Tag: economics

Quizzes (361) Questions (3598)

Questions Related to economics

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Economics is the study of ___________.

  1. how society manages its unlimited resources

  2. how to reduce our wants until we are satisfied

  3. how society manages its scarce resources

  4. how to fully satisfy our unlimited wants
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Economics is the study that establishes an effective relationship between unlimited wants and scarce resources so that all the unlimited wants are mostly satisfied by the use of scarce resources. 
At micro level it deals with individual variables like consumer or producer and how they influence the market. 

At macro level it deals with the overall economic policies, aggregate variables of the economy.

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Amartya Sen won the Nobel Prize for economics in _________.

  1. 1988

  2. 1991

  3. 1998

  4. 2000
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Amartya Sen is an Indian economist who was awarded the 1998 Nobel Prize for Economics for his contributions to welfare economics and social choice theory and for his interest in the problems of society's poorest members. 

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Demographic dividend refers to a phenomenon in which _____________.

  1. life expectancy improves and normally people begin to live longer life

  2. the share of elderly persons in total population rises

  3. the proportion of working age population rises and dominates the age-composition.

  4. the proportion of children in total population rises.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

When the workforce population that ranges from 19-60 years rises in a country in comparison to other age composition it creates an advanced balance in the country's demographics as the production increases due to more contribution of the population. Such situations are known as demographic dividend.

Multiple choice economics constraints in economic development of rajasthan programmes for poverty eradication poverty : challenge facing india poverty as a challenge

Amartya Sen campaigned that the government must intervene more on behalf of the __________.

  1. urban poor

  2. rural poor

  3. poor

  4. illiterate
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

Amartya Sen was an Indian economist who contributed to welfare economics and social choice theory and also established interest in the problems of society's poorest members. He was of the opinion that the government policies should focus on and prioritise the interests of the poor.

Multiple choice international experience of exchange rate systems open economy macroeconomics international economics economics

Who out of the following is not included in "Residents" in BOP transactions ?

  1. Firms

  2. Foreign military personnel

  3. Government agencies

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

In Balance of Payments (BOP) accounting, residents include individuals, firms, and government agencies operating within a country. Foreign military personnel, diplomats, and international organizations are generally excluded from the definition of residents.

Multiple choice international experience of exchange rate systems open economy macroeconomics international economics economics

The Bretton Woods exchange rate system was a three-tier system of currency convertibility. 

  1. True

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

The Bretton Woods system was a system of fixed exchange rates where currencies were pegged to the US dollar, which in turn was convertible to gold. It was not a three-tier system of convertibility.

Multiple choice international experience of exchange rate systems open economy macroeconomics international economics economics

Other things remaining unchanged, when in a country the price of foreign currency rises, national income is __________.

  1. likely to rise

  2. likely to fall

  3. likely to rise and fall both

  4. remain unaffected
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Other things remaining unchanged, when in a country the price of foreign currency rises, national income is likely to rise as it indicates that the greater flow of foreign exchange in the domestic economy promotes higher level of development. Hence, national income rises as the price of foreign currency rises.