Description : Rich countries have deficit in their balance of payments (a) Sometimes. (b) Always. © Never. (d) Alternate years.
Last Answer : (a) Sometimes.
Description : .A tariff that is levied as a fixed charge per unit of imports is known as a (a) Specific tariff (b) Ad- valorem tariff © Import tariff (d) Export tariff.
Last Answer : a) Specific tariff
Description : When tariff is imposed on imports which of the following will increase? (a) Domestic output. (b) Domestic demand. © Domestic price. (d) Domestic consumption.
Last Answer : © Domestic price.
Description : Tariff is a----- (a) Quantitative restrictions on import. (b) Tax on import. © License on import. (d) Both (b) and (c).
Last Answer : (b) Tax on import.
Description : A tariff------ (a) Increases the volume of trade. (b) Reduces the volume of trade. © Has no effect on the volume of trade. (d) Both (a) and (c).
Last Answer : (b) Reduces the volume of trade.
Description : “Higher the indifference curve, higher will be the level of satisfaction” (a) always true (b) always false © sometimes true and sometimes false (d) true only if price effect is positive.
Last Answer : (b) always false
Description : Isoquants in Leontief’s input- output model are (a) Variable coefficient (b) Fixed coefficient © Sometimes fixed sometimes variable (d) None of the abov
Last Answer : (b) Fixed coefficient
Description : “ All Giffen goods are inferior, but all inferior goods are not Giffen”. The statement is (a) sometimes true (b) true © false (d) none of the above
Last Answer : (b) true
Description : Quota is very----- (a) effective (b) ineffective © sometimes effective (d) none of the above.
Last Answer : (a) effective
Description : Which of the following is often used to raise revenue for a country and/or to protect domestic products? A)A quota B)A warning label C)An embargo D)An import tariff
Last Answer : D)An import tariff
Description : Your school building is just adjacent to a Cinema Hall. It generates delinquency and spoil the young mind badly. Therefore, there is utter chaos in the school in the name of discipline. What alternative ... ) Start a movement for shifting of school building D) Raise your voice for student's welfare
Last Answer : B) Make a discipline committee to watch out such students and give them rigorous punishment
Description : Now-a-day the Government has given priority to social welfare schemes, therefore, it has launched various schemes like Age-old Pension scheme, Widow Pension scheme etc. Your personal opinion towards all these ... social sympathy D) These people live a dignified life like others along with 'A'
Last Answer : D) These people live a dignified life like others along with 'A'
Description : flation (a) Always reduces cost of living (b) Always reduces standard of living © Reduces price of products (d) Reduces purchasing power of money
Last Answer : (d) Reduces purchasing power of money
Description : In which country's educational system would you like to raise your child?
Last Answer : My own, since I’d hate to send the little bugger away from me.
Description : What helps raise a country's gross domestic product?
Last Answer : What helps raise a country's GDP. Is a high literacy-rate. A high literacy rate is a number of people that can read and write in any given county over the age of 14.
Description : 7. According to Keynes, when the Great Depression started, the government should have: a. done nothing b. decreased the money supply c. had a large increase in government spending d. enacted high tariffs, such as the Smoot-Hawley Tariff
Last Answer : c. budget surplus of $1000
Description : Which one of the following is not a non-tariff barrier ? (a) Voluntary export restraint (b) Quota (c) Advalorem tariff (d) Technical barriers
Last Answer : Advalorem tariff
Description : A tariff that maximises the difference between the terms of trade gain and the dead weight loss is called (a) Retaliatory tariff (b) Optimum tariff (c) Countervailing tariff (d) Double-column tari
Last Answer : Optimum tariff
Description : The effective rate of protection (a). distinguishes between tariffs that are effective and those that are ineffective (b). is the minimum level at which a tariff becomes effective in ... in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Last Answer : d). shows the increase in value added for domestic production that a particular tariff structure makes possible, in percentage terms
Description : A wife called to her husband from the front door of their home stating, 'Don't forget to raise the flag, but please don't be goofy and salute it afterward.' Her husband responded by saying, ' ... I object, it's you're saluting it afterward that bothers me!' What were the circumstances be -Riddles
Last Answer : The flag on the couple's mailbox in front of their home was painted red, white, and blue to resemble the American flag. When the husband put their outgoing bills and other mail in the mailbox, ... Being a veteran and a patriotic person, he felt compelled to salute the flag each time he raised it.
Description : A rising Per Capita Income will indicate a better welfare if it is accompanied by - (1) unchanged Income distribution overall. (2) changed Income distribution in favour of rich. (3) changed Income distribution in favour of poor. (4) changed Income disribution in favour of Industrial Labour.
Last Answer : (3) changed Income distribution in favour of poor. Explanation: Per capita income has lately been viewed as a better determinant of economic development and welfare. However, high inequality can still ... no quarters deprived as after all, economic welfare is a part and parcel of social welfare.
Description : Savings rate is relatively low in developed economies because of - (1) Low per capita income (2) Welfare programmes (3) Liquidity/ Borrowing constraint (4) High interest rate
Last Answer : (2) Welfare programmes Explanation: As a general rule, saving is considered as a derivative of consumption. Developed economies have lower saving rates than developing countries because ... generations raises national consumption and lowers national saving (The Concise Encyclopedia of Economics).
Description : An increase in per capital income is not an indication of an increase in the economic welfare of the people - (1) When such increase is the result of an increased production action of ... the production of industrial goods (4) When such increase is the result of increased production of intoxicants
Last Answer : (4) When such increase is the result of increased production of intoxicants Explanation: An increase in per capita income due to increased production of intoxicants cannot be taken as economic ... population, include: GDP, literacy, access to health care, and assessments of environmental quality.
