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 Indian Economy Questions

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Q:

Which of the following do economists consider to be capital?

A) a construction crane B) a savings account
C) a share of IBM stock D) a pair of stockings
 
Answer & Explanation Answer: A) a construction crane

Explanation:

In economics, there are four factors of production. They are :

1. Land

2. Labour

3. Capital

4. Organization

 

Here in the given options, a construction crane acts like capital.

 

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Exam Prep: Bank Exams

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Q:

SEBI is ___________.

A) Constitutional body B) advisory body
C) statutory body D) non-statutory body
 
Answer & Explanation Answer: C) statutory body

Explanation:
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Exam Prep: Bank Exams , CAT

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Q:

In perfect competition a firm maximizes profit by _____.

A) setting price such that price is equal to or greater than its marginal costs B) setting output such that price equals average total costs
C) setting output such that price equals marginal costs D) setting price so that it is greater than marginal cost
 
Answer & Explanation Answer: C) setting output such that price equals marginal costs

Explanation:
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Q:

Economic planning in India is in____

A) Union List B) State list
C) Concurrent List D) None
 
Answer & Explanation Answer: C) Concurrent List

Explanation:
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Q:

Stagflation is a period of _______.

A) Persistent high inflation combined with high unemployment B) Persistent high inflation combined with low unemployment
C) Persistent low inflation combined with high unemployment D) Persistent low inflation combined with low unemployment
 
Answer & Explanation Answer: A) Persistent high inflation combined with high unemployment

Explanation:
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Exam Prep: CAT

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Q:

Which of the following measures will not increase a nation's wealth?

A) investing in new companies B) increasing efficiency of factories
C) converting grasslands into orchards D) By redistributing taxes as subsidies
 
Answer & Explanation Answer: D) By redistributing taxes as subsidies

Explanation:
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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

Explanation:
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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

Explanation:
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Exam Prep: Bank Exams

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