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 Indian Economy Questions

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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:

What is income available with a person after deducting for taxes called?

A) Disposable Income B) Cash Income
C) Salary D) General Income
 
Answer & Explanation Answer: A) Disposable Income

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Q:

HDI is an aggregate measure of progress in which of the three dimensions?

A) Health, Education, Income B) Food Security, Employment, Income
C) Agriculture, Industry, Services D) Height, Weight, Colour
 
Answer & Explanation Answer: A) Health, Education, Income

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Q:

The demand curve facing a perfectly competitive firm is

A) downward sloping B) perfectly inelastic
C) a concave curve D) perfectly elastic
 
Answer & Explanation Answer: D) perfectly elastic

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Q:

In which of the following market forms, a firm does not exercise control over price?

A) Monopoly B) Perfect competition
C) Oligopoly D) Monopolistic competition
 
Answer & Explanation Answer: B) Perfect competition

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Q:

Which of the following gulf countries has announced to form new economic and partnership group named 'Joint Cooperation Committee' inDecember 2017?

A) UAE and Saudi Arabia B) Qatar and UAE
C) Bahrain and Kuwait D) Oman and Saudi Arabia
 
Answer & Explanation Answer: A) UAE and Saudi Arabia

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Q:

First time which year the Railway Budget and the General Budget were presented separately?

A) 1923 B) 1947
C) 1952 D) 1977
 
Answer & Explanation Answer: A) 1923

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Q:

Expenses are recognized when

A) they are paid. B) they contribute to the production of revenue.
C) the invoice is received. D) they are billed by the supplier.
 
Answer & Explanation Answer: B) they contribute to the production of revenue.

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