List of top Economics Questions

Read the following statements carefully :

Statement I : Trade in services includes both factor income and non-factor income transactions.

Statement II : Current Account includes transactions related to goods, services and unilateral transfers.

In the light of the given statements, choose the correct option from the following :

Identify the variable(s) which may add to the future productive capacity of an economy :

I. Raw material

II. Fixed investment

III. Inventories with producers

(Choose the correct option)

Read the following statements : Assertion (A) and Reason (R). Choose the correct option from those given below :

Assertion (A) : Borrowing requirements of the government include interest obligations on debt as well.

Reason (R) : The goal of measuring primary deficit is to correct the prevailing fiscal imbalances.

On the basis of the given table, estimate the value added by the Baker.

(Amount in ₹ crore)

(Choose the correct option)

Identify, the factor which influences the demand for foreign exchange in a country.

(Choose the correct option)

Complete the following table :

State the meaning of Special Economic Zone (SEZ).

Estimate the value of subsistence level of consumption expenditure from the following data, about an economy which is in equilibrium :

(i) National Income (Y) = ₹ 1,500 crore

(ii) Marginal Propensity to Consume (MPC) = 0.8

(iii) Investment Expenditure (Ī) = ₹ 150 crore

“An economy facing unplanned accumulation of inventories would try to increase its Aggregate Demand.” Defend or refute the given statement with valid arguments.

Read the following text carefully and answer the questions given below :

“This organisation replaced General Agreement on Trade and Tariff (GATT) as global trade organisation.”

In which year was this new organisation established ?

Describe how Pakistan has formulated and implemented its early developmental strategies to foster economic growth.

Identify the monetary measure being referred to each of the following and discuss whether the tool would be used during a situation of excess demand or deficient demand.

Discourage commercial banks to park their surplus funds with the Reserve Bank of India (RBI).

Discuss the ‘One Child Policy’ adopted by China.

Read the following text carefully and answer the questions given below :

“This organisation replaced General Agreement on Trade and Tariff (GATT) as global trade organisation.”

Explain any two objective of the new organisation.

Read the following text carefully and answer the questions given below :

“This organisation replaced General Agreement on Trade and Tariff (GATT) as global trade organisation.”

Identify the organisation which is known as the successor of GATT.

“If an economy is facing fall in inventories below the desired level, its often leads to a decrease in Aggregate Demand.” Defend or refute the given statement with valid arguments.

Complete the following table :

Explain the likely impact of implementation of ‘Exports Promotion Scheme’ of Government of India on the Balance of Payment (BoP) of the country. (Keeping other factors constant)

Identify the monetary measure being referred to each of the following and discuss whether the tool would be used during a situation of excess demand or deficient demand.

Buying government securities (G-Sec) from public.

State the meaning of Trade Surplus.

Calculate the value of Ex-ante Aggregate Demand (AD), if autonomous investment and consumption expenditure (Ā) = ₹ 50 crore; and Marginal Propensity to Save (MPS) is 0.2 and level of income is ₹ 300 crore.

Calculate the value of ‘Rent’ from the following data :

Read the following text carefully :

“The Reserve Bank of India (RBI) announced a 50 basis point Repo Rate cut to 5.50% from 6%.”

In the light of the given text and common understanding, answer the following questions :

Read the following text carefully and answer the questions given below :

“It is an arrangement in which a firm hires some specialized firm(s) to carry out some of its activities (which were earlier being performed by itself). These service hirings could be from local / international markets.”

Explain examples of services that have expanded due to advancements in information technology.

Read the following text carefully and answer the questions given below :

“It is an arrangement in which a firm hires some specialized firm(s) to carry out some of its activities (which were earlier being performed by itself). These service hirings could be from local / international markets.”

Identify the indicated outcome of the globalisation process.