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 Indian Economy Questions

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Q:

An increase in price of which of these products will have a ripple effect in increasing the prices of many products, thereby resulting in inflation?

A) Petroleum B) Medicines
C) Smartphones D) Automobiles
 
Answer & Explanation Answer: A) Petroleum

Explanation:
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Filed Under: Indian Economy
Exam Prep: Bank Exams , CAT

1 1082
Q:

If expenses are paid in cash then

A) assets will decrease. B) assets will increase.
C) liabilities will decrease. D) stockholders' equity will increase.
 
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Exam Prep: Bank Exams

0 1051
Q:

What happens to demand when price increases?

A) increases B) decreases
C) remains same D) Can't be determined
 
Answer & Explanation Answer: B) decreases

Explanation:

The Law of Demand tells that, if the price of a product increases then the demand will go down i.e, decreases iff all other things equal.

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1 1049
Q:

What is the slowdown in the rate of increase of prices of goods & services in National GDP over time called?

A) Deflation B) Disinflation
C) Inflation D) Reflation
 
Answer & Explanation Answer: B) Disinflation

Explanation:

In the rate ofinflation, disinflation is a decrease –in a nation'sgross domestic productover time, a slowdown in the rate of increase of the generalprice levelof goods and services. It is the opposite ofreflation. When the increase in the “consumer price level” it occurs disinflation and slows down from the previous period when the prices were rising.

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0 1043
Q:

"GDP price index" measures changes in the

A) Amount of resources available in the nation B) Value of final output produced in the nation
C) Cost of resources employed in the nation D) Prices of the output produced in the nation
 
Answer & Explanation Answer: B) Value of final output produced in the nation

Explanation:

"GDP price index" measures changes in the value of final output produced in the nation.

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0 1042
Q:

Inflation is a situation characterised by

A) Too much money chasing too few goods B) Too few money chasing too much goods
C) Too many people chasing too few goods D) Too many people chasing too little money
 
Answer & Explanation Answer: A) Too much money chasing too few goods

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0 1020
Q:

Macroeconomics is the study of

A) behavior of economy B) performance of economy
C) changes in economy D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

Macroeconomics is the study of overall aggregate changes, behavior and performance of the economy of the country i.e, unemployment, GDP, inflation, etc...

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1 1018
Q:

Employment in agriculture comes under

A) organised sector B) service sector
C) unorganised sector D) semi organised sector
 
Answer & Explanation Answer: B) service sector

Explanation:
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