Indian Economy problems
- 1. 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 Also asked in: Bank Exams
Correct Answer: Deficit budgeting
- 2. Disguised unemployment in India is mainly related to
Options- A. Agricultural sector
- B. Rural Area
- C. Factory sector
- D. Urban Area Also asked in: Bank Exams
Correct Answer: Agricultural sector
- 3. The GST (Goods and Services Tax), recently passed by Government will be levied on which of the following products?
Options- A. Petroleum Crude
- B. Tobacco
- C. Natural Gas
- D. Aviation Turbine Fuel Also asked in: Bank Exams
Correct Answer: Tobacco
- 4. A manufacturer faces price elasticity of demand of a -2 for its product. If it lowers its price by 5%, the increase in quantity sold will be
Options- A. 3%
- B. 10%
- C. 2.50%
- D. 7% Also asked in: Bank Exams
Correct Answer: 10%
- 5. If cash reserve ratio decreases, credit creation will _______.
Options- A. increase
- B. decrease
- C. does not change
- D. first decreases than increases Also asked in: Bank Exams
Correct Answer: increase
- 6. If one more baker is hired the output of a bakery will increase from 1250 breads to 1400 breads per day, but then the bakery will have to reduce the price of the bread from Rs 15 to Rs 14 per unit to sell the additional output, the marginal revenue product of the last baker is _______.
Options- A. Rs 850
- B. Rs 150
- C. Rs 1960
- D. Rs 1875 Also asked in: Bank Exams
Correct Answer: Rs 850
- 7. If a perfectly competitive firm can increase its profits by increasing its output, then that firm's product's _____.
Options- A. price exceeds its marginal costs
- B. price exceeds its average total costs
- C. average variable costs exceed its average total costs
- D. fixed costs are zero Also asked in: Bank Exams
Correct Answer: price exceeds its marginal costs
- 8. 7 workers work in a printing press. Each gets paid Rs 450 per day. The 8th worker demands Rs 500 per day. If this worker is hired then all other workers must be paid Rs 500. The marginal resource (labour) cost of the 8th worker is _______.
Options- A. Rs 50
- B. Rs 850
- C. Rs 400
- D. Rs 100 Also asked in: Bank Exams
Correct Answer: Rs 850
- 9. An increase of 1% per annum in the rate of growth of the money supply will increase inflation in the long run by _______.
Options- A. Zero percent
- B. One percent
- C. 0.5 percent
- D. More than one percent Also asked in: Bank Exams
Correct Answer: One percent
- 10. If quantity of good X demanded increases from 2300 to 2700 when price of good Y increases from Rs. 45 to Rs. 55, find Arc Cross elasticity of demand?
Options- A. 4
- B. 1.25
- C. 0.25
- D. 0.8 Also asked in: Bank Exams
Correct Answer: 0.8
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