D
5
Question 3
1 / -0

A situation when AS = AD along with fuller utilisation of resources in the economy is called:

A
underemployment equilibrium

B
full employment equilibriu

C
equilibrium without excess capacity

D
both (b) and (c)
Question 4
1 / -0

In case of underemployment equilibrium:

A
AS = AD

B
there is excess capacity in the economy

C
resources are not fully utilised

D
all of these
Question 5
1 / -0

Full employment:

A
is consistent with ‘natural rate of unemployment’

B
occurs when demand for labour force = supply of labour force

C
is a situation of zero unemployment

D
both (a) and (b)
Question 6
1 / -0

Problem of unemployment refers to:

A
the problem of voluntary unemployment

B
the problem of involuntary unemployment

C
both (a) and (b)

D
neither (a) nor (b)
Question 7
1 / -0

Excess demand refers to a situation when:

A
AD > AS (corresponding to full employment level)

B
AD < AS (corresponding to full employment level)

C
AS > AD (corresponding to underemployment level)

D
none of these
Question 8
1 / -0

Deficient demand leads to:

A
deflationary gap

B
excess capacity

C
low level of employment

D
all of these
Question 9
1 / -0

Planned AD is short of its full employment level in a situation of:

A
excess demand

B
deficient demand

C
inflationary gap

D
none of these
Question 10
1 / -0

Inflationary gap is measured as:

A
AD_E + AD_F

B
AD_E – AD_F

C
AD_E × AD_F

D
AD_E ÷ AD_F

Solution

(Here, ADE = Aggregate demand beyond full employment; ADF = Aggregate demand at full employment.)

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Re-Attempt Weekly Quiz Competition

Income Determination Test - 7

Result

Income Determination Test - 7

Score

-

Rank

-

SHARING IS CARING

Question 1

0.1

0.2

0.3

0.4

Question 2

0.25

0.33

4

5

Question 3

underemployment equilibrium

full employment equilibriu

equilibrium without excess capacity

both (b) and (c)

Question 4

AS = AD

there is excess capacity in the economy

resources are not fully utilised

all of these

Question 5

is consistent with ‘natural rate of unemployment’

occurs when demand for labour force = supply of labour force

is a situation of zero unemployment

both (a) and (b)

Question 6

the problem of voluntary unemployment

the problem of involuntary unemployment

both (a) and (b)

neither (a) nor (b)

Question 7

AD > AS (corresponding to full employment level)

AD < AS (corresponding to full employment level)

AS > AD (corresponding to underemployment level)

none of these

Question 8

deflationary gap

excess capacity

low level of employment

all of these

Question 9

excess demand

deficient demand

inflationary gap

none of these

Question 10

ADE + ADF

ADE – ADF

ADE × ADF

ADE ÷ ADF

Solution

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AD_E + AD_F

AD_E – AD_F

AD_E × AD_F

AD_E ÷ AD_F