Questions

Q:

Backward bending supply curve belongs to which market?

A) Capital B) Labour
C) Money D) Inventories
 
Answer & Explanation Answer: C) Money

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Q:

In December 2017, Mid-Term Review of the Foreign Trade Policy (FTP) was released. The review announced how much percent increase each in incentive rates of
Merchandise Exports from India Scheme and Services Export from India Scheme?

A) 5% B) 10%
C) 2% D) 15%
 
Answer & Explanation Answer: C) 2%

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Q:

Calculate a country's GDP if for the year, consumer spending is $400 million, government spending is $150 million, investment by businesses is $80 million, exports are $35 million and imports are $40 million.

A) $625 million B) $465 million
C) $475 million D) $635 million
 
Answer & Explanation Answer: A) $625 million

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Q:

A minimum wage _____.

A) is the price floor below which workers may not sell their labor B) is set at a price below the equilibrium wage
C) creates a price ceiling below which the wage cannot legally go D) decreases unemployment
 
Answer & Explanation Answer: A) is the price floor below which workers may not sell their labor

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Q:

Which of the following best describes monetary policy?

A) Managing the economy by controlling the money supply B) Determining the design printed on the national currency
C) Regulating transactions in the currency exchange market D) Raising and lowering the foreign exchange rate
 
Answer & Explanation Answer: A) Managing the economy by controlling the money supply

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Q:

Long run growth in GDP is determined by

A) Capital stocks B) Labour force
C) Both 1 & 2 D) None
 
Answer & Explanation Answer: C) Both 1 & 2

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Q:

The length and breadth of a rectangle are 15 cm and 8 cm respectively. Find its area (in cm2)

A) 240 B) 208
C) 416 D) 120
 
Answer & Explanation Answer: D) 120

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Q:

In a triangle ABC, AB = 8 cm, AC = 10 cm and ∠B = 90°, then the area of ΔABC is

A) 49 sq.cm B) 36 sq.cm
C) 25 sq.cm D) 24 sq.cm
 
Answer & Explanation Answer: D) 24 sq.cm

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