Rent is a cost paid for–
(A) Land
(B) Restaurant
(C) Building
(D) Factory
Explain: -Rent is a cost paid for land as wages and interest are paid for labour and capital respectively.
What will happen if labour productivity is increased?
(A) Balanced cash wage will decrease
(B) Competitive firms will be forced to invest more
(C) Labour demand curve will shift towards right
(D) None of the above.
Explanation:- If there is low marginal labour production, then after giving wages there will be profit from marginal labourer. Ultimately, demand of labour will increase and labour demand curve will shift towards right.
The Production of a commodity mostly through the natural process is an activity of–
(A) Primary Sector
(B) Secondary Sector
(C) Tertiary Sector
(D) Technology Sector
Explain: -The Production of a commodity mostly through the natural process is an activity of primary sector. For Example:– agriculture an agricultural products, fertilizers, animal husbandry etc
Which among of the following is not a positive sign for any industry.
(A) Decrease in profit
(B) Labour instability
(C) Decrease in market
(D) Decrease in demand
Explain: -Decrease in profit is not a sudden positive sign.
The Social Accounting system in India is classified into–
(A) Assets, Liabilities and Debt Position
(B) Public sector, Private Sector and Joint Sector
(C) Income, Product and Expenditure
(D) Enterprise, Households and Government
Explain: -The Social Accounting system in India is classified into income, Product and Expenditure Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations.
IMF was established to meet which of the following objectives.
(i) Promoting International Monetary Cooperation
(ii) Expending International Trade
(iii) Lessening the inequlibrium in trade
(iv) Avoiding competitive exchange depreciations.
(A) i,ii,iii
(B) i, iii, iv
(C) ii, iv
(D) i, ii, iii, iv
Explain: -IMF stands for international monetary fund. It publishes “World Economic outlook” every year, IMF is an organisation of 189 countries, working to faster global monetary co-orperation, secur. The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.
Arthashastra by “Kautilya” is related with–
(A) Military Phase
(B) Political Reign
(C) Social Phase
(D) Economic Postulates
Expl:- The Kautilya’s Arthasastra is related to political reign. Arthastra is an ancient Indian treatise on statecraft, economic Policy and Military strategy, written in sanskrit.
The Arthashastra is an ancient Indian treatise on statecraft, economic policy and military strategy, written in Sanskrit.
The capital of IMF is made up by the contribution of–
(A) Credit
(B) Deficit Financing
(C) Member Nations
(D) Borrowings
Explain: -IMF was established on 27th Dec 1945 by Bretton Woods conference. It started working from 1st March, 1947. Every member nations gives 25% money in terms of gold or US dollars.
“Micro” and “Macro” words was firstly used by–
(A) Ragnar Frisch
(B) I. Fischer
(C) James Tobin
(D) Garle
Explain: -In 1933, Ragnar Frisch firstly used the words “Micro” and “Macro”
The term “Micro Economics” and “Macro Economics” was coined by–
(A) Alfred Marshal
(B) Ragner Nurkse
(C) Ragner Frisch
(D) J.M. Keynes
Explain: -The difference between micro and macro economics is simple. Microeconomics is the study of economics at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole. Microeconomics focuses on issues that affect individuals and companies
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