Tag: economics

Questions Related to economics

Economics is the study of ___________.

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

  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

Show answer
Correct Option: C
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.

Amartya Sen won the Nobel Prize for economics in _________.

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

  1. 1988

  2. 1991

  3. 1998

  4. 2000

Show answer
Correct Option: C
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. 

Demographic dividend refers to a phenomenon in which _____________.

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

  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.

Show answer
Correct Option: C
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.

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

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

  1. urban poor

  2. rural poor

  3. poor

  4. illiterate

Show answer
Correct Option: C
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.

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

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

  1. Firms

  2. Foreign military personnel

  3. Government agencies

  4. Individuals

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Correct Option: B

Gold standard exchange rate regime was a flexible exchange rate regime.

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

  1. True

  2. False

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Correct Option: A

Under the gold standard, all currencies were defined in terms of _____________.

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

  1. brass

  2. bronze

  3. silver

  4. gold

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Correct Option: D

Primary gold is of ____ carat.

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

  1. 22

  2. 23

  3. 24

  4. 18

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Correct Option: C

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

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

  1. True

  2. False

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Correct Option: B

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

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

  1. likely to rise

  2. likely to fall

  3. likely to rise and fall both

  4. remain unaffected

Show answer
Correct Option: A
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.