With reference to market economy, consider the following statements:
1. All economic activities are organised through the market.
2. In a market system, all goods or services come with a price.
3. Information about how much and what to produce is provided by the government.
Select the correct answer using the code given below:
More Questions Selected Just For You. Attempt Now!
Read the following statements carefully in the context of ‘Gross Domestic Product at Market Prices’:
1. It is the market value of all final goods and services produced within a domestic territory of a country measured in a year.
2. It includes all production done by national residents or the non-residents in a country.
3. It excludes all production done by residents in a country if the production is owned by a foreign company.
Which of the statements given above is/are correct?
Consider the following statements:
1. A surplus current account means that the nation is a lender to other countries and a deficit current account means that the nation is a borrower from other countries.
2. The capital account deals with the change in ownership of a country’s assets, and the current account reflects the change in a country’s net income.
3. Developing nations typically run very large capital account deficits in proportion to their GDP, which are financed by loans and grants on the current account.
Which of the statements given above is/are correct?
Consider the following statements:
1. RBI carries out the Open Market Operations (OMOs) through commercial banks and also directly with the public.
2. If central bank signals that it will move to a ‘neutral’ liquidity stance from a ‘deficit’ stance, it means more liquidity is likely develop in the system in future.
Which of the statements given above is/are correct?
Consider the following statements with reference to the differences between the ‘Real GDP and Nominal GDP’:
1. Nominal GDP is also known as GDP at constant prices.
2. Real GDP is Nominal GDP adjusted for inflation.
3. Nominal GDP growth is higher than real GDP growth.
Which of the statements given above are correct?
Consider the following statements:
1. Gross Domestic Product (GDP) at factor cost is gross domestic product at market prices, less net product taxes.
2. Gross Domestic Product (GDP) at factor cost measures final value of output produced by the firms within the domestic boundaries of a country in a year.
Which of the statements given above is/are correct?
Consider the following statements:
1. It issues currency of the country.
2. It controls money supply of the country.
3. It acts as a banker to the government.
4. It acts as a bank to the banking system.
5. It is the lender of last resort.
Which of the statements given above correctly define the functions of ‘Reserve Bank of India’?
Which of the following economic terms reflects the total borrowing requirement of the Government?
1. Fiscal Deficit
2. Revenue Deficit
3. Effective Revenue Deficit
4. Primary Deficit
Select the correct answer using the code given below:
Consider the following statements about the ‘Cash Reserve Ratio (CRR)’:
1. It is the percentage of deposits which every bank must keep as cash reserves with the central bank.
2. Banks cannot lend the CRR money to corporates or individual borrowers but they can use that money for investment purposes.
3. Banks earn interest on the CRR money kept with the central bank.
Which of the statements given above is/are correct?
Which among the following are the effects of Globalisation?
1. Increase in employment opportunities.
2. Upliftment of standards of living.
3. Reduction in economic disparities.
4. Rising income of the masses.
Select the correct answer using the code given below:
In context of economic theory, a perfectly competitive market will have which of the following defining features?
1. The market consists of a large number of buyers and sellers.
2. Each firm can produce and sell all types of products.
3. Entry into the market as well as exit from the market are free for firms.
Select the correct answer using the code given below: