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Mock questions  Consider the following statements: 1.The Reserve Bank of India manages and services Government of India Securities but not any State Government Securities. 2.Treasury bills are issued by the Government of India and there are no treasury bills issued by the State Governments. 3.Treasury bills offer are issued at a discount from the par value. Which of the statements given above is/are correct? (a) 1 and 2 only (b) 3 Only (c) 2 and 3 only (d) 1, 2 and 3 Which one of the following is not the characteristics of Normal Distribution  A. Bell shaped and symmetric  B. X = M = Z_  C. The total area under the curve for the normal probability distribution is one  D. The two tails of the distribution in the direction touches the horizontal axis Which of the following are plausible approaches to dealing with a model that exhibits heteroscedasticity? i) Take logarithms of each of the variables ii) Use suitably modified standard errors iii) Use a generalised le...

10000 BC First evidence of bartering in parts of Africa.   3000BC Shekels (units of weight) traded in Mesopotamia.  3000BC First evidence of taxation in Ancient Egypt.  600 BC  First evidence of gold and silver coins in Lydia.  350 BC Aristotle declares that property should be private.  360 BC Plato cites specialism in his Republic.  5 BC Earliest example of banking are seen in Ancient Greece.  1000s Feudalism takes hold.  1500s  Mercantilism becomes dominant.  1723  Adam Smith born.  1759 The Theory of moral sentiments by Adam Smith is published.   1776 The wealth of Nations by Adam Smith is published.  1798 Essay on the principal of population by Thomas Robert Malthus is published.  1800 Industrial Revolution ushers in age of capitalism.  1803  Jean -Baptist Say argues that there could never be a shortfall of demand in an economy.  1805 Malthus becomes professor of economics at Hai...

Tax  reforms committees. Tax committees  and  chronological order of taxes. 1.Taxation enquiry commission- 1953-54 Progressive tax structure. 2.Indian tax reform commission/ Kaldor- 1956. He focus on direct taxation . He favor wealth ,capital gain, gift tax and personal expenditure tasx(abolish in 1962)  3.Tax committee for rationalization and simplification of direct taxation/Bhoothalingam’s committee- 1968. Direct tax inquary committee/Wanchoo committee- 1970-71. He focused on black money. K.N.Raj committee on tax on agriculture wealth and income- 1972. 6.Indirect tax enquiry commitee-/L.K.Jha committee- 1977. Focus on union excise duty. This committee Introduced MANVAT.  7.Choksi committee – 1977-78 This committee consolidate 4 taxes- 1.income,2. wealth,3.gift, and sur tax. 8.Chelliah committee- 1991 Rekhi committee- 1993 Focus on indirect tax. 10.Vijay kelkar committee- 2002 Simplification and rationalization of direct and indirect taxes.     ...

Various test in statistics 1. Box jenkins- Forecasting 2. Unit root test- Stationarity  3. Durbin Watson d test- serial correlation 4. Durbin-Watson test- autocorrelation in auto regressive model. 5. Granger test- Causality  6. Goldfeld Quandt test - Heteroscedasticity  7. Dicky fuller test- Stationarity  8. F test- overall significance of regression 9. T distribution- Population parameters  10. Chi sq test- Goodness of fit 11. Dummy variable- Qualitative effects 12. Theory of probability - Uncertain events 13. Sample - mini replica of population 14. Normal distribution - Symmetrical with almost total area with mean + - 30( Sig ma) 15.  R square.. goodness of fit of regression function. 16. Mean is greater than mode-  positively skewed distribution. 17. Mean is less than mode- negatively skewed. 18. Mean is greater than median- Positively skewed. 19. Type I error- Rejection of H0 when it is true. 20 Type II error- Accept H0 when it is false.

NATIONAL INCOME FORMULAE 1. The excess of imports over exports is called 2. trade deficit. 3. 2. The excess of exports over imports is called 4. trade surplus. 5. 3. (NNP FC is the sum total of factor income 6. earned by normal residents of a country during 7. the accounting year) 8. 4. GDP =GNP – NIFA 9. 5. GNP = GDP + NIFA 10. 6. NNP = GNP – Depreciation 11. 7. GNP = NNP + Depreciation 12. 8. NDP = NNP – NIFA 13. 9. NNP = NDP + NIFA 14. 10. NDP = GDP – Depreciation 15. 11. GDP = NDP + Deprecation 16. 12. NNP = NDPFC + X-M 17. 13. GNPFC = GNPMP – Net Indirect Taxes 18. 14. NNPMP = GNP bMP – Depreciation 19. 15. GDPMP = GNPMP – NIFA 20. 16. NDPMP = NNPMP – NIFA 21. 17. NNPFC = NNPMP – Net Indirect Taxes 22. 18. GDPFC = GDPMP – Net Indirect Taxes 23. NDPMP = GDPMP – Depreciation 24. 19. GDPFC = GNPFC – NIFA 25. 20. NNPFC = GNPFC – Depreciation 26. 21. NDPFC = NDPMP – Net Indirect Taxes 27. 22. NDPFC = NNPFC – NIFA 28. 23. NDPFC = GDPFC – Depreciation 29. 24. NNPFC = GNPMP – Depreciation...

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