McqMate
| 1. |
Micro economics theory deals with |
| A. | Economic behavior of individual economic decision making units |
| B. | Economy as a whole |
| C. | Trade relations |
| D. | Economic growth of the society |
| Answer» A. Economic behavior of individual economic decision making units | |
| 2. |
Which of the following is a central problem of every economy |
| A. | Abundance of resources |
| B. | Scarcity of economic resources |
| C. | Poverty |
| D. | Moral and ethical values |
| Answer» B. Scarcity of economic resources | |
| 3. |
Equilibrium relates to which of these |
| A. | Market condition which oscillate |
| B. | Market state of falling price |
| C. | Market condition of rising price |
| D. | Market conditions which once achieved tends to persist |
| Answer» D. Market conditions which once achieved tends to persist | |
| 4. |
General equilibrium analysis refers to |
| A. | Behaviour of individual economic decision making units and individual markets in isolation |
| B. | Behaviour of all the individual decision making units and market viewed in totality |
| C. | Both ; |
| D. | none |
| Answer» B. Behaviour of all the individual decision making units and market viewed in totality | |
| 5. |
Normative economic theory deals with |
| A. | What is or how the economic problem facing the society are solved |
| B. | How the problem should be solved |
| C. | What to Produce |
| D. | How to produce |
| Answer» B. How the problem should be solved | |
| 6. |
In a mixed economy which sector(s) is/ are found |
| A. | Private Only |
| B. | Public sector only |
| C. | None |
| D. | Both a and b |
| Answer» D. Both a and b | |
| 7. |
In economic theory the term “means” refers to |
| A. | Resources |
| B. | Arithmetic mean |
| C. | A characteristic |
| D. | None |
| Answer» A. Resources | |
| 8. |
Market equilibrium of a commodity is determined by |
| A. | Balancing of demand and supply position |
| B. | Aggregate demand |
| C. | Aggregate supply |
| D. | Government intervention |
| Answer» A. Balancing of demand and supply position | |
| 9. |
Cetris Paribus means |
| A. | Holding demand constant |
| B. | Holding supply constant |
| C. | Price being constant |
| D. | Other things being constant |
| Answer» D. Other things being constant | |
| 10. |
Economic resources are |
| A. | Unlimited |
| B. | Limited in supply and use |
| C. | Limited in supply but have alternative uses |
| D. | Unproductive |
| Answer» C. Limited in supply but have alternative uses | |
| 11. |
Which of the following is/ are not an economic resource |
| A. | Land |
| B. | Capital |
| C. | Labour |
| D. | Air |
| Answer» D. Air | |
| 12. |
Which of the following is/ are an economic resource |
| A. | Land |
| B. | Capital |
| C. | Labour |
| D. | All the three |
| Answer» D. All the three | |
| 13. |
Which of the following is/ are a non-economic resource |
| A. | Air |
| B. | Water |
| C. | Sunlight |
| D. | All the three |
| Answer» D. All the three | |
| 14. |
Which of these resources would be called as land in economics |
| A. | Coal mines of Bihar |
| B. | Water resources of Uttaranchal |
| C. | Mineral deposits of Jharkhand |
| D. | All the three |
| Answer» D. All the three | |
| 15. |
Which of these is not land in economics |
| A. | Tehri Dam |
| B. | Forest reserves of Assam |
| C. | Fish reserves in the Bay of Bengal |
| D. | Herbal plant of Uttaranchal |
| Answer» A. Tehri Dam | |
| 16. |
Which of these would be classified as capital in economics |
| A. | Bhankra Dam |
| B. | Indira canal |
| C. | Golden triangle |
| D. | All the three |
| Answer» D. All the three | |
| 17. |
Capital in economics means |
| A. | Factor of production |
| B. | Fund brought in by the entrepreneur |
| C. | Investment in shares, bank deposits |
| D. | All the above |
| Answer» A. Factor of production | |
| 18. |
Scarcity of resources leads to |
| A. | Unsatisfaction of human wants |
| B. | Evaluation of alternative uses of scarce resources |
| C. | Both |
| D. | None |
| Answer» C. Both | |
| 19. |
Who defined economics as “ Science which deals with wealth” |
| A. | J. (B) Say |
| B. | (A) (C) pigou |
| C. | Alfred Marshall |
| D. | Robbins |
| Answer» A. J. (B) Say | |
| 20. |
Economics cannot be considered a perfect science because |
| A. | Human behaviour is unpredictable |
| B. | It is difficult to make correct prediction of economic variables |
