Indian Economy Questions

Q:

When there is only one buyer and one seller of product, it is called _____ situation.

A) Public monopoly B) Bilateral monopoly
C) Franchised monopoly D) Monopsony
 
Answer & Explanation Answer: B) Bilateral monopoly

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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:

Which among the following does not count in the development expenditure of government?

A) Expenditure on economic services B) Expenditure on social services
C) Grant to states D) Defence expenditure
 
Answer & Explanation Answer: D) Defence expenditure

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Q:

If price of an article decreases from Rs P1 to Rs 75, quantity demanded increases from 1000 units to 1200 units. If point elasticity of demand is ­3.2 findmP1?

A) Rs 85 B) Rs 80
C) D) Rs 95
 
Answer & Explanation Answer: B) Rs 80

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Q:

If demand curve for racing cycles is D = 80200 ­ 13P and supply curve is S = 6200 + 12P, What is the equilibrium Quantity?

A) 2960 units B) 31220 units
C) 8750 units D) 41720 units
 
Answer & Explanation Answer: D) 41720 units

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Q:

Which of the following CANNOT be called a Debt instrument as referred in financial transactions?

A) Certificate of Deposits B) Bonds
C) Stocks D) Commercial Papers
 
Answer & Explanation Answer: C) Stocks

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Q:

The marginal propensity to consume lies between ____________.

A) 0 to Infinity B) 0 to 1
C) 1 to Infinity D) 0 to 10
 
Answer & Explanation Answer: B) 0 to 1

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Q:

Which is the parameter for the economic development ?

A) Per capita monetary income B) National income
C) Per capita rural income D) Population
 
Answer & Explanation Answer: A) Per capita monetary income

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