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 Indian Economy Questions

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Q:

On January 3, 2018, RBI initiated ‘PCA’ against the Allahabad Bank. How many public sector banks have been covered under ‘PCA’?

 

A) 18 B) 17
C) 11 D) 15
 
Answer & Explanation Answer: C) 11

Explanation:
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Q:

Assessing opportunity cost involves

A) choosing consequences over profits B) maximizing profit and loss
C) making choices and dealing with consequences D) Both B & C
 
Answer & Explanation Answer: C) making choices and dealing with consequences

Explanation:

Assessing opportunity cost involves making choices and dealing with consequences.

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Q:

Which among the following is an International river

A) Brahmaputra B) Cauvery
C) Krishna D) Narmada
 
Answer & Explanation Answer: A) Brahmaputra

Explanation:
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Q:

The MPC for an economy is

A) the slope of the savings schedule or line. B) 1 divided by the slope of the savings schedule or line.
C) the slope of the consumption schedule or line. D) 1 divided by the slope of the consumption schedule or line.
 
Answer & Explanation Answer: D) 1 divided by the slope of the consumption schedule or line.

Explanation:

Marginal propensity to consume (MPC) in economics is a metric that quantifies induced consumption, the concept that the increase in personal consumer spending (consumption) occurs with an increase in disposable income (income after taxes and transfers).

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Q:

Production costs to an economist

A) reflect opportunity costs B) consist only of explicit costs
C) always reflect monetary outlays D) never reflect monetary outlays
 
Answer & Explanation Answer: A) reflect opportunity costs

Explanation:

Production costs to an economist reflect opportunity costs.

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Q:

Which state in India  is estimated to have the largest coal reserves in India

A) Bihar B) Jharkhand
C) Madhya Pradesh D) Orissa
 
Answer & Explanation Answer: B) Jharkhand

Explanation:
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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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Q:

As per the decision of the GST Council, e-Way Bill system has been rolled out from

A) 1st March 2018 B) 1st April 2018
C) 1st May 2018 D) 1st January 2018
 
Answer & Explanation Answer: B) 1st April 2018

Explanation:

As per the decision of the GST Council, e-Way Bill system has been rolled out from 1st of April this year (2018).

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