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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
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Short run marginal cost curve cuts the short run average cost curve from _______ at the minimum point of short run average cost.

A) top B) below
C) right D) left
 
Answer & Explanation Answer: B) below

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Q:

The demand for a normal good decreases with ________ in the consumer's income.

A) increase B) decrease
C) constant D) double
 
Answer & Explanation Answer: B) decrease

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Q:

The relation between the consumer’s optimal choice of the quantity of a good and its price is very important and this relation is called the ________ function.

A) Price B) Substitution
C) Supply D) Demand
 
Answer & Explanation Answer: D) Demand

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Q:

The ________ balance is the sum of the balance of merchandise trade, services and net transfers received from the rest of the world.

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

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Q:

‘Capital gains’ refers to goods which

A) serve as a source of raising further capital B) help in the further production of goods
C) directly go into the satisfaction of human wants D) find multiple uses
 
Answer & Explanation Answer: B) help in the further production of goods

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1 618
Q:

Lorenz curve shows

A) Inflation B) Unemployment
C) Income distribution D) Poverty
 
Answer & Explanation Answer: C) Income distribution

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Q:

Bilateral monopoly situation is

A) when there are only two sellers of a product B) when there are only two buyers of a product
C) when there is only one buyer and one seller of a product D) when there are two buyers and two sellers of a product
 
Answer & Explanation Answer: C) when there is only one buyer and one seller of a product

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Q:

The term 'Dumping' refers to

A) The sale of a sub­standard commodity B) Sale in a foreign market of a commodity at a price below marginal cost
C) Sale in a foreign market of a commodity just at marginal cost with too much of profit D) Smuggling of goods without paying any customs duty
 
Answer & Explanation Answer: B) Sale in a foreign market of a commodity at a price below marginal cost

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