Indian Economy problems
- 1. Economic costs of production differ from accounting costs in that Also asked in: Analyst, Bank Clerk, Bank PO
Correct Answer: Economic costs add the opportunity costs of a firm using its own resources while accounting costs do not
- 2. The study of economics is primarily concerned with
Options- A. choices that are made in seeking to use scarce resources efficiently
- B. keeping private businesses from losing money
- C. demonstrating that capitalistic economies are superior to socialistic economies
- D. None of the above Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: choices that are made in seeking to use scarce resources efficiently
- 3. A pure market economy is sometimes called pure
Options- A. Capitalism
- B. Stocking
- C. Sharing
- D. Socialism Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: Capitalism
- 4. If depreciation exceeds gross investment
Options- A. the economy's stock of capital is growing
- B. the economy's stock of capital may be either growing or shrinking
- C. net investment is zero
- D. the economy's stock of capital is shrinking Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
Correct Answer: the economy's stock of capital is shrinking
- 5. Which is the first payment bank in India?
Options- A. Fino Payments Bank
- B. Airtel Payments Bank
- C. Aditya Birla Payments Bank
- D. Paytm Payments Bank Also asked in: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO
- Aditya Birla Payments Bank,
- Airtel Payments Bank,
- India Post Payments Bank,
- Fino Payments Bank,
- Jio Payments Bank (and)
- Paytm Payments Bank.
Correct Answer: Airtel Payments Bank
Explanation:
Airtel Payments Bank is the first payment bank in India. A payments bank is a new category of banks conceptualized by the Reserve Bank of India, which operates at a smaller scale than an actual bank and doesn't involve any credit risk. It can carry out most banking operations but can't advance loans or issue credit cards.
The RBI as of date has given licences to 11 payments bank of which six are currently operational. These include
- 6. Administered prices refer to Also asked in: Analyst, Bank Clerk, Bank PO
Correct Answer: Administered prices are prices set by government or firms which are not determined by regular market forces They do not vary in response to short-run fluctuations in demand and supply conditions Examples include price controls and rent controls
- 7. Which of the following is not true regard to Goods and Services Tax (GST) ?
Options- A. It will replace luxury tax
- B. It is a direct tax
- C. It will replace multiple taxes on a product or service
- D. It is an indirect tax Also asked in: Bank Exams
Correct Answer: It is a direct tax
- 8. Income and consumption are ___________.
Options- A. directly related
- B. partially related
- C. inversely related
- D. unrelated Also asked in: Bank Exams, GATE, Bank Clerk, Bank PO
Correct Answer: directly related
- 9. When was Consumer Protection Act (COPRA) passed?
Options- A. 1984
- B. 1980
- C. 1986
- D. 1995 Also asked in: Bank Exams, GATE, Bank Clerk, Bank PO
Correct Answer: 1986
- 10. If the rupee depreciates, how the exporters are affected?
Options- A. They are unaffected
- B. They are in loss
- C. They are in profit
- D. They get credit crunch Also asked in: Bank Exams
Correct Answer: They are in profit
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