1868 + Interview Questions in Economics Page 36 InterviewSolution

1751.	SECC paves the way to identify the households living below the poverty line in rural and urban areas of the country. Which of the following households will not have the highest priority for inclusion in the BPL list:
Answer» SECC paves the way to identify the households living below the poverty line in rural and urban areas of the country. Which of the following households will not have the highest priority for inclusion in the BPL list:

Discussion

1752.	Which of these was the focus of the third plan?
Answer» Which of these was the focus of the third plan?

Discussion

1753.	Lichens are described as indicators of
Answer» Lichens are described as indicators of

Discussion

1754.	Expand WTO.
Answer» Expand WTO.

Discussion

1755.	Discuss the major trends in India's foreign trade. Also list the major products that India trades with other countries.
Answer» Discuss the major trends in India's foreign trade. Also list the major products that India trades with other countries.

Discussion

1756.	What is meant by collusive oligopoly?
Answer» What is meant by collusive oligopoly?

Discussion

1757.	The diagram given below shows the equilibrium of a producer: (i) Find out whether it is the equilibrium of a purely competitive producer or a producer under monopoly. (ii) What is the equilibrium level of output? (iii) Find out the profits at the equilibrium level of output.
Answer» The diagram given below shows the equilibrium of a producer: (i) Find out whether it is the equilibrium of a purely competitive producer or a producer under monopoly. (ii) What is the equilibrium level of output? (iii) Find out the profits at the equilibrium level of output.

Discussion

1758.	Suppose that the following headlines appeared in a newspaper. Which would most clearly represent a macroeconomic issue?
Answer» Suppose that the following headlines appeared in a newspaper. Which would most clearly represent a macroeconomic issue?

Discussion

1759.	Explain briefly the concept of Business, Profession and Employment.
Answer» Explain briefly the concept of Business, Profession and Employment.

Discussion

1760.	Which of these are obstacles facing agricultural marketing?
Answer» Which of these are obstacles facing agricultural marketing?

Discussion

1761.	PPC is a straight line in case of
Answer» PPC is a straight line in case of

Discussion

1762.	Why are the chances of dead stock reduced in case of chain stores?
Answer» Why are the chances of dead stock reduced in case of chain stores?

Discussion

1763.	Journalise the following transactions in the books of Harpreet Bros (a) Rs 1,000 due from Rohit are now bad debts. (b) Goods worth Rs 2,000 were used by the proprietor. (c) Charge depreciation 10% per annum for two months on machine costing Rs 30,000. (d) Provide interest on capital of Rs 1,50,000 at 6% per month for 9 months. (e) Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.
Answer» Journalise the following transactions in the books of Harpreet Bros (a) Rs 1,000 due from Rohit are now bad debts. (b) Goods worth Rs 2,000 were used by the proprietor. (c) Charge depreciation $10 %$ per annum for two months on machine costing Rs 30,000. (d) Provide interest on capital of Rs 1,50,000 at $6 %$ per month for 9 months. (e) Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.

1763.

Journalise the following transactions in the books of Harpreet Bros (a) Rs 1,000 due from Rohit are now bad debts. (b) Goods worth Rs 2,000 were used by the proprietor. (c) Charge depreciation 10% per annum for two months on machine costing Rs 30,000. (d) Provide interest on capital of Rs 1,50,000 at 6% per month for 9 months. (e) Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.

Answer»

Journalise the following transactions in the books of Harpreet Bros

(a) Rs 1,000 due from Rohit are now bad debts.

(b) Goods worth Rs 2,000 were used by the proprietor.

(c) Charge depreciation $10 %$ per annum for two months on machine costing Rs 30,000.

(d) Provide interest on capital of Rs 1,50,000 at $6 %$ per month for 9 months.

(e) Rahul become insolvent, who owed is Rs 2,000 a final dividend of 60 paise in a rupee is received from his estate.

Discussion

1764.	Q44. ‘India State Level Disease Burden’ report is released by-
Answer» Q44. ‘India State Level Disease Burden’ report is released by-

Discussion

1765.	Input: car on star quick demand fat What will be the third step for this input?
Answer» Input: car on star quick demand fat What will be the third step for this input?

1765.

Input: car on star quick demand fat What will be the third step for this input?

Answer»

Input: car on star quick demand fat

What will be the third step for this input?

Discussion

1766.	How many days of guaranteed employment will be given in a financial year under MGNREGA?
Answer» How many days of guaranteed employment will be given in a financial year under MGNREGA?

Discussion

1767.	What did Russia and China have similar reforms in, in agriculture?
Answer» What did Russia and China have similar reforms in, in agriculture?

