introduction to macro economics section 5 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 : 26 [SSC IT 2004]
In a business, raw materials, components, work in progress and finished goods are jointly regarded as
a) investment
b) net worth
c) inventory
d) capital stock
Answer »Answer: (c)
Inventory refers to raw materials, work-in-process goods and completely finished goods that are considered to be the portion of a business’s assets that are ready or will be ready for sale.
Inventory represents one of the most important assets that most businesses possess because the turnover of inventory represents one of the primary sources of revenue generation and subsequent earnings for the company’s shareholders/owners.
Question : 27 [SSC GL 2014]
The main emphasis of Keynesian economics is on
a) Foreign trade
b) Taxation
c) Exchange
d) Expenditure
Answer »Answer: (d)
Keynesian Economics is an economic theory of total spending in the economy and its effects on output and inflation. It emphasizes that government expenditures (or tax cuts) leads to increase in GDP which is a multiple of the original expenditure.
Question : 28 [SSC CHSL 2015]
The total utility from 9 units of commodity x is 20 and from 10 units is 15. Calculate the marginal utility from 10th unit.
a) 5
b) –5
c) –0.5
d) 0.5
Answer »Answer: (b)
Marginal Utility = Change in Total Utility / Change in number of Units consumed.
The first component of the formula is to calculate the change in total utility. The second component of the marginal utility formula is the change in the number of units that have been consumed.
This is done by subtracting the number that is currently being consumed from a previously consumed amount.
So, Marginal Utility (MU) from 10th Unit = TU10 - TU9
= 15 – 20= –5
Question : 29 [SSC CAPFs 2015]
Which of the following is a consequence of inflationary price rise ?
a) All of these
b) Adverse effect on the balance of payment
c) Increase in economic inequalities
d) Obstacle in development
Answer »Answer: (a)
Inflationary price rise is harmful to a country’s economic performance and to the welfare of its citizens. It can create a random redistribution of income given that inflation does not have an equal impact on individuals and groups.
The balance of payments may deteriorate because domestic inflation stimulates import spending, given that imports appear relatively cheaper, and dampens export sales.
A continuous price rise can be an obstacle to development as it has an adverse effect on saving and investment and causes a fall in growth.
Question : 30 [SSC CGL 2016]
Selling cost have to be incurred in case of
a) Monopolistic Competition
b) None of the given options
c) Monopoly
d) Perfect Competition
Answer »Answer: (a)
Selling costs are the expenses on an advertisement, salesmanship, free sampling, free service, door-to door canvassing, and so on.
There is no selling problem under perfect competition where the product is homogeneous. Under monopolistic competition where the product is differentiated, selling costs are essential to push up the sales.
They are incurred to persuade a buyer to purchase one product in preference to another.
IMPORTANT indian economy mcq EXERCISES
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599+ Macro Economics Basic GK MCQ Quiz PDF For BANK Exams »
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499+ Macroeconomics Fundamentals GK MCQ Quiz PDF For IBPS »
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Top 500+ Macroeconomics Concepts GK MCQ Quiz PDF For UPSC »
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1000+ Macroeconomics MCQ Test PDF For SBI & IBPS PO Exams »
Introduction to Macro Economics Shortcuts »
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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
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
-
» Poverty & Unemployment
-
» Introduction to Micro Economics
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» Introduction to Macro Economics
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» 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
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