Economics QUESTIONS AND ANSWERS

General Knowledge : Economics QUESTIONS AND ANSWERS :: part5 : 31 to 35

Following General Knowledge Multiple choice objective type questions and answers will help you in TRB, SSC and UPSC 2024 examinations :

31.What is "" Recession"" ?

Rise in the cost of production, especially because of wage increases

Increase in money supply without a matching increase in production

Increase in money supply and employment for want of sufficient demand for goods

None of these

32.Elasticity of demand explains the relationship between

income and quantity demand

price of a commodity and quantity demanded

utility of the commodity and quantity demanded

price of substitutes and quantity demanded

33.Gadgil Formula refers to the allocation of

market borrowings between the states

Central Plan assistance between the states

tax proceeds between the states

foreign aid between the Centre and states

34.Additional Dearness Allowances is granted by the government on the basis of increase in

rate of inflation

whole sale price index

price of foodstuffs

consumer price indes

35.The value of money price depreciates when

the denomination of the standard coin increases

the general price level rises

the foreign value of the standard coin rises

None of these

More Economics QUESTIONS AND ANSWERS available in next pages

Health is the greatest gift, contentment is the greatest wealth -Buddha

Opportunity is missed by most people because it is dressed in overalls and looks like work.- Thomas Edison

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