Indian Economy Practice Question and Answer
8 Q: The term “Micro Economics” and “Macro Economics” was coined by–
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6336dfd32ff7535af6869591- 1Alfred Marshalfalse
- 2Ragner Nurksefalse
- 3Ragner Frischtrue
- 4J.M. Keynesfalse
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Answer : 3. "Ragner Frisch "
Explanation :
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
Q: The capital of IMF is made up by the contribution of–
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6336df7d30141c336c39f9d6- 1Creditfalse
- 2Deficit Financingfalse
- 3Member Nationstrue
- 4Borrowingsfalse
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Answer : 3. "Member Nations "
Explanation :
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.
Q: 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.
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6336dec35c208a6bf71b12b9- 1i,ii,iiifalse
- 2i, iii, ivtrue
- 3ii, ivfalse
- 4i, ii, iii, ivfalse
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Answer : 2. "i, iii, iv"
Explanation :
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.
Q: Which among of the following is not a positive sign for any industry.
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6336de5230141c336c39f81a- 1Decrease in profittrue
- 2Labour instabilityfalse
- 3Decrease in marketfalse
- 4Decrease in demandfalse
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Answer : 1. "Decrease in profit "
Explanation :
Explain: -Decrease in profit is not a sudden positive sign.
Q: Socialism is successful in achieving because of–
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650ace4f7cef9d5024532e82- 1Excess socialistic approach in societytrue
- 2To increase standard of livingfalse
- 3Equal distribution of incomefalse
- 4None of the abovefalse
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Answer : 1. "Excess socialistic approach in society"
Explanation :
Explain: -Making social welfare is the success of socialism
Q: What will happen if labour productivity is increased?
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6336ddd130141c336c39f75f- 1Balanced cash wage will decreasefalse
- 2Competitive firms will be forced to invest morefalse
- 3Labour demand curve will shift towards righttrue
- 4None of the above.false
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Answer : 3. "Labour demand curve will shift towards right"
Explanation :
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.
Q: The interest in infrastructure is less because.
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632c670331300b7ce473ed83- 1There is large invest in itfalse
- 2There needs a desired projectfalse
- 3Time to finish the infrastructure is morefalse
- 4Profit is gained after long time.true
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Answer : 4. "Profit is gained after long time."
Explanation :
Infrastructure refers to the basic physical and organizational structures, facilities, systems, and services that are necessary for the functioning of a society, economy, or organization. It encompasses a wide range of essential components, including
Q: “World Bank” is also called as –
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6336dd562ff7535af6868279- 1International Bank for Reconstruction and developmenttrue
- 2International, rehabilation and development bankfalse
- 3International rehabilated and development bankfalse
- 4None of these.false
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Answer : 1. "International Bank for Reconstruction and development"
Explanation :
The "World Bank" is also referred to as simply the "World Bank." While its full name is the "International Bank for Reconstruction and Development (IBRD)," the term "World Bank" is commonly used to refer to this international financial institution.