11th English One Mark Question-2
11th English One Mark Question-2
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Multiple Choice Questions a. Alfred Marshall b. Adam Smith
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1. ‘Economics is a study of mankind in the ordinary c. Lionel Robbins d. Paul A Samuelson
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business of life’ -It is the statement of 8. “Economics studies human behaviour as a
a. Adam Smith b. Lionel Robbins relationship between ends and scarce means which have
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c. Alfred Marshall d. Samuelson alternative uses” is the definition of economics of
2. The basic problem studied in Economics is a. Lionel Robbins b. Adam Smith
a. Unlimited wants b. Unlimited means
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c. Scarcity d. Strategy to meet all our wants 9. Who is the Father of Economics?
3. Microeconomics is concerned with a. Max Muller b. Adam Smith
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statement is—
d. The interactions within the entire economy a. Relation between cause and effect
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4. Which of the following is a microeconomics b. Use of deductive method and inductive method for
statement? the formations of laws c. Experiments
a. The real domestic output increased by 2.5 percent d. All of the above
last year. 11. Utility means
b. Unemployment was 9.8 percent of the labour force a. Equilibrium point at which demand and supply are
last year. equal
c. The price of wheat determines its demand b. Want-satisfying capacity of goods and services
d. The general price level increased by 4 percent last c. Total value of commodity d. Desire for goods and
year. services
5. Find the odd one out: 12. A market is
a. “An inquiry into the nature and the causes of the a. Only a place to buy things
Wealth of Nations” b. Only a place to sell things
b. “Principles of Economics” c. Only a place where prices adjust
c. “Nature and Significance of Economic Science” d. A system where persons buy and sell goods directly
d. “Ceteris paribus” or indirectly
6. The equilibrium price is the price at which 13. Which one of the following is not a point in the
a. Everything is sold Welfare Definition of Economics?
b. Buyers spend their money a. Study of an ordinary man
c. Quantity demanded equals quantity supplied b. Economics does not focus on wealth alone
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c. Economics is the study of material welfare 1. Pick the odd one out
d. Economics deals with unlimited wants and limited a. Luxuries b. Comforts
means c. Necessaries d. Agricultural goods
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14. Growth definition takes into account
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2. Choice is always constrained or limited by the _____
a. The problem of choice in the dynamic framework of of our resources.
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Economics a. Scarcity b. Supply
b. The problem of unlimited means in relation to wants c. Demand d. Abundance
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c. The production and distribution of wealth
3. The chief exponent of the Cardinal utility approach
d. The material welfare of human beings
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15. Which theory is generally included under micro
a. J.R.Hicks b. R.G.D.Allen c. Marshall d. Stigler
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economics?
4. Marginal Utility is measured by using the formula of
a. Price Theory b. Income Theory
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a. TUn-TUn-1 b. TUn-TUn+1
c. Employment Theory d. Trade Theory
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c. TUn+TUn+1 d. TUn-TUn+1
16. ....................... have exchange value and their
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ownership rights can be established and exchanged 5. When marginal utility reaches zero, the total utility
a. Goods b. Services c. Markets d. Revenue will be
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17. Identify the correct characteristics of utility a. Minimum b. Maximum c. Zero d. Negative
a. It is equivalent to ‘usefulness’ b. It has moral 6. Gossen’s first law is known as.
significance a. Law of equi-marginal utility.
c. It is same as pleasure b. Law of diminishing marginal utility
d. It depends upon consumer’s mental attitude c. Law of demand. d. Law of Diminishing returns.
18. Who has given scarcity definition of economics? 7. The basis for the law of demand is related to
a. Adam Smith b. Marshall c. Robbins d. a. Law of diminishing marginal utility
Robertson b. Law of supply c. Law of equi-marginal utility.
19. The process of reasoning from particular to general d. Gossen’s Law.
is 8. The concept of consumer’s surplus is associated with
a. Deductive method b. Inductive method a. Adam Smith b. Marshall c. Robbins d. Ricardo
c. Positive economics d. Normative
9. Given potential price is Rs.250 and the actual price is
economics
Rs.200. Find the consumer surplus.
20. Total revenue is equal to total output sold multiplied
a. 375 b. 175 c. 200 d. 50
by
10. Indifference curve approach is based on
a. Price b. Total cost c. Marginal revenue d.
a. Ordinal approach b. Cardinal approach
Marginal cost
c. Subjective approach d. Psychological approach
CHAPTER 2 Consumption Analysis
11. The concept of elasticity of demand was introduced
Multiple Choice Questions by
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a. Ferguson b. Keynes c. Adam Smith d. Marshall 1. The primary factors of production are:
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a. Increase in tax b. Higher subsidy
and Labour.
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c. Increase in interest rate d. decline in population
2. The man-made physical goods used to produce other
13. The movement on or along the given demand curve
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goods and services are referred to as.
is known as____
a. Land b. Labour
a. Extension and contraction of demand.
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c. Capital d. Organization.
b. shifts in the demand.
3. Formula for calculating AP is
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c. increase and decrease in demand. d. all the above
a. ΔTP/N b. ΔTP/ΔN
14. In case of relatively more elastic demand the shape
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c. TP/MP d. TP/N
of the curve is
4. Which factor is called the changing agent of the
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c. Returns to Scale d. Law of Variable Proportions 18. The relationship between the price of a commodity
10. An Iso-quant curve is also known as and the supply of commodity is
a. Inelastic Supply Curve b. Inelastic Demand Curve a. Negative b. Positive c. Zero d. Increase
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c. Equi-marginal Utility d. Equal Product Curve
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19. If average product is decreasing, then marginal
11. Mention the economies reaped from inside the firm product
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a. financial b. technical a. must be greater than average product
c. managerial d. all of the above b. must be less than average product
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12. Cobb-Douglas production function assumes c. must be increasing d. both a and c
a. Increasing returns to scale
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20. A production function measures the relation
b. Diminishing returns to scale
between
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c. Constant returns to scale d. All of the above
a. input prices and output prices
13. Name the returns to scale when the output increases
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b. input prices and the quantity of output
by more than 5%, for a 5% increase in the inputs,
c. the quantity of inputs and the quantity of output.
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a. TC/Q b. TVC/Q c. TFC/Q d. TAC/Q RS.___________.
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9. The cost incurred by producing one more unit of a. 100 b. 200 c. 300 d. 400
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output is______cost. CHAPTER 5 MARKET STRUCTURE AND
a. variable b. fixed c. marginal d. total PRICING
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10. The cost that varies with the level of output is Multiple Choice Questions
termed as _______ cost. 1. In which of the following is not a type of market
a. money b. variable cost c. total cost d. fixed cost
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11. Wage is an example for ________ cost of the a. Perfect competition b. Monopoly
production.
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c. Duopoly d. Oligopoly
a. fixed b. variable 2. Equilibrium condition of a firm is......
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12. The cost per unit of output is denoted by ____cost. c. MC < MR d. MR = Price
a. average b. marginal c. variable d. total
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9. In monopoly, MR curve lies below …………. 19. Which of the following involves maximum
a. TR b. MC c. AR d. AC exploitation of consumers?
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c. Monopolistic competition d. Oligopoly
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a. Luxury goods b. Producer goods
c. Differentiated goods d. Homogeneous goods 20. An example of selling cost is …
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11. Group equilibrium is analysed in ……. a. Raw material cost b. Transport cost
a. Monopolistic competition b. Monopoly c. Advertisement cost d. Purchasing cost
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c. Duopoly d. Pure competition CHAPTER 6
Distribution Analysis
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12. In monopolistic competition, the essential feature is
..… Multiple Choice Questions
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a. Same product b. selling cost 1. In Economics, distribution of income is among the
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c. Single seller d. Single buyer a. factors of production b. individual
c. firms d. traders
13. Monopolistic competition is a form of .…….
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a. Theory of product-pricing
c. Imperfect competition d. Monopoly
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b. Theory of factor-pricing
14. Price leadership is the attribute of …………
c. Theory of wages d. Theory of Interest
a. Perfect competition b. Monopoly
3. Rent is the reward for the use of
c. Oligopoly d. Monopolistic competition
a. capital b. labour c. land d. organization
15. Price discrimination will always lead to…………. 4. The concept of ‘Quasi-Rent’ is associated with
a. Increase in output b. Increase in profit a. Ricardo b. Keynes c. Walker d. Marshall
c. Different prices d. b and c 5. The Classical Theory of Rent was propounded by
16. The average revenue curve under monopolistic a. Ricardo b. Keynes c. Marshall d. Walker
competition will be…… 6. ‘Original and indestructible powers of the soil’ is the
a. Perfectly inelastic b. Perfectly elastic term used by
c. Relatively elastic d. Unitary elastic a. J.S.Mill b. Walker c. Clark d. Ricardo
17. Under perfect competition, the shape of demand 7. The reward for labour is
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11. Keynesian Theory of interest is popularly known as 1. The main gold mine region in Karnataka is ………..
a. Abstinence Theory b. Liquidity Preference Theory a. Kolar b. Ramgiri c. Anantpur d. Cochin
c. Loanable Funds Theory d. Agio Theory 2. Economic growth of a country is measured by
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12. According to the Loanable Funds Theory, supply of national income indicated by …..
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loanable funds is equal to a. GNP b. GDP c. NNP d. Per capita
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a. S + BC + DH + DI b. I + DS + DH + BM income
c. S + DS + BM + DI d. S + BM + DH + DS 3. Which one of the following is a developed nations ?
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13. The concept of meeting unexpected expenditure a. Mexico b. Ghana c. France d. Sri Lanka
according to Keynes is 4. The position of Indian Economy among the other
a. Transaction motive b. Precautionary motive
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c. Speculative motive d. Personal motive a. Fourth b. Seventh c. Fifth d. Tenth
5. Mixed economy means ……
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14. The distribution of income or wealth of a country
among the individuals are a. Private sectors and banks
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c. goods distribution d. services distribution c. Public sectors and banks d. Public sectors only
6. The weakness of Indian Economy is …….
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20. Loanable Funds Theory of Interest is called as 10. The number of deaths per thousand population is
c. Traditional Theory d. Neo-Classical Theory a. Crude Death Rate b. Crude Birth Rate
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11. The number of births per thousand population is 20. Thiruvalluvar economic ideas mainly dealt with
called as a. Wealth b. Poverty is the curse in the society
a. Crude death rate b. Mortality rate c. Agriculture d. All of them
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c. Morbidity rate d. Crude Birth Rate CHAPTER 8 Indian Economy Before and
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12. Density of population = After Independence
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a. Land area / Total Population b. Land area / Multiple Choice Questions
Employment 1. The arrival of Vasco da Gama in Calicut, India
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c. Total Population / Land area of the region a. 1498 b. 1948 c. 1689 d. 1849
d. Total Population / Employment 2. In 1614 Sir Thomas Roe was successful in getting
13. Who introduced the National Development Council
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in India? a. Akbar b. Shajakan c. Jahangir d. Noorjakhan
a. Ambedkar b. Jawaharlal
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3. The power for governance of India was transferred
Nehru from the East India Company (EIC) to the British
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14. Who among the following propagated Gandhian a. 1758 b. 1858 c. 1958 d. 1658
Ecomomic thinkings.
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10. How many commercial banks were nationalised in Multiple Choice Questions
1969 1. Which of the following is the way of Privatisation?
a. 10 b. 12 c. 14 d. 16
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a. Disinvestment b. Denationalization
11. The main objective of nationalisation of banks was
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c. Franchising d. All the above
a. Private social welfare b. Social welfare
2. Countries today are to be _____ for their growth.
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c. To earn d. Industries monopoly
a. Dependent b. Interdependent
12. The Planning Commission was setup in the year … c. Free trade d. Capitalist
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a. 1950 b. 1955 c. 1960 d. 1952
3. The Arguments against LPG is _________
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13. In the first five year plan, The top priority was a. Economic growth b. More investment
given to ……. Sector. c. Disparities among people and regions
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a. Service b. Industrial c. Agriculture d. Bank d. Modernization
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14. Tenth Five year plan period was……. 4. Expansion of FDI ____________
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10. The New Foreign Trade Policy was announced in a. 18% b. 24% c. 28% d. 32%
the year_____________ 20. The transfer of ownership from public sector to
a. 2000 b. 2002 c. 2010 d. 2015
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private sector is known as _____.
