Question: Capital in economics means A. Factor of production B. Fund brought in by the entrepreneur C. Investment in shares, bank deposits D. All the above Answer» a. Factor of production Note: The above multiple-choice question is for all general…
Question: If GDP exceeds GNP the possible reasons could be A. Foreigners are earning more in India than Indians are earning in foreign countries B. High incidence of plant and machinery wear out C. Indian are earning more in foreign…
Question: The basic assumption of an economic analysis is/ are A. Cetris paribus B. Rational behavior C. Both D. None Answer» c. Both Note: The above multiple-choice question is for all general and Competitive Exams in India.
Question: In a competitive market ………. is the price maker A. Firm B. Industry C. Consumer D. Trade association Answer» b. Industry Note: The above multiple-choice question is for all general and Competitive Exams in India.
Question: Which of these is an example of a transfer payment? A. Profit B. Retirement pension C. Rent D. Transportation and freight charges Answer» b. Retirement pension Note: The above multiple-choice question is for all general and Competitive Exams in…
Question: ……………… is an index of price change for goods and services included in GDP A. Price index B. Sensex C. GDP deflator D. None Answer» c. GDP deflator Note: The above multiple-choice question is for all general and Competitive…
Question: In a closed economy A. GDP=GNP B. GDP>GNP C. GDP<GNP D. All the three are possible Answer» a. GDP=GNP Note: The above multiple-choice question is for all general and Competitive Exams in India.
Question: If the country is passing through recession, the RBI would A. Buy bonds B. Reduce CRR C. Ease out bank rate D. All or any of the above three Answer» d. All or any of the above three Note:…
Question: In a pure monopoly firm a firm can make abnormal profit at the long run equilibrium level due to A. Price discrimination B. Cost effectiveness C. Banned entry of new firms D. Sales promotion Answer» c. Banned entry of…
Question: Which of the following function does money serve when used to purchase or sell different goods andservices? A. Store of value B. Medium of exchange C. Standard of value D. Display of power Answer» b. Medium of exchange Note:…