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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:

Reema wants to buy a certain designer party dress. The shop is offering a discount of 20% on that dress which is marked at Rs 5000. If Reema was willing to pay even Rs 7000 for that dress, Reema's consumer surplus is

A) Rs 3000 B) Rs 2000
C) Rs 1000 D) Rs 7000
 
Answer & Explanation Answer: A) Rs 3000

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0 585
Q:

Match the characteristics with their market structure:

(a) MC = Price
(b) Firm will tend to set output so that it earns maximum profits.

A) (a) Pure Competition, (b) Pure Monopoly B) (a) Pure Monopoly, (b) Monopolistic Competition
C) (a) Oligopoly, (b) Monopolistic Competition D) (a) Pure Competition, (b) Oligopoly
 
Answer & Explanation Answer: A) (a) Pure Competition, (b) Pure Monopoly

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0 8563
Q:

If demand curve for racing cycles is D = 80200 ­ 13P and supply curve is S = 6200 + 12P, What is the equilibrium Quantity?

A) 2960 units B) 31220 units
C) 8750 units D) 41720 units
 
Answer & Explanation Answer: D) 41720 units

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Q:

_______________________ is the unemployment which exists in any economy due to people being in the process of moving from one job to another.

A) Seasonal unemployment B) Cyclical unemployment
C) Frictional unemployment D) Structural unemployment
 
Answer & Explanation Answer: C) Frictional unemployment

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0 601
Q:

If hiring an extra worker increases a brick making unit's output from 2000 to 2250 units per day, but the factory has to reduce the price of its brick from Rs 15 to Rs 14 per brick to sell the additional output, the marginal revenue product of the last worker is

A) Rs 1500 B) Rs 250
C) Rs 3000 D) Rs 100
 
Answer & Explanation Answer: A) Rs 1500

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0 541
Q:

Which of the following statements is incorrect, if resources were unlimited?

A) there would still be scarcity and opportunity costs B) there would still be scarcity but no opportunity costs
C) there would be no scarcity, but there would be opportunity costs. D) there would neither be scarcity nor opportunity costs
 
Answer & Explanation Answer: C) there would be no scarcity, but there would be opportunity costs.

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0 514
Q:

If demand curve for racing cycles is D = 59600 - 6P and supply curve is S = 29600 + 4P, find the equilibrium Quantity?

A) 118000 B) 300
C) 41600 D) 6000
 
Answer & Explanation Answer: C) 41600

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1 722
Q:

Match the characteristics with their market structure:

(a) Difficult entry (often due to economies of scale)
(b) Can sell as much as it can at market price

A) (a) Monopolistic Competition, (b) Pure Monopoly B) (a) Pure Monopoly, (b) Oligopoly
C) (a) Oligopoly, (b) Pure Competition D) (a) Pure Competition, (b) Oligopoly
 
Answer & Explanation Answer: C) (a) Oligopoly, (b) Pure Competition

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