Business and Economics - General Knowledge Questions

1 .
Which of the following is regarded as a better measurement of economic development?
A)
National Disposable Income
B)
Per Capita Income
C)
National Income
D)
Private Disposable Income

Correct Answer :   Per Capita Income

2 .
Which of the following is not a money market instrument ?
A)
Certificates of Deposit
B)
Commercial Bills
C)
Bills of exchange
D)
Trade Bill

Correct Answer :   Trade Bill

3 .
Mixed Economy refers to
A)
Coexistence of public and private sector
B)
Coexistence of domestic and foreign enterprises
C)
Coexistence of small and large industries
D)
Coexistence of agriculture and industry

Correct Answer :   Coexistence of public and private sector

4 .
The Microfinance institutions (MFI) registered as Non-Banking Finace Companies (NBFC) are presently regulated by
A)
NABARB
B)
SEBI
C)
Reserve Bank of India
D)
SIDBI

Correct Answer :   Reserve Bank of India

5 .
Under perfect market and in case of decreasing marginal cost the firm's equilibrium with respect to level of production
A)
Can be achieved after a high level of output
B)
Cannot be achieved
C)
Will result in run-away inflation
D)
Can be achieved after a small level of output

Correct Answer :   Cannot be achieved

6 .
A monopolist charging high price operates on
A)
The constant elastic part of a demand curve
B)
Ignores elasticity of demand altogether
C)
The elastic part of a demand curve
D)
The inelastic part of a demand curve

Correct Answer :   The inelastic part of a demand curve

7 .
A perfectly competitive firm will always expand output as long as
A)
Rising marginal cost is less than price
B)
Rising marginal cost is less than the average cost
C)
Rising marginal cost is less than the marginal revenue
D)
None of the above

Correct Answer :   None of the above

8 .
When the income elasticity of demand is greater than unity, the commodity is
A)
A luxury
B)
A necessity
C)
An inferior good
D)
A non-related good

Correct Answer :   A luxury

9 .
Which among the following targets for 11th Plan (2007-12) is incorrect?
A)
Double per capita income by 2016-17
B)
GDP growth rate to be increased to 10 percent
C)
Farm sector growth to be increased to 6 percent
D)
Literacy rate to be increased to 80%

Correct Answer :   Farm sector growth to be increased to 6 percent

10 .
Devaluation of currency will be more beneficial if prices of
A)
domestic goods remain constant
B)
exports become cheaper to importers
C)
exports rise proportionately
D)
imports remain constant

Correct Answer :   exports become cheaper to importers

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