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 Indian Economy Questions

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Q:

The consumption schedule relates:

A) disposable income to domestic income. B) consumption to the level of disposable income.
C) consumption to saving. D) saving to the level of disposable income.
 
Answer & Explanation Answer: B) consumption to the level of disposable income.

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Q:

Which of the following is done at a Stock Exchange ?

A) Commodities are bought and sold at wholesale price B) Commodities are bought and sold at retail price
C) Securities are bought and sold D) None of these
 
Answer & Explanation Answer: C) Securities are bought and sold

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Q:

A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be

A) 3% B) 10%
C) 2.50% D) 7%
 
Answer & Explanation Answer: B) 10%

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Q:

The demand for a inferior good increases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: B) decrease

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Q:

What was the Gross Domestic Product (GDP) for India in 2016-17 Financial Year?

A) 6.10% B) 7.10%
C) 8.10% D) 6.70%
 
Answer & Explanation Answer: B) 7.10%

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Q:

In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?

A) Food processing B) Petro-chemical
C) Chemicals other than fertilizers D) Telecommunications
 
Answer & Explanation Answer: D) Telecommunications

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Q:

Which among the following is an example of micro-economic variable?

A) National Income B) Aggregate Supply
C) Employment D) Consumer's Equilibrium
 
Answer & Explanation Answer: D) Consumer's Equilibrium

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Q:

At the equilibrium price

A) quantity demanded is equal to quantity supplied B) quantity demanded is greater than quantity supplied
C) price elasticity of demand is unity D) elasticity of demand equals elasticity of supply
 
Answer & Explanation Answer: A) quantity demanded is equal to quantity supplied

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