11/22/22, 4:07 PM End Sem: Attempt review

Dashboard / My courses / HS202 / End Sem / End Sem

Started on Wednesday, 11 May 2022, 10:00 AM

State Finished
Completed on Wednesday, 11 May 2022, 10:54 AM
Time taken 54 mins 7 secs

Question 1
Complete
Marked out of 0.25

Insurance Regulatory and Development Authority was set up to regulate and promote the insurance business on competitive lines

Select one:

False

Question 2
Complete
Marked out
of 0.25

A view "Economics as the science of wealth” seen in new classical economics

Select one:
True

Question 3
Complete
Marked out of 0.25

Assets are things a firm owns or what a firm can claim from others

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 1121
11/22/22, 4:07 PM End Sem: Attempt review

Question 4
Complete
Marked out of 0.25

Each seller produces a product that has no unique characteristics so buyers “don't care” about which seller's product to buy in monopolistic
market

Select one:
True

Question 5
Complete
Marked out of 0.25

Competition among the few is a features of

a. Monopoly
b. Monopolistic

Question &
Complete
Marked out of 0.25

An accountant measures the firm's accounting profit as the firm's total revenue minus only the firm's explicit costs

Select one:

False

Question 7
Complete
Marked out of 0.25

In the view of supply, at high prices, there is more incentive to increase production of a good

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 2121
11122122, 4:07 PM End Sem: Attempt review
Question 8
Complete
Marked out of 0.25

Commercial banks are the other type of institutions which are a part of the money-creating system of the economy.

Select one:

False

Question 9
Complete
Marked out of 0.25

In the classical economists, money does not exert influences on the real economy

Select one:

False

Question 10
Complete
Marked out of 0.25

In India, the supply of money is regulated by the Reserve Bank of India (RBI) which acts as the monetary authority of the country.
Select one:

False

Question 11
Complete
Marked out of 0.25

The short-term increase in supply causes manufacturing costs to rise, leading to a further increase in price. The price change in turn increases
the desired rate of production.

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 321
11/22/22, 4:07 PM End Sem: Attempt review

Question 12
Complete
Marked out of 0.25

A market where there is a large number of buyers and sellers of commodity known as_

a. Monopoly
b. Monopolistic

%Perfect Competition

Question 13
Complete
Marked out of 0.25

The higher the price, the higher the quantity supplied

Select one:

False

CQuestion 14
Complete
Marked out of 0.25

The difference between the revenue and cost is called the firm's profit

Select one:

False

Question 15
Complete
Marked out of 0.25

The relationship between the price of a good and the quantity which consumers are willing to purchase in a given time period, this is known
as a simple demand curve.

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 4121
11/22/22, 4:07 PM End Sem: Attempt review

Question 16
Complete
Marked out of 0.25

Many producers sell products that are differentiated from one another known as

a. Perfect competition

b. Oligopoly

Question 17
Complete
Marked out of 0.25

Imperial Bank of India was taken over by the Government under the State Bank of India, Act, 1955, effective from June 1, 1955.

Select one:

False

Question 18
Complete
Marked out of 0.25

When price increases, the willingness and ability of sellers to offer goods will decrease, while the willingness and ability of buyers to purchase
goods will increase.

Select one:
True

ap
Question 19
Complete
Marked out of 0.25

The role of markets for smith is to enable production to expand both qualitatively and quantitively and thereby to fosterto wealth of
nations.

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 521

11/22/22, 4:07 PM End Sem: Attempt review

Question 20
Complete
Marked out of 0.50

Types of Market

a.4

b.3

Question 21
Complete
Marked out of 0.25

An Essay on the Nature and Significance of Economic Science written by Alferd Marshal

Select one:
True

Question 22
Complete
Marked out of 0.25

Classical economists viewed economics as a

a. welfare distribution

¢beeatven
c. science of welfare

Question 23
Complete
Marked out of 0.25

Oligopoly is a market in which When one firm acts, the others tend to follow

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 6/21
11/22/22, 4:07 PM End Sem: Attempt review

Question 24
Complete
Marked out of 0.25

In perfect competition, the firm’s marginal revenue equals the market price.

Select one:

False

Question 25
Complete
Marked out of 0.25

In the short run, some of the factors of production cannot be varied, and therefore, remain fixed. The cost that a firm incurs to employ these
fixed inputs is called the total fixed cost (TFC).

Select one:

False

Question 26
Complete
Marked out of 0.25

Robbins assumption fails to explain fully the nature of ‘end" and the difficulties associated with it.

Select one:

False

Question 27
Complete
Marked out
of 0.25

Ricardo focused on wealth production.

Select one:
True

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 7121
11/22/22, 4:07 PM End Sem: Attempt review

Question 28
Complete
Marked out of 0.25

The manufacturers are supplying goods at a rate equal to the consumer demand, the static classical theory would propose that

| o bt g
b. Market Surplus
c. Market Shortage

Question 29
Complete
Marked out of 0.25

When the market price for a product is high, the demand will be low

Select one:

False

Question 30
Complete
Marked out of 0.25

Marginal product of an input is defined as the change in output per unit of change in the input when all other inputs are held constant.

Select one:

False

Question 31
Complete
Marked out of 0.25

Commercial banks mediate between individuals or firms with excess funds and lend to those who need funds.

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 8/21
11/22/22, 4:07 PM End Sem: Attempt review

Question 32
Complete
Marked out of 0.25

The RBI can influence money supply by changing the rate at which it gives loans to the commercial banks. This rate is called the Bank Rate
in India.

Select one:

False

Question 33
Complete
Marked out of 0.50

Liabilities = Deposits

Select one:

False

Question 34
Complete
Marked out of 0.25

Elasticity refers to the degree of responsiveness of one variable to another.

Select one:

False

Question 35
Complete
Marked out of 0.25

The emphasis on neoclassical equilibrium is not on production and dynamic efficiency

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 921
11/22/22, 4:07 PM End Sem: Attempt review

Question 36
Complete
Marked out of 0.25

An Essay on the Nature and Significance of Economic Science written in the year of 1976

Select one:

e
True

Question 37
Complete
Marked out of 0.25

Buyers and sellers react in opposite ways to a change in price.

Select one:

False

Question 38
Complete
Marked out of 0.25

Law of variable proportions say that the marginal product of a factor input initially rises with its employment level

Select one:

False

Question 39
Complete
Marked out
of 0.25

Ecological Economics focused on cost-benefit analysis

Select one:
True

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 10/21

11/22/22, 4:07 PM End Sem: Attempt review

Question 40
Complete
Marked out of 0.25

The law of demand states that, if all other factors remain equal, the lower price of a good, the less people will demand that good.

Select one:
True

-y
Question 41
Complete
Marked out of 0.25

A market situation or a type of market organizational in which a few firms control the supply of a commodity known as

a. Monopoly
b. Monopolistic

Question 42
Complete
Marked out of 0.25

The central focus of economics is on and choices among their alternative uses

b. alternative of resources

c. availability of resources

Question 43
Complete
Marked out of 0.25

Based on the Classical economists wage to labour is the only source of wealth to a nation.

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 1721

11/22/22, 4:07 PM End Sem: Attempt review

Question 44
Complete
Marked out of 0.50

The value of all goods and services can be expressed in monetary units.

Question 45
Complete
Marked out of 0.25

Supply of goods to another country is called export trade, while purchase of goods from another country is referred to as import trade.

Select one:

False

Question 46
Complete
Marked out of 0.25

Average product is defined as the output per unit of variable input

Select one:

False

Question 47
Complete
Marked out of 0.25

Once output has been produced, the firm sell it in the market and earns revenue.

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 12121
11/22/22, 4:07 PM End Sem: Attempt review

Question 48
Complete
Marked out of 0.25

The production function of a firm is relationship between inputs produced and output—by the firm.

Select one:
True

Question 49
Complete
Marked out of 0.25

money can act as a store of value for individuals.

Select one:

False

Question 50
Complete
Marked out of 0.25

The inputs that firm uses in the production process are called factors of consumptio

Select one:
True

®*
Question 51
Complete
Marked out
of 0.25

Average Product is defined as the output whole unit of variable input.