Description : Where has the Union Minister for Agriculture and Farmers welfare launched an ICFMD? 1. Arugul, Odisha 2. Bhubaneshwar, Odisha 3. Cuttack, Odisha 4. None of the above
Last Answer : 1. Arugul, Odisha
Description : Who is the present Minister of Agriculture & Farmers Welfare? a. Kailash Choudhary b. Krishna Raj c. Narendra Singh Tomar d. Abhishek Singh Chauhan
Last Answer : c. Narendra Singh Tomar
Description : Agricultural and Processed Food Products Export Development Authority (APEDA), which is mandated with export promotion of scheduled products including fruits, vegetables, poultry, meat, dairy etc, functions under which ministry? a. Ministry of Consumer Affairs, Food and Public Distribution
Last Answer : d. Ministry of Commerce and Industry
Description : Laissez-faire economics refers to: a) a term denoting economic transactions carried out by the State/government b) economic transactions in private parties where there is no intervention by the State/government c) a branch of socialism focusing on welfare economics d) None of the above
Last Answer : b) economic transactions in private parties where there is no intervention by the State/government
Description : Economic growth is measured by (a) Increase in national income (b) increase in infrastructure (c) increase in economic welfare (d) urbanisation
Last Answer : (a) Increase in national income
Description : Savings rate is relatively low in developed economies because of (1) Low per capita income (2) Welfare programmes (3) Liquidity/Borrowing constraint (4) High interest rate
Last Answer : Welfare programmes
Description : A rising Per Capita Income will indicate a better welfare if it is accompanied by (1) unchanged Income distribution overall. (2) changed Income distribution in favour of rich. (3) changed Income distribution in favour of poor. (4) changed Income disribution in favour of Industrial Labour.
Last Answer : changed Income distribution in favour of poor.
Description : An increase in per capital income is not an indication of an increase in the economic welfare of the people (1) When such increase is the result of an increased production of comforts ( ... production of industrial goods (4) When such increase is the result of increased production of intoxicants
Last Answer : When such increase is the result of increased production of intoxicants
Description : Do you give a serious answer to a question always, sometimes, or almost never? Why?
Last Answer : Since they’ve created the ‘social’ and the ‘general’ section’ it’ll would be easier for me to decide whether or not I should get serious toward a question. Before that,I tend to take it seriously for almost all question that sound serious.
Description : Is a trapezoid always sometimes or never a kite?
Last Answer : A trapezoid is never a kite but they are both 4 sidedquadrilaterals
Description : All parallelograms are rectangles Always, Sometimes, or Never?
Last Answer : why
Description : D.C. windings are (a) sometimes 2-layer type (b) never 2-layer type (c) always 2-layer type (d) none of the above
Last Answer : (c) always 2-layer type
Description : Under what economic system is a country's armed forces stronger? :Capitalism or Socialism?
Last Answer : The Soviet Union mustered an undefeatable army during the Second World War, and so did the Capitalist Allies.
Description : A country's balance of trade is unfavorable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavorable (4) None of these
Last Answer : (2) imports exceed exports Explanation: The balance of trade, or net exports is the difference between the monetary value of exports and imports of output in an economy over a certain period. It is the ... is imported: a negative balance is referred to as a trade deficit or, informally, a trade gap.
Description : The best measure to assess a country's economic growth is - (1) per capita income at constant prices (2) per capita income at current prices , (3) gross domestic product at current prices (4) gross national product at current prices
Last Answer : (1) per capita income at constant prices Explanation: Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a given period ... the aggregate (such as GDP or Gross National Income) and dividing it by the total population.
Description : Which of the following is not an economic activity? (1) A labourer working in a factory. (2) A CRPF jawan guarding country’s borders. (3) A teacher teaching his own son. (4) A farmer tilling his own land.
Last Answer : (3) A teacher teaching his own son. Explanation: An activity which is done with the aim of monetary return is called an economic activity, while an activity which is not done with the aim of ... he is doing economic activity. When the same teacher teaches his son, he is doing non-economic activity.
Description : Almost what percent of the country’s net sown area is rainfed? a. 84% b. 56% c. 64% d. 78%
Last Answer : d. 78%
Description : What records a country's transactions (made by individuals, firms and government bodies.) with the rest of the world? a) Trade deficit b) Capital Budget c) Foreign imports d) Balance of Payments or BoP
Last Answer : b) other things remaining equal
Description : Which among the following is taken as the real measure of a country's international competitiveness? a) Real exchange rate b) Nominal exchange rate c) Superfluous exchange rate d) None of the above
Last Answer : a) Real exchange rate
Description : Which of the following is not an economic activity ? (1) A labourer working in a factory. (2) A CRPF jawan guarding country’s borders. (3) A teacher teaching his own son. (4) A farmer tilling his own land.
Last Answer : A teacher teaching his own son.
Description : A country’s balance of trade is unfavourable when — (1) exports exceed imports (2) imports exceed exports (3) terms of trade become unfavourable (4) None of these
Last Answer : imports exceed exports
Description : The best measure to assess a country’s economic growth is (1) per capita income at constant prices (2) per capita income at current prices (3) gross domestic product at current prices (4) gross national product at current prices
Last Answer : per capita income at constant prices
Description : Leontief’s model is open due to the fact that final demand is given from----- the system (a) within (b) outside © both (a) and (b) (d) none of the above.
Last Answer : (b) outside