| C. | Economist do not have common opinion about a particular economic event |
| D. | All the three |
| Answer» D. All the three | |
| 21. |
In economic goods includes material things which………. |
| A. | Can be transferred |
| B. | Can be exchanged for one another |
| C. | Both |
| D. | None |
| Answer» C. Both | |
| 22. |
In economic wealth is the stock of all those material and immaterial objects which……... |
| A. | Are transferable |
| B. | Have utility |
| C. | Are scarce |
| D. | All the three |
| Answer» D. All the three | |
| 23. |
In addition to three Central problem of economy, the additional problem(s) raised by the Modern economists is / are |
| A. | Are the resources fully utilized or not |
| B. | How efficient is the production and distribution system |
| C. | Whether the capacity to produce or grow is increasing or is static |
| D. | All the three |
| Answer» D. All the three | |
| 24. |
The basic assumption of an economic analysis is/ are |
| A. | Cetris paribus |
| B. | Rational behavior |
| C. | Both |
| D. | None |
| Answer» C. Both | |
| 25. |
The terms Micro economic and Macro economics were coined by |
| A. | Professor A Samulson |
| B. | Giffen |
| C. | Prof. Ragner Frisch |
| D. | Eagle |
| Answer» C. Prof. Ragner Frisch | |
| 26. |
----------is known as father of economics |
| A. | Adam Smith |
| B. | Professor A Samulson |
| C. | Alfred Marshall |
| D. | J R Hicks |
| Answer» A. Adam Smith | |
| 27. |
Which of these are outside the domain of macro economics |
| A. | Consumer behavior |
| B. | National income |
| C. | Economic growth |
| D. | Balance of payment and trade |
| Answer» A. Consumer behavior | |
| 28. |
Scarcity of resources means |
| A. | Limited resources |
| B. | Non – esxistence of resources |
| C. | Both |
| D. | None |
| Answer» A. Limited resources | |
| 29. |
Human wants are |
| A. | Unsatisfiable |
| B. | Unlimited |
| C. | Undefined |
| D. | Limited |
| Answer» B. Unlimited | |
| 30. |
Economics cannot be given the status of science because |
| A. | Of non-uniformity of opinion and approach of economist |
| B. | Economic behaviour of human being is unpredictable |
| C. | Measuring rod of money is unstable |
| D. | All the three |
| Answer» D. All the three | |
| 31. |
Which of the following is not a central problem of a society |
| A. | What to produce |
| B. | How to produce |
| C. | For whom to produce |
| D. | Where to produce |
| Answer» D. Where to produce | |
| 32. |
The paradox of Diamond is more costly than water is explained by |
| A. | Marginal utility concept |
| B. | Scarcity |
| C. | Relative cost of production |
| D. | All the three |
| Answer» B. Scarcity | |
| 33. |
Which of these is an economic activity |
| A. | A father teaching his son at home instead of sending to any coaching centre |
| B. | A hair dresser doing hair cut designing on payment |
| C. | A housewife mending her family cloths on her own |
| D. | A singer giving a show on his son’s wedding anniversary |
| Answer» B. A hair dresser doing hair cut designing on payment | |
| 34. |
The term “ Micro” is derived from the …….word which means…….. |
| A. | Latin, small |
| B. | Greek, small |
| C. | English, tiny |
| D. | Roman, small |
| Answer» B. Greek, small | |
| 35. |
Which of the following issue relates to micro-economics |
| A. | Impact of crude price hike on inflation |
| B. | Impact of change in bank rate on bank saving and investment |
| C. | Impact of Information technology on economic growth |
| D. | Impact of shortage of wheat production on wheat prices |
| Answer» D. Impact of shortage of wheat production on wheat prices | |
| 36. |
Economics modes are |
| A. | Based on some realistic assumptions |
| B. | Based on hypothetical assumptions |
| C. | Scientifically tested |
| D. | Based on necessity |
| Answer» A. Based on some realistic assumptions | |
| 37. |
The famous book “An enquiry into the nature and causes of wealth of Nation” was written by – |
| A. | Adam Smith |
| B. | Samulson |
| C. | Robertson |
| D. | JB Say |
| Answer» A. Adam Smith | |
| 38. |
The famous book “An enquiry into the nature and causes of wealth of Nation” was published in- |
| A. | 1776 |
| B. | 1750 |
| C. | 1850 |
| D. | 1886 |
| Answer» A. 1776 | |
| 39. |
The law of indifference is/are also know by- |
| A. | Law of substitution |
| B. | law of equimarginal utility |
| C. | Law of diminishing marginal utility |
