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Q:

A master plan is devised for

A) Long-range goals B) Emergencies
C) Short-term goals D) Investments

Answer:   A) Long-range goals



Explanation:

A master plan is devised for long-range goals.

Subject: Indian Economy
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Q:

Business fluctuations refer to

A) the ups and downs in overall business B) expansion is rapid
C) contraction is severe D) None of the above
 
Answer & Explanation Answer: A) the ups and downs in overall business

Explanation:

Business fluctuations refer to the ups and downs in overall business activity measured by changes in national​ income, employment and the price level.

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1 93
Q:

The MPC for an economy is

A) the slope of the savings schedule or line. B) 1 divided by the slope of the savings schedule or line.
C) the slope of the consumption schedule or line. D) 1 divided by the slope of the consumption schedule or line.
 
Answer & Explanation Answer: D) 1 divided by the slope of the consumption schedule or line.

Explanation:

Marginal propensity to consume (MPC) in economics is a metric that quantifies induced consumption, the concept that the increase in personal consumer spending (consumption) occurs with an increase in disposable income (income after taxes and transfers).

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0 83
Q:

What was the strength of Indus economy?

A) Trading B) Agriculture
C) Electricity D) Mining
 
Answer & Explanation Answer: B) Agriculture

Explanation:
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0 73
Q:

A large underground economy results in an

A) Overstated GDP B) Understated GDP price index
C) Overstated GDP price index D) Understated GDP
 
Answer & Explanation Answer: D) Understated GDP

Explanation:
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Q:

A command economy tends to exist under a

A) Representative government that provides no regulation. B) Socialist government that provides a lot of regulation.
C) Communist government that provides little regulation. D) Democratic government that provides some regulation.
 
Answer & Explanation Answer: B) Socialist government that provides a lot of regulation.

Explanation:

A command economy types of government decide which goods would be produced without any interference of the public.


Command economy ran in Germany during the rule of Adolf Hitler. 

 

A command economy tends to exist under a socialist government that provides a lot of regulation.

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0 94
Q:

Economics involves marginal analysis because

A) marginal benefits always exceed marginal costs B) much economic behavior is irrational
C) most decisions involve changes from the present situation D) marginal costs always exceed marginal benefits
 
Answer & Explanation Answer: C) most decisions involve changes from the present situation

Explanation:
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2 95
Q:

Which of the following statements about taxes is false?

A) Some states don’t collect income tax B) Taxes at the local, state and federal level are all equal
C) Taxes are collected at the local, state and federal level D) Some states don’t collect sales tax
 
Answer & Explanation Answer: A) Some states don’t collect income tax

Explanation:
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3 113
Q:

The concept of net domestic investment refers to

A) the difference between the market value and book value of outstanding capital stock. B) total investment less the amount of investment goods used up in producing the year's output.
C) the amount of machinery and equipment used up in producing the GDP in a specific year. D) gross domestic investment less net exports.
 
Answer & Explanation Answer: B) total investment less the amount of investment goods used up in producing the year's output.

Explanation:
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