Discussion
Home ‣ General Knowledge ‣ Indian Economy Comments
- Question
Which one of the following is not an instrument of credit control in India?
Options- A. Rationing of credit
- B. Direct Action
- C. Open Market operations
- D. Variable cost reserve ratios
- Correct Answer
- Variable cost reserve ratios
- 1. Which among the following is not an account under Balance of Payment?
Options- A. Current Account
- B. Capital Account
- C. Official Reserves Account
- D. Unilateral Payments Account Discuss
- 2. When there is only one buyer and one seller of product, it is called _____ situation.
Options- A. Public monopoly
- B. Bilateral monopoly
- C. Franchised monopoly
- D. Monopsony Discuss
- 3. Which one of the following is also regarded as Disguised unemployment?
Options- A. Underemployment
- B. Frictional unemployment
- C. Seasonal unemployment
- D. Cyclical unemployment Discuss
- 4. According to the law of diminishing marginal utility, as the amount of a good consumed increases, the marginal utility of that good tends to
Options- A. improve
- B. diminish
- C. remain constant
- D. first diminish and then improve Discuss
- 5. Consider the following statements about impact of tax : 1. A tax is shifted forward to consumers if the demand is inelastic relative to supply. 2. A tax is shifted backward to producers if the supply is relatively more inelastic than demand. Which of the statements given above is/are correct?
Options- A. 1 only
- B. 2 only
- C. Both 1 and 2
- D. Neither 1 nor 2 Discuss
- 6. Which among the following is an example of micro-economic variable?
Options- A. National Income
- B. Aggregate Supply
- C. Employment
- D. Consumer's Equilibrium Discuss
- 7. Which of the following taxes is levied by the State Government only?
Options- A. Wealth tax
- B. Entertainment tax
- C. Income tax
- D. Gift tax Discuss
- 8. HDI is an aggregate measure of progress in which of the three dimensions?
Options- A. Health, Education, Income
- B. Food Security, Employment, Income
- C. Agriculture, Industry, Services
- D. Height, Weight, Colour Discuss
- 9. Which of the following rate is charged by banks to their most credit worthy customers?
Options- A. Prime Lending Rate
- B. Statutory Liquidity Rate
- C. Bank Rate
- D. Repo Rate Discuss
- 10. Medium term loans are provided for a period of _____.
Options- A. 1 year to 2 years
- B. 15 months to 3 years
- C. 15 months to 4 years
- D. 1 year to 3 years Discuss
Indian Economy problems
Search Results
Correct Answer: Official Reserves Account
Correct Answer: Bilateral monopoly
Correct Answer: Underemployment
Correct Answer: diminish
Explanation:
Economists use the concept of marginal utility to measure happiness and pleasure and how that affects consumer decision making. They have also identified the law of diminishing marginal utility, which means that the first unit of consumption of a good or service has more utility than the next units of consumption.Hence, the marginal utility of the good diminishes as the amount of good consumed increases.
Correct Answer: Both 1 and 2
Explanation:
Only if either demand or supply was either completely elastic or inelastic will the tax burden fall entirely on either the buyer or the seller. Between these 2 extremes, tax incidence varies continuously from a perfectly inelastic supply or perfectly elastic demand, where the sellers assumes the entire burden of the tax to the perfectly elastic supply or perfectly inelastic demand where the buyers bear the entire burden. To better see how the elasticity of supply and demand affects tax incidence, consider a 20% tax on a can of soda. Suppose the government decides that the buyer should pay the 20% tax. Does this mean that the buyers will be paying 20% more, or will sellers have to share some of the tax burden? Since higher prices decrease demand, regardless of the reason for the higher prices, sellers will share some of the burden. How much of the burden will be determined by the elasticity of supply and demand for the product?
Correct Answer: Consumer's Equilibrium
Correct Answer: Entertainment tax
Correct Answer: Health, Education, Income
Correct Answer: Prime Lending Rate
Correct Answer: 1 year to 3 years
Comments
There are no comments.More in General Knowledge:
Programming
Copyright ©CuriousTab. All rights reserved.