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IBPS Clerk Indian Economy Quiz 4

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IBPS Clerk Indian Economy Quiz 4

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Geography is a very important subject for Railway Recruitment exams and UPSC Exams. All these questions are easily understandable format. IBPS CLERK Indian Economy Quiz 4 is very useful to get the maximum marks in several competitive exams. Candidates can check the daily updates at SSC Official Website.

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1. The difference between exports and imports is called-?
    A. assets and liabilities B. balance of payment C. GDP D. balance of trade

Answer: Option D
2. Which of the following is not true about a Demand Draft?
    A. It is a negotiable instrument. B. It is a banker's cheque C. It may be dishonored for lack of funds D. It is issued by a bank

Answer: Option C
3. What does 'C' stands for 'CAGR', a business specific term for the geometric progression ratio that provides a constant rate over the specific time period?
    A. Control B. Compound C. Credit D. Call

Answer: Option B
4. One of the following is 'Labour' in Economics.
    A. A Musician performing for a benefit fund B. A Painter working for his own pleasure C. Bank recapitalization. D. All of these

Answer: Option D
5. How many percent of the average prize rising of crude oil will rise according to Economic Survey 2018?
    A. CRISIL B. Dewan Housing Finance Corp. Ltd C. Reading a book as a hobby D. A Mother teaching her own son

Answer: Option A
6.Which one of the following is not an assumption in the law of demand?
    A. There are no changes in the taste and preferences of consumers B. Income of consumers remains constant C. Consumers are affected by demonstration effect D. There are no changes in the price of substitute goods.

Answer: Option C
7. According to John Maynard Keynes, employment depends upon
    A. aggregate demand B. aggregate supply C. effective demand D. rate of interest

Answer: Option C
8. A market situation when firms sell similar but not identical products is termed as
    A. perfect competition B. imperfect competition C. monopolistic competition D. oligopoly

Answer: Option C
9. In 2015, the nominal rate of interest in a country was 5.5% and the inflation rate then was 2.5%. So real rate of interest in 2015 was _________.
    A. 8 percent B. 2.2 percent C. 13.75 percent D. 3 percent

Answer: Option D
10. What will you call a system of taxation under which the poorer sections are taxed at higher rates than the richer sections?
    A. Progressive tax B. Proportional tax C. Regressive tax D. Degressive tax

Answer: Option C
11. A company faces a -2.5 price elasticity of demand for its product. It is presently selling 10,000 units/month. If it wants to increase quantity sold by 6%, it must lower its price by
    A. 3.50% B. 15% C. 2.50% D. 2.40%

Answer: Option D
12. For each perfectly competitive firm in the long run
    A. price = marginal costs = average variable costs B. price = average profit C. price = marginal costs = minimum average total costs D. price = minimum average variable costs

Answer: Option C
13. If a budget is defeated in the legislature of a state then
    A. The Finance Minister alone has to resign B. The Finance Minister concerned has to be suspended C. The council of Ministers along with the Chief Minister has to resign D. Re­election have to be ordered

Answer: Option C
14. An increase in price of which of these products will have a ripple effect in increasing the prices of many products, thereby resulting in inflation?
    A. Petroleum B. Medicines C. Smartphones D. Automobiles

Answer: Option A
15. Movement along the supply curve is known as ______
    A. Contraction of supply B. Expansion of supply C. Increase in supply D. Expansion and contraction of supply

Answer: Option D

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