| D. | All the three |
| Answer» D. All the three | |
| 40. |
Which of the following is not a central problem of a society |
| A. | What to produce |
| B. | How to produce |
| C. | For whom to produce |
| D. | What to eat |
| Answer» D. What to eat | |
| 41. |
The central problem of how to produce is resolved by |
| A. | Demand and supply of factor inputs |
| B. | Demand and supply of goods |
| C. | Relative prices and availability of factors of production |
| D. | Government intervention |
| Answer» C. Relative prices and availability of factors of production | |
| 42. |
In free economy the decision about investment, saving and consumption are decided by |
| A. | Price mechanism |
| B. | Central bank |
| C. | Planning Commission |
| D. | Finance budget |
| Answer» A. Price mechanism | |
| 43. |
Which of these statement is true about production possibility curve (PPC/PPF) |
| A. | It shows various combinations of two goods which yield same level of satisfaction |
| B. | It shows various combination of two goods which an economy can produce with a given amount of resources |
| C. | It shows various combination of two goods which an economy can produce with a given budget |
| D. | It shows various combination of two goods which an economy can produce with a given time |
| Answer» B. It shows various combination of two goods which an economy can produce with a given amount of resources | |
| 44. |
If production possibility frontier is linear it implies |
| A. | Constant opportunity cost |
| B. | Economy is stagnant |
| C. | Underemployment of factor of production |
| D. | With the increase in production, opportunity cost also increases |
| Answer» A. Constant opportunity cost | |
| 45. |
The opportunity cost of consumption is |
| A. | Lack of capital formation for future |
| B. | Greater investment |
| C. | Full employment |
| D. | Deflation |
| Answer» A. Lack of capital formation for future | |
| 46. |
The opportunity cost of capital investment is |
| A. | Sacrifice of current consumption |
| B. | More consumption on luxury items |
| C. | Lower capital growth in future |
| D. | Wastage of Resources |
| Answer» A. Sacrifice of current consumption | |
| 47. |
Any point beyond PPF is |
| A. | Attainable |
| B. | Unattainable |
| C. | Attainable with increase in production facilities |
| D. | None |
| Answer» C. Attainable with increase in production facilities | |
| 48. |
If an economy is working at a point left to PPF curve it shows that……… |
| A. | The economy is working at less than the full employment level |
| B. | The economy is at full employment level |
| C. | The economy is country is faced with excess production |
| D. | There is glut of imports |
| Answer» A. The economy is working at less than the full employment level | |
| 49. |
Curvature of PPF is due to……… |
| A. | Increase in opportunity cost |
| B. | Decrease in opportunity cost |
| C. | Fall in demand |
| D. | Fall in supply |
| Answer» A. Increase in opportunity cost | |
| 50. |
PPF is negative sloped due to |
| A. | Scarcity of production resources |
| B. | Unlimited wants |
| C. | Improvement in technology |
| D. | Increasing opportunity cost |
| Answer» A. Scarcity of production resources | |
| 51. |
Economic efficiency means |
| A. | Production of goods of mass consumption at lower cost |
| B. | Production of goods and services for those who have purchasing power |
| C. | Getting greatest satisfaction from available resources |
| D. | Full employment of working force |
| Answer» C. Getting greatest satisfaction from available resources | |
| 52. |
Opportunity cost of increasing production of Gun to 3 units in combination D is –tons of bread |
| A. | 200 |
| B. | 100 |
| C. | 300 |
| D. | 400 |
| Answer» D. 400 | |
| 53. |
Opportunity cost of increasing production of Gun to 4 units in combination E is –tons of bread |
| A. | 200 |
| B. | 500 |
| C. | 300 |
| D. | 400 |
| Answer» B. 500 | |
| 54. |
Opportunity cost of increasing production of Gun to 5 units in combination F is –tons of bread |
| A. | 200 |
| B. | 100 |
| C. | 600 |
| D. | 500 |
| Answer» C. 600 | |
| 55. |
In question No. 53 if the economy produces only 3 guns and 900 tons of wheat instead of 1100 tons of wheat what does it indicates |
| A. | Under employment of resources |
| B. | Production in efficiency |
| C. | Sub-optimal production |
| D. | All the three |
| Answer» D. All the three | |
