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 Indian Economy Questions

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Q:

The largest component of GDP is

A) income B) wages
C) consumption D) imports
 
Answer & Explanation Answer: C) consumption

Explanation:

Consumption is the largest component of GDP.

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Q:

A sales tax is a type of

A) aggressive B) regressive
C) both A & B D) None of the above
 
Answer & Explanation Answer: B) regressive

Explanation:

Sales tax is an additional amount of money you pay based on a percentage of the selling price of goods and services that are purchased.

 

For example, if you purchase a new laptop Rs. 40000 and live in an area where the sales tax is 6%, you would pay Rs.2400 in sales tax.

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Q:

If depreciation exceeds gross investment

A) the economy's stock of capital is growing B) the economy's stock of capital may be either growing or shrinking
C) net investment is zero D) the economy's stock of capital is shrinking
 
Answer & Explanation Answer: D) the economy's stock of capital is shrinking

Explanation:
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Q:

Most electric, gas, and water companies are examples of

A) restricted-input monopolies B) sunk-cost monopolies
C) natural monopolies D) unregulated monopolies
 
Answer & Explanation Answer: C) natural monopolies

Explanation:

Most electric, gas, and water companies are examples of natural monopolies. Utilities like water, electricity and gas are essential services that play a vital role in economic and social development.

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Q:

The multiplier effect means that

Answer

The multiplier effect means that "An effect in economics in which an increase in spending produces an increase in national income and consumption greater than the initial amount spent."

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Subject: Indian Economy Exam Prep: AIEEE , Bank Exams , CAT
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1 1459
Q:

Fiscal policy is connected with

A) Public revenue & expenditure B) Exports and imports
C) Issue of currency D) Taxes
 
Answer & Explanation Answer: A) Public revenue & expenditure

Explanation:

Fiscal policy is connected with public revenue and expenditures. This policy is the use of government revenue collection to monitor the nation's economy.

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Q:

According to World Economic Forum Global Gender Gap Report 2017, Indian has closed ______ percentage of its gender gap.

A) 39 B) 67
C) 53 D) 91
 
Answer & Explanation Answer: B) 67

Explanation:
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Q:

A negative supply shock in the short run causes

A) the aggregate supply curve to shift to the left B) unemployment to fall
C) the aggregate supply curve to shift to the right D) the price level to fall
 
Answer & Explanation Answer: A) the aggregate supply curve to shift to the left

Explanation:

A negative supply shock in the sho rt run causes the aggregate supply curve to shift to the left.

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