Indian Economy Questions

Q:

A minimum wage _____.

A) is the price floor below which workers may not sell their labor B) is set at a price below the equilibrium wage
C) creates a price ceiling below which the wage cannot legally go D) decreases unemployment
 
Answer & Explanation Answer: A) is the price floor below which workers may not sell their labor

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1085
Q:

Which of the following best describes monetary policy?

A) Managing the economy by controlling the money supply B) Determining the design printed on the national currency
C) Regulating transactions in the currency exchange market D) Raising and lowering the foreign exchange rate
 
Answer & Explanation Answer: A) Managing the economy by controlling the money supply

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1084
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

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1083
Q:

__________ is defined as the output per unit of variable input

A) Marginal product B) Production function
C) Total product D) Average product
 
Answer & Explanation Answer: D) Average product

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1082
Q:

For the buying and selling of precious metals such as Goldand Silver, the market established is termed as ________ .

A) Capital Market B) Money Market
C) Bullion Market D) wholesale cash market
 
Answer & Explanation Answer: C) Bullion Market

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1081
Q:

In India all of the following are sources for government revenue, except?

A) Agricultural income tax B) Anti dumping duty
C) Perquisite tax D) Toll tax
 
Answer & Explanation Answer: A) Agricultural income tax

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1081
Q:

In general, elasticity is a measure of

A) how firms' profits respond to changes in market prices.  B) the extent to which advances in technology are adopted by producers.
C) how much buyers and sellers respond to changes in market conditions. D) the extent to which a market is competitive. 
 
Answer & Explanation Answer: C) how much buyers and sellers respond to changes in market conditions.

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1080
Q:

Backward bending supply curve belongs to which market?

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

Explanation:
Report Error

View Answer Report Error Discuss

Filed Under: Indian Economy
Exam Prep: Bank Exams

0 1079