Tag: business economics and quantitative methods

Quizzes (24) Questions (932)

Questions Related to business economics and quantitative methods

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Statistics is useful to State Authorities as it helps them in formulating ______________.

  1. fiscal policies

  2. personal policies

  3. training policies

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Statistics provides the empirical evidence necessary for state authorities to formulate effective fiscal, personnel, and training policies. It is essential for evidence-based governance.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Who is responsible for collecting & presenting statistics in India ________.

  1. ISI

  2. CSO

  3. ICAER

  4. NCERT
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The Central Statistics Office (CSO) is the primary government agency in India responsible for the collection, coordination, and publication of statistical data.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

In India, in which of the following, Foreign Direct Investment (FDI) is not allowed?

  1. Construction and Maintenance of Roads

  2. Atomic Energy

  3. Airport

  4. Hotels and Tourism
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

In India, Foreign Direct Investment (FDI) is prohibited in atomic energy for national security reasons. It is allowed in most other sectors like infrastructure and tourism.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

Which of the following pairs is not correctly matched?

  1. WTO - Generally forbids the use of quantitative restrictions on trade

  2. IMF - Provides finance to correct disequilibrium in balance of payments

  3. RBI - Promotes trade among countries

  4. IBRD - Gives long term loans for development
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Option C incorrectly matched as RBI promotes monetary policy in India and the WTO promotes trade among countries.

Multiple choice business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

An economy is underdeveloped if __________.

  1. the standard of living is poor

  2. the population is growing at a high rate

  3. the main occupation of a majority of the population is agriculture

  4. all of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Underdeveloped economies are typically characterized by low standards of living, high population growth rates, and a heavy reliance on agriculture, among other factors.

Multiple choice business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

Are the following statements true or false? Give reasons.
Production of services for self-consumption are not included in national income. 

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Such services are not included in national income as It is difficult to ascertain their market value and they are not rendered for earning income. 

Multiple choice business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

When planned savings is less than planned investment, then: 

  1. national income is likely to fall

  2. there will be no change in national income

  3. national income is likely to rise

  4. none of the above
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

According to Keynesian macroeconomic theory, when planned savings fall short of planned investment, aggregate demand exceeds aggregate output. This discrepancy leads to unintended inventory depletion, prompting firms to increase production and causing national income to rise.

Multiple choice business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

Net income from abroad should be added in the national income.

  1. True

  2. False
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

National income (specifically GNP or GNI) includes net factor income from abroad, which is the difference between factor income earned by residents from abroad and factor income earned by non-residents domestically.