Indian Economy Questions

Q:

What is a bank rate?

A) Rate at which Central bank of a country advances loans to other banks in the country B) Rate at which banks advance loans to the customers
C) Rate at which banks lend among themselves D) Rate at which banks lend to money lenders
 
Answer & Explanation Answer: A) Rate at which Central bank of a country advances loans to other banks in the country

Explanation:
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Q:

What does 'C' stands for 'CAGR', a business specific term for the geometric progression ratio that provides a constant rate over the specific time period?

A) Control B) Compound
C) Credit D) Call
 
Answer & Explanation Answer: B) Compound

Explanation:

CAGR stands for Compound Annual Growth Rate. So, C stands for Compound. Compound annual growth rate (CAGR) is a business and investing specific term for the geometric progression ratio that provides a constant rate of return over the time period.

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Q:

The 14th Finance Commission has recommended increase in States share in net proceeds from tax collection from 32% to

A) 35% B) 40%
C) 42% D) 45%
 
Answer & Explanation Answer: C) 42%

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Q:

In April 2017, N. K. Singh Committee recommended a fiscal deficit of how much percent of GDP by Financial Year 2022-23?

A) 2.50% B) 3.00%
C) 3.50% D) 4.00%
 
Answer & Explanation Answer: A) 2.50%

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Q:

If price of an article decreases from Rs. 25 to Rs. 20, quantity demanded increases from Q1 units to 1500 units. If point elasticity of demand is -1.25, find Q1?

A) 900 units B) 1200 units
C) 1800 units D) 2000 units
 
Answer & Explanation Answer: B) 1200 units

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Q:

When the demand for a good increases with an increase in income, such a good is called_______

A) Superior good B) Giffin good
C) Inferior good D) Normal good
 
Answer & Explanation Answer: A) Superior good

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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:

Economic sanctions are mainly used to

A) to help international trade run smoothly. B) punish nations that disobey international law
C) to impose tariffs on vehicles at the border D) all the above
 
Answer & Explanation Answer: B) punish nations that disobey international law

Explanation:

A sanction is a punishment imposed on another nation, or on individual natives of another nation.


Economic sanctions are characterized as the withdrawal of standard exchange and money related relations for outside and security strategy purposes. They might be extensive, denying business movement as to a whole nation,...

 

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