Indian Economy Practice Question and Answer

Q:

The term “Micro Economics” and “Macro Economics” was coined by–

433 0

  • 1
    Alfred Marshal
    Correct
    Wrong
  • 2
    Ragner Nurkse
    Correct
    Wrong
  • 3
    Ragner Frisch
    Correct
    Wrong
  • 4
    J.M. Keynes
    Correct
    Wrong
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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–

469 0

  • 1
    Credit
    Correct
    Wrong
  • 2
    Deficit Financing
    Correct
    Wrong
  • 3
    Member Nations
    Correct
    Wrong
  • 4
    Borrowings
    Correct
    Wrong
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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.

462 0

  • 1
    i,ii,iii
    Correct
    Wrong
  • 2
    i, iii, iv
    Correct
    Wrong
  • 3
    ii, iv
    Correct
    Wrong
  • 4
    i, ii, iii, iv
    Correct
    Wrong
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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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  • 1
    Decrease in profit
    Correct
    Wrong
  • 2
    Labour instability
    Correct
    Wrong
  • 3
    Decrease in market
    Correct
    Wrong
  • 4
    Decrease in demand
    Correct
    Wrong
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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–

652 0

  • 1
    Excess socialistic approach in society
    Correct
    Wrong
  • 2
    To increase standard of living
    Correct
    Wrong
  • 3
    Equal distribution of income
    Correct
    Wrong
  • 4
    None of the above
    Correct
    Wrong
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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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  • 1
    Balanced cash wage will decrease
    Correct
    Wrong
  • 2
    Competitive firms will be forced to invest more
    Correct
    Wrong
  • 3
    Labour demand curve will shift towards right
    Correct
    Wrong
  • 4
    None of the above.
    Correct
    Wrong
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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. 

482 0

  • 1
    There is large invest in it
    Correct
    Wrong
  • 2
    There needs a desired project
    Correct
    Wrong
  • 3
    Time to finish the infrastructure is more
    Correct
    Wrong
  • 4
    Profit is gained after long time.
    Correct
    Wrong
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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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  • 1
    International Bank for Reconstruction and development
    Correct
    Wrong
  • 2
    International, rehabilation and development bank
    Correct
    Wrong
  • 3
    International rehabilated and development bank
    Correct
    Wrong
  • 4
    None of these.
    Correct
    Wrong
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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.

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