Indian Economy Questions Practice Question and Answer
8 4 Q:
5dfca67c40c34473ac86cc32 4 Q:
5fe1db7ace32c8585c749764 4 Answer : 4. "explicit and implicit costs."
4 Q:
5d7f1667e6db8b0af6526c72 4 Q:
605c66a040a8e965941236f0 Answer : 3. "Reserve bank of India"
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5f48ce9ae7f09063e6307182 4 Q:
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Q: Which of the statements is correct about India's national income?
2289 05dfca67c40c34473ac86cc32
5dfca67c40c34473ac86cc32- 1Percentage share of agriculture is higher than servicesfalse
- 2Percentage share of industry is higher than agriculturefalse
- 3Percentage share of services is higher than industryfalse
- 4Percentage share of services is higher than agriculture and industry put togethertrue
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Answer : 4. "Percentage share of services is higher than agriculture and industry put together "
Q: Raw materials and money in hand are called _____.
2126 05fe1db7ace32c8585c749764
5fe1db7ace32c8585c749764- 1Human capitalfalse
- 2Working capitaltrue
- 3Factors of productionfalse
- 4None of the abovefalse
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Answer : 2. "Working capital"
Q: To the economist, total cost includes 2083 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: If Reserve Bank of India reduces the cash reserve ratio, it will :
2083 05d7f1667e6db8b0af6526c72
5d7f1667e6db8b0af6526c72- 1increase credit creationtrue
- 2decrease credit creationfalse
- 3have no impact on credit creationfalse
- 4have no definite impact on credit creationfalse
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Answer : 1. "increase credit creation"
Q: Who decides the Repo rate in India?
2030 0605c66a040a8e965941236f0
605c66a040a8e965941236f0- 1Government of Indiafalse
- 2Ministry of Financefalse
- 3Reserve bank of Indiatrue
- 4None of thesefalse
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Answer : 3. "Reserve bank of India"
Explanation :
The repo rate is the rate at which the Reserve Bank of India borrows funds from commercial banks in the country. It is the rate at which commercial banks in India park their excess money with the Reserve Bank of India, usually for the short term.
Q: Unemployment that arises when there is a general downturn in business activity is known as
1933 05f48ce9ae7f09063e6307182
5f48ce9ae7f09063e6307182- 1Structural unemploymentfalse
- 2Frictional unemploymentfalse
- 3Cyclical unemploymenttrue
- 4Disguised unemploymentfalse
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Answer : 3. "Cyclical unemployment "
Q: What does the Lorenz Curve indicate?
1920 05f4cb8bf82369c1d610dc8b5
5f4cb8bf82369c1d610dc8b5- 1Relationship between the price of a certain commodity and its demandfalse
- 2Income distributiontrue
- 3Rate of employmentfalse
- 4Taxable income elasticityfalse
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Answer : 2. "Income distribution"
Q: What kind of economy is there in India?
1917 05e37d5dfad02e21163c6353c
5e37d5dfad02e21163c6353c- 1socialistfalse
- 2Mixedtrue
- 3Freefalse
- 4Gandhianfalse
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Answer : 2. "Mixed"
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