Discussion

1768.	A monopoly firm can choose to sell at any price-output combination that ________.
Answer» A monopoly firm can choose to sell at any price-output combination that ________.

Discussion

1769.	What is the list of economic reforms prescribed the IMF, World Bank and the US Treasury to help countries come out of an economic crisis?
Answer» What is the list of economic reforms prescribed the IMF, World Bank and the US Treasury to help countries come out of an economic crisis?

Discussion

1770.	Which of the following are sources of methane, a greenhouse gas?
Answer» Which of the following are sources of methane, a greenhouse gas?

Discussion

1771.	What are your reasons for studying Economics?
Answer» What are your reasons for studying Economics?

Discussion

1772.	In the development model of USA and Britain, one of the biggest innovations was in the sector of:
Answer» In the development model of USA and Britain, one of the biggest innovations was in the sector of:

Discussion

1773.	What is the shape of the demand curve under monopolistic competition?
Answer» What is the shape of the demand curve under monopolistic competition?

Discussion

1774.	Explain briefly producer's equilibrium with the help of total revenue and total cost
Answer» Explain briefly producer's equilibrium with the help of total revenue and total cost

Discussion

1775.	India had a large export surplus under the colonial rule. However, the Indian economy did not benefit from this. Why?
Answer» India had a large export surplus under the colonial rule. However, the Indian economy did not benefit from this. Why?

Discussion

1776.	Explain how price is determined in a perfectly competitive market with a fixed number of firms.
Answer» Explain how price is determined in a perfectly competitive market with a fixed number of firms.

Discussion

1777.	What kind of product was manufactured by the Union Carbide plant in Bhopal, India?
Answer» What kind of product was manufactured by the Union Carbide plant in Bhopal, India?

Discussion

1778.	Which of the following was the focal point of trade for India and China before colonization?
Answer» Which of the following was the focal point of trade for India and China before colonization?

Discussion

1779.	A batsman is to be selected for a cricket team.The choice is between X and Y on the basis of their scores in five previous scores which are X25854080120Y5070654580 Which batsman should be selected if we want, (i) a higher run getter, or (ii) a more reliable batsman in the team?
Answer» A batsman is to be selected for a cricket team.The choice is between X and Y on the basis of their scores in five previous scores which are $\begin{matrix} X & 25 & 85 & 40 & 80 & 120 Y & 50 & 70 & 65 & 45 & 80 \end{matrix}$ Which batsman should be selected if we want, (i) a higher run getter, or (ii) a more reliable batsman in the team?

1779.

A batsman is to be selected for a cricket team.The choice is between X and Y on the basis of their scores in five previous scores which are X25854080120Y5070654580 Which batsman should be selected if we want, (i) a higher run getter, or (ii) a more reliable batsman in the team?

Answer»

A batsman is to be selected for a cricket team.The choice is between X and Y on the basis of their scores in five previous scores which are

$\begin{matrix} X & 25 & 85 & 40 & 80 & 120 Y & 50 & 70 & 65 & 45 & 80 \end{matrix}$

Which batsman should be selected if we want,

(i) a higher run getter, or

(ii) a more reliable batsman in the team?

Discussion

1780.	In which mode of production are market forces of supply and demand the key players?
Answer» In which mode of production are market forces of supply and demand the key players?

Discussion

1781.	Suppose your friend is indifferent to the bundles (5, 6) and (6, 6). Are the preferences of your friend monotonic?
Answer» Suppose your friend is indifferent to the bundles (5, 6) and (6, 6). Are the preferences of your friend monotonic?

Discussion

1782.	Can there be some fixed cost in the long run? If not, state why.
Answer» Can there be some fixed cost in the long run? If not, state why.

Discussion

1783.	Q25. Which of the following statements are correct? 1. A mixed economy refers to market economy with strong regulatory oversight and governmental provision of public goods. 2. A socialist economic system is characterized by social ownership and democratic control of the means of production. 3. Capitalism is an economic system in which capital goods are owned by private individuals. 4. Marxian economics provided a foundation for capitalism.
Answer» Q25. Which of the following statements are correct? 1. A mixed economy refers to market economy with strong regulatory oversight and governmental provision of public goods. 2. A socialist economic system is characterized by social ownership and democratic control of the means of production. 3. Capitalism is an economic system in which capital goods are owned by private individuals. 4. Marxian economics provided a foundation for capitalism.

1783.

Q25. Which of the following statements are correct? 1. A mixed economy refers to market economy with strong regulatory oversight and governmental provision of public goods. 2. A socialist economic system is characterized by social ownership and democratic control of the means of production. 3. Capitalism is an economic system in which capital goods are owned by private individuals. 4. Marxian economics provided a foundation for capitalism.

