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 Indian Economy Questions

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Q:

The 14th Finance Commission has recommended increase in States share in net proceeds from tax collection from 32% to

A) 35% B) 40%
C) 42% D) 45%
 
Answer & Explanation Answer: C) 42%

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Q:

Lorenz curve shows

A) Inflation B) Unemployment
C) Income distribution D) Poverty
 
Answer & Explanation Answer: C) Income distribution

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Q:

In economics secondary effects refer to the

A)  best alternative that must be forgone as the result of a choice. B) immediate and visible intended consequences of a change.
C) impact of the scarcity of resources on the scarcity of the goods that are produced with those resources. D) unintended consequences of a change that are not immediately identifiable but are felt only with time.
 
Answer & Explanation Answer: B) immediate and visible intended consequences of a change.

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Q:

Liabilities are generally classified on a balance sheet as

A) small liabilities and large liabilities B) present liabilities and future liabilities
C) tangible liabilities and intagible liabilities D) current liabilities and long-term liabilities
 
Answer & Explanation Answer: D) current liabilities and long-term liabilities

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Q:

"Residex Index" is associated with which of these?

A) Share Prices B) Mutual Fund Prices
C) Price Inflation Index D) Housing Prices
 
Answer & Explanation Answer: D) Housing Prices

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Q:

The demand for a normal good increases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: A) increase

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Q:

The _________ of a firm is a relationship between inputs used and output produced by the firm.

A) Marginal product B) Production function
C) Total product D) Average product
 
Answer & Explanation Answer: B) Production function

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Q:

Economic sanctions are mainly used to

A) to help international trade run smoothly. B) punish nations that disobey international law
C) to impose tariffs on vehicles at the border D) all the above
 
Answer & Explanation Answer: B) punish nations that disobey international law

Explanation:

A sanction is a punishment imposed on another nation, or on individual natives of another nation.


Economic sanctions are characterized as the withdrawal of standard exchange and money related relations for outside and security strategy purposes. They might be extensive, denying business movement as to a whole nation,...

 

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