demand & supply, profit loss, inflation & price index section 2 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 3 EXERCISES
The following question based on Demand & Supply, Profit Loss, Inflation & Price Index topic of indian economy mcq
(a) 2012-13
(b) 2013-14
(c) 2010-11
(d) 2011-12
The correct answers to the above question in:
Answer: (d)
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Question : 1
Which one among the following is the total amount of money available in an economy at a specific time ?
a) Money volume
b) Near money
c) Narrow money
d) Money stock
Answer »Answer: (d)
The money supply or money stock, is the total amount of monetary assets available in an economy at a specific time. It includes currency in circulation and demand deposits.
Near money: assess which can readily be converted into cash, such as bells of exchange.
Narrow money: Money in forms that can be used as a medium of exchange generally notes, coins and certain balances held by banks.
Question : 2
Which of the following price index number are used for calculation of Central Government employee wage compensation?
a) Consumer price index for agricultural labourers
b) None of the above
c) Wholesale price index
d) Consumer price index for industrial workers
Answer »Answer: (d)
Question : 3
An exceptional demand curve is one that slopes
a) upward to the right
b) horizontally
c) downward to the right
d) upward to the left
Answer »Answer: (a)
When the curve slopes downwards from left to right; higher prices reduce the quantity demanded.
Question : 4
In the paralance of economy / commerce, what is ‘Gilt-edged market’?
a) Market of safe securities
b) Gold and Silver market
c) Industrial securities market
d) Market of software technology products
Answer »Answer: (a)
In the parlance of economy, Gilt-edged market is called market of safe securities. “Gilt-edged” denotes high-grade securities, consequently carrying low yields.
Question : 5
The supply-side economics lays greater emphasis on the point of view of :
a) global economy
b) consumer
c) producer
d) middle-man
Answer »Answer: (c)
Supply-side economics lays greater emphasis on the point of view of the producer whereas the demand side economics lays emphasis on the interest of the consumer.
Question : 6
Assertion (A) :
Investment has a demand effect.
Reason (R):
Investment augments the productivity and income in the economy.
Codes:
a) (A) is correct, but (R) is incorrect.
b) Both (A) and (R) are correct, and (R) is the correct explanation of (A).
c) Both (A) and (R) are correct, but (R) is not the correct explanation of (A).
d) (A) is incorrect, but (R) is correct.
Answer »Answer: (b)
Investment in capital and labour will increase productivity and production which will cause either rise in wages or the creation of employment or both thus the overall income will rise.
GET Demand & Supply, Profit Loss, Inflation & Price Index PRACTICE TEST EXERCISES
demand & supply, profit loss, inflation & price index section 1
demand & supply, profit loss, inflation & price index section 2
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