Account and Finance Questions Practice Question and Answer
4 4 Q:
651293bb56a7b2508cb4db19 4 Q:
6511572f10a18f5082fb1afd Answer : 3. "The country will soon become poor if external trade will not happen"
4 Q:
6512a4d2af64a2609c621ce1 Answer : 3. "A teacher teaching his own daughter at home"
4 Q:
651158f156a7b2508cb0de7d Answer : 2. "Ratio less than 1"
Q: GDP at factor cost equals–
493 0651293bb56a7b2508cb4db19
651293bb56a7b2508cb4db19- 1GDP – Indirect Tax + Subsidytrue
- 2GNP – depreciationfalse
- 3NNP + depreciationfalse
- 4GDP – subsidy + indirect tax.false
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Answer : 1. "GDP – Indirect Tax + Subsidy"
Q: If a country produces consumer goods only and nothing else, then-
490 06511572f10a18f5082fb1afd
6511572f10a18f5082fb1afd- 1Standard of living will be highestfalse
- 2The country have certain amount of goodfalse
- 3The country will soon become poor if external trade will not happentrue
- 4The country will gradually become rich if external trade will not happenfalse
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Answer : 3. "The country will soon become poor if external trade will not happen"
Explanation :
If any country will produce only consumer good, then gradually the country will become poor as there will be no exchange of other goods and the economy of that country will highly be affected.
Q: Which of the following would not constitute an economic activity in Economics?
455 06512a4d2af64a2609c621ce1
6512a4d2af64a2609c621ce1- 1A teacher teaching students in his collegefalse
- 2A teacher teaching students in a coaching institutefalse
- 3A teacher teaching his own daughter at hometrue
- 4A teacher teaching students under Sarva Shiksha Abhiyan Schemefalse
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Answer : 3. "A teacher teaching his own daughter at home"
Explanation :
A teacher who is teaching his own daughter is not a part of economic activity as the imputed value of such activities can not be calculated.
Q: When increase in income the increase in ratio between income & expenditure changes–
450 0651158f156a7b2508cb0de7d
651158f156a7b2508cb0de7d- 1In same ratiofalse
- 2Ratio less than 1true
- 3Ratio more than onefalse
- 4Nonefalse
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Answer : 2. "Ratio less than 1"
Explanation :
Expl:- When increase in income the increase in ratio between income & expenditure changes Ratio less than 1
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