Bachelor of Arts in Economics (BA Economics)

Remittances made by NRIs to India in the context of national income accounting iscalled as

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Question:

Remittances made by NRIs to India in the context of national income accounting iscalled as

A.

remittance income

B.

nri income

C.

factor payments

D.

all of the above

Answer» c. factor payments

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Inflation occurs whenever

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Question:

Inflation occurs whenever

A.

the price level rises.

B.

the money supply increases.

C.

the price level rises continuously over a period of time.

D.

the price level falls continuously over a period of time.

Answer» c. the price level rises continuously over a period of time.

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Which is true of normal profits

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Question:

Which is true of normal profits

A.

they are necessary to keep a firm in the industry in the long run.

B.

they are zero under pure competition in the long run.

C.

they are excluded from a firm\s costs of production.

D.

they are greater than the opportunity cost to the firm.

Answer» a. they are necessary to keep a firm in the industry in the long run.

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Which of the following markets comes close to satisfying the assumptions of a perfectlycompetitive market structure?

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Question:

Which of the following markets comes close to satisfying the assumptions of a perfectlycompetitive market structure?

A.

The stock market

B.

The market for agricultural commodities such as wheat or corn

C.

The market for petroleum and natural gas

D.

All of the above come close to satisfying the assumptions of perfect competition

Answer» d. All of the above come close to satisfying the assumptions of perfect competition

Note: The above multiple-choice question is for all general and Competitive Exams in India. 

Given the supply of a commodity in the market period, the price of the commodity isdetermined by

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Question:

Given the supply of a commodity in the market period, the price of the commodity isdetermined by

A.

the market demand curve alone

B.

the market supply curve alone

C.

the market demand curve and the market supply curve

D.

none of the above.

Answer» a. the market demand curve alone

Note: The above multiple-choice question is for all general and Competitive Exams in India.