List of top Economics Questions

The workforce participation rate of a country is 60%. This country has a population of 100 million, of which 6 million are unemployed. The unemployment rate for this country is

According to John Maynard Keynes, which one of the following statements is correct for a closed economy operating at less than the full employment level of output?

X pays Rs. 5 lakhs to a person to transport fake currency worth Rs. 50 lakhs. The Police department pays Rs. 5 lakhs to a detective to investigate the crime. The detective’s income is taxed at 10%. If the above transactions happen in the same year and within the boundary of a country, the contribution of these transactions to GDP (in Rs. lakhs) is

Which one of the following statements is NOT correct in the context of economic planning in India?

Which one of the following statements is NOT correct regarding changes in the occupational structure of the workforce between 1951 and 1991 in India?

There are only two firms in an industry producing a homogeneous product and having identical production technology. The cost function of firm $i$ is \[ C_i(q_i) = q_i^2, \quad \text{for } i = 1,2; \] where $q_i$ is the quantity produced by firm $i$. The market demand for the product is $p = 100 - q$, where $p$ is the unit price and $q = q_1 + q_2$ is the aggregate quantity. Assuming the firms are price takers, the competitive equilibrium solution of $p$ and $q$ in this market is

A monopoly canteen serves packed meals to two groups of consumers, group $X$ and group $Y$. The demand for packed meals for $X$ and $Y$ are given by, \[ Q_X = 200 - 4P \quad \text{and} \quad Q_Y = 300 - P, \] where $P$ is the uniform price per unit. The unit cost of producing each meal is Rs. 50. The value of $P$ (in Rs.) that maximizes the canteen’s profit is

The utility from wealth $(w)$ for an individual is given by $u(w) = \sqrt{w$. The individual owns a risky asset that is equally likely to yield either Rs. 400 or Rs. 900. The risk premium of the asset (in Rs.) is}

Which one of the following is NOT a feature of the New Industrial Policy, 1991?

Which one of the following is a possible reason for underestimation of the official poverty ratio in India?

Which one of the following committees is NOT associated with financial sector reforms in India?

When the expected future marginal product of capital increases, then the IS curve

An unanticipated inflation would cause

“Real Gross Domestic Product (GDP) is a better indicator of economic growth of a nation as compared to the Nominal Gross Domestic Product (GDP).” Do you agree with the given statement? Justify your answer with a valid hypothetical numerical example.

Read the following statements carefully: Statement 1: As per the National Sample Survey Organization (NSSO), unemployment is a situation in which all those who, owing to lack of work, are not working but are seeking work from prospective employers. They express their willingness/availability to work under the prevailing conditions of work and remuneration. Statement 2: Disguised Unemployment is generally a massive problem in a highly populated country like India. Choose the correct alternative from the following:

Read the following statements - Assertion and Reason (R). Choose the correct alternative given below: Assertion : China has used the market mechanism to create additional social and economic opportunities for its citizens. Reason (R): Social infrastructure creation by the government has brought positive results in human development indicators in China.

Read the following statements carefully: Statement 1: Under the colonial rule, basic infrastructure (like railways, post and telegraph, etc.) was developed.
Statement 2: The real motive behind the infrastructural development in India was to strengthen the British interests. Choose the correct alternative from the following: