# SSC CGL Tier II Economics(Micro) Quiz for the post of AAO

Q1. Marginal product, mathematically, is the slope of the
(a) total product curve
(b) average product curve
(c) marginal product curve
(d) implicit product curve

Q2. Suppose the first four units of a variable input generate corresponding total outputs of 200, 350, 450, 500. The marginal product of the third unit of input is:
(a) 50
(b) 100
(c) 150
(d) 200

Q3. Money laundering normally involves?
(a) Placement of funds
(b) Layering of funds
(c) Integrating of funds
(d) All of the above

Q4. The law of diminishing marginal returns indicates that marginal return
(a) always diminish
(b) eventually diminish
(c) always diminish before increasing
(d) never diminish before increasing

Q5. Diminishing marginal returns for the first four units of a variable input is exhibited by the total product sequence:
(a) 50, 50, 50, 50
(b) 50, 110, 180, 260
(c) 50, 100, 150, 200
(d) 50, 90, 120, 140

Q6. Capital Market Regulator is?
(a) RBI
(b) IRDA
(c) NSE
(d) SEBI

Q7. If marginal product is equal to average product, then:
(a) marginal product is increasing
(b) marginal product is decreasing
(c) average product is decreasing
(d) average product is not changing

Q8. The stance of RBI monetary policy is?
(a) Inflation control with adequate liquidity for growth
(b) Improving credit quality of the Banks
(c) Strengthening credit delivery mechanism
(d) All of the above

Q9. Currency Swap is an instrument to manage?
(a) Currency risk
(b) Interest rate risk
(c) Cash flows in different currency
(d) Currency and interest rate risk

Q10. In the third of the three stages of production:
(a) the marginal product curve has a positive slope
(b) the marginal product curve lies completely below the average product curve
(c) total product increases
(d) marginal product is positive

Q11. When marginal costs are below average total costs,
(a) average fixed costs are rising
(b) average total costs are falling
(c) average total costs are rising
(d) average total costs are minimized

Q12. If the average cost is falling, due to:
(a) Marginal cost is rising
(b) Marginal cost is constant
(c) Marginal cost is equal to average cost
(d) is the average fixed cost If the marginal cost is not rising

Q13. In the long run, if a very small factory were to expand its scale of operations, it is likely that it would initially experience
(a) an increase in pollution level
(b) diseconomies of scale
(c) economies of scale
(d) constant returns to scale

Q14. The difference between average total cost and average variable cost:
(a) is constant
(b) is total fixed cost
(c) gets narrow as output decreases
(d) it is impossible to tell if marginal cost is rising or falling

Q15. Open market operations, one of the measures taken by RBI in order to control credit expansion in the economy means?
(a) Sale or purchase of Govt. securities
(b) Issuance of different types of bonds
(c) Auction of gold
(d) All of the above
SOLUTIONS

S1. Ans.(a)
Sol.

S2. Ans.(b)
Sol.

S3. Ans.(d)
Sol.

S4. Ans.(b)
Sol.

S5. Ans.(d)
Sol.

S6. Ans.(d)
Sol.

S7. Ans.(d)
Sol.

S8. Ans.(d)
Sol.

S9. Ans.(c)
Sol.

S10. Ans.(b)
Sol.

S11. Ans.(b)
Sol.

S12. Ans.(d)
Sol.

S13. Ans.(c)
Sol.

S14. Ans.(d)
Sol.

S15. Ans.(a)
Sol.

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