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 Indian Economy Questions

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Q:

Medium term loans are provided for a period of _____.

A) 1 year to 2 years B) 15 months to 3 years
C) 15 months to 4 years D) 1 year to 3 years
 
Answer & Explanation Answer: D) 1 year to 3 years

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Exam Prep: Bank Exams

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Q:

Economic costs of production differ from accounting costs in that

Answer

Economic costs add the opportunity costs of a firm using its own resources while accounting costs do not.

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Subject: Indian Economy Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

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Q:

Inflation is a situation characterised by

A) Too much money chasing too few goods B) Too few money chasing too much goods
C) Too many people chasing too few goods D) Too many people chasing too little money
 
Answer & Explanation Answer: A) Too much money chasing too few goods

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Q:

If a budget is defeated in the legislature of a state then

A) The Finance Minister alone has to resign B) The Finance Minister concerned has to be suspended
C) The council of Ministers along with the Chief Minister has to resign D) Re­election have to be ordered
 
Answer & Explanation Answer: C) The council of Ministers along with the Chief Minister has to resign

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Q:

Economic Survey of India is published by

A) Chief Economic Adviser B) Finance Ministry
C) Home Ministry D) External Affairs
 
Answer & Explanation Answer: B) Finance Ministry

Explanation:
  • The Department of Economic Affairs, Finance Ministry of India presents the Economic Survey in the parliament every year, just before the Union Budget.

 

  • It is prepared under the guidance of the Chief Economic Adviser, Finance Ministry.

 

  • It is the ministry's view on the annual economic development of the country.
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Filed Under: Indian Economy
Exam Prep: AIEEE , Bank Exams , CAT
Job Role: Analyst , Bank Clerk , Bank PO

2 1228
Q:

The second Green Revolution aims at increasing agricultural output to promote

A) Availability of easy credit to big farmers B) Co-operative farming
C) Inclusive growth D) Development of rural sector
 
Answer & Explanation Answer: C) Inclusive growth

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Exam Prep: Bank Exams

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Q:

Unemployment that arises when there is a general downturn in business activity is known as

A) Structural unemployment B) Frictional unemployment
C) Cyclical unemployment D) Disguised unemployment
 
Answer & Explanation Answer: C) Cyclical unemployment

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Q:

Micro-economics is also called __________

A) Profit theory B) Loss theory
C) Price theory D) Expenditure theory
 
Answer & Explanation Answer: C) Price theory

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