| 56. |
If a firm is operating at any point inside the PPF, the firm is |
| A. | Efficient firm |
| B. | Inefficient firm |
| C. | Poised for abnormal growth |
| D. | None |
| Answer» B. Inefficient firm | |
| 57. |
Any point beyond PPF curve can be attained by |
| A. | Increasing supply of factor inputs |
| B. | Technological innovation |
| C. | Both |
| D. | None |
| Answer» C. Both | |
| 58. |
Economic growth is best depicted by |
| A. | Outward shift in PPF |
| B. | Upward movement in PPF |
| C. | Inward movement in PPF |
| D. | Downward movement in PPF |
| Answer» A. Outward shift in PPF | |
| 59. |
Production possibility curves shows maximum combinations of -----products |
| A. | 1 |
| B. | 2 |
| C. | 3 |
| D. | 4 |
| Answer» B. 2 | |
| 60. |
The relationship between aggregate consumption expenditure and aggregate income of household sector is known as ………………………. function. |
| A. | Consumption |
| B. | Saving |
| C. | Expenditure |
| D. | Income |
| Answer» A. Consumption | |
| 61. |
GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. |
| A. | Direct taxes |
| B. | Indirect taxes |
| C. | Income tax |
| D. | Tax on rents |
| Answer» B. Indirect taxes | |
| 62. |
Macroeconomics is the study of |
| A. | Inflation |
| B. | Unemployment |
| C. | Growth |
| D. | All of (a), (b) and (c) above. |
| Answer» D. All of (a), (b) and (c) above. | |
| 63. |
In a closed economy savings are equal to ……………….. at the equilibrium level of income. |
| A. | Investments |
| B. | Wages |
| C. | Income-Investments |
| D. | Wages – Consumption |
| Answer» A. Investments | |
| 64. |
Which of the following methods is/are used for measuring national income? |
| A. | Output method |
| B. | Expenditure method |
| C. | Income method |
| D. | All of (a), (b) and (c) above. |
| Answer» D. All of (a), (b) and (c) above. | |
| 65. |
Net factor income from abroad is equal to |
| A. | NNP at market price – NDP at market price |
| B. | NDP at market prices – Indirect taxes + Subsidies |
| C. | NDP at factor cost + Depreciation |
| D. | NNP at market prices + Depreciation |
| Answer» A. NNP at market price – NDP at market price | |
| 66. |
Personal disposable income is equal to …………………….. |
| A. | Wages and salaries + Dividends paid at home – Personal income tax |
| B. | Wages and salaries + Dividends paid at home + Factor income received from abroad – Personal income tax |
| C. | Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax. |
| D. | Wages and salaries + Dividends paid at home + Factor income received from abroad - Transfers from government – Personal income tax. |
| Answer» C. Wages and salaries + Dividends paid at home + Factor income received from abroad + Transfers from government – Personal income tax. | |
| 67. |
Personal income equals personal disposable income (Yd) plus |
| A. | Personal savings |
| B. | Transfers from government |
| C. | Personal income taxes |
| D. | Dividend payments |
| Answer» C. Personal income taxes | |
| 68. |
GDP at market prices is the sum of Consumption, Investment, Government Spending and Net Exports. „Net‟ exports is |
| A. | Gross exports minus depreciation |
| B. | Exports minus imports |
| C. | Gross exports earnings minus capital inflow |
| D. | Export minus imports of merchandize |
| Answer» B. Exports minus imports | |
| 69. |
Macroeconomics is concerned with |
| A. | The level of output of goods and services |
| B. | The general level of prices |
| C. | The growth of real output |
| D. | All of the above |
| Answer» D. All of the above | |
| 70. |
Personal income includes all of the following except |
| A. | Transfer payments |
| B. | Undistributed corporate profits |
| C. | Personal income taxes |
| D. | Dividend payments |
| Answer» B. Undistributed corporate profits | |
| 71. |
Nominal GDP is |
| A. | The total value of goods and services net of exports |
| B. | The total value of goods and services produced during periods of low unemployment |
| C. | The total value of goods and services measured at current prices |
| D. | The total value of goods and services produced at full employment. |
| Answer» C. The total value of goods and services measured at current prices | |
| 72. |
GDP at factor cost exceeds GDP at market price |
| A. | When the factor income from abroad is negative |
| B. | When depreciation on fixed capital exceeds income in investment |
| C. | When direct tax exceeds indirect tax |
