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 Indian Economy Questions

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Q:

Globalization has the largest effect on

A) Politics B) Economy
C) Employment D) Business
 
Answer & Explanation Answer: B) Economy

Explanation:

Globalization has the largest effect on the economies. Globalisation is the process of interaction and integration between people, companies, and governments worldwide.

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1 1741
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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2 1738
Q:

Government imposes taxes to

A) Check accumulation of wealth among the rich B) Run the machinery of the state
C) Uplift weaker sections D) All of the above
 
Answer & Explanation Answer: B) Run the machinery of the state

Explanation:

Government imposes taxes to run the machinery of the state. Taxes serve as the main source of income for the government revenue.

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1 1733
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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1 1709
Q:

Which of the following can increase your credit card's APR?

A) Missing a credit card payment. B) Paying off the full balance.
C) Cashing in on rewards points. D) Paying the minimum.
 
Answer & Explanation Answer: A) Missing a credit card payment.

Explanation:

Missing a credit card payment can increase your credit card's APR.

 

APR means Annual Percentage Rate.

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0 1702
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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1 1695
Q:

The demand curve shows the relationship between

A) good price and the service B) quantity demanded and the price of the good
C) quality and quantity of the good D) quality and price of the good
 
Answer & Explanation Answer: B) quantity demanded and the price of the good

Explanation:
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0 1670
Q:

A negative supply shock in the short run causes

A) the aggregate supply curve to shift to the left B) unemployment to fall
C) the aggregate supply curve to shift to the right D) the price level to fall
 
Answer & Explanation Answer: A) the aggregate supply curve to shift to the left

Explanation:

A negative supply shock in the sho rt run causes the aggregate supply curve to shift to the left.

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1 1661