Indian Economy problems
- 1. 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 Also asked in: Bank Exams
Correct Answer: 110
- 2. 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 Also asked in: Bank Exams
Correct Answer: Defence expenditure
- 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 Also asked in: Bank Exams
Correct Answer: Exports become cheaper and imports become costlier
- 4. 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 Also asked in: Bank Exams
Correct Answer: Economic development of a country
- 5. 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 Also asked in: Bank Exams
Correct Answer: Rs. 3800
- 6. 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 Also asked in: Bank Exams
Correct Answer: Gresham's law
- 7. Which of the following is a tertiary activity?
Options- A. Farming
- B. Manufacturing
- C. Dairying
- D. Trading Also asked in: Bank Exams
Correct Answer: Trading
- 8. 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 Also asked in: Bank Exams
Correct Answer: 1200 units
- 9. 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% Also asked in: Bank Exams
Correct Answer: 4.50%
- 10. 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 Also asked in: Bank Exams
Correct Answer: Giffen goods
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