Tag: nature and scope of economics

Questions Related to nature and scope of economics

A pattern of low income and low economic growth which tend to perpetuate itself is known as ________.

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. sterilization

  2. vicious circle of under-development

  3. transmission mechanism

  4. stabilization

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Correct Option: B

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