760+ Indian Economy Quiz Questions and Answers with Explanation

Q:

Disguised unemployment generally means___________.

A) Large number of people remain unemployed	B) alternative employment is NOT available
C) marginal productivity of labour is zero	D) productivity of workers is low

Answer & Explanation Answer: C) marginal productivity of labour is zero

Explanation:

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0 1451

Q:

The demand curve shows the relationship between

A) good price and the service	B) quantity demanded and the price of the good
C) quality and quantity of the good	D) quality and price of the good

Answer & Explanation Answer: B) quantity demanded and the price of the good

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0 1436

Q:

The law of supply indicates that, other things equal

A) sellers will offer more of a product at low prices than at high prices.	B) buyers will purchase less of a good at high prices than at low prices.
C) Sellers will offer more of a product at high prices than at low prices.	D) the product supply curve is downward sloping.

Answer & Explanation Answer: C) Sellers will offer more of a product at high prices than at low prices.

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1 1433

Q:

Which of the following is classified as working capital?

A) currents assets	B) current liabilities
C) Both A & B	D) current assets - current liabities

Answer & Explanation Answer: D) current assets - current liabities

Explanation:

Working capital, also known as net working capital, is the difference between a company’s current assets, like cash, accounts receivable and inventories of raw materials and finished goods, and its current liabilities, like accounts payable.

Working Capital = Current Assets - Current Liabilities

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0 1428

Q:

Increasing marginal cost of production explains

A) the income effect.	B) why the supply curve is upsloping.
C) why the demand curve is downsloping	D) the law of demand.

Answer & Explanation Answer: B) why the supply curve is upsloping.

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0 1427

Q:

A decrease in the price level will

A) result in a movement downward along the aggregate demand curve	B) shift the aggregate demand curve to the right
C) result in a movement upward along the aggregate demand curve	D) shift the aggregate demand curve to the left

Answer & Explanation Answer: A) result in a movement downward along the aggregate demand curve

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1 1426

Q:

Sales commissions are classified as

A) period costs	B) indirect labor
C) overhead costs	D) product costs

Answer & Explanation Answer: D) product costs

Explanation:

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3 1401

Q:

On January 3, 2018, RBI initiated ‘PCA’ against the Allahabad Bank. How many public sector banks have been covered under ‘PCA’?

A) 18	B) 17
C) 11	D) 15

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