Indian Economy Questions

Q:

Which of the following can increase your credit card's APR?

A) Missing a credit card payment. B) Paying off the full balance.
C) Cashing in on rewards points. D) Paying the minimum.
 
Answer & Explanation Answer: A) Missing a credit card payment.

Explanation:

Missing a credit card payment can increase your credit card's APR.

 

APR means Annual Percentage Rate.

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Q:

Microeconomics is the study of

A) Decisions of individual firms B) Decisions of individual households
C) Decisions of individual consumers D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

Microeconomics is the branch or subset of economics that deals with the study of Decisions of individual firms, households and consumers.

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Q:

In calculating the GDP national income accountants

A) add increases in inventories or subtract decreases in inventories B) add exports, but subtract imports
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) add increases in inventories or subtract decreases in inventories

Explanation:
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Q:

A decline in disposable income means

Answer

Disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for.


A decline in disposable income means a movement down along an economy's consumption schedule.

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Q:

“Functional Finance” is associated with: __________

 

 

 

A) Adams B) Adam Smith
C) Adolph Wogner D) Abba P Lerne
 
Answer & Explanation Answer: D) Abba P Lerne

Explanation:
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Q:

Another name for false productivity is

A) making poor decisions B) filling your mind with negative self-talk
C) driving toward success D) spinning your wheels
 
Answer & Explanation Answer: D) spinning your wheels

Explanation:

Another name for false productivity is Spinning your wheels. They use the term for false productivity because your wheels are spinning as you're doing work but you're not going anywhere i.e, making any progress.

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Q:

Net exports are negative when

A) exports are greater than imports B) imports are greater than exports
C) No exports D) None of the above
 
Answer & Explanation Answer: B) imports are greater than exports

Explanation:


When exports are greater than imports, net exports are positive and similarly, when imports are greater than exports, net exports are negative.

 

When a country imports goods, it buys them from foreign producers. The money spent on imports leaves the economy, and that decreases the importing nation's GDP.

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Q:

Consumer surplus arises in a market because

A) some consumers are willing to pay more than the equilibrium price but do not need to do so B) some consumers are willing to pay less than the equilibrium price but do not need to do so
C) at market price, the quantity demanded is less than the quantity supplied D) at market price, the quantity demanded is greater than the quantity supplied
 
Answer & Explanation Answer: A) some consumers are willing to pay more than the equilibrium price but do not need to do so

Explanation:
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