Economics GK Practice Question and Answer
8 Q: Average Revenue means
1053 0638f0e92d319b37ca1812928
638f0e92d319b37ca1812928- 1the revenue per unit of commodity soldtrue
- 2the revenue from all commodities soldfalse
- 3the profit realised from the marginal unit soldfalse
- 4the profit realised by sale of all commoditiesfalse
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Answer : 1. "the revenue per unit of commodity sold"
Q: Assume that the exchange rate between the US Dollar and the Indian Rupee is $1 = ₹55. Now if this exchange rate increases to $1 = ₹60, then in this situation the Indian Rupee has depreciated against the US Dollar.
1051 0649aaa06dad6f2e01f6e1304
649aaa06dad6f2e01f6e1304- 1depreciatedtrue
- 2appreciatedfalse
- 3appreciatedfalse
- 4overvaluedfalse
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Answer : 1. "depreciated"
Explanation :
मान लीजिए कि अमेरिकी डॉलर और भारतीय रुपये के बीच विनिमय दर $1= ₹55 है। अब यदि यह विनिमय दर बढ़कर $1 = ₹60 हो जाती है, तो इस स्थिति में अमेरिकी डॉलर की तुलना में भारतीय रुपये का _______ हुआ है।
Q: What is considered to be knowledge, technical skill, education etc. in the economy?
1049 060d3141f64466567bd75545c
60d3141f64466567bd75545c- 1Tangible physical capitalfalse
- 2Working Capitalfalse
- 3Human Capitaltrue
- 4none of thesefalse
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Answer : 3. "Human Capital"
Q: The intervention of the government whether to expand demand or reduce it constitutes the ___________.
1009 0649aa4ff46047484bc6fa4b6
649aa4ff46047484bc6fa4b6- 1speculative functionfalse
- 2redistribution functionfalse
- 3stabilisation functiontrue
- 4transaction functionfalse
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Answer : 3. "stabilisation function"
Explanation :
1. Government intervention, whether to expand demand or to reduce it, is called stabilization function.
Q: Round Revolution in India was related to -
1007 0637f3e2d49a42a5ac162936c
637f3e2d49a42a5ac162936c- 1Potatotrue
- 2Onionfalse
- 3Oil seedsfalse
- 4Tomatofalse
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Answer : 1. "Potato "
Q: Which of the following is not a function of currency?
988 06088f5d5bdba7253ca28762e
6088f5d5bdba7253ca28762e- 1Measurement of valuefalse
- 2accumulation of valuefalse
- 3transfer of valuefalse
- 4stabilization of pricetrue
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Answer : 4. "stabilization of price"
Q: A type of unemployment in rural areas when people are not able to find jobs during some months of the year is called ______.
978 064242d0a9d18d2e8ae1754b3
64242d0a9d18d2e8ae1754b3- 1educated unemploymentfalse
- 2disguised unemploymentfalse
- 3frictional unemploymentfalse
- 4seasonal unemploymenttrue
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Answer : 4. "seasonal unemployment"
Q: Which of the following is an indirect tax?
978 064b5226e23047f4c71bfdc02
64b5226e23047f4c71bfdc02- 1Capital gains taxfalse
- 2Goods and services taxtrue
- 3Wealth taxfalse
- 4Gift taxfalse
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Answer : 2. "Goods and services tax "
Explanation :
1. Of the following, Goods and Services Tax is an indirect tax.
2. There are many types of indirect taxes, which include service tax, excise duty, customs duty and VAT.
3. GST has simplified the indirect tax system.