Some important one-liner of Economics

Some important one-liner of Economics

  • Deficit Financing:- Increases money -supply.
  • State Bank of India was formerly known as:- Imperial Bank of India.
  • SEBI is the acronym of:- Security and Exchange board of India.
  •  Sellers market denotes a situation where:- Demands Exceeds Supply.
  • Legal tender money refers to:- Currency notes
  • The relationship between the value of money and the price level in an economy is:- Inverse.
  • Stagflation is a situation of:- Stagnation & Inflation.
  • Depreciation is equal to :- Gross National Products- Net national Products.
  • Sales Tax is an example of:- Indirect Tax.
  • Removing barriers a restrictions set by the govt is:- Liberalization.
  • In which type of economy national income and domestic income is equal:- Closed Economy.
  • The term capital consumption allowance means:- Depreciation value of capital goods.
  • New economy policy was introduced in india in 24 July 1991 by:- Dr manmohan singh.
  • The best example of capital intensive industry in India is:- Steel industry.
  • India’s Balance of payments can be corrected through:- Devaluation of currency various expert promotion and import substitution.
  • Golden Handshake scheme is associated with:- Voluntary retirement.
  • Inflation redistribution income and weak in favor of:- middle class.
  • The fringe benefit tax was introduced in the budget of :- 2005-2006
  • The simultaneous existence of high rate of inflation and high rate of unemployment
  • Is called:- Stagflation.
  • Less economic growth:- Stagnation ( Unemployment)
  • Decrease of price of goods:- Deflation.
  • Hard currency:- Which is paid in lieu of debt.
  • Wind fall gains means:- Sudden rise in price.
  • Inequalities in the distribution of income is measured by:- Lorentz Curve.
  • Demand for complementary goods is known as:- Joint Demand.
  • Gross domestic product is the monetary value of:- All final goods and service produced in a year.
  • Which of the following market structures has a kinked demand curve:- Monopoly.
  • Which is not a canon of taxation according to Adam Smith:- Canon of certainty.
  • Defective demand depends on:- Supply Price.
  • The degree of monopoly power is to be measured in terms of the firms:- Super normal profit.
  •  Who propounded the innovation theory of profit:- J.A Schumpeter.
  • The exchange of commodities between two countries is referred as :- Bilateral Trade.
  • The term “Micro economic” and Macro Economic were coined by:- J.M.Keynes ( modern Economist).
  • During period of inflation tax should be:- Increased.
  • “Economic” is what it ought to be” this statement refers to :-“ Monetary  Economics”
  • The excess of price a price a person is to pay rather than forego the consumption of the commodity is called:- Consumer’s surplus.
  • Professor Amartya sen was awarded Nobel Prize for his contribution to the field of :- Welfare Economic.
  • The process of curing inflation by reducing money supply is called:- Disinflation
  • Removing barriers or restriction set by the Govt is known as :- Liberalization.
  • Which one of the following is the effective remedy to the evils of sub division and fragmentation:- Land Consolidation.
  • Demand Curve of a curve of a firm under perfect competition is:- Horizontal to X-axis.
  • When Income increase consumption also increase:- In a lower proportion.
  • The difference inn te value of visible exports and visible imports is called:- Balance of trade.
  • The liquidity preference theory of interest was propounded by:- J.M.Keynes.
  • Which cost is related to marginal cost:- Variable cost.
  • The business in stock markets and other securities markets is regulated by:- Securities and exchange board of India (SEBI).

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