Answer»

Q25. Which of the following statements are correct?

1. A mixed economy refers to market economy with strong regulatory oversight and governmental provision of public goods.

2. A socialist economic system is characterized by social ownership and democratic control of the means of production.

3. Capitalism is an economic system in which capital goods are owned by private individuals.

4. Marxian economics provided a foundation for capitalism.

Discussion

1784.	There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total supply at that price?
Answer» There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total supply at that price?

Discussion

1785.	Suppose that a firm produces 200,000 units a year and sells them all for Rs 10 each. The explicit costs of production are Rs 1,500,000 and the implicit costs of production are Rs 300,000. The economic and accounting profits for the firm are respectively.
Answer» Suppose that a firm produces 200,000 units a year and sells them all for Rs 10 each. The explicit costs of production are Rs 1,500,000 and the implicit costs of production are Rs 300,000. The economic and accounting profits for the firm are respectively.

Discussion

1786.	Q33. Which of the following are the determinants for MSP: 1. Cost of production 2. Terms of trade between agriculture and non-agriculture sectors 3. Inter-crop price parity 4. Demand and supply conditions Select the correct answer using the codes given:
Answer» Q33. Which of the following are the determinants for MSP: 1. Cost of production 2. Terms of trade between agriculture and non-agriculture sectors 3. Inter-crop price parity 4. Demand and supply conditions Select the correct answer using the codes given:

1786.

Q33. Which of the following are the determinants for MSP: 1. Cost of production 2. Terms of trade between agriculture and non-agriculture sectors 3. Inter-crop price parity 4. Demand and supply conditions Select the correct answer using the codes given:

Answer»

Q33. Which of the following are the determinants for MSP:

1. Cost of production

2. Terms of trade between agriculture and non-agriculture sectors

3. Inter-crop price parity

4. Demand and supply conditions

Select the correct answer using the codes given:

Discussion

1787.	Which term is used to describe a situation where the inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high?
Answer» Which term is used to describe a situation where the inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high?

Discussion

1788.	Which is the correct formula for SMC?
Answer» Which is the correct formula for SMC?

Discussion

1789.	A key difference between the development observed in USA and that in Britain is:
Answer» A key difference between the development observed in USA and that in Britain is:

Discussion

1790.	Distinguish between a change in quantity supplied and a change in supply.
Answer» Distinguish between a change in quantity supplied and a change in supply.

Discussion

1791.	With regard to foreign exchange, the Washington Consensus advised that the rupee must undergo:
Answer» With regard to foreign exchange, the Washington Consensus advised that the rupee must undergo:

Discussion

1792.	The TR curve is a ___ .
Answer» The TR curve is a ___ .

Discussion

1793.	Which of the following statements about price elasticity of demand is INCORRECT?
Answer» Which of the following statements about price elasticity of demand is INCORRECT?

Discussion

1794.	The market for audio cassettes has inverse supply and demand curves given by P=2Qs and P= 42 -Qd. Calculate the equilibrium price.
Answer» The market for audio cassettes has inverse supply and demand curves given by P=2Qs and P= 42 -Qd. Calculate the equilibrium price.

Discussion

1795.	Which of the following refers to a percentage change in the quantity supplied of a commodity in response to a percentage change in its price?
Answer» Which of the following refers to a percentage change in the quantity supplied of a commodity in response to a percentage change in its price?

Discussion

1796.	How can we better deal with peak power deficits?
Answer» How can we better deal with peak power deficits?

Discussion

1797.	Explain the implications of the following: (i) Freedom of entry and exit to firms under perfect competition. (ii) Interdependence between firms under oligopoly.
Answer» Explain the implications of the following: (i) Freedom of entry and exit to firms under perfect competition. (ii) Interdependence between firms under oligopoly.

1797.

Explain the implications of the following: (i) Freedom of entry and exit to firms under perfect competition. (ii) Interdependence between firms under oligopoly.

Answer»

Explain the implications of the following:

(i) Freedom of entry and exit to firms under perfect competition.

(ii) Interdependence between firms under oligopoly.

Discussion

1798.	Calculate Q1 and Q3 from the following table : Wages (Rs)0−55−1010−1515−2020−2525−30No. of Workers4638127
Answer» Calculate $Q_{1}$ and $Q_{3}$ from the following table : $\begin{matrix} Wages (Rs) & 0 - 5 & 5 - 10 & 10 - 15 & 15 - 20 & 20 - 25 & 25 - 30 No. of Workers & 4 & 6 & 3 & 8 & 12 & 7 \end{matrix}$

1798.

