Indian Economy problems
- 1. First time which year the Railway Budget and the General Budget were presented separately?
Options- A. 1923
- B. 1947
- C. 1952
- D. 1977 Also asked in: Bank Exams
Correct Answer: 1923
- 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 Also asked in: Bank Exams
Correct Answer: Rs 1350
- 3. 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 Also asked in: Bank Exams
Correct Answer: Stagflation
- 4. 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% Also asked in: Bank Exams
Correct Answer: 12.50%
- 5. 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 Also asked in: Bank Exams
Correct Answer: Direct tax
- 6. 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 Also asked in: Bank Exams
Correct Answer: 20000
- 7. The demand curve facing a perfectly competitive firm is
Options- A. downward sloping
- B. perfectly inelastic
- C. a concave curve
- D. perfectly elastic Also asked in: Bank Exams
Correct Answer: perfectly elastic
- 8. 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 Also asked in: Bank Exams
Correct Answer: Rs. 18 crores
- 9. Name the first Indian to get Nobel prize in economics.
Options- A. Amartya Sen
- B. C V Raman
- C. Mihir Sen
- D. Arun Shourie Also asked in: Bank Exams
Correct Answer: Amartya Sen
- 10. In 2015, the real rate of interest in a country was 6% and the inflation rate then was 3%. So the nominal rate of interest in 2015 was
Options- A. 3%
- B. 6%
- C. 9%
- D. 12% Also asked in: Bank Exams
Correct Answer: 9%
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