1
Q:

# Demand is said to be elastic when the

 A) change in quantity demanded is less than the change in price B) change in quantity demanded is greater than the change in price C) percentage change in quantity demanded is greater than the percentage change in price D) percentage change in quantity demanded is less than the percentage change in price

Answer:   B) change in quantity demanded is greater than the change in price

Explanation:
Subject: Indian Economy
Exam Prep: Bank Exams
Q:

The sampling distribution of a statistic is

 A) A normal curve, for which probabilities are obtained by standardizing. B) A distribution of all possible summary statistics from a single random sample, from the same population. C) A distribution of all parameters from the population that is to be randomly sampled. D) The mechanism that determines whether the random sampling was effective.

Answer & Explanation Answer: A) A normal curve, for which probabilities are obtained by standardizing.

Explanation:

The sampling distribution of a statistic is the distribution of the statistic for all possible samples from the same population of a given size.

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 24
Q:

As per the announcement by the government in August 2017, Banks importing gold and precious metals will have to pay ______ tax under the GST.

 A) 5% B) 10% C) 3% D) 8%

Explanation:

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 23
Q:

What is poverty gap?

 A) the difference between poverty line and actual income level of all those living below that line B) gap between developed and developing nations C) gap between the rich and the poor D) gap between infrastructural facilities in developed and developing nations

Answer & Explanation Answer: A) the difference between poverty line and actual income level of all those living below that line

Explanation:

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 16
Q:

Which of the following is a characteristic of the monopolistic competition?

 A) A large number of firms compete B) Each firm produces a differentiated product C) Both answers A and B are correct D) Barriers to entry

Answer & Explanation Answer: C) Both answers A and B are correct

Explanation:

A large number of firms compete and Each firm produces a differentiated product is a characteristic of the market structure for monopolistic competition.

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 60
Q:

What is income available with a person after deducting for taxes called?

 A) Disposable Income B) Cash Income C) Salary D) General Income

Answer & Explanation Answer: A) Disposable Income

Explanation:

Filed Under: Indian Economy
Exam Prep: Bank Exams

1 55
Q:

Leverage enables currency traders to do which of the following?

 A) Reduce the risk of losing money B) Force foreign governments to print more money C) Make large currency trades using small amounts of money D)  Buy currencies before they are available to the public

Answer & Explanation Answer: C) Make large currency trades using small amounts of money

Explanation:

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 112
Q:

In April 2017, the announcement was made to change the Base year for GDP Calculation. The new Base year will be ______.

 A) 2011-12 B) 2015-16 C) 2017-18 D) 2016-17

Explanation:

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 52
Q:

A growing country is one with ___________ there.

 A) rising GNP at constant prices B) rising GNP at current prices C) constant GNP at constant prices D) No option is correct

Answer & Explanation Answer: A) rising GNP at constant prices

Explanation: