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 Indian Economy Questions

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Q:

Income taxes are allocated to

A) discontinued operations B) prior period adjustments
C) extraordinary items D) All the above
 
Answer & Explanation Answer: D) All the above

Explanation:

Income taxes are allocated to extraordinary items, discontinued operations and prior period adjustments.

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Filed Under: Indian Economy
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2 1762
Q:

Which property would be classified as expendable?

A) Food given to Army B) Cement
C) Paint D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

Expendable properties are those properties that are consume in use or that lose their identity in use. It also include those properties that become an integral part of other property when put to use and those properties which have an expected service life of less than one year.

 

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1 1741
Q:

A master plan is devised for

A) Long-range goals B) Emergencies
C) Short-term goals D) Investments
 
Answer & Explanation Answer: A) Long-range goals

Explanation:

A master plan is devised for long-range goals.

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3 1723
Q:

The greater is the marginal propensity to consume, the

A) lower is the price level B) smaller is the marginal propensity to save
C) lower is the average propensity to consume D) higher is the interest rate
 
Answer & Explanation Answer: B) smaller is the marginal propensity to save

Explanation:
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1 1697
Q:

Which amongst the following is not a component of monetary policy in India?

A) Repo rate B) Moral suasion
C) Credit Rationing D) Public Debt
 
Answer & Explanation Answer: D) Public Debt

Explanation:
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Exam Prep: Bank Exams

1 1683
Q:

Which of the following represents a positive economic statement?

A) The government should extend unemployment benefits. B) The unemployment rate is too high.
C) Taxes should not be increased since that will lower spending. D) The unemployment rate is 4.8 percent.
 
Answer & Explanation Answer: D) The unemployment rate is 4.8 percent.

Explanation:
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2 1681
Q:

The production possibilities curve illustrates the basic principle that

A) if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced. B) the production of more of any one good will in time require smaller and smaller sacrifices of other goods.
C) an economy will automatically obtain full employment of its resources. D) an economy's capacity to produce increases in proportion to its population size.
 
Answer & Explanation Answer: A) if all the resources of an economy are in use, more of one good can be produced only if less of another good is produced.

Explanation:

A graph that describes the maximum amount of one good that can be produced for every possible level of production of the other good is nothing but a production possibilities curve.

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1 1671
Q:

The goal of a market economy is to

A) equity B) security
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) equity

Explanation:
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1 1671