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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:

In a centrally planned economy, the ____________ plans all the important activities in the economy.

A) Industrialists B) Citizens
C) Government D) Judiciary
 
Answer & Explanation Answer: C) Government

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Q:

The short run marginal cost curve is ____ shaped.

A) U B) V
C) X D) W
 
Answer & Explanation Answer: A) U

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Q:

If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the marginal revenue is zero.

A) Perfect Competition B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: B) Monopoly

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Q:

The average variable cost curve is ____ shaped.

A) U B) V
C) X D) W
 
Answer & Explanation Answer: A) U

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Q:

If the ___________ firm has zero costs or only has fixed cost, the quantity supplied in equilibrium is given by the point where the average revenue is zero.

A) Perfect Competition B) Monopoly
C) Oligopoly D) Monopolistic Competition
 
Answer & Explanation Answer: A) Perfect Competition

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Q:

If a consumer's demand for a good moves in the same direction as the consumer's income, the consumer's demand for that good must be inversely related to the price of the good is called __________.

A) Law of demand B) Law of supply
C) Law of substitution D) Law of optimal choice
 
Answer & Explanation Answer: A) Law of demand

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Q:

The _________ balance is equal to capital flows from the rest of the world, minus capital flows to the rest of the world.

A) Current Account B) Savings Account
C) Capital Account D) Asset Account
 
Answer & Explanation Answer: C) Capital Account

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Q:

__________ resources are those resources whose quantity is known.

A) Natural resources B) Actual resources
C) Potential resources D) Abiotic resources
 
Answer & Explanation Answer: B) Actual resources

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