Indian Economy Questions

Q:

In May 2017, the Base year of All-Indian WPI (Wholesale Price Index) has been revised from 2004-05 to ______.

A) 2010-11 B) 2015-16
C) 2011-12 D) 2016-17
 
Answer & Explanation Answer: C) 2011-12

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Q:

‘Capital gains’ refers to goods which

A) serve as a source of raising further capital B) help in the further production of goods
C) directly go into the satisfaction of human wants D) find multiple uses
 
Answer & Explanation Answer: B) help in the further production of goods

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Q:

If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good is called __________.

A) Law of demand B) Law of supply
C) Law of substitution D) Law of optimal choice
 
Answer & Explanation Answer: A) Law of demand

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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:

The goal of expansionary fiscal policy is to increase

A) Unemployment B) The price level
C) Aggregate supply D) Real GDP
 
Answer & Explanation Answer: D) Real GDP

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Q:

For the buying and selling of precious metals such as Goldand Silver, the market established is termed as ________ .

A) Capital Market B) Money Market
C) Bullion Market D) wholesale cash market
 
Answer & Explanation Answer: C) Bullion Market

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Q:

In December 2017, Mid-Term Review of the Foreign Trade Policy (FTP) was released. The review announced how much percent increase each in incentive rates of
Merchandise Exports from India Scheme and Services Export from India Scheme?

A) 5% B) 10%
C) 2% D) 15%
 
Answer & Explanation Answer: C) 2%

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Q:

In ____________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition.

A) Monopsony B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: D) Monopolistic Competition

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