Important One Liner Economics 500 Question – Gk By Mr. DJ
401.Cash reserve ratio and variance in open market operations, whose means are – monetary policy.
402.World Trade Organization was established in – 1995
403.WTO primarily promotes whom – multilateral trade
404.Who are the main watchdogs of international trade – World Trade Organization
405.Bridging At what level of price-differentiation – international level
406.Foreign goods are sold for less than- the domestic selling price.
407.Who first used the terms ‘micro’ and ‘macro’ in economics in 1933 – Regner Christian
408.Who was, “Economics is the science of money” – Adam Smith
409.What is the record of all the economic transactions done in a year between the residents of a country and the rest of the world – payment remaining
410.Taxes are as sure as death, because – they constitute the main source of government revenue.
411.What are the basic objectives of all types of products- meeting human needs
412.When there is an official change in the exchange rate of the domestic currency, it is called – revaluation
413.‘Consumer dominance’ means – consumers are free to spend their income as they wish.
414.When exactly does the equilibrium price of a commodity increase — there is a decrease in supply as well as an increase in demand.
415.On which expenditure of the Government of India is the maximum due to subsidy- Oil
416.National income of a nation is – the sum of the production incomes.
417.Which sector contributes the most to India’s national income – Service sector
418.Producer goods are also called- capital goods
419.An anonymity given to a customer of a bank for deducting a check in excess of the deposit in his current account is called – overdraft
420.Whose demand is absolutely without elasticity- zero
421.Who is paid by the financial aid to the government- productive units
422.When the absolute product increases at increasing rate, then – the marginal product increases
423.‘Quantitative advantage’ means – reduction in unit cost of production
424.The revealed preferential principle was presented- P.A. By samuelson
425.Exposure demand curves are those that – go right up
Polity 500 One Liner Questions And Answers
