Demand for a commodity refers to:
|A.||Need for the commodity|
|B.||Desire for the commodity|
|C.||Amount of the commodity demanded at a particular price and at a particular time|
|D.||Quantity demanded of that commodity|
|Answer» C. Amount of the commodity demanded at a particular price and at a particular time|
If the demand for a good is inelastic, an increase in its price will cause the total expenditure of the consumers of the good to:
|C.||Remain the same|
|Answer» A. Increase|
Income elasticity of demand is defined as the responsiveness of:
|A.||Quantity demanded to a change in income|
|B.||Quantity demanded to a change in price|
|C.||Price to a change in income|
|D.||Income to a change in quantity demanded|
|Answer» A. Quantity demanded to a change in income|
The supply of a good refers to:
|A.||Stock available for sale|
|B.||Total stock in the warehouse|
|C.||Actual Production of the goo|
|D.||D. Quantity of the good offered for sale at a particular price per unit of time|
|Answer» D. D. Quantity of the good offered for sale at a particular price per unit of time|
In the short run, when the output of a firm increases, its average fixed cost:
|D.||First decreases and then rises|
|Answer» B. Decreases|
The cost of one thing in terms of the alternative given up is called:
|Answer» D. Opportunity cost|
In which of the following market structure is the degree of control over the price of its product by a firm very large?
|D.||In A and B both|
|Answer» C. Monopoly|
Demand for factors of production is:
|D.||D None of the above|
|Answer» A. Derived demand|
The producer’s demand for a factor of production is governed by the ___ of that factor.
|Answer» B. Marginal productivity|
Who is the ‘lender of the last resort’ in the banking structure of India?
|A.||State Bank of India|
|B.||Reserve Bank of India|
|C.||EXIM Bank of India|
|D.||Union Bank of India|
|Answer» B. Reserve Bank of India|
____ is the official minimum rate at which the Central Bank of a country is prepared to rediscount approved bills held by the commercial banks.
|C.||Prime lending rate|
|D.||Reverse repo rate|
|Answer» B. Bank rate|
Which among the following is a function of the Reserve Bank of India?
|A.||Bank issues the letters of credit to their customers certifying their creditability|
|B.||Collecting and compilation of statistical information relating to banking & other financial sectors|
|C.||Banks under write the securities issued by public or private organizations|
|D.||Accepting deposits from the public|
|Answer» B. Collecting and compilation of statistical information relating to banking & other financial sectors|
The following is the direct tax among:
|D.||Value added tax|
|Answer» A. House tax|
Which among the following is a cause of inflation?
|B.||Rise in external loans|
|C.||Unfavorable balance of payment|
|D.||A hike in the CRR by the central bank of the country|
|Answer» A. Deficit financing|
The capital that is consumed by an economy or a firm in the production process is known as:
|Answer» D. Depreciation|
Which of the following is also known as International Bank for Reconstruction and Development?
|A.||Asian Development Bank|
|C.||Reserve Bank of India|
|D.||International Monetary Fund|
|Answer» B. World Bank|
A change in fiscal policy affects the balance of payments through:
|A.||The current account only|
|B.||The capital account only|
|C.||Both, the current account and capital account|
|D.||Neither current account nor capital account|
|Answer» C. Both, the current account and capital account|
Fiscal Policy means:
|A.||Policy relating to money and banking in a country|
|B.||Policy relating to non-banking financial institutions|
|C.||Policy relating to government spending’ taxation and borrowing|
|D.||Policy relating to financial matters of international trade|
|Answer» C. Policy relating to government spending’ taxation and borrowing|
Which one of the following is NOT the objective of fiscal policy of government of India?
|C.||Regulation of inter-state trade|
|Answer» C. Regulation of inter-state trade|
Monetary policy is implemented by in India.
|A.||The Ministry of Finance|
|D.||Reserve Bank of India|
|Answer» D. Reserve Bank of India|
The most simple and popular method of measuring economic development is to calculate the trend of gross national product (GNP) at __________
|C.||Both of the above|
|D.||None of the above|
|Answer» B. Constant prices|
By __ growth rate of an economy can be speeded up.
|A.||Investment in share market|
|C.||Investment in human capital formation|
|D.||Investment in primary sector|
|Answer» C. Investment in human capital formation|
When national income is calculated with reference to a base year, it is called:
|A.||Nominal national income|
|B.||Net national income|
|C.||Real national income|
|D.||Gross national income|
|Answer» C. Real national income|
Which market structure symbolizes the existence of ‘few sellers’?
|Answer» A. Oligopoly|
Which among the following are the factors that determine the national income of a country?
|A.||Quantity and Quality of factors of production|
|B.||The state of technical knowledge|
|C.||Economic and political stability|
|D.||All of the above|
|Answer» D. All of the above|
We're developing a website for study materials for students.
We would love to hear your answers to some of the questions.