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 Indian Economy Questions

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Q:

Match the characteristics with their market structure:

(a) Difficult entry (often due to economies of scale)
(b) Can sell as much as it can at market price

A) (a) Monopolistic Competition, (b) Pure Monopoly B) (a) Pure Monopoly, (b) Oligopoly
C) (a) Oligopoly, (b) Pure Competition D) (a) Pure Competition, (b) Oligopoly
 
Answer & Explanation Answer: C) (a) Oligopoly, (b) Pure Competition

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Exam Prep: Bank Exams

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Q:

Which  of  the  following  statements  about Bitcoin is/are correct?

1.It is a decentralized virtual currency.

2.It    is    generated    through    complex computer software systems.

3.The  Reserve  Bank  of  India  recognized it as a legal tender in January 2016.

Select  the  correct  answer  using  the  code given below.

A) 1 only B) 1 and 2 only
C) 2 and 3 only D) 1, 2 and 3
 
Answer & Explanation Answer: B) 1 and 2 only

Explanation:

Bitcoin is the world's first cryptocurrency,    a    form    of electronic   cash.It   is   the    first decentralized digital  currency:  the system   was   designed   to   work without   acentral   bankor   single administrator.Bitcoins    are    sent from  user  to  user  on  the peer-to-peer bitcoin network directly, without the need for intermediaries.  These  transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a block chain. Bitcoin was invented by an unknown person or group of people   using   the   name Satoshi Nakamoto. Bitcoins are not recognised  as  a  legal  tender  by Reserve Bank of India. 

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Q:

During which decade did the population of India record a negative growth rate 

A) 1911 - 21 B) 1921 - 31
C) 1931 - 41 D) 1941 -51
 
Answer & Explanation Answer: A) 1911 - 21

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Q:

Brent Index is associated with which of the followings?

 

A) crude oil prices   B) copper future prices  
C) gold future prices D) shipping rate index
 
Answer & Explanation Answer: A) crude oil prices  

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Q:

Match the characteristics with their market structure:

(a) MC = Price
(b) Firm will tend to set output so that it earns maximum profits.

A) (a) Pure Competition, (b) Pure Monopoly B) (a) Pure Monopoly, (b) Monopolistic Competition
C) (a) Oligopoly, (b) Monopolistic Competition D) (a) Pure Competition, (b) Oligopoly
 
Answer & Explanation Answer: A) (a) Pure Competition, (b) Pure Monopoly

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Q:

Match the characteristics with their market structure:

(a) MR = MP
(b) Elasticity of demand depends on pricing policies of rivals

 

A) (a) Pure Monopoly, (b) Monopolistic competition B) (a) Pure competition, (b) Oligopoly
C) (a) Pure competition, (b) Pure Monopoly D) (a) Pure Monopoly, (b) Oligopoly
 
Answer & Explanation Answer: B) (a) Pure competition, (b) Oligopoly

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Q:

Match the characteristics with their market structure:

(a) Differentiated products, but close substitutes for consumers so their demand curves are elastic
(b) Homogeneous product, all goods are perfect substitutes for consumers

A) (a) Monopolistic Competition, (b) Pure Competition B) (a) Monopolistic Competition, (b) Pure Monopoly
C) (a) Pure Monopoly, (b) Pure Competition D) (a) Pure Monopoly, (b) Pure Competition
 
Answer & Explanation Answer: A) (a) Monopolistic Competition, (b) Pure Competition

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Q:

Which of the following policies of the financial sectors is basically designed to transfer local financial assets into foreign financial assets freely and at market determined exchange rates?

A) Capital Account Convertibility B) Financial Deficit Management
C) Mimimum Support Price D) Restrictive Trade Practices
 
Answer & Explanation Answer: A) Capital Account Convertibility

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