Account and Finance Practice Question and Answer
8 Q: Goods whose demand is proportional to price are called
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62cd647031b6d201552ccc54- 1normal goodsfalse
- 2exclusive goodsfalse
- 3inferior goodsfalse
- 4Veblen goodstrue
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Answer : 4. "Veblen goods"
Q: Normally a bank does not have to deal with __________ related issues of the following.
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61b764257fd9195ddf2d9383- 1Payment and Settlement Systemfalse
- 2Contractual rights of creditorsfalse
- 3Intellectual Property Rightstrue
- 4Bankruptcy casesfalse
- 5Coordination among regulators operating in the banking financial sectorsfalse
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Answer : 3. "Intellectual Property Rights"
Q: National Income is also called as–
858 06513d59656a7b2508cb933bf
6513d59656a7b2508cb933bf- 1GNP at factor costfalse
- 2GNP at market pricefalse
- 3NNP at factor costfalse
- 4NNP at market pricetrue
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Answer : 4. "NNP at market price"
Explanation :
Initially NNPFC was known as National Income but Now NNPMP is known as National Income.
Q: Personal Income produced in a country is not included in–
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6512906b7cef9d502469a1c2- 1Production income from NDPfalse
- 2Net Production Income from foreign.false
- 3Transfer Income from governmentfalse
- 4Current Payment on Foreign loans.true
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Answer : 4. "Current Payment on Foreign loans."
Explanation :
The Current payment on foreign loans are not included in personal Income. In economics, personal income refers to an individual’s total earnings from wages, investment enterprises, and other ventures. It is the sum of all the incomes received by all the individuals or household during a given period.
Q: Match the characteristics with their market structure:
(a) Price > MC in both short and long run
(b) Faces highly elastic demand
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62de6fc9dc73b0303fb4f418- 1(a) Monopolistic competition, (b) Pure competitionfalse
- 2(a) Pure Monopoly, (b) Monopolistic competitiontrue
- 3(a) Pure competition, (b) Monopolistic competitionfalse
- 4(a) Oligopoly, (b) Pure competitionfalse
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Answer : 2. "(a) Pure Monopoly, (b) Monopolistic competition"
Q: IMF and World Bank are considered as such institutions
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61b74fb1993630653cf48536- 1Which strengthens international economic cooperation and helps in building a more stable and prosperous global economyfalse
- 2IMF promotes international monetary cooperation.false
- 3The World Bank promotes long-term economic growth and supports poverty reductionfalse
- 4All of the abovetrue
- 5None of the abovefalse
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Answer : 4. "All of the above"
Q: Which one of the following is not a method of measurement of National Income?
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6512a5dfea7f40961eb10778- 1Value Added Methodfalse
- 2Income Methodfalse
- 3Investment Methodtrue
- 4Expenditure Methodfalse
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Answer : 3. "Investment Method "
Explanation :
There are only three methods are using for calculating of national income i.e., value added method, income method and expenditure method.
Q: Which of the following is not correctly matched?
Bank Nationalization year
841 061b74e9a8fe2311103b0167e
61b74e9a8fe2311103b0167e- 1State Bank of Indore -1959false
- 2Allahabad Bank 1959true
- 3Andhra Bank -1980false
- 4Bank of Baroda -1969false
- 5None of the abovefalse
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