• Economics Quiz – 8

    71 Bad money (if not limited in quantity ) drives good money out of circulation. Which law states that?
    A) Keynes’ law
    B) Smith’s law
    C) Gresham’s law
    D) Grimm’s law
    72 Which in the below list is a correct feature of a perpetual bond?
    A) Perpetual Bonds have no fixed interest rates
    B) Perpetual Bonds have no fixed maturity
    C) Perpetual Bonds have no fixed underlying assets
    D) Perpetual Bonds don’t exist in India
     
    73 Which in the below list will be a debit entry in India’s balance of payments?
    A) Imports of goods by India
    B) Income of Indian investments abroad
    C) Receipts of transfer payments
    D) Exports of services by India
    74 When we talk about economies of scale , Increase in the production must be accompanied by ______?
    A) Reduction in Total Cost
    B) Reduction in Average Cost
    C) Reduction in Prices of Inputs
    D) Increase in Marginal Profit
    75 Total Cost is a total of __________ ?
    A) Fixed Cost  Variable Cost
    B) Fixed Cost , Variable Cost  Marginal Cost
    C) Fixed Cost, Variable Cost , Marginal Cost  Real Cost
    D) Fixed Cost, Variable Cost   Real Cost
    76 Marginal Cost is dependent upon _______________.
    A) Only fixed cost
    B) Only variable cost
    C) Both fixed cost and variable cost
    D) Neither fixed cost nor variable cost
    77 If there is a lack of money supply in comparison to the supply of goods and services, then the possible consequence would be?
    A) Inflation
    B) Deflation
    C) Devaluation
    D) Hyperinflation
    78 Interest Rate Policy  is declared as a part of ________?
    A) Fiscal Policy
    B) Industrial Policy
    C) Monetary Policy
    D) Taxation Policy
    79 Which in the below list phrases generally denotes National Income?
    A) Gross National Product at Market Prices
    B) Net National Product at Market Prices
    C) Gross National Product at Factor Cost
    D) Net National Product at Factor Cost
    80 If a commodity has more number of substitutes, the demand for this commodity will be _______?
    A) More elastic
    B) Less elastic
    C) Inelastic
    D) Perfectly elastic

     

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    Answers:

    71 Ans) Gresham`s law
    72 Ans) Perpetual Bonds have no fixed maturity
    73 Ans) Income of Indian investments abroad
    74 Ans) Reduction in Average Cost
    75 Ans) Fixed Cost  Variable Cost
    76 Ans) Only variable cost
    77 Ans) Deflation
    78 Ans) Monetary Policy
    79 Ans) Net National Product at Factor Cost
    80 Ans) More elastic

     

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