NITI Aayog has been formed to replace which of the following inst

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 Multiple Choice QuestionsMultiple Choice Questions

221.

Diamonds are priced higher than water because

  • their total utility to buyers is higher than that of water

  • consumers do not buy them at a lower price

  • they are sold by selected firms with monopolistic powers

  • their marginal utility to buyers is higher than that of water

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222.

The famous economist Thomas Robert Malthus, in his views regarding population, is

  • optimistic

  • partly optimistic and partly pessimistic

  • pessimistic

  • None of the above

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223.

Non-insurable or uncertainty risk is

  • change in fashion

  • fire

  • flood

  • change in the price of that commodity

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224.

'Gold Bullion Standard' refers to

  • gold coin as an unlimited legal tender

  • gold as the measure of value

  • free coinage of gold

  • no restriction on import and export of gold

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225.

The word 'Oikonomia' means

  • Household Management

  • Individual Management

  • Political Management

  • Fiscal Management

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226.

The word 'Economics' is taken from which language?

  • French

  • Greek

  • German

  • English

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227.

At which rate, Reserve Bank of India borrows money from commerical Banks?

  • Bank Rate

  • Repo Rate

  • Reverse Repo Rate

  • Statutory Liquidity Rate

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228.

Movement along the supply curve is known as .................

  • contraction of supply

  • expansion of supply

  • increase in supply

  • expansion and contraction of supply

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229.

NITI Aayog has been formed to replace which of the following institution?

  • Planning Commission

  • I.R.D.A.

  • Department of Telecommunications (DoT)

  • Department of Information Technology


A.

Planning Commission

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230.

In which of the following case, law of demand fails?

  • Giffen goods

  • Normal goods

  • Inferior goods

  • Both Giffen and Inferior goods

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