Economics Quiz - Question & Answers Set - 15

  • Question 2 :
  • Opportunity cost of production of a commodity is

  • The cost that the firm could have incurred when a dirrerent technique was adopted
  • The cost that the firm could have incurred a different method oof production
  • The actual cost incurred
  • The next best alternative output sacrified
  • Question 8 :
  • The Finance Commission

  • Drows up Five year palns
  • Formulates monetory policy
  • Recommends pay revision of central Government Employees
  • Adjudicates on the sharing of resources between center and the states
  • Question 9 :
  • Net National Product of a country is

  • GDP minus depreciation allowance
  • GDP plus net income from abroad
  • GNP minus depreciation allowances
  • GNP minus net income from abroad
  • Question 10 :
  • Net National Product of a country is

  • GDP minus depreciation allowance
  • GDP plus net income from abroad
  • GNP minus depreciation allowances
  • GNP minus net income from abroad
  • Question 14 :
  • Bank Rate refers to the interest rate at which

  • Commercial banks receive deposits from the public.
  • Central bank gives loans to Commercial banks.
  • Government loans are floated.
  • Commercial banks grant loans to their customers.
Economics Quiz - Question & Answers Set - 15
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