• Economics Quiz – 1


    An economy is at the take off stage on its path to development when it
    A) becomes stagnant
    B) begins steady growth
    C) is liberalized
    D) gets maximum foreign aid
    2 Which of the following is the basic characteristic of Oligopoly?
    A) a few sellers, one buyer
    B) a few sellers, many buyers
    C) a few sellers, a few buyers
    D) many sellers, a few buyers
    3 In India, inflation is measured by
    A) wholesale price index number
    B) consumer price index for urban non-manual workers
    C) consumer price index for agricultural workers
    D) national income deflation
    4 The difference between Government’s total expenditure and total receipts (excluding borrowing) is called
    A) Fiscal Deficit
    B) Gross Profit
    C) Net Income
    D) Depreciation
    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?
    A) Bill of exchange
    B) Letter of Exchange
    C) Letter of Credit
    D) Bill of entry
    6 Which among the following duties is applied by a government to control the exports of a commodity?
    A) Custom duty
    B) Excise Duty
    C) Anti dumping duty
    D) Dumping Duty
    7 Consider the following statements in context with Treasury Bulls?
    A) They are issued by Government of India on behalf of RBI
    B) They are mostly for short term borrowings
    C) Treasury Bills cannot be purchased by any person resident of India
    D) None of These
    8 When there is an inflationary trend in the economy what would be trend in the pricing of the Bank products?
    A) Increasing trend
    B) Decreasing trend
    C) Constant trend
    D) There is no relevance of the inflation in pricing of the Banking Products
    9 Sensitive list items in trade refers to
    A) Items which are costlier to produce in India
    B) Items whose import leads to lower prices for Indian consumer
    C) Items whose import reduces the market share of domestic producers
    D) Items which are injurious to health such as tobacco and alcohol
    10 As per Demand-Supply Concept, higher demand compared to same supply leads to
    A) Higher Price
    B) Lower price
    C) No Impact on Price
    D) None of These

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