Economics MCQ Questions and Solutions with Explanations | Commerce

A. Monetary and fiscal policies are ineffective

B. Both monetary and fiscal policies are effective

C. Monetary policy is effective but fiscal policy is ineffective

D. Monetary policy is ineffective but fiscal policy is effective

A. Equal utility

B. Equal output

C. Different output

D. Different utility

A. Price × Quantity

B. Price × Income

C. Income × Quantity

D. None of these

A. perfect competition

B. monopolistic competition

C. monopoly

D. oligopoly

A. horizontal

B. vertical

C. upwards to the right

D. downwards to the right

A. by substantial changes in the licensing policy

B. by removing procedural hurdles for foreign direct investment

C. by significantly reducing the import tax rates

D. All of the above

A. Where sellers find it difficult to sell

B. It is convinient for the buyers to buy

C. Sellers can sell what they produce

D. Buyers dominate the market

A. zero

B. unity

C. more than unity

D. less than unity

A. Statement (I) is correct, but (II) is incorrect

B. Statement (II) is correct, but (I) is incorrect

C. Both Statements (I) and (II) are correct

D. Both Statements (I) and (II) are incorrect

A. Inflation accounting

B. Social accounting

C. Single accounting system

D. Double accounting system