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- At which rate, Reserve Bank of India borrows money from commercial banks?
1) Bank Rate
2) Repo Rate
3) Reverse Repo Rate
4) Statutory Liquidity Rate
Correct Answer: Reverse Repo Rate
- Movement along the supply curve is known as ______.
1) Contraction of supply
2) Expansion of supply
3) Increase in supply
4) Expansion and contraction of supply
Correct Answer: Expansion and contraction of supply
- NITI Aayog has been formed to replace which of the following institution?
1) Planning Commission
3) Department of Telecommunications (DoT)
4) Department of Information Technology
Correct Answer: Planning Commission
- In which of the following case, law of demand fails?
1) Giffen goods
2) Normal goods
3) Inferior goods
4) Both Giffen and Inferior goods
Correct Answer: Both Giffen and Inferior goods
- The ________ curve represents the demand of all consumers in the market taken together at different levels of the price of the good.
3) market demand
Correct Answer: market demand
- The market structure called monopoly exists where there is exactly ______ seller in any market.
Correct Answer: One
- For a price taking firm, average revenue is ______ market price.
1) half of
2) equal to
3) double of
4) less than
Correct Answer: equal to
- The study of individual markets of demand and supply in which the ‘players’, or the decision makers, were also individuals (buyers or sellers, even companies) who were seen as trying to maximize their profits (as producers or sellers) and their personal satisfaction or welfare levels (as consumers) is called?
1) Macro economics
3) Micro economics
4) Heterodox Economics
Correct Answer: Micro economics
Which one of the following is a component of Food Security System?
1) Buffer stock
2) Minimum support price
3) Fair price shops
4) Mid-day meals
Correct Answer: No Correct Answer (Benefit to all)
- What is the accepted average Calorie requirement for rural area in India?
Correct Answer: 2400
- ‘Neo-Malthusian Theory’ is associated with which of the following?
3) Resource scarcity
Correct Answer: Resource scarcity
- Who takes the decision regarding the savings and loan activities in a Self-Help Group (SHG)?
1) Private Bank
2) Reserve Bank of India
3) Members of group
4) Non-Government Organizations
Correct Answer: Members of group
- Which amongst the following is not in the list of Maharatna?
1) Coal India Limited
2) Steel Authority of India Limited
3) Hindustan Petroleum Corporation Limited
4) Bharat Heavy Electricals Limited
Correct Answer: Hindustan Petroleum Corporation Limited
- Which of the following is not true about a Demand Draft?
1) It is a negotiable instrument.
2) It is a banker’s cheque.
3) It may be dishonored for lack of funds.
4) It is issued by a bank.
Correct Answer: It may be dishonored for lack of funds.
- Which of the following country is not a member of BRICS association?
Correct Answer: Iceland
- In which market form, a market or an industry is dominated by a single seller?
4) Monopolistic Competition
Correct Answer: Monopoly
- Which one of the following is also regarded as Disguised unemployment?
1) Under employment
2) Frictional unemployment
3) Seasonal unemployment
4) Cyclical unemployment
Correct Answer: Under employment
- When there is only one buyer and one seller of product, it is called _____ situation.
1) Public monopoly
2) Bilateral monopoly
3) Franchised monopoly
Correct Answer: Bilateral monopoly
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