Indian Economy Questions

Q:

If price of an article decreases from Rs 100 to Rs 80, when quantity demanded increases from Q1 units to 4600 units, and if point elasticity of demand is 0.75 find Q1?

A) 5000 units B) 4000 units
C) 3000 units D) 2000 units
 
Answer & Explanation Answer: B) 4000 units

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Q:

If the average total cost are Rs 54, average variable cost is Rs 36 and quantity produced is 2500 units, find the total fixed costs (in Rs) of the firm?

A) 30000 B) 15000
C) 45000 D) 60000
 
Answer & Explanation Answer: C) 45000

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Q:

Buyer’s market denotes the place where ___________.

A) the demand exceed the supply B) the supply exceed the demand
C) commodities are available at competitive rates D) the demand and supply are well balanced
 
Answer & Explanation Answer: A) the demand exceed the supply

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Q:

Which among the following is not a direct tax?

A) Income tax B) Wealth tax
C) Corporate tax D) None of these
 
Answer & Explanation Answer: D) None of these

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Q:

The short run average cost curve is ____ shaped.

A) U B) V
C) X D) W
 
Answer & Explanation Answer: A) U

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Q:

An economic system combining private and state enterprise is called as _____

A) Market economy B) Centrally planned economy
C) Private economy D) Mixed economy
 
Answer & Explanation Answer: D) Mixed economy

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Q:

Trickle down theory ignores the impact of economic growth on

A) Investment B) Savings
C) Income distribution D) consumption
 
Answer & Explanation Answer: C) Income distribution

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Q:

India has stated it aims to reduce the emissions intensity of its GDP by 33-35% by 2030 from 2005 levels and achieve _______________ of its cumulative electric power of around 350GW installed capacity from non-fossil fuel-based energy resources, mainly renewable power. 

A) 20% B) 40%
C) 50% D) 30%
 
Answer & Explanation Answer: B) 40%

Explanation:

India has said it aims to reduce the emissions intensity of its GDP by 33-35% by 2030 from 2005 levels and achieve 40% of its cumulative electric power of around 350GW installed capacity from non-fossil fuelbased energy resources, mainly renewable power. The statement comes ahead of the UN Framework Convention on Climate Change (UNFCCC) to be held in Paris in December 2015, where countries would try to forge a new global climate agreement based on “climate justice" and principles of equity and common but differentiated responsibilities and respective capabilities.

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