Indian Economy Questions Practice Question and Answer
8 Q: When the price of a commodity falls, we can expect:
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5d944a1eeef89a492b2e290d- 1The supply of it to increasefalse
- 2The demand for it to fallfalse
- 3The demand for it to stay constantfalse
- 4The demand for it to increasetrue
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Answer : 4. "The demand for it to increase"
Q: What is the base year to calculate the National income in India?
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5ef433ca7c1ec61320b5d20d- 12004-05false
- 22010-11false
- 32014-15false
- 42011-12true
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Answer : 4. "2011-12"
Q: To the economist, total cost includes 1132 05b5cc604e4d2b4197774b4c4
5b5cc604e4d2b4197774b4c4- 1neither implicit nor explicit costs.false
- 2implicit, but not explicit, costs.false
- 3explicit, but not implicit, cost.false
- 4explicit and implicit costs.true
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Answer : 4. "explicit and implicit costs."
Explanation :
Answer: D) explicit and implicit costs. Explanation:
Q: The process of curing inflation by reducing money supply is called
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5df9ea1436644b47cbaf2b5e- 1Cost - push inflationfalse
- 2Demand - pull inflationfalse
- 3Disinflationtrue
- 4Reflationfalse
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Answer : 3. "Disinflation"
Q: Which of the following activities are examples of data gathering? 3318 05b5cc601e4d2b4197774b458
5b5cc601e4d2b4197774b458- 1Counting the votes in an election to determine the next governortrue
- 2Making a pie chart showing the kinds of television sets owned by people in a sample of 1,000false
- 3Finding the mean weight of cancer patients in a studyfalse
- 4Using the results of a mathematical model to predict the next day's weatherfalse
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Answer : 1. "Counting the votes in an election to determine the next governor"
Explanation :
Answer: A) Counting the votes in an election to determine the next governor Explanation: Option A) "Counting the votes in an election to determine the next governor" is the only one where data gathering is done. In all other options, data is already collected and now analyzing of data is going on.
Q: Short-term finance is usually for a period ranging up to
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5d42ab8757579c3e8f509307- 15 monthsfalse
- 210 monthsfalse
- 312 monthstrue
- 48 monthsfalse
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Answer : 3. "12 months "
Q: In a cut motion, when the amount of demand is reduced by Rs 100/- , it is known as
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5d7b8785268c0f29d590e05d- 1Disapproval of policy cutfalse
- 2Economy cutfalse
- 3Vote on Accountfalse
- 4Token cuttrue
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Answer : 4. "Token cut"
Q: How many member is in the GST Council of India?
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5e180c5e39d64c451b228e9c- 133true
- 234false
- 336false
- 427false
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