introduction to macro economics section 3 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Macro Economics PRACTICE TEST [6 - EXERCISES]
introduction to macro economics section 1
introduction to macro economics section 2
introduction to macro economics section 3
introduction to macro economics section 4
introduction to macro economics section 5
introduction to macro economics section 6
Question : 11 [SSC CPO 2003]
Capital output ratio of a commodity measures
a) the ratio of capital depreciation to quantity of output
b) the ratio of working capital employed to quantity of output
c) the amount of capital invested per unit of output
d) its per unit cost of production
Answer »Answer: (c)
Capital Output Ratio is the ratio of capital used to produce output over a period of time. This ratio has a tendency to be high when capital is cheap as compared to other inputs.
For instance, a country with abundant natural resources can use its resources in lieu of capital to boost its output; hence the resulting capital-output ratio is low. The capital-output ratio tends to increase if the capital available in a country is cheaper than the other inputs.
Therefore, the countries that are rich in natural resources have a low capital-output ratio. This is because they can easily substitute capital with natural resources in order to increase the output. When countries use their natural resources instead of capital then COR reduces.
Question : 12 [SSC CGL 2016]
Excise duty is levied on
a) import of goods
b) export of goods
c) production of goods
d) sale of goods
Answer »Answer: (c)
Excise duty is a tax on manufacture or production of goods. Excise duty on alcohol, alcoholic preparations, and narcotic substances is collected by the State Government and is called “State Excise” duty. The Excise duty on rest of goods is called “Central Excise” duty.
Question : 13 [SSC LDEO 2013]
The incomes of Indians working abroad are a part of
a) net domestic product of India
b) gross domestic product of India
c) income earned from Abroad
d) domestic income of India
Answer »Answer: (a)
Domestic Product is the ross money value of all final goods and services produced in the domestic territory of a country during a year.
National Product is the gross money value of all final goods and services produced by the normal residents of a country during a year. It includes net factor income from abroad.
Question : 14 [SSC Stenographer 2010]
National Income Estimates in India are prepared by:
a) National Income Committee
b) Central Statistical Organisation
c) National Productivity Council
d) National Development Council
Answer »Answer: (b)
Since 1955 the national income estimates are being prepared by Central Statistical Organization.
The CSO uses different methods like the Product Method, Income Method and Expenditure method for various sectors in the process of estimating the National Income.
Question : 15 [SSC CGL 2000]
In accounting terms, what constitutes the ‘closing stock’?
a) Opening Stock-Capital Losses
b) Opening Stock + Net Investment – Capital Losses
c) Gross Investment-Capital Losses
d) Net Investment
Answer »Answer: (b)
Closing stock refers to the goods remaining unsold during the year. It includes finished products, raw materials, or work in progress and is deducted from the period's costs in the balance sheets.
The amount of closing stock (properly valued) is used to arrive at the cost of goods sold in a periodic inventory system with the following calculation:
Opening stock + Purchases - Closing stock = Cost of goods sold.
IMPORTANT indian economy mcq EXERCISES
-
New 500+ Macro Economics Introduction GK MCQ Quiz For SSC »
-
599+ Macro Economics Basic GK MCQ Quiz PDF For BANK Exams »
-
499+ Macroeconomics Fundamentals GK MCQ Quiz PDF For IBPS »
-
Top 500+ Macroeconomics Concepts GK MCQ Quiz PDF For UPSC »
-
500+ Macroeconomics Concepts Purpose Overview GK MCQ Quiz »
-
1000+ Macroeconomics MCQ Test PDF For SBI & IBPS PO Exams »
Introduction to Macro Economics Shortcuts »
Click to Read...introduction to macro economics section 3 Online Quiz
Click to Start..Introduction to Macro Economics Shortcuts and Techniques with Examples
indian economy MCQ CATEGORIES
-
» Introduction to Indian Economy
-
» Planning, Economic Development & Five year Plans
-
» National Income & Human Development Index
-
» Agriculture Sector, Subsidy and Food Processing
-
» Industries, Manufacturing & Service Sectors
-
» Inclusive growth, Sustainable development and employment
-
» Poverty & Unemployment
-
» Introduction to Micro Economics
-
» Introduction to Macro Economics
-
» Macro fundamentals, GDP, Investment, Growth
-
» Demand & Supply, Profit Loss, Inflation & Price Index
-
» Fiscal Policy, Public Finance and Monetary Policy
-
» Money Supply, Banking and Financial Institutions
-
» Taxes Types, Methods & Budgeting Process
-
» Banking, Security Market & Insurance
RECENT BLOGS
Recently Added Subject & Categories For All Competitive Exams
Series Completion Questions & Answers PDF IBPS Clerk 2024
Top Alphabet Number Series Completion based Verbal Reasoning Multiple choice questions with answers PDF, & Free IBPS Mock tests For IBPS Clerk Prelims 2024
Continue Reading »
New 150+ Percentage Questions For IBPS Clerk Prelims 2024
Free Top Percentage Quants Aptitude based Multiple Choice Questions and Answers Practice Test Series, Quiz PDF & Mock Test for IBPS Clerk Prelims 2024 Exam
Continue Reading »
Classification Reasoning MCQ For IBPS Clerk Prelims 2024
Most Important 100+ Classification based Verbal Reasoning Ability Multiple choice questions and answers PDF, Free New Mock tests For IBPS Clerk Prelims 2024
Continue Reading »
Ratio and Proportion Questions with Solutions, IBPS Clerk
New Ratio and Proportion Quants Aptitude based Multiple Choice Questions and Answers Practice Test Series, Quiz & Mock Test for IBPS Clerk Prelims 2024 Exam
Continue Reading »