Indian Economy Questions

Q:

Disguised unemployment generally means___________.

A) Large number of people remain unemployed B) alternative employment is NOT available
C) marginal productivity of labour is zero D) productivity of workers is low
 
Answer & Explanation Answer: C) marginal productivity of labour is zero

Explanation:
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Q:

Which of the following is classified as working capital?

A) currents assets B) current liabilities
C) Both A & B D) current assets - current liabities
 
Answer & Explanation Answer: D) current assets - current liabities

Explanation:

Working capital, also known as net working capital, is the difference between a company’s current assets, like cash, accounts receivable and inventories of raw materials and finished goods, and its current liabilities, like accounts payable.

 

Working Capital = Current Assets - Current Liabilities

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Q:

Sales commissions are classified as

A) period costs B) indirect labor
C) overhead costs D) product costs
 
Answer & Explanation Answer: D) product costs

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Q:

Which taxes are included in GST?

A) Taxes on lottery B) Sales/VAT tax
C) Both A & B D) None of the above
 
Answer & Explanation Answer: C) Both A & B

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Q:

The real wage will rise if the nominal wage

A) increases more rapidly than the general price level. B) increases at the same rate as labor productivity.
C) falls more rapidly than the general price level. D) falls at the same rate as the general price level.
 
Answer & Explanation Answer: A) increases more rapidly than the general price level.

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Q:

An increase in demand means that

A) the demand curve shifts to the right B) consumers desire a greater quantity
C) Both A & B D) None of the above
 
Answer & Explanation Answer: C) Both A & B

Explanation:

An increase in demand means that the demand curve shifts to the right, and hence quantity demanded will be high at each price.

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Q:

In January 2018, ‘Electoral Bonds’ Scheme was launched. Under this scheme, the electoral bonds will be available at specified branches of _____.

 

 

A) Bank of Baroda B) State Bank of India
C) Punjab National Bank D) Bank of India
 
Answer & Explanation Answer: B) State Bank of India

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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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