wayground logo

Free Printable Worksheets

Font size

S
M
L
XL
Worksheets

ECOGNITION

Total questions: 37

Worksheet time: 51mins

Name
Class
Date
1.

The objective of the Science of Economics is to maximize the

a)

A. Growth of Economy

b)

B. Wealth of Nations

c)

C. Well-being of Society

d)

D. Mobility of Factors of Production

2.

If Qd =10 - 3p and Qs = 2 + 5p , then price elasticity of supply at the market equilibrium price and quantity is

a)

A. 0.43

b)

B. 0.71

c)

C. 1.40

d)

D. 2.33

3.

In economics, efficiency is achieved at the point when

a)

A. MB=MC

b)

B. MB>MC

c)

C. MB<MC

d)

D. AC is lowest

4.

How would the indifference curve between breakup and exam drop look like?

a)

A. L-shaped

b)

B. straight line

c)

C. convex to the origin

d)

D. concave to the origin

5.

Suppose your income has increased by Tk.100, which leads your demand for potato to decrease. So, potato is a

a)

A. normal good

b)

B. inferior good

c)

C. Giffen good

d)

D. necessary good

6.

Industrial market structure of the Commercial Banking sector in Bangladesh is

a)

A. monopoly

b)

B. oligopoly

c)

C. perfect competition

d)

D. monopolistic competition

7.

Scarcity implies

a)

A. wants > resources

b)

B. demand > supply

c)

C. cost > benefit

d)

D. expenditure > income

8.

In the above figure, consumer surplus is

a)

A. 18

b)

B. 36

c)

C. 48

d)

D. 72

9.

If you maximize Z= X0.6 Y0.4 subject to 3X+2Y=100,

then (X, Y) =

a)

A.20, 20

b)

B.20, 30

c)

C.30, 20

d)

D.30, 30

10.

Which of the following is not an economic input?

a)

A. Air

b)

B. Labour

c)

C. Money

d)

D. Entrepreneurship

11.

Which of the following statement is true?

a)

A. GDP does not account your dating bills

b)

B. GDP will fall if you marry your maid

c)

C. Biriani cooked by your mom at home contributes to GDP

d)

D. GDP will rise if you sent $1000 remittance to your brother from aboard

12.

According to the Keynesian psychological law of consumption, if real disposable income increases by Tk.1500, private consumption expenditures will

a)

A. increase by less than Tk.1500

b)

B. increase by more than Tk.1500

c)

C. decrease by less than Tk.1500

d)

D. decrease by more than Tk.1500

13.

Which of the followings are assets of Central Bank? Select at least two items

a)

A. Currency in circulation

b)

B. Foreign exchange reserve

c)

C. Reserves of commercial banks

d)

D. Government Deposits

e)

E. Treasury Bonds

14.

The current GDP growth rate of Bangladesh is 7.2%. How many years it would need to double the GDP?

a)

A. 5

b)

B. 7.2

c)

C. 9.7

d)

D. 17.2

15.

How frequently

Bangladesh Bank does announce the monetary policy.


a)

A. Monthly

b)

B. Quarterly

c)

C. Half-yearly

d)

D. Annually

16.

Which of the following methods are used for GDP measurement in Bangladesh?

a)

A. income and product

b)

B. product and expenditure

c)

C. income and expenditure

d)

D. product, income and expenditure-all of three methods

17.

Total civilian adult population [> age 16] of Bangladesh is 12 crore and 80% of adult population are in the labour force. If numbers of employed persons is 8 crore, then unemployment rate is

a)

A. 10%

b)

B. 15.3%

c)

C. 16.7%

d)

D. 20%

18.

If the currency in circulation is Tk.100 crore, reserves in the banks are Tk.400 and deposits are of Tk.2000, then money multiplier is

a)

A. 2

b)

B. 4

c)

C. 5

d)

D.10

19.

If your wage income is Tk.20000 and inflation rate is 5%, then your real income is Tk

a)

A. 4000

b)

B. 19000

c)

C. 19048

d)

D. 400000

20.

In the figure below, which of the following curves represents the long-run Phillips curve?

a)

A. 1

b)

B. 2

c)

C. 3

d)

D. 4

21.

