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 Indian Economy Questions

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Q:

As per the data released by the Income­Tax Department in December 2017, how much percent of total population paid income tax in the assessment year 2015­16?

A) 1.7 B) 5.7
C) 9.7 D) 11.7
 
Answer & Explanation Answer: A) 1.7

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Q:

The determinants of aggregate supply -

A) Capital stock B) Wages
C) Technology D) All of the above
 
Answer & Explanation Answer: D) All of the above

Explanation:

Aggregate supply is the total supply of goods and services available to a particular market from producers.

Wages, Technology, Capital stock, Energy prices are the determinants of aggregate supply.

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Q:

Which of the following e-commerce majors has signed an agreement with NIESBUD for encouraging SMEs to grow profitably online?

A) Amazon B) Flipkart
C) Snapdeal D) eBay
 
Answer & Explanation Answer: A) Amazon

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Q:

From which of the following, is the GDP of a country not derived from?

A) Agricultural sector B) Industrial sector
C) International sector D) Service sector
 
Answer & Explanation Answer: C) International sector

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Q:

Backward bending supply curve belongs to which market?

A) Capital B) Labour
C) Money D) Inventories
 
Answer & Explanation Answer: C) Money

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Q:

Calculate a country's GDP if for the year, consumer spending is $400 million, government spending is $150 million, investment by businesses is $80 million, exports are $35 million and imports are $40 million.

A) $625 million B) $465 million
C) $475 million D) $635 million
 
Answer & Explanation Answer: A) $625 million

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Q:

Which level does macroeconomics focus on?

A) Government B) Business
C) Personal D) None
 
Answer & Explanation Answer: A) Government

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Q:

Which curve shows the inverse relationship between unemployment and inflation rates

A) Supply curve B) Indifference curve
C) IS curve D) Phillips curve
 
Answer & Explanation Answer: D) Phillips curve

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