Indian Economy problems
- 1. GDP tends to overstate economic well-being because it takes into account Also asked in: Analyst, Bank Clerk, Bank PO
Correct Answer: GDP tends to overstate economic well-being because it takes into account social costs related to the consumption of products with adverse health effects
- 2. Economic growth is measured by
Options- A. % of GDP
- B. % of NDP
- C. % of expenditure
- D. % of percapita income Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: % of GDP
Explanation:
Economic growth is measured by the percentage of gross domestic product. GDP refers to the total value of goods and services produced in the country.
- 3. The goal of a command economy is to
Options- A. create equality within a society
- B. mixed-market
- C. Both A & B
- D. None of the above Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: create equality within a society
- 4. Economics involves marginal analysis because
Options- A. marginal benefits always exceed marginal costs
- B. much economic behavior is irrational
- C. most decisions involve changes from the present situation
- D. marginal costs always exceed marginal benefits Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: most decisions involve changes from the present situation
- 5. A master plan is devised for
Options- A. Long-range goals
- B. Emergencies
- C. Short-term goals
- D. Investments Also asked in: CAT, Bank Exams, Bank PO, Bank Clerk, Analyst
Correct Answer: Long-range goals
Explanation:
A master plan is devised for long-range goals.
- 6. A decline in disposable income means Also asked in: Analyst, Bank Clerk, Bank PO
Correct Answer: Disposable income is the amount of money that households have available for spending and saving after income taxes have been accounted for A decline in disposable income means a movement down along an economy's consumption schedule
- 7. Microeconomics is concerned with issues such as
Options- A. inflation
- B. interest rates
- C. unemployment
- D. which job to take Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: unemployment
- 8. Economics is the study of how society manages its
Options- A. Limited resources & limited wants
- B. Unlimited wants & unlimited resources
- C. Limited wants & unlimited resources
- D. Limited resources & unlimited wants Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: Limited wants & unlimited resources
Explanation:
Economics is the study of how society manages its scarce resources i.e, Limited wants & unlimited resources.
- 9. Economics deals primarily with the concept of
Options- A. Poverty
- B. Money
- C. Scarcity
- D. Banking Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: Scarcity
- 10. The term market in economics refers to Also asked in: Bank PO, Bank Clerk, Analyst
Correct Answer: The term market in economics refers to the place or arrangement where the buyers and sellers come to contact directly or indirectly for buying and selling goods Market refers to not a specific or particular place it is the place for commodities
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