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 Indian Economy Questions

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Q:

One of the following is 'Labour' in Economics.

A) A Musician performing for a benefit fund B) A Painter working for his own pleasure
C) Reading a book as a hobby D) A Mother teaching her own son
 
Answer & Explanation Answer: A) A Musician performing for a benefit fund

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Q:

Medium term loans are provided for a period of _____.

A) 1 year to 2 years B) 15 months to 3 years
C) 15 months to 4 years D) 1 year to 3 years
 
Answer & Explanation Answer: D) 1 year to 3 years

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Exam Prep: Bank Exams

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Q:

Which of the following is represented by 'Lorenz Curve'?

A) Employment B) Inflation
C) Deflation D) Income Distribution
 
Answer & Explanation Answer: D) Income Distribution

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Q:

Economic costs of production differ from accounting costs in that

Answer

Economic costs add the opportunity costs of a firm using its own resources while accounting costs do not.

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Subject: Indian Economy Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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Q:

The second Green Revolution aims at increasing agricultural output to promote

A) Availability of easy credit to big farmers B) Co-operative farming
C) Inclusive growth D) Development of rural sector
 
Answer & Explanation Answer: C) Inclusive growth

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Exam Prep: Bank Exams

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Q:

Which one of the following is not an instrument of credit control in India?

A) Rationing of credit B) Direct Action
C) Open Market operations D) Variable cost reserve ratios
 
Answer & Explanation Answer: D) Variable cost reserve ratios

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Exam Prep: Bank Exams

1 1752
Q:

Revenue should be recognized when

A) the service is performed B) the customer charges an order
C) cash is received D) the customer places an order
 
Answer & Explanation Answer: A) the service is performed

Explanation:

Revenue should be recognized when it is realized or when it is earned. When a service is performed something is earned and revenue should be recognized.

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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 1751
Q:

Graphical analysis of tariffs reveals that

A) they benefit domestic consumers at the expense of domestic producers. B) revenue gains outweigh the costs to domestic consumers.
C) they increase domestic production of the good for which imports face tariffs. D) although the benefits are not shared equally, everyone in the domestic economy benefits from tariffs
 
Answer & Explanation Answer: C) they increase domestic production of the good for which imports face tariffs.

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