Indian Economy Questions

Q:

India was able to achieve the fiscal deficit target for the Financial Year 2016-17. It was how much percent of GDP?

A) 3.50% B) 4.20%
C) 3.00% D) 2.50%
 
Answer & Explanation Answer: A) 3.50%

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Q:

Management accountants would not

A) prepare reports primarily for external users. B) be concerned with the impact of cost and volume on profits
C) assist in budget planning. D) determine cost behavior.
 
Answer & Explanation Answer: A) prepare reports primarily for external users.

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Q:

The term 'Macro Economics' was used by __________

A) J.M. Keynes B) Ragner Frisch
C) Ragner Nurkse D) Prof. Knight
 
Answer & Explanation Answer: B) Ragner Frisch

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Q:

In 2015 the nominal rate of interest in country was 6%, and the inflation rate then was 1.5%. So real rate of interest in 2015 was

A) 7.50% B) 4.50%
C) 4% D) 0.25%
 
Answer & Explanation Answer: B) 4.50%

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Q:

In India, how much percent of GDP is the fiscal deficit target for the Financial Year 2017-18?

A) 4.20% B) 3.20%
C) 2.20% D) 4.00%
 
Answer & Explanation Answer: B) 3.20%

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Q:

Which would most likely increase aggregate supply?

A) A decrease in net exports B) A decrease in business subsidies
C) An increase in productivity D) An increase in the prices of imported products
 
Answer & Explanation Answer: D) An increase in the prices of imported products

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Q:

Long run growth in GDP is determined by

A) Capital stocks B) Labour force
C) Both 1 & 2 D) None
 
Answer & Explanation Answer: C) Both 1 & 2

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Q:

__________ is defined as the output per unit of variable input

A) Marginal product B) Production function
C) Total product D) Average product
 
Answer & Explanation Answer: D) Average product

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