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 Indian Economy Questions

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Q:

Which of the following do economists consider to be capital?

A) a construction crane B) a savings account
C) a share of IBM stock D) a pair of stockings
 
Answer & Explanation Answer: A) a construction crane

Explanation:

In economics, there are four factors of production. They are :

1. Land

2. Labour

3. Capital

4. Organization

 

Here in the given options, a construction crane acts like capital.

 

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Q:

A binding price ceiling is designed to

A) keep prices low B) increase efficiency
C) increase the quality of the good D) prevent shortages
 
Answer & Explanation Answer: A) keep prices low

Explanation:
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Q:

National Income of India is compiled by

A) Finance Commission B) Indian Statistical Institute
C) National Development Council D) Central Statistical Organization
 
Answer & Explanation Answer: D) Central Statistical Organization

Explanation:
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Q:

Which among the following is not a direct tax?

A) Income tax B) Wealth tax
C) Corporate tax D) None of these
 
Answer & Explanation Answer: D) None of these

Explanation:
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Q:

Trickle down theory ignores the impact of economic growth on

A) Investment B) Savings
C) Income distribution D) consumption
 
Answer & Explanation Answer: C) Income distribution

Explanation:
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1 1069
Q:

Redistribution of income in a country can be brought about through

A) Progressive taxation combined with progressive expenditure B) Progressive taxation combined with regressive expenditure
C) Regressive taxation combined with regressive expenditure D) Regressive taxation combined with progressive expenditure
 
Answer & Explanation Answer: A) Progressive taxation combined with progressive expenditure

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Q:

If price of an article decreases from Rs 100 to Rs 80, when quantity demanded increases from Q1 units to 4600 units, and if point elasticity of demand is 0.75 find Q1?

A) 5000 units B) 4000 units
C) 3000 units D) 2000 units
 
Answer & Explanation Answer: B) 4000 units

Explanation:
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Q:

Income and consumption are ___________.

A) directly related B) partially related
C) inversely related D) unrelated
 
Answer & Explanation Answer: A) directly related

Explanation:
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