CPT General Economics Practice test

The price of petrol has increased by 30% in last one year. But the demand for petrol has increased. What type of good is petrol?

Suresh prefers watches over sunglasses and sunglasses over perfumes, but he prefers perfumes over watches. Which important assumption of consumer utility is he violating?

1. Demand increases as price decreases

2. Price increases as demand decreases

3. Supply increases as price increases

4. Demand decreases as price increases

Which of the above is true?

Which of the following is NOT the part of second generation reforms agenda

What is the name of the group formed by underdeveloped countries for negotiating at WTO?

The economy of Wozoland is show signs of high growth and inflation. The central bank is thinking of ways to tackle the situation. What would it do?

The central bank notices that the money supply in the economy has increasesed. What could be the possible effect of this

India imports a lot of crude oil and gold. The fall in rupee value with respect to dollar is likely to have what consequences?

Reverse Repo rate the rate at which

Which of the following describes the Indian Economy best


This test is designed to evaluate the student's conceptual understanding of the important topics in the CPT exam. Being of analytic nature it is very useful for the students appearing in the CPT Economics paper to test their understanding. All the Best! - Prof. Mukul Sharma

Mukul Sharma
Professor in Economics

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