Economics – I Answers

 

1  An economy is at the take off stage on its path to development when it Ans) begins steady growth
2  Which of the following is the basic characteristic of Oligopoly? Ans) a few sellers, many buyers
3  InIndia, inflation is measured by Ans) wholesale price index number
4  The difference between Government’s total expenditure and total receipts (excluding borrowing) is called Ans) Fiscal Deficit
5 What do we call an agreement whereby an issuing Bank at the request of the Importer (Buyer) undertakes to take payment to the exporter (Beneficiary) against stipulated documents? Ans)Letter of Credit
6 Which among the following duties is applied by a government to control the exports of a commodity? Ans)  Custom duty
7 Consider the following statements in context with Treasury Bulls? Ans) They are mostly for short term borrowings
8 When there is an inflationary trend in the economy what would be trend in the pricing of the Bank products? Ans) Increasing trend
9 Sensitive list items in trade refers to Ans) Items whose import reduces the market share of domestic producers
10 As per Demand-Supply Concept, higher demand compared to same supply leads to Ans) Higher Price
11 As per Demand-Supply Concept, higher supply compared to same demand leads to Ans) Lower Price
12 Difference between Export and Import when Export> Import; knows as Ans) Trade Deficit
13 Increase in aggregate demand due to increased private, public and government spending leads to Ans) Demand-Pull Inflation
14 Which one in the list is not an approach to calculated GDP? Ans) Spening Approach
15 Which is this is not associated with deteriorating economic condition Ans) High Foreign Cash inflow

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