| D. | When subsidies exceeds indirect taxes. |
| Answer» D. When subsidies exceeds indirect taxes. | |
| 73. |
The difference between Gross National Product (GNP) and Gross Domestic Product GDP) is |
| A. | Excess of subsidies over indirect taxes |
| B. | Depreciation |
| C. | Net foreign income from abroad |
| D. | Excess of indirect taxes over subsidies |
| Answer» C. Net foreign income from abroad | |
| 74. |
NDP does not include |
| A. | Payments made for income taxes |
| B. | Depreciation allowances |
| C. | Undistributed profits |
| D. | The value added from intermediate goods. |
| Answer» B. Depreciation allowances | |
| 75. |
National income is |
| A. | NDP at market prices |
| B. | NDP at factor cost |
| C. | NNP at factor cost |
| D. | GNP at market prices. |
| Answer» C. NNP at factor cost | |
| 76. |
The difference between personal disposable income and personal income is |
| A. | Indirect taxes |
| B. | Subsidies |
| C. | Transfer payments |
| D. | Personal taxes. |
| Answer» D. Personal taxes. | |
| 77. |
Which of the following is an example of a government transfer payment? |
| A. | Purchase of a new car for the Ministry of Finance |
| B. | Funding of a clinic to provide free vaccinations. |
| C. | Free food coupons issued to persons in an anti-poverty program. |
| D. | Funding of a new bridge in an urban area |
| Answer» C. Free food coupons issued to persons in an anti-poverty program. | |
| 78. |
The net factor income earned within the domestic territory of a country must be equal to |
| A. | Net Domestic Product at factor cost |
| B. | Net Domestic Product at market price |
| C. | Net National Product at market price |
| D. | Personal income. |
| Answer» A. Net Domestic Product at factor cost | |
| 79. |
By definition, the marginal propensity to consume |
| A. | Equals ΔC/ΔYd |
| B. | Is the behavioral coefficient c in the equation C = a + cYd |
| C. | Is the slope of the consumption function |
| D. | All the above |
| Answer» D. All the above | |
| 80. |
Ceteris paribus, an income tax |
| A. | Increases the value of the expenditure multiplier and decreases the value of the net tax revenue multiplier |
| B. | Decreases the value of the expenditure and net tax revenue multiplier |
| C. | Decreases the value of the expenditure multiplier and increases the value of the net tax revenue multiplier |
| D. | None of the above. |
| Answer» B. Decreases the value of the expenditure and net tax revenue multiplier | |
| 81. |
On the basis of the Keynesian model of output determination, a multiplier of 3 implies that |
| A. | An increase in consumption by `3 will result in an increase in investment by Re. 1 |
| B. | An increase in investment by Re. 1 will result in an increase in consumption by `3 |
| C. | An increase in investment by Re. 1 will result in an increase in consumption by `2 |
| D. | An increase in investment by Re. 1 will result in an increase in consumption by Re. 1 |
| Answer» C. An increase in investment by Re. 1 will result in an increase in consumption by `2 | |
| 82. |
Consumption demand does not depend upon the level of |
| A. | Income |
| B. | Propensity to consume |
| C. | Consumer spending |
| D. | Marginal efficiency of investment. |
| Answer» D. Marginal efficiency of investment. | |
| 83. |
The slope of the consumption curve connotes |
| A. | Average propensity to save |
| B. | Marginal Propensity to consume |
| C. | Marginal propensity to save |
| D. | Level of consumption in the economy. |
| Answer» B. Marginal Propensity to consume | |
| 84. |
Financial interrelation ratio is equal to |
| A. | Total issues / National income |
| B. | Primary issues / Net capital formation |
| C. | Total issues / Net capital formation |
| D. | Total stock of financial assets/Stock of fiscal assets |
| Answer» C. Total issues / Net capital formation | |
| 85. |
If the available workers are unaware of the jobs being offered and the employers are not aware of the available workers, such type on unemployment is called |
| A. | Frictional unemployment |
| B. | Structural unemployment |
| C. | Disguised unemployment |
| D. | Demand pull unemployment. |
| Answer» A. Frictional unemployment | |
| 86. |
Unemployment that arises when there is a general downturn in business activity is known as |
| A. | Frictional unemployment |
| B. | Structural unemployment |
| C. | Cyclical unemployment |
