demand & supply, profit loss, inflation & price index section 3 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
- If increase in demand and supply are of equal magnitude, the price will remain unchanged, but the equilibrium quantity will increase.
- If increase in demand is of greater magnitude than increase in supply, both equilibrium price and equilibrium quantity will increase.
- If increase in supply is of greater magnitude than increase in demand, equilibrium price will fall but equilibrium quantity will increase.
(a) 1 and 2 only
(b) 2 and 3 only
(c) 1 only I
(d) 1, 2 and 3
The correct answers to the above question in:
Answer: (d)
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Question : 1
For measuring the changes in the price level of the country, which among the following index number is used?
a) Security price index number
b) Wholesale price index number
c) Consumer price index number
d) Production index number
Answer »Answer: (c)
Question : 2
Which one among the following pairs is not correctly matched?
a) When total product reaches its maximum : Marginal product becomes zero
b) When total product increases at an increasing rate : Marginal product increases
c) When total product : Marginal increases at a diminishing rate , product declines
d) When total product begins to decline : Marginal product becomes positive
Answer »Answer: (d)
Question : 3
Economic growth is usually coupled with
a) Stagflation
b) Hyper-inflation
c) Deflation
d) Inflation
Answer »Answer: (d)
Question : 4
Which one of the following is not a method to control inflation?
a) Reducing the rate of interest
b) Rationing of commodities
c) Controlling the demand
d) Controlling the supply of money
Answer »Answer: (a)
Question : 5
The base of Consumer Price Index for Industrial Workers is being shifted from 1982 to—
a) 1998
b) 2000
c) 1995
d) 2001
Answer »Answer: (d)
The base of CPI for industrial worker is being shifted from 1982 to 2001.
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