2
Q:

Which of the following should always be balanced in the foreign trade of India?

 

 

A) Balance of Trade B) Balance of Paymen
C) Balance of Current Account D) No option is correct

Answer:   B) Balance of Paymen



Explanation:
Subject: Indian Economy
Exam Prep: Bank Exams
Q:

GDP tends to overstate economic well-being because it takes into account

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Subject: Indian Economy Exam Prep: AIEEE , Bank Exams , CAT
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3 1947
Q:

For economists, the word "utility" means

A) pleasure and satisfaction B) purposefulness
C) versatility and flexibility D) rationality
 
Answer & Explanation Answer: A) pleasure and satisfaction

Explanation:
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1 1631
Q:

An improvement in technology would shift

A) the demand curve rightward B) the supply curve rightward
C) the supply curve leftward D) the demand curve leftward
 
Answer & Explanation Answer: B) the supply curve rightward

Explanation:

An improvement in technology would shift the supply curve rightward.

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1 1534
Q:

Globalization has the largest effect on

A) Politics B) Economy
C) Employment D) Business
 
Answer & Explanation Answer: B) Economy

Explanation:

Globalization has the largest effect on the economies. Globalisation is the process of interaction and integration between people, companies, and governments worldwide.

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1 1504
Q:

Trade blocs help countries by

A) competition B) economic integration
C) Increase in trade D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

A trade bloc is a type of intergovernmental agreement for a group of countries where barriers to trade are reduced or eliminated among the participating states and less competition and for economic integration.

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0 1316
Q:

National income accountants can avoid multiple counting by

A) subtracting NDP from GDP B) add exports, but subtract imports
C) only counting final goods D) None of the above
 
Answer & Explanation Answer: C) only counting final goods

Explanation:
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2 1463
Q:

The law of supply indicates that, other things equal

A) sellers will offer more of a product at low prices than at high prices. B) buyers will purchase less of a good at high prices than at low prices.
C) Sellers will offer more of a product at high prices than at low prices. D) the product supply curve is downward sloping.
 
Answer & Explanation Answer: C) Sellers will offer more of a product at high prices than at low prices.

Explanation:
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1 1388
Q:

Increasing marginal cost of production explains

A) the income effect. B) why the supply curve is upsloping.
C) why the demand curve is downsloping D) the law of demand.
 
Answer & Explanation Answer: B) why the supply curve is upsloping.

Explanation:
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0 1378