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 Indian Economy Questions

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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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Q:

Which taxes are included in GST?

A) Taxes on lottery B) Sales/VAT tax
C) Both A & B D) None of the above
 
Answer & Explanation Answer: C) Both A & B

Explanation:
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1 1718
Q:

An increase in demand means that

A) the demand curve shifts to the right B) consumers desire a greater quantity
C) Both A & B D) None of the above
 
Answer & Explanation Answer: C) Both A & B

Explanation:

An increase in demand means that the demand curve shifts to the right, and hence quantity demanded will be high at each price.

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1 1712
Q:

Microeconomics is concerned with issues such as

A) inflation B) interest rates
C) unemployment D) which job to take
 
Answer & Explanation Answer: C) unemployment

Explanation:
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Q:

India was ranked at which place among emerging economies on Inclusive Development Index (IDI-2018) released by World Economic Forum (WEF)?

 

A) 26th B) 47th
C) 62nd D) 81st
 
Answer & Explanation Answer: C) 62nd

Explanation:
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2 1703
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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Q:

Taxes cannot be levied by the union government in India -

A) Tax on professions B) Service tax
C) Income tax D) All of the above
 
Answer & Explanation Answer: A) Tax on professions

Explanation:

Tax on professions cannot be levied by the union government in India.

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8 1646
Q:

Deficit financing implies

A) replacing new currency with worn out currency B) public revenue in excess of public expenditure
C) printing new currency notes D) public expenditure in excess of public revenue
 
Answer & Explanation Answer: D) public expenditure in excess of public revenue

Explanation:

Deficit financing implies public expenditure in excess of public revenue.

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