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 Indian Economy Questions

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Q:

The demand for labour is the same as the ___________.

 

A) marginal revenue product B) marginal physical product
C) marginal cost D) wage
 
Answer & Explanation Answer: A) marginal revenue product

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Q:

Which of the following policies of the financial sectors is basically designed to transfer local financial assets into foreign financial assets freely and at market determined exchange rates?

A) Capital Account Convertibility B) Financial Deficit Management
C) Mimimum Support Price D) Restrictive Trade Practices
 
Answer & Explanation Answer: A) Capital Account Convertibility

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Q:

What does cyclical unemployment mean?

 

A) Unemployment during recessionary phase of trade cycle B) Disguised unemployment
C) Seasonal unemployment D) Voluntary unemployment
 
Answer & Explanation Answer: A) Unemployment during recessionary phase of trade cycle

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Q:

For an inferior good demand falls when _________.

 

A) Piece rise   B) Price falls  
C) Income rise   D) Income falls  
 
Answer & Explanation Answer: C) Income rise  

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Q:

The agricultural price support program is an example of ___________.

 

A) a price ceiling B) a price floor
C) equilibrium pricing D) No option is correct
 
Answer & Explanation Answer: B) a price floor

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Q:

Which of the following is a characteristic of the monopolistic competition?

 

A) A large number of firms compete B) Each firm produces a differentiated product
C) Both answers A and B are correct D) Barriers to entry
 
Answer & Explanation Answer: C) Both answers A and B are correct

Explanation:

A large number of firms compete and Each firm produces a differentiated product is a characteristic of the market structure for monopolistic competition.

 

 

 

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Q:

Which of following sectors does NOT come under tertiary sector?

 

A) Electricity B) Business Services
C) Transport D) Trade
 
Answer & Explanation Answer: A) Electricity

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Q:

The sampling distribution of a statistic is

 

 

A) A normal curve, for which probabilities are obtained by standardizing.  B) A distribution of all possible summary statistics from a single random sample, from the same population.
C) A distribution of all parameters from the population that is to be randomly sampled. D) The mechanism that determines whether the random sampling was effective. 
 
Answer & Explanation Answer: A) A normal curve, for which probabilities are obtained by standardizing. 

Explanation:

The sampling distribution of a statistic is the distribution of the statistic for all possible samples from the same population of a given size.

 

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