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- Question
If a person's income increases from Rs. 10 lakhs per year to Rs. 11 lakhs per year and tax increases from Rs. 80,000 to Rs. 92,500 the marginal tax rate is
Options- A. 12.50%
- B. 8%
- C. 10%
- D. 15%
- Correct Answer
- 12.50%
- 1. In a period when an economy is facing price rise, and along with that there is slowing down of economy activities, this is case of _________.
Options- A. Deflation
- B. Stagflation
- C. Recession
- D. Depression Discuss
- 2. A ceramic pottery unit hires 8 craftsmen by paying each of them Rs 900 per day. The 9th craftsman demands Rs 950 per day. If this craftsman is hired then all other craftsmen must be paid Rs 950. The marginal resource (labour) cost of the 9th craftsman is _________.
Options- A. Rs 1530
- B. Rs 1050
- C. Rs 50
- D. Rs 1350 Discuss
- 3. First time which year the Railway Budget and the General Budget were presented separately?
Options- A. 1923
- B. 1947
- C. 1952
- D. 1977 Discuss
- 4. Inflation exists when
Options- A. there is general increase in the prices over time.
- B. there are periodic decreases in the price level.
- C. there are continuous increases in the output level over time.
- D. there is rise in the purchasing value of money. Discuss
- 5. If price of an article decreases from Rs 100 to Rs 80, when quantity demanded increases from Q1 units to 4600 units, and if point elasticity of demand is 0.75 find Q1?
Options- A. 5000 units
- B. 4000 units
- C. 3000 units
- D. 2000 units Discuss
- 6. This tax is entirely borne by the entity it is levied upon and cannot be passed.
Options- A. Direct tax
- B. Indirect tax
- C. Straight tax
- D. Advance tax Discuss
- 7. If the fixed costs of a factory producing candles is Rs 20,000, selling price is Rs 30 per dozen candles and variable cost is Rs 1.5 per candle, what is the break-even quantity?
Options- A. 20000
- B. 10000
- C. 15000
- D. 12000 Discuss
- 8. The demand curve facing a perfectly competitive firm is
Options- A. downward sloping
- B. perfectly inelastic
- C. a concave curve
- D. perfectly elastic Discuss
- 9. Calculate the economic profit for a firm if it's total revenues are Rs. 35 crores, explicit costs are Rs. 7 crores, and implicit costs are Rs. 10 crores.
Options- A. Rs. 32 crores
- B. Rs. 52 crores
- C. Rs. 18 crores
- D. Rs. 38 crores Discuss
- 10. Name the first Indian to get Nobel prize in economics.
Options- A. Amartya Sen
- B. C V Raman
- C. Mihir Sen
- D. Arun Shourie Discuss
Indian Economy problems
Search Results
Correct Answer: Stagflation
Correct Answer: Rs 1350
Correct Answer: 1923
Correct Answer: there is general increase in the prices over time.
Correct Answer: 4000 units
Correct Answer: Direct tax
Correct Answer: 20000
Correct Answer: perfectly elastic
Correct Answer: Rs. 18 crores
Correct Answer: Amartya Sen
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