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Q:

Per Captain Income of a country derived from

A) National Income B) Population
C) National Income and Population both D) none of these

Answer:   C) National Income and Population both



Explanation:
Subject: Indian Economy
Q:

In the aggregate expenditures model, it is assumed that investment

in_the_aggregate_expenditures_model_it_is_assumed_that_investment1553493949.jpg image

A) does not change when real GDP changes B) does not respond to changes in interest rates
C) changes by less in percentage terms than changes in real GDP D) automatically changes in response to changes in real GDP
 
Answer & Explanation Answer: A) does not change when real GDP changes

Explanation:

In the aggregate expenditures model, it is assumed that investment does not change when real GDP changes.

 

  • The aggregate expenditure is the sum of all the expenditures undertaken in the economy by the factors during a specific time period.

 

  • The aggregate expenditure determines the total amount that firms and households plan to spend on goods and services at each level of income.
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Q:

Take Off Stage in an economy means

A) All controls are removed B) Economy is stagnant
C) Steady growth begins D) Economy is about to collapse
 
Answer & Explanation Answer: C) Steady growth begins

Explanation:

"Take Off Stage" in an economy means Steady growth begins.

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0 233
Q:

If depreciation exceeds gross investment

A) the economy's stock of capital is growing B) the economy's stock of capital may be either growing or shrinking
C) net investment is zero D) the economy's stock of capital is shrinking
 
Answer & Explanation Answer: D) the economy's stock of capital is shrinking

Explanation:
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Q:

A perfectly inelastic demand curve

A) Vertical with some steep B) Perfectly horizontal
C) Horizontal with some steep D) Perfectly vertical
 
Answer & Explanation Answer: D) Perfectly vertical

Explanation:

A perfectly inelastic demand curve is perfectly vertical either up or down in any way.

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0 179
Q:

What happens to demand when price increases?

A) increases B) decreases
C) remains same D) Can't be determined
 
Answer & Explanation Answer: B) decreases

Explanation:

The Law of Demand tells that, if the price of a product increases then the demand will go down i.e, decreases iff all other things equal.

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1 171
Q:

The scarcity definition of economics is credited to

A) Dennis Robertson B) Lionel Robbins
C) Alfred Marshall D) Adam Smith
 
Answer & Explanation Answer: B) Lionel Robbins

Explanation:

The scarcity definition of economics is credited to Lionel Robbins.

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Q:

Assessing opportunity cost involves

A) choosing consequences over profits B) maximizing profit and loss
C) making choices and dealing with consequences D) Both B & C
 
Answer & Explanation Answer: C) making choices and dealing with consequences

Explanation:

Assessing opportunity cost involves making choices and dealing with consequences.

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Q:

A pure market economy is sometimes called pure

A) Capitalism B) Stocking
C) Sharing D) Socialism
 
Answer & Explanation Answer: A) Capitalism

Explanation:
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