0
Q:

Administered prices refer to 

Answer:



Q:

Taxes cannot be levied by the union government in India -

A) Tax on professions B) Service tax
C) Income tax D) All of the above
 
Answer & Explanation Answer: A) Tax on professions

Explanation:

Tax on professions cannot be levied by the union government in India.

Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT , GATE
Job Role: Analyst , Bank Clerk , Bank PO

3 81
Q:

The long run aggregate supply curve is vertical because

A) there is no cyclical inflation B) potential GDP is low
C) at full employment prices are stable D) all of the above
 
Answer & Explanation Answer: C) at full employment prices are stable

Explanation:

The long-run aggregate supply curve is vertical because it is at the full-employment or potential output. Because the economy's potential output is determined by the availability and productivity of real resources, not by the price level. That means that even if demand increases, firms can't hire new workers and expand because everyone is already working.

Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

2 89
Q:

A business owned by one person

A) Sole proprietorship B) Non profit
C) Limited liability D) None of the above
 
Answer & Explanation Answer: A) Sole proprietorship

Explanation:

A business owned by one person and operates for their benefits is called as Sole Proprietorship or sole trader.

Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

2 254
Q:

Most electric, gas, and water companies are examples of

A) restricted-input monopolies B) sunk-cost monopolies
C) natural monopolies D) unregulated monopolies
 
Answer & Explanation Answer: C) natural monopolies

Explanation:

Most electric, gas, and water companies are examples of natural monopolies. Utilities like water, electricity and gas are essential services that play a vital role in economic and social development.

Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 142
Q:

Sales commissions are classified as

A) period costs B) indirect labor
C) overhead costs D) product costs
 
Answer & Explanation Answer: D) product costs

Explanation:
Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

2 176
Q:

Money spent on government programs is referred to as

A) Revenue B) Obligation
C) Expenditure D) Bonding
 
Answer & Explanation Answer: C) Expenditure

Explanation:

Money spent by the government on government programs such as road work, electricity work, manhole, etc... that are aiming to contribute to the nation's social welfare in long and short term are referred to as Goverment Expenditures.

Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

3 172
Q:

A favorable cost variance occurs when

A) actual incurred cost is less than the standard cost B) actual incurred cost is greater than the standard cost
C) actual incurred cost is equal to the standard cost D) None of the above
 
Answer & Explanation Answer: A) actual incurred cost is less than the standard cost

Explanation:

Cost variance is nothing but the difference between the actual incurred cost and the estimated standard cost. This can be occured due to any changes in the volume of goods or services ordered. 

A favorable cost variance occurs when the actual incurred cost is less than the standard cost estimated before the production.

Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 211
Q:

Capitalism is an economic system in which

A) private entities own capital goods B) Public entities own capital goods
C) Both A & B D) None of the above
 
Answer & Explanation Answer: A) private entities own capital goods

Explanation:

Capitalism is an economic system in which private entities or businesses own capital goods.

Report Error

View Answer Workspace Report Error Discuss

Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

4 192