Description : Deflation is a state when (a) Prices are falling ; (b) Consistent increase in prices ; (c) Fall in GDP ; (d) Collapse of sensex
Last Answer : (a) Prices are falling ;
Description : Inflation refers to a fall in the value of money. Which of the following is the key measure of inflation in India? A. Consumer Price Index B. Wholesale Price Index C. Personal Consumption Expenditures Price Index D. GDP Deflator E. All of the above
Last Answer : B. Wholesale Price Index Explanation: Inflation rates in India are usually quoted as changes in the Wholesale Price Index, for all commodities. Many developing countries use changes in the Consumer Price Index (CPI) as their central measure of inflation.
Description : Which of these would not be part of GDP? (a) Sale of Intermediate goods ; (b) Income from illegal betting ; (c) Household services rendered by a house wife in her family ; (d) All the three
Last Answer : (d) All the three
Description : GDP can be defined as sum of the market value of the……….. (a) Final manufactured goods and services ; (b) Intermediate goods (c) Goods and services exported ; (d) Sub-standard goods and discarded services
Last Answer : (a) Final manufactured goods and services ;
Description : GDP is defined as (a) The market value of all goods and services produced in the domestic economy during the year ; (b) Current value of all the capital goods produced in the country. ; (c) ... during the year. ; (d) All the capital goods and consumable goods produced and sold during the year
Last Answer : (a) The market value of all goods and services produced in the domestic economy during the year ;
Description : Nominal GDP is (a) The total value of goods and services net of exports (b) The total value of goods and services produced during periods of low unemployment (c) The total value of goods and services measured at current prices (d) The total value of goods and services produced at full employment.
Last Answer : (c) The total value of goods and services measured at current prices
Description : Which of the following Price Indices of India is considered for measuring ‘Headline Inflation’? A. A GDP Deflator B. B CPI-AL/RL C. C CPI-IW D. D WPI
Last Answer : D. D WPI
Description : GDP at factor cost exceeds GDP at market price (a) When the factor income from abroad is negative ; (b) When depreciation on fixed capital exceeds income in investment; (c) When direct tax exceeds indirect tax ; (d) When subsidies exceeds indirect taxes.
Last Answer : (d) When subsidies exceeds indirect taxes.
Description : GDP at market price exceeds GDP at factor cost by the amount of revenue raised through ………………. (a) Direct taxes ; (b) Indirect taxes ; (c) Income tax ; (d) Tax on rents
Last Answer : ; (b) Indirect taxes ;
Description : Change in price of the goods cause (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price; (d) No effect on quantity demanded
Last Answer : (a) Change in quantity demanded ;
Description : Change in consumers tastes and preference causes – of the particular goods (a) Change in quantity demanded ; (b) Shift in demand curve ; (c) Change in price ; (d) No effect on quantity demanded
Last Answer : (b) Shift in demand curve ;
Description : Select the odd one (a) Consumer taste ; (b) Price of the goods ; (c) Change in population ; (d) Increase in price of product
Last Answer : (d) Increase in price of product
Description : Which of the following function does money serve when used to purchase or sell different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power
Last Answer : (b) Medium of exchange ;
Description : Which of the following function does money serve when used to measure the prices of different goods and services? (a) Store of value ; (b) Medium of exchange ; (c) Standard of value ; (d) Display of power
Last Answer : (c) Standard of value ;
Description : National income is the ……………. Of all the goods and services produced by a country during a period of year (a) Physical quantity ; (b) Money value ; (c) `Value ; (d) All the three
Last Answer : (b) Money value ;
Description : Goods or services that are necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials
Last Answer : (a) Needs ;
Description : Goods or services that are not necessary for living are (a) Needs ; (b) Desires ; (c) Wants ; (d) Essentials
Last Answer : ; (c) Wants ;
Description : Macroeconomics is concerned with (a) The level of output of goods and services ; (b) The general level of prices ; (c) The growth of real output ; (d) All of the above
Last Answer : (d) All of the above
Description : Economic efficiency means (a) Production of goods of mass consumption at lower cost; (b) Production of goods and services for those who have purchasing power; (c) Getting greatest satisfaction from available resources ; (d) Full employment of working force
Last Answer : (c) Getting greatest satisfaction from available resources
Description : Structural unemployment is mainly due to (a) Structural changes in the economy ; (b) Technological development (c) Growth in GDP ; (d) Population explosion.