| D. | Disguised unemployment |
| Answer» C. Cyclical unemployment | |
| 87. |
Full employment is the level at which there is |
| A. | Zero unemployment |
| B. | Normal rate of unemployment |
| C. | Lease supply of labor |
| D. | Demand for goods is less than supply. |
| Answer» C. Lease supply of labor | |
| 88. |
Natural rate of unemployment increases due to |
| A. | General downturn in business activity |
| B. | Changes in labor market |
| C. | Structural changes in economy |
| D. | Frequent changes of jobs by labor |
| Answer» D. Frequent changes of jobs by labor | |
| 89. |
If the actual rate of unemployment exceeds to natural rate of unemployment then |
| A. | Actual output of the economy will fall below its potential |
| B. | Production will increase more than potential |
| C. | Consumption of goods decreases |
| D. | Both (a) and (c) above. |
| Answer» D. Both (a) and (c) above. | |
| 90. |
Unemployment that arises due to regional occupational pattern of job vacancies, which does not match the pattern of workers availability and suitability, is known as |
| A. | Frictional unemployment |
| B. | Structural unemployment |
| C. | Cyclical unemployment |
| D. | Demand pull unemployment. |
| Answer» B. Structural unemployment | |
| 91. |
Disguised unemployment means |
| A. | Unemployment in agriculture |
| B. | Unemployment due to recession |
| C. | Unemployment due to downturn in business activity |
| D. | Marginal Productivity of Labor (MPL) is zero. |
| Answer» C. Unemployment due to downturn in business activity | |
| 92. |
In which sector of Indian economy will we find a high rate of disguised unemployment? |
| A. | Service sector. |
| B. | Agriculture sector. |
| C. | Manufacture sector. |
| D. | Mining sector. |
| Answer» B. Agriculture sector. | |
| 93. |
Unemployment that is caused by a mismatch between the composition of the labor force (in terms of skills, occupation, industries, or geographic location) and the make-up of the demand for labor is called |
| A. | Real wage unemployment |
| B. | Deficient-demand unemployment |
| C. | Frictional unemployment |
| D. | Structural Unemployment |
| Answer» D. Structural Unemployment | |
| 94. |
During the recessionary phase of a business cycle |
| A. | The natural rate of unemployment will increase dramatically |
| B. | Potential national income will exceed actual national income |
| C. | Actual national income will exceed potential national income |
| D. | The real rate of interest will exceed the nominal rate of interest. |
| Answer» A. The natural rate of unemployment will increase dramatically | |
| 95. |
The Philips curve shows that |
| A. | High unemployment rates are associated with low increases in money wage rates |
| B. | Low unemployment rates are associated with low rates of inflation |
| C. | High unemployment rates are associated with low rates of inflation |
| D. | High inflation rates are associated with small increases in money wage rates. |
| Answer» C. High unemployment rates are associated with low rates of inflation | |
| 96. |
Full employment exists when there is |
| A. | Zero unemployment |
| B. | Natural rate of unemployment |
| C. | Least demand for labor |
| D. | Least supply of labor |
| Answer» B. Natural rate of unemployment | |
| 97. |
Balance of trade is |
| A. | The difference between balance on current account and capital account |
| B. | Same as the balance of merchandize trade |
| C. | Same as the balance of current account |
| D. | Overall BoP balance. |
| Answer» B. Same as the balance of merchandize trade | |
| 98. |
All entries in the balance of payments should collectively sum to |
| A. | GDP of that country |
| B. | GNP of that country |
| C. | Zero |
| D. | Exports of that country. |
| Answer» C. Zero | |
| 99. |
In the BoP statement, current account includes
|
| A. | (i) only |
| B. | Both (i) and (ii) above |
| C. | Both (i) and (iii) above |
| D. | Both (ii) and (iii) above |
| Answer» A. (i) only | |
| 100. |
If the balance on current and capital accounts of Balance of Payments (BoP) taken together is negative, then |
| A. | It is a case of BoP surplus |
| B. | It is a case of BoP surplus where the official reserve account is in surplus |
| C. | It is a case of BoP deficit |
| D. | It is case of BoP disequilibrium |
| Answer» C. It is a case of BoP deficit | |
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