Basic Of Economics(Indian Economy ) Questions and Answers

Question 1. What is deflation________________?
  1.    Deficit Budget
  2.    Reduction in taxation
  3.    Increase in public expenditure
  4.    Reverse of inflation
Explanation:-
Answer: Option D. -> Reverse of inflation
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 2. Two countries can gain from foreign trade if ?
  1.    Cost ratios are different
  2.    Tariff rates are different
  3.    Price ratios are different
  4.    A and C of above
Explanation:-
Answer: Option D. -> A and C of above
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 3. Which of the following is a valid currency______________?
  1.    Promissory note
  2.    Currency note
  3.    Exchange rate
  4.    Bank cheque
Explanation:-
Answer: Option B. -> Currency note
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 4. Commercial policy means_______________?
  1.    Policy about markets
  2.    Policy about money supply
  3.    Policy about imports and exports
  4.    Policy of controlling of prices of goods
Explanation:-
Answer: Option C. -> Policy about imports and exports
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 5. Which of the following is not a function of a commercial bank?
  1.    Accepting public deposits
  2.    Granting loan and advances
  3.    Undertaking agency functions
  4.    Banker to the government
Explanation:-
Answer: Option D. -> Banker to the government
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 6. Oil is measured in barrels. What is the abbreviation for barrels________________?
  1.    Brl
  2.    Bel
  3.    Bbl
  4.    Obl
Explanation:-
Answer: Option C. -> Bbl
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 7. From each according to his ability to each according to his need is the theoretical slogan of ?
  1.    Feudal System
  2.    Capitalist System
  3.    Fascist System
  4.    Communist System
Explanation:-
Answer: Option D. -> Communist System
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 8. Balance of payments of a country includes ?
  1.    Balance of trade
  2.    Capital receipts and payments
  3.    Savings and investment account
  4.    A and B of above
Explanation:-
Answer: Option D. -> A and B of above
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 9. Exchange rate of which of the following currencies falls because of persistent balance of payments deficit ?
  1.    Gold currency
  2.    Hard currency
  3.    Silver currency
  4.    Soft currency
Explanation:-
Answer: Option D. -> Soft currency
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
Question 10. Which city in Germany has the distinction of housing the first car manufacturing plant in the world ?
  1.    Frankfurt
  2.    Bonn
  3.    Berlin
  4.    Stuttgart
Explanation:-
Answer: Option B. -> Bonn
NO EXPLANATION IS AVAILABLE FOR THIS QUESTION!
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