Questions

Q:

The change in the optimal quantity of a good when its price changes and the consumer’s income is adjusted so that she can just buy the bundle that she was buying before the price change is called?

A) Law of demand B) Substitution effect
C) Problem of choice D) Optimal choice
 
Answer & Explanation Answer: B) Substitution effect

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Q:

In India, how much percent of GDP is the fiscal deficit target for the Financial Year 2017-18?

A) 4.20% B) 3.20%
C) 2.20% D) 4.00%
 
Answer & Explanation Answer: B) 3.20%

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Q:

A ___________ deficit is financed by net capital flows from the rest of the world, thus by a capital account surplus.

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

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Q:

What is an octroi ?

A) Tax B) Tax collection centre
C) Tax processing centre D) Tax information centre
 
Answer & Explanation Answer: A) Tax

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Q:

If a person's income increases from Rs. 10 lakhs per year to Rs. 11 lakhs per year and tax increases from Rs. 80,000 to Rs. 92,500 the marginal tax rate is

A) 12.50% B) 8%
C) 10% D) 15%
 
Answer & Explanation Answer: A) 12.50%

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Q:

The SLR is determined by the RBI. SLR stands for

A) States Leverage Return B) Savings Lease Rate
C) Statutory Liquidity Ratio D) Safe Legal Range
 
Answer & Explanation Answer: C) Statutory Liquidity Ratio

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Q:

An alloy is an example of

A) Colloidal solution B) Emulsion
C) Solid solution D) Heterogenous mixture
 
Answer & Explanation Answer: C) Solid solution

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Q:

Which of the following is not a constituent of biogas?

A) Carbon dioxide B) Hydrogen Sulphide
C) Methane D) Carbon Monoxide
 
Answer & Explanation Answer: A) Carbon dioxide

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