Question 1

Which is the fastest running train on Indian railway

Accepted Answer

New Delhi - Mumbai Rajdhani Express

Question 2

Which of the following programme is launched to develop basic infrastucture in the country

Accepted Answer

Bharat Nirman Programme

Question 3

Many time we read in financial newspaper about the performance of the Core Sector in Economy. Which of the following is NOT included in the core sector of the same

Accepted Answer

Auto Sector

Question 4

Which of the following is a programme under which electric connection is given to people below poverty line

Accepted Answer

Kutir Jyoti

Question 5

The Government of India recently decided to create a 'Specific Financing Window ' for its ' Mega Bharat Nirman Programme ' . This specific financing window will operate through

Accepted Answer

NABARD

Question 6

Which of the following programmes was launched in 2005-06 for creating infrastucture and basic amenities in rural parts of our Country

Accepted Answer

Bharat Nirman Programme

Question 7

According to John Maynard Keynes, employment depends upon

Accepted Answer

J.M Keynes’ theory of employment is a demand-deficient theory. This means that Keynes visualised employment from the demand side of the model. His theory is a demand-oriented approach, as opposed to the classical supply side model. According to him,the volume of employment in a country depends on the level of effective demand of people for goods and services. Thus, unemployment is attributed to the deficiency of effective demand.

Question 8

The Budget proposals also seek to provide relief to salaried tax payers by allowing a standard deduction of what amount in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses?

Accepted Answer

The standard deduction of Rs. 40,000 is seek to provide relief to salaried tax payers in the Budget proposals in place of the present exemption allowed for transport allowance and reimbursement of miscellaneous medical expenses.

Question 9

The law of increasing opportunity costs states that

Accepted Answer

Opportunity cost is the cost of other alternative choices for making your interested choice of work. Oppurtunity cost is also called as alternative cost. For example on a holiday, you have two choices to do, either you can go to movie or a function. And if you chose to go to moavie, the oppurtunity cost of going to movie is the value that would have gotten if you had gone to function. The law of increasing opportunity costs states that as you increase production of one good, the opportunity cost to produce an additional good will increase.

Question 10

If the production possibilities curve was a straight line, this would imply that

Accepted Answer

A production–possibility frontier (PPF) or production possibility curve (PPC) is the possible tradeoff of producing combinations of goods with constant technology and resources per unit time.

Question 11

Graphically, the market demand curve is

Accepted Answer

the horizontal sum of individual demand curves

Question 12

A rise in general level of prices may be caused by

Accepted Answer

All the three statements lead to either increase in demand of goods and services or decrease in the supply. This leads to increase in general level of prices.

Question 13

Tennis rackets and ballpoint pens are

Accepted Answer

Tennis rackets and ballpoint pens are two independent goods. Since, one doesn't depend on the other.

Question 14

Which of the following can increase your credit card's APR?

Accepted Answer

Missing a credit card payment can increase your credit card's APR. APR means Annual Percentage Rate.

Question 15

To the economist, total cost includes

Accepted Answer

explicit and implicit costs.

Question 16

All Insurance is based on a principle called

Accepted Answer

Any type of insurance, be it home, auto, life, health, etc. are based on a principle of division of risk. Division of Risk :: This is based on how much risk the insurer estimates the insured's coverage to be. The riskier the opportunity (bad health, area the home is in) the higher the premium costs.

Question 17

Net exports are negative when

Accepted Answer

When exports are greater than imports, net exports are positive and similarly, when imports are greater than exports, net exports are negative. When a country imports goods, it buys them from foreign producers. The money spent on imports leaves the economy, and that decreases the importing nation's GDP.

Question 18

How long is your TABC certification valid?

Accepted Answer

TABC stands for Texas Alcoholic Beverage Commission. The Texas Alcoholic Beverage Commission regulates the sales, taxation, production, trade, and advertising of alcoholic beverages in Texas. Alcohol Seller/server Training regulated by this regulatory body is also called TABC Certification. It makes the rules the rest of us have to follow, and if you want to get a job serving alcohol in Texas, getting TABC certified is your first step.

Question 19

Sociologists define the concept of "race" as

Accepted Answer

Sociologists define the concept of "race" as a socially constructed category composed of people who share biologically transmitted traits that members of a society consider important.

Question 20

Supply curves tend to be

Accepted Answer

Supply curves tend to be more elastic in the long run, because there is time for firms to enter or leave the industry.

Indian Economy Questions