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 Indian Economy Questions

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Q:

Stagflation is a period of _______.

A) Persistent high inflation combined with high unemployment B) Persistent high inflation combined with low unemployment
C) Persistent low inflation combined with high unemployment D) Persistent low inflation combined with low unemployment
 
Answer & Explanation Answer: A) Persistent high inflation combined with high unemployment

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Q:

Name the first Indian to get Nobel prize in economics.

A) Amartya Sen B) C V Raman
C) Mihir Sen D) Arun Shourie
 
Answer & Explanation Answer: A) Amartya Sen

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Q:

An increase in expected future income will

A) Decrease aggregate demand and aggregate supply B) Increase aggregate demand and aggregate supply
C) Increase aggregate demand D) Increase aggregate supply
 
Answer & Explanation Answer: C) Increase aggregate demand

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Q:

Fixed Foreign Exchange Rate can be changed by

A) RBI B) SEBI
C) Ministry of Finance D) FIPB
 
Answer & Explanation Answer: A) RBI

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Q:

 Government has announced to fix MSP at a level of at least ________________ per cent of the cost of production for kharif crops 2018-19 which redeems the promise made in the Union Budget for 2018-19. 

A) 50 per cent  B) 250 per cent 
C) 200 per cent  D) 100 per cent 
 
Answer & Explanation Answer:

Explanation:

Government has announced its historic decision on 04.07.2018 to fix MSP at a level of at least 150 per cent of the cost of production for kharif crops 2018-19 which redeems the promise made in the Union Budget for 2018-19.The MSPs fixed by Government, cost and returns over all-India weighted average cost of production of crops for 2017-18 and 2018-19 is at Annexure.Cost of production varies in different states on account of difference in levels of irrigation, resource endowment, farm mechanization, land holding size, yield of crops etc. 

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Exam Prep: Bank Exams , CAT

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Q:

Goods which are consumed together are called?

A) Inferior goods B) Normal goods
C) Complementary goods D) Substitute goods
 
Answer & Explanation Answer: C) Complementary goods

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Q:

__________ of an input is defined as the change in output per unit of change in the input when all other inputs are held constant.

A) Marginal product B) Production function
C) Total product D) Average product
 
Answer & Explanation Answer: A) Marginal product

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Q:

The basis of determining dearness allowance to employees in India is ____________

A) National Income B) Consumer Price Index
C) Standard of Living D) Inflation Rate
 
Answer & Explanation Answer: B) Consumer Price Index

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