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Consider the following statements:
1. Profit is the difference between total revenue and total cost.
2. With the increase in output the total profit of the company always increases.
Which of the statement(s) given above is/are correct?
Consider the following statements:
1. The demand for every good in the market has a direct relationship with increase or decrease in its price.
2. Price elasticity is a measure of the change in demand of product/service in response to changes in income of consumers.
Which of the statement(s) given above is/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. 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?
In context of a centrally planned economy, consider the following statements:
1. The government always intervenes to achieve an equitable distribution of the final mix of goods and services amongst the population.
2. All important decisions regarding production, exchange and consumption of goods and services are made by the government.
Which of the statement(s) given above is/are correct?
Consider the following statements:
1. In microeconomics, we study the behaviour of individual economic agents in the markets for different goods and services.
2. In macroeconomics, focus is on the overall performance of the economy.
Which of the statement(s) given above is/are NOT correct?
Consider the following statements with reference to ‘Balance of Trade (BOT)’:
1. Difference between value of exports and value of imports of goods of a country in a given period of time.
2. Difference between the value of exports and value of imports of services of a country in a given period of time.
3. Difference between the value of exports and value of imports of services and assets of a country in a given period of time.
4. Difference between the value of capital account and the value of current account of a country in a given period of time.
Which of the statements given above correctly defines the term ‘Balance of Trade (BOT)’?
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’?
Consider the following statements:
1. Reserve Bank of India allowed stock exchanges to start the T+1 Settlement system for completion of share transactions.
2. T+1 settlement system will help in reducing the number of outstanding unsettled trades at any instant.
3. A shortened cycle not only reduces settlement time but also frees up the capital required to collateralize that risk.
Which of the statement(s) given above is/are correct?
To meet the requirements of the fiscal deficit, the Union government not only borrows directly from the public through debt instruments but also indirectly from commercial banks through: