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 Indian Economy Questions

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Q:

What was the major decision that took place in 1987 Montreal Conference?

A) Developed countries will completely ban CFC production by 2000 B) Developed countries will completely ban CFC production by 2010
C) Developing countries will completely ban CFC production by 2000 D) Developing countries will completely ban CFC production by 2020
 
Answer & Explanation Answer: A) Developed countries will completely ban CFC production by 2000

Explanation:
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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:

Sales commissions are classified as

A) period costs B) indirect labor
C) overhead costs D) product costs
 
Answer & Explanation Answer: D) product costs

Explanation:
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Q:

Disguised unemployment generally means___________.

A) Large number of people remain unemployed B) alternative employment is NOT available
C) marginal productivity of labour is zero D) productivity of workers is low
 
Answer & Explanation Answer: C) marginal productivity of labour is zero

Explanation:
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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

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1 2094
Q:

Fiscal policy is connected with

A) Public revenue & expenditure B) Exports and imports
C) Issue of currency D) Taxes
 
Answer & Explanation Answer: A) Public revenue & expenditure

Explanation:

Fiscal policy is connected with public revenue and expenditures. This policy is the use of government revenue collection to monitor the nation's economy.

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1 2091
Q:

The law of supply indicates that, other things equal

A) sellers will offer more of a product at low prices than at high prices. B) buyers will purchase less of a good at high prices than at low prices.
C) Sellers will offer more of a product at high prices than at low prices. D) the product supply curve is downward sloping.
 
Answer & Explanation Answer: C) Sellers will offer more of a product at high prices than at low prices.

Explanation:
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1 2085
Q:

What happens to demand when price increases?

A) increases B) decreases
C) remains same D) Can't be determined
 
Answer & Explanation Answer: B) decreases

Explanation:

The Law of Demand tells that, if the price of a product increases then the demand will go down i.e, decreases iff all other things equal.

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