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 Indian Economy Questions

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Q:

As it relates to international trade, dumping

A) is the practice of selling goods in a foreign market at less than cost. B) is a form of price discrimination illegal under U.S. antitrust laws.
C) is defined as selling more goods than allowed by an import quota. D) constitutes a general case for permanent tariffs.
 
Answer & Explanation Answer: A) is the practice of selling goods in a foreign market at less than cost.

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Q:

In which of the following case, law of demand fails?

A) Giffen goods B) Normal goods
C) Inferior goods D) Both Giffen and Inferior goods
 
Answer & Explanation Answer: A) Giffen goods

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Q:

The term 'Macro Economics' was used by __________

A) J.M. Keynes B) Ragner Frisch
C) Ragner Nurkse D) Prof. Knight
 
Answer & Explanation Answer: B) Ragner Frisch

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Q:

A bank statement provided by the bank includes

A) The beginning and the ending balance of the depositor's account B) A list of outstanding check
C) A list of pretty cash amounts D) A listing of deposits in transit
 
Answer & Explanation Answer: A) The beginning and the ending balance of the depositor's account

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Q:

_______________________ is the unemployment which exists in any economy due to people being in the process of moving from one job to another.

A) Seasonal unemployment B) Cyclical unemployment
C) Frictional unemployment D) Structural unemployment
 
Answer & Explanation Answer: C) Frictional unemployment

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Q:

A beedi making workshop can hire 5 women by paying them Rs. 300 per day. The 6th woman demands Rs. 350 per day. If this woman is hired then all other women must be paid Rs. 350. The marginal resource (labour) cost of the 6th woman is

A) Rs. 600 B) Rs. 50
C) Rs. 300 D) Rs. 100
 
Answer & Explanation Answer: A) Rs. 600

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Q:

In 2016, the State Bank of India launched a new product called 'SBI Exclusif'. What is the financial nature of this product?

A) Insurance B) Mutual Fund Offering
C) Wealth Management D) Recurring Deposit Scheme
 
Answer & Explanation Answer: C) Wealth Management

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Q:

The unemployment created at certain times of the year, when the demand for goods and services are lower than normal, is _____.

A) Cyclical unemployment B) Frictional unemployment
C) Seasonal unemployment D) Structural unemployment
 
Answer & Explanation Answer: C) Seasonal unemployment

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