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 Indian Economy Questions

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Q:

The average product curve are inverse ____ shaped.

A) X B) W
C) V D) U
 
Answer & Explanation Answer: D) U

Explanation:
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Q:

Medium term loans are provided for a period of _____.

A) 1 year to 2 years B) 15 months to 3 years
C) 15 months to 4 years D) 1 year to 3 years
 
Answer & Explanation Answer: D) 1 year to 3 years

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Q:

Which of the following is represented by 'Lorenz Curve'?

A) Employment B) Inflation
C) Deflation D) Income Distribution
 
Answer & Explanation Answer: D) Income Distribution

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Q:

According to the report by the Commerce Ministry ‘Logistics Ease Across Different States (LEADS)’, which of the following state has topped the Logistic Index Chart?

A) Maharashtra B) Andhra Pradesh
C) Gujarat D) Karnataka
 
Answer & Explanation Answer: C) Gujarat

Explanation:

According to the report by the Commerce Ministry ‘Logistics Ease Across Different States (LEADS)’, Gujarat has topped the Logistic Index Chart, an indicator of the efficiency of logistics services necessary for promoting exports in particular, and economic growth in general. Gujarat is followed by Punjab, Andhra Pradesh, Karnataka and Maharashtra on the index.

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Q:

If demand curve for house cleaning services is D = 45000 - 21P and supply curve is S = 15000 + 9P, find the equilibrium Quantity?

A) 12000 units B) 6000 units
C) 24000 units D) 30000 units
 
Answer & Explanation Answer: C) 24000 units

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Q:

Transport comes under which sector of economic growth?

A) Secondary sector B) Primary sector
C) Tertiary sector D) Quaternary sector
 
Answer & Explanation Answer: C) Tertiary sector

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Q:

If price of an article decreases from Rs. 12 to Rs. 10, quantity demanded increases from 1000 units to 1400 units. Find point elasticity of demand?

A) 2.4 B) -2
C) -2.4 D) 2
 
Answer & Explanation Answer: C) -2.4

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Exam Prep: AIEEE , Bank Exams , CAT

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Q:

Economic Survey of India is published by

A) Chief Economic Adviser B) Finance Ministry
C) Home Ministry D) External Affairs
 
Answer & Explanation Answer: B) Finance Ministry

Explanation:
  • The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget.

 

  • It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.

 

  • It is the ministry's view on the annual economic development of the country.
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