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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
Related Questions
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The greater is the marginal propensity to consume, the

A) lower is the price level B) smaller is the marginal propensity to save
C) lower is the average propensity to consume D) higher is the interest rate
 
Answer & Explanation Answer: B) smaller is the marginal propensity to save

Explanation:
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1 1889
Q:

Which taxes are included in GST?

A) Taxes on lottery B) Sales/VAT tax
C) Both A & B D) None of the above
 
Answer & Explanation Answer: C) Both A & B

Explanation:
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1 1332
Q:

Who is known as the father of Indian Economics?

A) Gopal Krishna Gokhale B) Bal Gangadhar Tilak
C) Adam Smith D) M G Ranade
 
Answer & Explanation Answer: C) Adam Smith

Explanation:

Mahadev Govind Ranade is known as the father of Indian Economics. M G Ranade advocated social reforms such as widow re-marriage, liberation of women & emancipation of the oppressed classes.

He was Known to be the mentor & political guru of Gopal Krishna Gokhale & Bal Gangadhar Tilak.

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10 4185
Q:

The largest expenditure component of GDP is

A) Consumption B) Net exports
C) Government spending D) Investments
 
Answer & Explanation Answer: A) Consumption

Explanation:
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1 1528
Q:

In national income accounting, government purchases include

A) Federal B) Local
C) State D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

In national income accounting, government purchases by Local, State and Federal governments.

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1 1866
Q:

"GDP price index" measures changes in the

A) Amount of resources available in the nation B) Value of final output produced in the nation
C) Cost of resources employed in the nation D) Prices of the output produced in the nation
 
Answer & Explanation Answer: B) Value of final output produced in the nation

Explanation:

"GDP price index" measures changes in the value of final output produced in the nation.

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0 1179
Q:

Which tax uses the same rate for all income levels?

A) Income tax B) Proportional tax
C) Both A & B D) Service tax
 
Answer & Explanation Answer: B) Proportional tax

Explanation:

Tax that uses the same rate for all income levels is proportional tax.

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1 1649
Q:

Production costs to an economist

A) reflect opportunity costs B) consist only of explicit costs
C) always reflect monetary outlays D) never reflect monetary outlays
 
Answer & Explanation Answer: A) reflect opportunity costs

Explanation:

Production costs to an economist reflect opportunity costs.

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