Last Answer : (a) Structural changes in the economy ;
Description : Given the supply quantity which is fixed an increase in aggregate demand will have direct impact on (a) Increase in GDP ; (b) Inflationary pressure ; (c) Greater employment opportunity; (d) More equitable distribution of income and wealth
Last Answer : (b) Inflationary pressure ;
Description : Inflationary conditions may co-exist with which of the following situation (a) Increase in factor cost ; (b) Increase in employment opportunities; (c) Growth in GDP and imports ; (d) All the three
Last Answer : ; (d) All the three
Description : Manipulation in CRR enables the RBI to ……. (a) Influence the lending ability of the commercial banks ; (b) Check unemployment growth; (c) Check poverty ; (d) Increase GDP
Last Answer : (a) Influence the lending ability of the commercial banks ;
Description : If we add……………. to net domestic production we get GDP (a) Depreciation ; (b) Direct tax ; (c) Indirect tax ; (d) Interest payment
Last Answer : (a) Depreciation ;
Description : Given Real GDP 8.25%, Nominal GDP 11.25%, Rate of inflation will be (a) 2.5% ; (b) 3% ; (c) 4.25% ; (d) 3.5%
Last Answer : (b) 3% ;
Description : Given Real GDP of 6.5% and rate of inflation of 5.5% nominal GDP will be……. (a) 12% ; (b) 10% ; (c) 10.5% ; (d) 9.5%
Last Answer : (a) 12% ;
Description : If Nominal GDP is 11% and Real GDP is 6%, then the difference of 5% represent (a) Depreciation ; (b) Rate of inflation ; (c) Rate of interest ; (d) Tax burden
Last Answer : (b) Rate of inflation ;
Description : If GDP exceeds GNP the possible reasons could be (a) Foreigners are earning more in India than Indians are earning in foreign countries (b) High incidence of plant and machinery wear out (c) Indian are earning more in foreign countries than foreigners earnings in India (d) None
Last Answer : (a) Foreigners are earning more in India than Indians are earning in foreign countries
Description : Which of these is not a part of GDP for the year 2006? (a) Earning of an International fashion show organized in Delhi (b) Sale of ticket for Republic day parade. ; (c) Fee of a practicing Chartered Accountant (d) A house built in 2000 and first sold in 2006
Last Answer : (d) A house built in 2000 and first sold in 2006
Description : Nominal GDP is measured in ………………..prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000
Last Answer : (b) Current year ;
Description : Real GDP is measured in………….prices (a) Base year ; (b) Current year ; (c) 1980 ; (d) 2000
Last Answer : Base year
Description : In an open economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP
Last Answer : ; (d) All the three are possible
Description : In a closed economy (a) GDP=GNP ; (b) GDP>GNP ; (c) GDP
Last Answer : (a) GDP=GNP ;
Description : If in 2000 nominal GDP is = `70000 Crore and the prices in 2000 were 40% more than the real GDP in 2000 using 1996 as a base year is (a) `45,000 Crore ; (b) `50,000 Crore ; (c) `42,000 Crore ; (d) `98000 Crore
Last Answer : (b) `50,000 Crore ;
Description : Which of the following equation is correct? (a) GNP=GDP+Net factor income from abroad (b) GNP=GDP+Gross factor income from abroad (c) GNP=GDP-Net factor income from abroad (d) GNP=GDP-Gross factor income from abroad
Last Answer : (a) GNP=GDP+Net factor income from abroad
Description : Which of the following equation is correct (a) NDP=GDP- Depreciation ; (b) NDP=GDP+ Depreciation ; (b) NDP=GDP- Depreciation-subsidy; (d) NDP=GDP- Depreciation+subsidy
Last Answer : (a) NDP=GDP- Depreciation ;
Description : Choose the correct statement (a) GPD at fc = GPD mp-IT +S ; (b) GPD at fc = GDP mp-IT –S ; (c) GDP at fc = GDP mp+IT+S; (d) GDP at fc = GDP mp+IT-S
Last Answer : (a) GPD at fc = GPD mp-IT +S ;
Description : All entries in the balance of payments should collectively sum to (a) GDP of that country ; (b) GNP of that country ; (c) Zero ; (d) Exports of that country.
Last Answer : (c) Zero
Description : The difference between Gross National Product (GNP) and Gross Domestic Product GDP) is (a) Excess of subsidies over indirect taxes ; (b) Depreciation ; (c) Net foreign income from abroad (d) Excess of indirect taxes over subsidies
Last Answer : (c) Net foreign income from abroad
Description : GDP at market prices is the sum of Consumption, Investment, Government Spending and Net Exports. „Net‟ exports is (a) Gross exports minus depreciation ; (b) Exports minus imports ; (c) Gross exports earnings minus capital inflow ; (d) Export minus imports of merchandize
Last Answer : (b) Exports minus imports ;
Description : Two commodities X and Y goods can be inferred as close substitute of each other if - (a) Increase in price of one leads to increase in demand of other and vice versa (b) Increase in price of one ... fall in demand of other one (d) Increase in price of one leads to increase in demand of other one
Last Answer : (a) Increase in price of one leads to increase in demand of other and vice versa
Description : Under the law of demand ceteris paribus is/are (a) Price of other goods ; (b) Disposal income ; (c) Tastes and preferences ; (d) All the three
Description : The supply of goods means …………… (a) Quantity offered for sale at a given price and time ; (b) Quantity produced by the manufacturer ; (c) Quantity available with the supplier (d) Consumers disposal income
Last Answer : (a) Quantity offered for sale at a given price and time ;
Description : Which of these is not a factor of quantity supplied (a) Price of the goods ; (b) Price of the related other goods; (c) Cost of production ; (d) Consumers disposal income
Last Answer : ; (d) Consumers disposal income
Description : Which of these is not a determinant of aggregate supply (a) Quantity demanded ; (b) Price of the product under consideration ; (c) Relative price of other goods ; (d) Future expectations about prices
Last Answer : (a) Quantity demanded ;
Description : If demand of coffee increases by 10% with 20% decline in the price of sugar we can say that (a) Cross price elasticity of demand is negative and both the products are complementary to each other ... price elasticity is positive and the products are complementary to each other ; (d) None of these
Last Answer : (a) Cross price elasticity of demand is negative and both the products are complementary to each other;
Description : A goods can be considered a normal goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand
Last Answer : (a) An increase in demand ;
Description : A goods can be considered inferior goods in economics if increase in disposal income of the consumer causes (a) An increase in demand ; (b) No change in demand ; (c) Decrease in demand ; (d) Less than proportionate change in demand
Last Answer : ; (c) Decrease in demand ;
Description : Which of these are exception to law of Demand (a) Giffen effect/goods ; (b) Future change in prices ; (c) Change in fashion ; (d) All the three
Description : According to traditional approach the factor responsible for operation of downward slope of demand curve are (a) Change in number of consumers ; (b) Law of decreasing marginal utility (c) Alternative uses of goods ; (d) All the three