Indian Economy Questions

Q:

7 workers work in a printing press. Each gets paid Rs 450 per day. The 8th worker demands Rs 500 per day. If this worker is hired then all other workers must be paid Rs 500. The marginal resource (labour) cost of the 8th worker is _______.

A) Rs 50 B) Rs 850
C) Rs 400 D) Rs 100
 
Answer & Explanation Answer: B) Rs 850

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 822
Q:

__________ resources are those resources whose quantity is known.

A) Natural resources B) Actual resources
C) Potential resources D) Abiotic resources
 
Answer & Explanation Answer: B) Actual resources

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 822
Q:

First time which year the Railway Budget and the General Budget were presented separately?

A) 1923 B) 1947
C) 1952 D) 1977
 
Answer & Explanation Answer: A) 1923

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 822
Q:

If an unintended increase in business inventories occurs

A) aggregate expenditures must exceed the domestic output B) we can expect businesses to lower the level of production
C) we can expect aggregate production to be unaffected D) we can expect businesses to increase the level of production
 
Answer & Explanation Answer: B) we can expect businesses to lower the level of production

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 822
Q:

____________ is the relationship between the variable input and output, keeping all other inputs are held constant.

A) Total product B) Average product
C) Isoquant D) The Long Run
 
Answer & Explanation Answer: A) Total product

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 821
Q:

The account receivable turnover measures

A) How often, on average receivables are received and collected during the period B) How long it takes to sell accounts receivable to a factor
C) The relation of cash sales to credit sales D) How long it takes to sell merchandise inventory
 
Answer & Explanation Answer: A) How often, on average receivables are received and collected during the period

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 820
Q:

Stagflation is defined as

A) low inflation, low growth, low unemployment B) high inflation, low growth, high unemployment
C) high inflation, high growth, high unemployment D) low inflation, high growth, low unemployment
 
Answer & Explanation Answer: B) high inflation, low growth, high unemployment

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 817
Q:

In general, elasticity is a measure of

A) how firms' profits respond to changes in market prices.  B) the extent to which advances in technology are adopted by producers.
C) how much buyers and sellers respond to changes in market conditions. D) the extent to which a market is competitive. 
 
Answer & Explanation Answer: C) how much buyers and sellers respond to changes in market conditions.

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 816