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 Indian Economy Questions

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Q:

Tax on inheritance is called __________

A) Excise duty B) Estate duty
C) Gift tax D) Sales tax
 
Answer & Explanation Answer: B) Estate duty

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Q:

The rate of inflation increases when the purchasing powerof money___________ .

A) Decreases B) Increases
C) Stable D) Decrease just half
 
Answer & Explanation Answer: A) Decreases

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Exam Prep: Bank Exams

0 1648
Q:

Money market is a market for _______________

A) Short term fund B) Long term fund
C) Negotiable instruments D) Sale of shares
 
Answer & Explanation Answer: A) Short term fund

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Q:

Which of the following is not a primary function of a bank?

A) Facilitating import of goods B) Remittance facility
C) Safe custody of articles D) Foreign Exchange
 
Answer & Explanation Answer: A) Facilitating import of goods

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Exam Prep: Bank Exams

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Q:

If price of an article decreases from Rs P1 to Rs 190, when quantity demanded increases from 5000 units to 5200 units, and if point elasticity of demand is -0.8 find P1?

A) Rs 220 B) Rs 240
C) Rs 200 D) Rs 250
 
Answer & Explanation Answer: C) Rs 200

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Exam Prep: Bank Exams

0 1638
Q:

If two goods are complements, then

A) the cross-price elasticity of demand will be positive B) an increase in the price of one good will increase demand for the other
C) the cross-price elasticity of demand will be negative D) both B & C
 
Answer & Explanation Answer: D) both B & C

Explanation:

In economics, If two goods are complements, then the cross elasticity of demand is negative. That means a good's demand is increased when the price of another good is decreased. Conversely, the demand for a good is decreased when the price of another good is increased. It is opposite of substitute goods. 

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

1 1634
Q:

Lowering of value of currency relative to a foreign reference currency is called _________.

A) Devaluation B) Revaluation
C) Down valuation D) Negative valuation
 
Answer & Explanation Answer: A) Devaluation

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Exam Prep: CAT , Bank Exams

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Q:

If goods A and Z are complements, an increase in the price of good Z will _____.

A) increase demand for good A B) decrease demand for good A
C) decrease demand for good Z D) increase demand for good Z
 
Answer & Explanation Answer: B) decrease demand for good A

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