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 Indian Economy Questions

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Q:

The agricultural price support program is an example of ___________.

 

A) a price ceiling B) a price floor
C) equilibrium pricing D) No option is correct
 
Answer & Explanation Answer: B) a price floor

Explanation:
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Q:

The implementation of Jawahar Rojgar Yojana rests with

A) Gram Panchayat B) District Collector
C) State Government D) Union Government
 
Answer & Explanation Answer: A) Gram Panchayat

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29 17337
Q:

In India, planned economy is based on

A) Mixed Economy System B) Capitalist System
C) Gandhian System D) Socialist System
 
Answer & Explanation Answer: D) Socialist System

Explanation:

In_India,_planned_economy_is_based_on1556278122.jpg image

 

In India, planned economy is based on Socialist System.

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30 16906
Q:

The annual percentage rate on a credit card determines

 

A) The amount of money you still owe to the credit card company B) Money you withdrawn from the credit card
C) Total transactions done throughout the year D) The amount of interest you are charged on credit card purchases
 
Answer & Explanation Answer: D) The amount of interest you are charged on credit card purchases

Explanation:

The annual percentage rate (APR) on a credit card determines the amount of interest you are charged on credit card purchases.

 

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Q:

The prices at which the government purchases food grains for maintaining the Public Distribution system (PDS) and for building up buffer - stock is known as :

A) minimum support prices B) procurement prices
C) issue prices D) ceiling prices
 
Answer & Explanation Answer: B) procurement prices

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26 16662
Q:

Which of these is the best description of fixed expenses?

 

A) Insurance B) Payment on loans
C) Rent D) All the above
 
Answer & Explanation Answer: D) All the above

Explanation:

Fixed expenses are those expenses that do not change when there is a change in production or sales level.

 

Examples of Fixed Expenses are rent, insurance, payment on loans, salaries, advertising, etc...

 

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Q:

An increase in productivity will

 

A) Increase aggregate supply B) Increase in price level
C) Increase in demand D) All the above
 
Answer & Explanation Answer: A) Increase aggregate supply

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Q:

Generally unemployment in a developing country takes place because of ___________.

 

A) lack of complementary factors of production B) seasonal factors
C) lack of effective demand D) switch over from one job to another
 
Answer & Explanation Answer: A) lack of complementary factors of production

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