Important One Liner Economics 500 Question

Important One Liner Economics 500 Question

1. 1. ‘Nav-Malthusian theory related to- lack of resources
   2. The expenditure incurred by an entrepreneur on advertising and public relations is part of its expenditure – Intermediate consumption
   3. On what methodology is the planned economy in India – socialist system
   4. What do we know when considering Giffen and substandard goods – Giffen goods must also be cheap.
   5. Demand for substandard goods falls when income increases.
   6. Average variable cost curve …… are shaped by –U
   7. In which rule it has been said that as incomes increase with constant taste and preferences, the proportion of income spent on food items decreases- Angel rule
   8. Those goods which are either fixed for consumption or investment, what are called – end goods
   9. In which period of extreme recession came – the year 1929-34
   10. Who can fix India’s balance of payments – currency devaluation, strong export promotion, import substitution
   11. Devaluation of currency results in increase in exports and improvement in balance of payments.
   12. Which tax is collected by the Central Government- Income tax, customs duty, production duty
   13. Whose losses are financed by net capital flows received from abroad, thus capital account is more – current account
   14. Fiscal policy is concerned with- the income and expenditure of the government
   15. Taxation is a tool – fiscal policy
   16. Which method is used to determine the national income of a country – income system, production system, input system
   17. Who is not included while estimating national income by income method – Pension
   18. What is meant by personal disposable income- Personal Income – Direct Tax
   19. Economic progress of the country is determined on the basis of – increase in per capita income of the country
   20. Real life standard of an individual can be estimated by per capita income.
   21. Economic growth is related to- Continuous growth of real income per capita in an economy for some period
   22. When income increases, in what proportion does consumption also increase – in low proportion
   23. National income is made up of – by any production activity
   24. Estimates of national income in India are prepared – by the Central Statistical Organization
   25. Multinational firms – are a company practiced in many countries.

Polity 500 One Liner Questions And Answers