11. Financial Sector reforms mainly related to
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a. Globalization b. Liberalization
___________ c. Privatization d. Nationalization
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a. Insurance Sector b. Banking Sector CHAPTER 10
c. Both a and b d. Transport Sector Rural Economy
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12. The Goods and Services Tax Act came in to effect Choose the Best Answer
on __
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1. Which is considered as the basic unit for rural areas?
a. 1st July 2017 b. 1st July 2016 a. Panchayat b. Village c. Town d. Municipality
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c. 1st January 2017 d. 1st January 2016
2. Which feature is identified with rural areas?
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13. The new economic policy is concerned with the a. Low population density b. High population density
following
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8. Identify the agriculture related problem of rural 17. Identify the year of launch of MUDRA Bank?
economy. a. 1995 b. 2000 c. 2010 d. 2015
a. Poor communication b. Small size of landholding
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18. Identify the year in which National Rural Health
c. Rural poverty d. Poor banking network
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Mission was launched.
9. The recommended nutritional intake per person in a. 2000 b. 2005 c. 2010 d. 2015
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rural areas. 19. Identify the advantages of rural roads.
a. 2100 calories b. 2100 calories a. Rural marketing b. Rural employment
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c. 2300 calories d. 2400 calories c. Rural development d. All the above
10. Indicate the cause for rural poverty.
a. Lack of non-farm employment b. High vi 20. “ An Indian farmer is born in debt, lives in debt,
dies in debt and bequeaths debt”-who said this?
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employment a. Adam Smith b. Gandhi
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c. Low inflation rate d. High investment. c. Amartya Sen d. Sir Malcolm Darling
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10. Indicate the cause for rural poverty. CHAPTER 11 Tamil Nadu Economy
a. Lack of non-farm employment Multiple Choice Questions
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c. Low inflation rate d. High investment. a) Kerala b) Punjab c) Gujarat d) all the above
11. What is the other name for concealed 2. In sex ratio, Tamil Nadu ranks
unemployment?
a) first b) second c) third d) fourth
a. Open b. Disguised c. Seasonal d. Rural
3. Tamil Nadu is rich in
12. How do you term the employment occurring only
a) Forest resource b) human resource
on a particular season?
c) mineral resource d) all the above
a. Open b. Disguised c. Seasonal d. Rural
4. The main source of irrigation in Tamil Nadu is
13. Identify an example for rural industries?
a) river b) tank c) well d) canals
a. Sugar factory b. Mat making industry
5. Knitted garment production is concentrated in
c. Cement industry d. Paper industry
a) Coimbatore b) Tiruppur c) Erode d) Karur
14. How much share of rural families in India is in
6. Which of the following is wrongly matched?
debt?
a) Gateway of Tamil Nadu – Thoothukudi
a. Half b. One fourth c. Two third d. Three fourth
b) Home textile city - Erode
15. Identify the cause for rural indebtedness in India.
c) Steel city - Salem d) Pump city – Coimbatore
a. Poverty b. High population
7. Which of the following cities does not have
c. High productivity d. Full employment
international airport?
16. In which year, Regional Rural Banks came into
a) Madurai b) Tiruchirappalli
existence?
c) Paramakudi d) Coimbatore
a. 1965 b. 1970 c. 1975 d. 1980
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c) plantation crops d) cardamom
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9. Largest area of land is used in the cultivation of
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a) Paddy b) sugarcane c) Groundnut d) Coconut ----- All the best..
10. In literacy rate, TN ranks
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a) second b) fourth c) sixth d) eighth
a) Nagapattinam b) Nilgiris
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c) Tiruchirappalli d) Thanjavur
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