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 Indian Economy Questions

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Q:

Sociologists define the concept of "race" as

A) a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important. B) people who fall into any minority category.
C) a cultural heritage shared by a category of people. D) a person's skin color.
 
Answer & Explanation Answer: A) a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.

Explanation:

Sociologists define the concept of "race" as a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.

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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
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0 2057
Q:

The multiplier effect means that

Answer

The multiplier effect means that "An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent."

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Subject: Indian Economy Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

1 2057
Q:

The term 'Dumping' refers to

A) The sale of a sub­standard commodity B) Sale in a foreign market of a commodity at a price below marginal cost
C) Sale in a foreign market of a commodity just at marginal cost with too much of profit D) Smuggling of goods without paying any customs duty
 
Answer & Explanation Answer: B) Sale in a foreign market of a commodity at a price below marginal cost

Explanation:
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Exam Prep: Bank Exams

0 2050
Q:

The foreign purchases effect

A) shifts the aggregate demand curve leftward B) moves the economy along a fixed aggregate demand curve
C) shifts the aggregate demand curve rightward D) shifts the aggregate supply curve rightward
 
Answer & Explanation Answer: B) moves the economy along a fixed aggregate demand curve

Explanation:
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Exam Prep: AIEEE , Bank Exams , CAT
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0 2043
Q:

Short term contractions and expansions in economic activity are called ______________

A) Expansions B) Recession
C) Deficits D) The business cycle
 
Answer & Explanation Answer: D) The business cycle

Explanation:
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1 2038
Q:

A decline in disposable income means

Answer

Disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for.


A decline in disposable income means a movement down along an economy's consumption schedule.

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Subject: Indian Economy Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

4 2035
Q:

The law of supply indicates that other things equal

A) producers will offer more of a product at high prices than at low prices B) the quantity supplied of the good rises
C) the quantity supplied of the good rises D) producers will offer more of a product at high prices than at low prices
 
Answer & Explanation Answer: A) producers will offer more of a product at high prices than at low prices

Explanation:
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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams
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2 2034
Q:

Through specialization and international trade, a nation

A) will attain some combination of goods lying inside its production possibilities curve B) will shift its production possibilities curve towards left
C) can attain some combination of goods lying outside its production possibilities curve D) will shift its production possibilities curve towards right
 
Answer & Explanation Answer: C) can attain some combination of goods lying outside its production possibilities curve

Explanation:
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Filed Under: Indian Economy
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0 2031