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 Indian Economy Questions

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Q:

The short run average cost curve is ____ shaped.

A) U B) V
C) X D) W
 
Answer & Explanation Answer: A) U

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Q:

The main effect of Direct Taxes is on

A) Food prices B) Consumer goods
C) Capital goods D) Income
 
Answer & Explanation Answer: D) Income

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Q:

Which among the following is not a direct tax?

A) Income tax B) Wealth tax
C) Corporate tax D) None of these
 
Answer & Explanation Answer: D) None of these

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Q:

If price of an article decreases from Rs 100 to Rs 80, when quantity demanded increases from Q1 units to 4600 units, and if point elasticity of demand is 0.75 find Q1?

A) 5000 units B) 4000 units
C) 3000 units D) 2000 units
 
Answer & Explanation Answer: B) 4000 units

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Q:

Who is the Chief Economic Advisor to the Government of India?

A) Raghu Ram Rajan B) Arvind Subramanian
C) Rajiv Mahirishi D) Arvind Pangariya
 
Answer & Explanation Answer: B) Arvind Subramanian

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Q:

Buyer’s market denotes the place where ___________.

A) the demand exceed the supply B) the supply exceed the demand
C) commodities are available at competitive rates D) the demand and supply are well balanced
 
Answer & Explanation Answer: A) the demand exceed the supply

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Q:

Find the similarity among the following: Makar Sankranthi, Pongal, Lohri, Baisakhi

A) All are festivals of North India B) All are names of harvest festivals
C) All are festivals celebrated in the month of January D) There is no similarity at all
 
Answer & Explanation Answer: B) All are names of harvest festivals

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Q:

"The General Equilibrium Analysis" was developed by

A) Marshall B) Ricardo
C) Walras D) Adam Smith
 
Answer & Explanation Answer: C) Walras

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