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 Indian Economy Questions

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Q:

Irfaan loves black coffee. A roadside stall selling a cup of black coffee at Rs. 120, offered 25% discount to Irfaan. If Irfaan was willing to pay even Rs. 200 for this cup of black coffee, Irfaan's consumer surplus is

A) 90 B) 80
C) 30 D) 110
 
Answer & Explanation Answer: D) 110

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Q:

Which of the following is the correct description of the term sex-ratio as used in the context of the census of population?

A) Number of males per 1000 females. B) Number of females per 1000 males.
C) Number of females per 100 males. D) Number of females in a sample of 1000 persons.
 
Answer & Explanation Answer: B) Number of females per 1000 males.

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Q:

In April 2017, the announcement was made to change the Base year for GDP Calculation. The new Base year will be ______.

 

A) 2011-12   B) 2015-16
C) 2017-18 D) 2016-17
 
Answer & Explanation Answer: C) 2017-18

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Q:

Which of the following best defines disposable income?

A) Income received by householdsless personal taxes. B) The before-tax income received by households.
C) All income earned by resource suppliers for their current contributions to production. D) The market value of the annual output net of consumption of fixed capital.
 
Answer & Explanation Answer: A) Income received by householdsless personal taxes.

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Q:

If hiring an extra worker increases a brick making unit's output from 2000 to 2250 units per day, but the factory has to reduce the price of its brick from Rs 15 to Rs 14 per brick to sell the additional output, the marginal revenue product of the last worker is

A) Rs 1500 B) Rs 250
C) Rs 3000 D) Rs 100
 
Answer & Explanation Answer: A) Rs 1500

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Q:

In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?

A) Food processing B) Petro-chemical
C) Chemicals other than fertilizers D) Telecommunications
 
Answer & Explanation Answer: D) Telecommunications

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Q:

Which of the following increases labor productivity?

A) an increase in the aggregate hours of work B) decreases in the availability of computers and factory buildings
C) inventories of new machinery, equipment, or software D) a decline in the health of the population
 
Answer & Explanation Answer: C) inventories of new machinery, equipment, or software

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Q:

What is the full form of GST?

A) Good and Services Tax B) Goods Sales Tax
C) Grand Sales Tax D) General Sales Tax
 
Answer & Explanation Answer: A) Good and Services Tax

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