Economics mcq

Economics miscellaneous questions

Question 91
Amongst the currency quotes USD/JPY, USD/Euro and USD/CAD, which one of the following is referred as the base currency for quotes? [Punjab & Sindh Bank 2011]
A
US $
B
JPY
C
Euro
D
CAD






Question 92
Indian Railways revenue from:
A
passenger fare
B
freight
C
traffic tax
D
passenger tax
Question 93
Which of the following costs is related to marginal cost?
A
Variable Cost
B
Implicit Cost
C
Prime Cost
D
Fixed Cost
Question 93 Explanation: 
A variable cost is a corporate expense that varies with production output. Variable costs are those costs that vary depending on a company's production volume; they rise as production increases and fall as production decreases. This costs is related to marginal cost.






Question 94
A firm sells new shares worth Rs. 1000 directly to individuals. This transaction will cause.
A
Gross National product to rise by Rs. 1000
B
Gross Domestic Product to rise by Rs. 1000
C
National Income to rise by Rs. 1000
D
No impact on Gross National Product
Question 94 Explanation: 
There is no impact on Gross National Product.
Question 95
The main function of the Exim Bank is:
A
to prevent unlicensed transaction
B
to help RBI in the regulation of foreign exchange
C
to promote exports and curtail imports
D
to conserve foreign exchange






Question 96
India's biggest nationalized enterprise today
A
the Indian Railways
B
the Indian Commercial Banking System
C
the Indian Power Sector
D
the Indian Tele communication System
Question 96 Explanation: 
Today, the Indian Railways India's biggest nationalized enterprise.
Question 97
Poverty in less developed countries is largely due to [CPO SI 2010]
A
income inequality
B
voluntary idleness
C
lack of cultural activities
D
lack of intelligence of the people






Question 98
Operating Surplus arises in the
A
Government Sector
B
Production for self-consumption
C
Subsistence farming
D
Enterprise Sector
Question 98 Explanation: 
Operating Surplus arises in the government sector mostly.
Question 99
In a Laissez-faire economy
A
the customers take all the decisions regarding production of all the commodities
B
the Government does not interfere in the free functioning of demand and supply forces in the market
C
the private-sector takes all the decisions for price-determination of various commodities produced
D
the Government controls the allocation of all the factors of production
Question 99 Explanation: 
Laissez faire is the belief that economies and businesses function best when there is no interference by the government. It comes from the French, meaning to leave alone or to allow to do. It is one of the guiding principles of capitalism and a free market economy.






Question 100
The largest importer country of Indian textile is:
A
Germany
B
Italy
C
Singapore
D
USA
There are 100 questions to complete.

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