Economics: Multiple Choice Questions with Answers

61. Which of the following is not required while calculating GNP?

A. Net Foreign Investment

B. Private Investment

C. Per Capita Income of citizens

D. Purchase of goods by Govt.

62. When aggregate supply exceeds aggregate demand –

A. unemployment falls

B. prices rise

C. inventories accumulate

D. Unemployment develops

63. The demand for labor is called?

A. Market Demand

B. Direct Demand

C. Derived Demand

D. Factory Demand

64. Which among the following is NOT a correct statement?

A. Welfare economics is based on value judgments.

B. Welfare economics is also called ‘economics with a heart’.

C. Welfare economics focuses on questions about equity as well as efficiency.

D. The founder of Welfare economics was Alfred Marshall.

65. Who is the ‘lender of the last resort’ in the banking structure of India?

A. State Bank of India

B. Reserve Bank of India

C. EXIM Bank of India

D. Union Bank of India

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