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Q:

What is the full form of GDP

A) Gross domestic product B) Global domestic Ratio
C) Gross depository revenue D) Global depository receipts
 
Answer & Explanation Answer: A) Gross domestic product

Explanation:

GDP full form is Gross domestic product.

 

It is a measurement of a nation’s overall economic activity. 

GDP is the monetary value of all the finished goods and services produced within a country's borders in a specific time period.

 

gdp_full_form_is1536139309.jpg image

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Filed Under: Indian Economy
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Q:

Which one of the following can be called as a part of the Service Sector

A) Textile Mills B) Banking
C) Coal mines D) Agriculture
 
Answer & Explanation Answer: B) Banking

Explanation:
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Filed Under: Indian Economy

Q:

Simran started a software business by investing Rs. 50,000. After six months, Nanda joined her with a capital of Rs. 80,000. After 3 years, they earned a profit of Rs. 24,500. What was Simran's share in the profit ?

A) 10110 B) 10500
C) 12000 D) 13000
 
Answer & Explanation Answer: B) 10500

Explanation:

Simran : Nanda = (50000 * 36) : (80000 * 30) = 3 : 4.

Simran's share = Rs. ( 24500 * 3/7)  =  Rs. 10500.

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Filed Under: Partnership

Q:

Which of the following is definitelyy a major indication of the state of the economy of the country

A) rate of GDP growth B) rate of inflation
C) number of banks in a country D) stock of food grains in a country
 
Answer & Explanation Answer: A) rate of GDP growth

Explanation:
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Filed Under: Indian Economy

Q:

National Income based on the 

A) total revenue of the state B) production of goods and services
C) net profit earned and expenditure made by the state D) the sum of all fractions of income
 
Answer & Explanation Answer: B) production of goods and services

Explanation:
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Q:

Reena and Shaloo are partners in a business, Reena invests Rs, 35,000 for 8 months and Shaloo invests Rs. 42,000 for 10 months, out of a profit of  Rs. 31,570, Reena's share is :

A) 12628 B) 18245
C) 11235 D) 10253
 
Answer & Explanation Answer: A) 12628

Explanation:

Ratio of their shares = (35000 * 8) : (42000 * 10) = 2 : 3.

Reena's share Rs. 31570 * (2 / 5) = Rs. 12628.

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Filed Under: Partnership

Q:

Net National product of a country is

A) GDP minus depreciation allowances B) GDP plus net income from abroad
C) GNP minus net income from abroad D) GNP minus depreciation allowances
 
Answer & Explanation Answer: D) GNP minus depreciation allowances

Explanation:
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Q:

Which one of the following is NOT amethod of measurement of National Income

A) Value added method B) Income method
C) Expenditure method D) Investment method
 
Answer & Explanation Answer: D) Investment method

Explanation:
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Filed Under: Indian Economy