Find the Economist in the frame

a)

A. Adam Smith

b)

B. J. M. Keynes

c)

C. John Nash

d)

D. Karl Marx

22.

Which of the following economists were employees of British East India Company in their early career? Find all of them

a)

A. David Ricardo

b)

B. Thomas Malthus

c)

C. J. M. Keynes

d)

D. J.B. Say

e)

E. John Stuart Mill

23.

What is the current largest source of revenue for the Bangladesh government?

a)

A. Income Tax

b)

B. Value Added Tax

c)

C. Customs & Excises

d)

D. Land Registration Fee

24.

Long-term plan for national development in Bangladesh is known as

a)

A. Delta Plan

b)

B. Perspective Plan

c)

C. Five Year Plan (FYP)

d)

D. Annual Development Program (ADP)

25.

The Laffer curve shows that ________ tax rates ________tax revenue when tax rates are initially ________.

a)

A. increasing; increases; low

b)

B. increasing; increases; high

c)

C. decreasing; increases; low

d)

D. decreasing; decreases; high

26.

Concepts of Human Development Index (HDI) is introduced jointly by


D. Karl Marx & Amartya Sen

a)

A.Joesh Stigliz & John Nash

b)

B. Joesh Stigliz & Amartya Sen

c)

C. John Nash & Mahbub ul Haq

d)

D. Amartya Sen & Mahbub ul Haq

27.

Natural environment is a

a)

A. Public Good

b)

B. Private Good

c)

C. Club Good

d)

D. Common Good

28.

Who is the only woman Nobel Laureate in Economics?

a)

A. Elinor Ostrom

b)

B. Joseph Alois

c)

C. Joan Robinson

d)

D. Wassily Leontief

29.

A local bank reports that 80% of its customers maintain a checking account, 60% have a savings account, and 50% have both. If a customer is chosen at random, what is the probability the customer does not have either a checking or a savings account?

a)

A. 0.1

b)

B. 0.2

c)

C. 0.5

d)

D. 0.9

30.

GDP growth of Bangladesh is 7.2% and net national savings ratio is 28%. According to the Harrod Domar model, our national capital output ratio is

a)

A.0.25

b)

B. 5

c)

C. 3.88

d)

D. 35.2

31.

Suppose that the quantity of tomatoes demanded by a household depends on tomatoes’ price. Let show this relation through a regression equation

Qt = βconstant + βpPt + et

where, Qt is quantity of tomatoes demanded; Pt is the price of tomatoes.

Apart from price, other factor, say household income influences Qt. Can you identify which notation will include household income with other factors?

a)

A. βconstant

b)

B. βp

c)

C. et

d)

D. none

32.

If you were working full-time now, you could have earn Tk.50,000 per month. Instead, you are working part-time while studying at university. In your current part-time job, you earn Tk.20,000 per month. Your monthly living expenses and cost of tuition, books, and other fees is Tk.10,000. The monthly economic cost of completing your education is:

a)

A. Tk.10000

b)

B. Tk.30000

c)

C. Tk.40000

d)

D. Tk.80000

33.

What would happen to the market for pizza if prices of eggs go up

a)

A. P↑Q↑

b)

B. P↓Q↓

c)

C. P↓Q↑

d)

D. P↑Q↓

34.

What is the situation when expansionary fiscal policy does not lead to a rise in aggregate output?

a)

A. Paradox of thrift

b)

B. Fallacy of Composition

c)

C. Crowding out

d)

D. Liquidity Trap

35.

According to Ricardo, a country will have a comparative advantage in:

a)

A. Industries in which there are neither imports nor export

b)

B. import competing industries

c)

C. Industries that sell to domestic and foreign buyers

d)

D.industries that sell to only foreign buyers

36.

"Transformation of dual sector economy into mono sector economy is development. "- the position belongs to

a)

Classical Theory

b)

Lewis Theory

c)

Bigh Push Theory

d)

Minimum Critical Effort

37.

A Beautiful Mind is Oscar winning movie based on the life of Nobel laureate Economist.........................

a)

Karl Marx

b)

Adam Smith

c)

Krugman

d)

John Nash