Fundamentals of Macroeconomics - MCQs with answers - Part III
Fundamentals of Macroeconomics - MCQs with answers - Part III
1) Which Indian state has the highest GDP for 2012-13?a) Gujarat
b) Uttar Pradesh
c) Madhya Pradesh
d) Maharashtra
View Answer / Hide AnswerANSWER: d) Maharashtra
GDP of Maharashtra is around 1,372,644 crore for 2012-2013. Lakshwadeep has the lowest GDP at around 60 million dollars
a) 3rd
b) 5th
c) 10th
d) 17th
View Answer / Hide AnswerANSWER: c) 10th
USA ranks first in the first in the world in terms of its nominal GDP
a) 3rd
b) 5th
c) 10th
d) 17th
View Answer / Hide AnswerANSWER: a) 3rd
PPP refers to the relative values of currencies
a) Mumbai
b) Delhi
c) Bangalore
d) Gurgaon
View Answer / Hide Answer5) What is India's growth rate for the 2013 - 14 fiscal year?a) 5.7%
b) 6.7 %
c) 2.6%
d) 4.7 %
View Answer / Hide Answer6) A market in which there is only one seller of a good is known as:a) monopoly
b) monopsony
c) duopoly
d) perfectly competitive
View Answer / Hide Answer7) A market in which there are only 2 sellers of a good is known as:a) monopoly
b) monopsony
c) duopoly
d) perfectly competitive
View Answer / Hide Answer8) Das Kapital, published in German in 1867, was authored by:a) Karl Marx
b) John Maynard Keynes
c) F. Hayek
d) Samuelson
View Answer / Hide Answer9) Which economist is famous for his theory of comparative advantage?a) Karl Marx
b) John Maynard Keynes
c) F. Hayek
d) David Ricardo
View Answer / Hide AnswerANSWER: d) David Ricardo
David Ricardo was a British political economist and his most famous theory was that of comparative advantage. Comparative advantage refers to the doctrine that any nation should use its resources solely in industries where it has the most international competitiveness
a) 3rd
b) 52nd
c) 134th
d) 178th
View Answer / Hide AnswerANSWER: c) 134th
A higher rank in 'Ease of doing business index' means a that there are lesser regulations for a company that might hinder its growth and also strong property rights
a) a term denoting economic transactions carried out by the State/government
b) economic transactions in private parties where there is no intervention by the State/government
c) a branch of socialism focusing on welfare economics
d) None of the above
View Answer / Hide AnswerANSWER: b) economic transactions in private parties where there is no intervention by the State/government