Select one:
True

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 13/21

11/22/22, 4:07 PM End Sem: Attempt review
Question 52
Complete
Marked out of 0.25

The international society for ecological economics was founded by participants at workshop in Sweden

Select one:
True

Question 53
Complete
Marked out of 0.25

Implicit costs input costs that do not require an outlay of money by the firm

Select one:

False

Question 54
Complete
Marked out of 0.25

Regional Rural Banks Act came in

a.1971

b. 1972

d. 1970

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 14/21

11/22/22, 4:07 PM End Sem: Attempt review

Question 55
Complete
Marked out of 0.25

Bank of India was set up in

a. 1904

Question 56
Complete
Marked out of 0.25

the manufacturers are supplying goods at a rate equal to the consumer demand, the static classical theory would propose that the market
surplus

Select one:
True

Question 57
Complete
Marked out of 0.25

In order to get their inventory back to the desired level, the suppliers would have to decrease production and reduce the price.

Select one:

False

Question 58
Complete
Marked out of 0.25

Marginal Product of an input is defined as the change in output per unit of change in the input when all other inputs are held constant.

Select one:

False ‘

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 15/21
11/22/22, 4:07 PM End Sem: Attempt review

Question 59
Complete
Marked out of 0.25

A book ‘An Enquiry into the Nature and Causes of Wealth of Nations' written by Ricardo

Select one:
True

Question 60
Complete
Marked out of 0.25

Economics as the law that governs mankind in the production of wealth stated by

a. Adam Smith

b.J.
B Say

d. Ricardo

Question 61
Complete
Marked out of 0.25

The demand for a firm's product is perfectly elastic is a feature of monopoly market.
Select one:
True

CQuestion 62
Complete
Marked out of 0.25

Money acts as a convenient unit of account

Select one:

False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 16/21
11/22/22, 4:07 PM End Sem: Attempt review
Question 63
Complete
Marked out of 0.25

The critics observed that wealth was given primary role while human life was given secondary role.

Select one:

False

Question 64
Complete
Marked out of 0.25

Economic exchanges without the mediation of money are referred

b. Neoclassical

c. Classical

d. Loan

Question 65
Complete
Marked out of 0.25

The Imperial Bank of India was Nationalized and named SBI in

c. 1936

d. 1956

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 17121
11/22/22, 4:07 PM End Sem: Attempt review
Question 66
Complete
Marked out of 0.25

Asingle seller of a particular product with not strong competition from any other seller known as

a. Monopolistic
b. Oligopoly

Question 67
Complete
Marked out of 0.25

The classical presented the idea of a systematic tendency toward the equalization of profit rates across industries.

Select one:

False

Question 68
Complete
Marked out of 0.25

The first Indian owned bank was the

a. Canara Bank

b. State Bank of India

d. Punjab National Bank

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=82973&cmid=2812&showall=1 18/21
11/22/22, 4:07 PM End Sem: Attempt review

Question 69
Complete
Marked out of 0.25

Royal Commission on India Currency and finance set up in

a.1931

b. 1932

d. 1935

Question 70
Complete
Marked out of 0.25

Indian banking system consists of non scheduled banks and scheduled banks.

Select one:

False

Question 71
Complete
Marked out of 0.25

Classical economists focused on the importance of wealth rather than human beings in economic life

Select one:

False

Question 72
Complete
Marked out of 0.25

Technological Monopoly — based on ownership or control of a manufacturing method, process or other scientific advance.

Select one:

e
False

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 19/21

11/22/22, 4:07 PM End Sem: Attempt review

Question 73
Complete
Marked out of 0.25

The optimal scale is characteristics of Ecological Economics

Select one:

False

Question T4
Complete
Marked out of 0.25

Principal of Economics written by Adam Smith

Select one:
True

Question 75
Complete
Marked out of 0.25

economics s the study of rational behavior of people as they maximize their material welfare stated by Robinsons

Select one:
True

Question 76
Complete
Marked out of 0.25

Economics is the science of production, distribution and consumption of wealth stated by

a. Adam Smith

b.J.S. Mill

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 20/21

11/22/22, 4:07 PM End Sem: Attempt review

Question 77
Complete
Marked out of 0.25

According to the classical economists, money exert influences on the real economy, it being neutral

Select one:
True

~ MID SEM

Jump to...

https://betamoodle.iitvadodara.ac.in/mod/quiz/review.php?attempt=8297 3&cmid=2812&showall=1 21/21