Indian Economy Questions

Q:

Urbanization and unsustainable development in India raised several environmental concerns but NOT one among the following.

A) Deforestation B) Soil degradation
C) Depletion of natural resources D) Erratic monsoon
 
Answer & Explanation Answer: D) Erratic monsoon

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1 1021
Q:

___________ is an alternative way of representing the production function.

A) The Short Run B) The Long Run
C) Isoquant D) Average product
 
Answer & Explanation Answer: C) Isoquant

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2 1020
Q:

The consumption and saving schedules reveal that the:

A) MPC and APC are equal at the point where the consumption schedule intersects the 45-degree line. B) MPC is equal to or greater than one at all income levels.
C) MPC is greater than zero, but less than one. D) APS is positive at all income levels.
 
Answer & Explanation Answer: C) MPC is greater than zero, but less than one.

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0 1019
Q:

If for a perfectly competitive firm, price is Rs 7.2, output is 4500 units, average variable costs are Rs 1.2, and average total costs are Rs 4. The firm's profits are equal to

A) Rs 7200 B) Rs 9000
C) Rs 14400 D) Rs 19800
 
Answer & Explanation Answer: C) Rs 14400

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0 1016
Q:

Recession is ___________.

A) reduction in production and employment for want of sufficient demand for goods B) rise in the cost of production, especially because of wage increase
C) increase in money supply without a matching increase in production D) No option is correct
 
Answer & Explanation Answer: A) reduction in production and employment for want of sufficient demand for goods

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1 1016
Q:

If the average total cost are Rs 2400, average variable cost is Rs 1700 and quantity produced is 75 units, find the total fixed costs of the firm?

A) Rs 52500 B) Rs 127500
C) Rs 180000 D) Rs 60000
 
Answer & Explanation Answer: A) Rs 52500

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0 1014
Q:

Which of the following brings out the 'Consumer Price Index Number' for Industrial workers?

A) RBI B) The Labour Bureau
C) Commerce Department D) NITI Ayog
 
Answer & Explanation Answer: B) The Labour Bureau

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0 1011
Q:

__________________ is a good whose quantity demanded decreases when consumer income rises.

A) Veblen good B) normal good
C) exclusive good D) inferior good
 
Answer & Explanation Answer: D) inferior good

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0 1007