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 Indian Economy Questions

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Q:

Which among the following is an example of micro-economic variable?

A) National Income B) Aggregate Supply
C) Employment D) Consumer's Equilibrium
 
Answer & Explanation Answer: D) Consumer's Equilibrium

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Q:

___________ is an alternative way of representing the production function.

A) The Short Run B) The Long Run
C) Isoquant D) Average product
 
Answer & Explanation Answer: C) Isoquant

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2 1107
Q:

Government borrowing to finance budget deficits _____.

A) will exert downward pressure on interest rates B) will have no effect on interest rates
C) will increase supply of loanable funds D) will put upward pressure on interest rates
 
Answer & Explanation Answer: D) will put upward pressure on interest rates

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0 1104
Q:

What denotes offering several products for sale as one combined product?

A) Advertisement B) Product mix
C) Product bundling D) Differentiation
 
Answer & Explanation Answer: C) Product bundling

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1 1104
Q:

If price of an article decreases from Rs 40 to Rs 30, quantity demanded increases from Q1 units to 7500 units. If point elasticity of demand is -1 find Q1?

A) 9000 units B) 4500 units
C) 10500 units D) 6000 units
 
Answer & Explanation Answer: D) 6000 units

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0 1102
Q:

A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be

A) 3% B) 10%
C) 2.50% D) 7%
 
Answer & Explanation Answer: B) 10%

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0 1099
Q:

A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hired then all other craftsmen must be paid Rs 950. The marginal resource (labour) cost of the 9th craftsman is _________.

A) Rs 1530 B) Rs 1050
C) Rs 50 D) Rs 1350
 
Answer & Explanation Answer: D) Rs 1350

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0 1097
Q:

Monetary policy refers to the actions the Federal Reserve takes to manage

A) income tax rates and interest rates to pursue its economic objectives. B) government spending and income tax rates to pursue its economic objectives.
C) the money supply and income tax rates to pursue its economic objectives. D) the money supply and interest rates to pursue its economic objectives.
 
Answer & Explanation Answer: D) the money supply and interest rates to pursue its economic objectives.

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