Question:

In economic wealth is the stock of all those material and immaterial objects which………

A.

Are transferable

B.

Have utility

C.

Are scarce

D.

All the three

Answer» d. All the three

Question:

In a perfect competitive market price determines –

A.

What to buy

B.

What to produce

C.

Both

D.

None

Answer» c. Both

Question:

Which of the following function does money serve when used to measure the prices of different goodsand services?

A.

Store of value

B.

Medium of exchange

C.

Standard of value

D.

Display of power

Answer» c. Standard of value

Question:

Which of these would be classified as capital in economics

A.

Bhankra Dam

B.

Indira canal

C.

Golden triangle

D.

All the three

Answer» d. All the three

Question:

The demand curve of a Monopoly firm is –

A.

Same that of a firm in a perfect competition

B.

Same as that of the total market demand

C.

Non-exist

D.

Perfectly elastic

Answer» b. Same as that of the total market demand

Question:

…………… has excess production capacity in the long run

A.

Perfect competition market

B.

Monopolistic competition market

C.

Oligopolistic market

D.

None

Answer» b. Monopolistic competition market

Question:

Nationalization of Banks took place in

A.

July 1969

B.

February 1977

C.

Jan. 1960

D.

April 1989

Answer» a. July 1969

Question:

If we add……………. to net domestic production we get GDP

A.

Depreciation

B.

Direct tax

C.

Indirect tax

D.

Interest payment

Answer» a. Depreciation

Question:

Stock of both man made goods as well as natural resources like capital is called –

A.

National wealth

B.

National stock

C.

No less no gain level

D.

All the three

Answer» b. National stock

Question:

In question No. 386, the National Income will be

A.

`5000

B.

`6600

C.

`6000

D.

`5500

Answer» d. `5500