Discussion
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- Question
Which law states that bad money drives good money out of circulation?
Options- A. Wagner's law
- B. Grimm's law
- C. Gresham's law
- D. Keynes' law
- Correct Answer
- Gresham's law
- 1. If hiring an extra worker increases a factory's output from 1000 to 1200 units per day, but the factory has to reduce the price of its product from Rs. 25 to Rs. 24 per unit to sell the additional output, the marginal revenue product of the last worker is
Options- A. Rs. 3800
- B. Rs. 200
- C. Rs. 4000
- D. Rs. 100 Discuss
- 2. Sectoral distribution of GDP index measures_________
Options- A. Agriculture development of a country
- B. Economic development of a country
- C. Social development of a country
- D. SocioEconomic development of a country Discuss
- 3. If a country devalues its currency, its _______________
Options- A. Exports become cheaper and imports become costlier
- B. Exports become costlier and imports become cheaper.
- C. Exports value is equivalent to imports value
- D. No effect on exports and imports Discuss
- 4. Which among the following does not count in the development expenditure of government?
Options- A. Expenditure on economic services
- B. Expenditure on social services
- C. Grant to states
- D. Defence expenditure Discuss
- 5. Irfaan loves black coffee. A roadside stall selling a cup of black coffee at Rs. 120, offered 25% discount to Irfaan. If Irfaan was willing to pay even Rs. 200 for this cup of black coffee, Irfaan's consumer surplus is
Options- A. 90
- B. 80
- C. 30
- D. 110 Discuss
- 6. Which of the following is a tertiary activity?
Options- A. Farming
- B. Manufacturing
- C. Dairying
- D. Trading Discuss
- 7. If price of an article decreases from Rs. 25 to Rs. 20, quantity demanded increases from Q1 units to 1500 units. If point elasticity of demand is -1.25, find Q1?
Options- A. 900 units
- B. 1200 units
- C. 1800 units
- D. 2000 units Discuss
- 8. In 2015 the nominal rate of interest in country was 6%, and the inflation rate then was 1.5%. So real rate of interest in 2015 was
Options- A. 7.50%
- B. 4.50%
- C. 4%
- D. 0.25% Discuss
- 9. The goods which people consume more, when their price rises are called _______.
Options- A. Essential goods
- B. Capital goods
- C. Veblen goods
- D. Giffen goods Discuss
- 10. What situation would result if Government expenditure exceeds the Government revenue on Current Account?
Options- A. Deficit budgeting
- B. Zerobased budgeting
- C. Performancebased budgeting
- D. Surplus budgeting Discuss
Indian Economy problems
Search Results
Correct Answer: Rs. 3800
Correct Answer: Economic development of a country
Correct Answer: Exports become cheaper and imports become costlier
Correct Answer: Defence expenditure
Correct Answer: 110
Correct Answer: Trading
Correct Answer: 1200 units
Correct Answer: 4.50%
Correct Answer: Giffen goods
Correct Answer: Deficit budgeting
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