Tag: business economics and quantitative methods

Questions Related to business economics and quantitative methods

Statistics is useful to State Authorities as it helps them in formulating ______________.

business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

  1. fiscal policies

  2. personal policies

  3. training policies

  4. All of the above

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Correct Option: D

Who is responsible for collecting & presenting statistics in India ________.

business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

  1. ISI

  2. CSO

  3. ICAER

  4. NCERT

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Correct Option: B

In India, in which of the following, Foreign Direct Investment (FDI) is not allowed?

business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

  1. Construction and Maintenance of Roads

  2. Atomic Energy

  3. Airport

  4. Hotels and Tourism

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Correct Option: B

Which of the following pairs is not correctly matched?

business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

  1. WTO - Generally forbids the use of quantitative restrictions on trade

  2. IMF - Provides finance to correct disequilibrium in balance of payments

  3. RBI - Promotes trade among countries

  4. IBRD - Gives long term loans for development

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Correct Option: C
Explanation:

Option C incorrectly matched as RBI promotes monetary policy in India and the WTO promotes trade among countries.

An economy is underdeveloped if __________.

business economics and quantitative methods nature and scope of economics definition, scope, importance and limitation of statistics introduction - statistics for economics meaning and definition of statistics

  1. the standard of living is poor

  2. the population is growing at a high rate

  3. the main occupation of a majority of the population is agriculture

  4. all of the above

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Correct Option: D

Are the following statements true or false? Give reasons.
Production of services for self-consumption are not included in national income. 

business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

  1. True

  2. False

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Correct Option: A
Explanation:

Such services are not included in national income as It is difficult to ascertain their market value and they are not rendered for earning income. 

When planned savings is less than planned investment, then: 

business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

  1. national income is likely to fall

  2. there will be no change in national income

  3. national income is likely to rise

  4. none of the above

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Correct Option: A

Self employed people generally earn mixed income.

business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

  1. True

  2. False

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Correct Option: A

In small sector net value added is estimated by ________.

business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

  1. income method

  2. expenditure method

  3. production method

  4. survey method

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Correct Option: A

Net income from abroad should be added in the national income.

business economics and quantitative methods measurement of national income methods of national income methods of measuring national income national income analysis

  1. True

  2. False

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Correct Option: A