Indian Economy Questions

Q:

A ___________ deficit is financed by net capital flows from the rest of the world, thus by a capital account surplus.

A) Current Account B) Savings Account
C) Capital Account D) Asset Account
 
Answer & Explanation Answer: A) Current Account

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Q:

The latest information about agriculture markets is collected and published by the ___________.

A) Food Corporation of India B) Directorate of Economics and Statistics
C) National Council of Applied Economic Research D) Indian Statistical Institute
 
Answer & Explanation Answer: B) Directorate of Economics and Statistics

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Q:

The term 'Macro Economics' was used by __________

A) J.M. Keynes B) Ragner Frisch
C) Ragner Nurkse D) Prof. Knight
 
Answer & Explanation Answer: B) Ragner Frisch

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Q:

In India all of the following are sources for government revenue, except?

A) Agricultural income tax B) Anti dumping duty
C) Perquisite tax D) Toll tax
 
Answer & Explanation Answer: A) Agricultural income tax

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Q:

Calculate the economic profit for a firm if its total revenues are Rs 180 crores, explicit costs are Rs 95 crores, and implicit costs are Rs 25 crores.

A) Rs 110 crores B) Rs 300 crores
C) Rs 60 crores D) Rs 250 crores
 
Answer & Explanation Answer: C) Rs 60 crores

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Q:

In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?

A) Food processing B) Petro-chemical
C) Chemicals other than fertilizers D) Telecommunications
 
Answer & Explanation Answer: D) Telecommunications

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Q:

If demand curve for racing cycles is D = 59600 - 6P and supply curve is S = 29600 + 4P, find the equilibrium Quantity?

A) 118000 B) 300
C) 41600 D) 6000
 
Answer & Explanation Answer: C) 41600

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Q:

HDI is an aggregate measure of progress in which of the three dimensions?

A) Health, Education, Income B) Food Security, Employment, Income
C) Agriculture, Industry, Services D) Height, Weight, Colour
 
Answer & Explanation Answer: A) Health, Education, Income

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