Calculate Q1 and Q3 from the following table : Wages (Rs)0−55−1010−1515−2020−2525−30No. of Workers4638127

Answer»

Calculate $Q_{1}$ and $Q_{3}$ from the following table :

$\begin{matrix} Wages (Rs) & 0 - 5 & 5 - 10 & 10 - 15 & 15 - 20 & 20 - 25 & 25 - 30 No. of Workers & 4 & 6 & 3 & 8 & 12 & 7 \end{matrix}$

Discussion

1799.	How many countries signed the GATT when it was established?
Answer» How many countries signed the GATT when it was established?

Discussion

1800.	"LPG" stands for:
Answer» "LPG" stands for:

Discussion

Explore topic-wise InterviewSolutions in .

SECC paves the way to identify the households living below the poverty line in rural and urban areas of the country. Which of the following households will not have the highest priority for inclusion in the BPL list:

Which of these was the focus of the third plan?

Lichens are described as indicators of

Expand WTO.

Discuss the major trends in India's foreign trade. Also list the major products that India trades with other countries.

What is meant by collusive oligopoly?

The diagram given below shows the equilibrium of a producer: (i) Find out whether it is the equilibrium of a purely competitive producer or a producer under monopoly. (ii) What is the equilibrium level of output? (iii) Find out the profits at the equilibrium level of output.

Suppose that the following headlines appeared in a newspaper. Which would most clearly represent a macroeconomic issue?

Explain briefly the concept of Business, Profession and Employment.

Which of these are obstacles facing agricultural marketing?

PPC is a straight line in case of

Why are the chances of dead stock reduced in case of chain stores?

Q44. ‘India State Level Disease Burden’ report is released by-

Input: car on star quick demand fat What will be the third step for this input?

How many days of guaranteed employment will be given in a financial year under MGNREGA?

What did Russia and China have similar reforms in, in agriculture?

A monopoly firm can choose to sell at any price-output combination that ________.

What is the list of economic reforms prescribed the IMF, World Bank and the US Treasury to help countries come out of an economic crisis?

Which of the following are sources of methane, a greenhouse gas?

What are your reasons for studying Economics?

In the development model of USA and Britain, one of the biggest innovations was in the sector of:

What is the shape of the demand curve under monopolistic competition?

Explain briefly producer's equilibrium with the help of total revenue and total cost

India had a large export surplus under the colonial rule. However, the Indian economy did not benefit from this. Why?

Explain how price is determined in a perfectly competitive market with a fixed number of firms.

What kind of product was manufactured by the Union Carbide plant in Bhopal, India?

Which of the following was the focal point of trade for India and China before colonization?

A batsman is to be selected for a cricket team.The choice is between X and Y on the basis of their scores in five previous scores which are X25854080120Y5070654580 Which batsman should be selected if we want, (i) a higher run getter, or (ii) a more reliable batsman in the team?

In which mode of production are market forces of supply and demand the key players?

Suppose your friend is indifferent to the bundles (5, 6) and (6, 6). Are the preferences of your friend monotonic?

Can there be some fixed cost in the long run? If not, state why.

There are 20 identical firms in a market. At a price of Rs 20, firm 1 supplies 25 units of a good, What is the total supply at that price?

Suppose that a firm produces 200,000 units a year and sells them all for Rs 10 each. The explicit costs of production are Rs 1,500,000 and the implicit costs of production are Rs 300,000. The economic and accounting profits for the firm are respectively.

Q33. Which of the following are the determinants for MSP: 1. Cost of production 2. Terms of trade between agriculture and non-agriculture sectors 3. Inter-crop price parity 4. Demand and supply conditions Select the correct answer using the codes given:

Which term is used to describe a situation where the inflation rate is high, the economic growth rate slows down, and unemployment remains steadily high?

Which is the correct formula for SMC?

A key difference between the development observed in USA and that in Britain is:

Distinguish between a change in quantity supplied and a change in supply.

With regard to foreign exchange, the Washington Consensus advised that the rupee must undergo:

The TR curve is a ___ .

Which of the following statements about price elasticity of demand is INCORRECT?

The market for audio cassettes has inverse supply and demand curves given by P=2Qs and P= 42 -Qd. Calculate the equilibrium price.

Which of the following refers to a percentage change in the quantity supplied of a commodity in response to a percentage change in its price?

How can we better deal with peak power deficits?

Explain the implications of the following: (i) Freedom of entry and exit to firms under perfect competition. (ii) Interdependence between firms under oligopoly.

Calculate Q1 and Q3 from the following table : Wages (Rs)0−55−1010−1515−2020−2525−30No. of Workers4638127

How many countries signed the GATT when it was established?

"LPG" stands for: