71. Lowering of value of currency relative to a foreign reference currency is called _________.

1. Devaluation
2. Revaluation
3. Down valuation
4. Negative valuation

Option “A” is correct
Devaluation is a deliberate downward adjustment to the value of a country’s currency relative to another currency.
72. If demand curve for camping tents is D = 100000 – 17P and supply curve is S = 50000 + 8P, find the equilibrium Price?

1. Rs. 1000
2. Rs. 2000
3. Rs. 4000
4. Rs. 500

Option “B” is correct
At equilibrium demand is equal to supply.
73. Fiscal policy in India is formulated by –

1. Reserve Bank of India
2. Planning Commission
3. Finance Ministry
4. SEBI

Option “C” is correct
Fiscal policy in India is formulated by Finance Ministry.
74. What is MUDRA?

1. Development and Refinance Agency
2. Scheme for Agricultural Insurance
3. New Planet Discovered
4. Development and Regulatory Authority for Urban Township

Option “A” is correct
Micro Units Development and Refinance Agency Bank (or MUDRA Bank) is a public sector financial institution in India. It provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs. It was launched by Prime Minister Narendra Modi on 8 April 2015.
75. Full employment is the level at which there is _____.

1. no frictional unemployment
2. no cyclical unemployment
3. no structural unemployment
4. no unemployment

Option “B” is correct
Full employment is the level at which there is no cyclical unemployment.
76. Which of the following is represented by ‘Lorenz Curve’?

1. Employment
2. Inflation
3. Deflation
4. Income Distribution

Option “D” is correct
In economics, the Lorenz curve is a graphical representation of the distribution of income or of wealth.
77. The central nodal agency for implementing the price support operations for commercial crops is:

1. NAFED
2. NABARD
3. TRIFED
4. FCI

Option “A” is correct
National Agricultural Cooperative Marketing Federation of India Ltd is an apex organization of marketing cooperatives for agricultural produce in India, under Ministry of Agriculture, Government of India.
78. The __________ exchange rate is the relative price of foreign goods in terms of domestic goods.

1. Artificial
2. Nominal
3. Fixed
4. Real

Option “D” is correct
The real exchange rate R is defined as the ratio of the price level abroad and the domestic price level, where the foreign price level is converted into domestic currency units via the current nominal exchange rate.
79. ___________ is an alternative way of representing the production function.

1. The Short Run
2. The Long Run
3. Isoquant
4. Average product

Option “C” is correct
An Isoquant Curve shows all the possible combinations of input factors that yield the same quantity of production. In other words, an iso-quant curve is a geometric representation of the production function, wherein different combinations of labor and capital are employed to have the same level of output.
80. ____________ is the relationship between the variable input and output, keeping all other inputs are held constant.

1. Total product
2. Average product
3. Isoquant
4. The Long Run

Option “A” is correct
Total product is the relationship between the variable input and output,keeping all other inputs are held constant.
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