5
Q:

The Income elasticity demand for farm products is

A) High in India B) No demand at all
C) Very low in India D) High supply and no demand

Answer:   C) Very low in India



Explanation:

Income easticity of demand measures the responsiveness of demand for any goods to changes in income. With increase in incomes generally the demand for farm products like rice wheat etc, will not change drastically. With income increase, demand for luxuries such as consumer durables etc will increase. The income elasticity  of demand for farm products is thus low.

Subject: Indian Economy
Q:

Which of the following controls the insurance business of India?

A) RBI B) IDBI
C) SEBI D) IRDA
 
Answer & Explanation Answer: D) IRDA

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1 117
Q:

MUDRA Bank has been launched to help

A) Small business B) Marginal farmers
C) Poor women D) Rural sector
 
Answer & Explanation Answer: A) Small business

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Q:

What is the new Reverse Repo rate announced by the Reserve Bank of India (RBI) as on 1st August 2018?

 

A) 5.75 B) 6.75
C) 6.5 D) 6.25
 
Answer & Explanation Answer: D) 6.25

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1 559
Q:

Which among the following can best define the Neolithic Revolution?

 

A) Technology Revolution B) Agricultural Revolution
C) Milk Revolution D) Green Revolution
 
Answer & Explanation Answer: B) Agricultural Revolution

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Q:

NERAMAC, which was seen in the recent stimulus package, is associated with which sector?

 

A) Health B) Agriculture
C) Tourism D) Sports
 
Answer & Explanation Answer: B) Agriculture

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Q:

Which tax on crude Palm oil was recently reduced to 10 percent?

 

A) Customs Duty B) Goods and Services Tax
C) Excise Duty D) None of the above
 
Answer & Explanation Answer: A) Customs Duty

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Q:

Identify the A quiet maritime strategic diplomacy has emerged as the key theme of this year's Union Budget 2018-19?

 

A) Big investment in island nations B) Moderate investment in coastline infrastructure
C) Big investment in coastline guard and patrol D) Moderate investment in Hitech Vessels
 
Answer & Explanation Answer: A) Big investment in island nations

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Q:

Which is the first Indian company to hit the ₹10 lakh crore mark in market capitalization?

 

A) HDFC Bank B) ICICI Bank
C) Tata Consultancy Services D) Reliance Industries
 
Answer & Explanation Answer: D) Reliance Industries

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