Practice Economics Questions and Answers

• In India, who sets the Marginal Standing Facility (MSF) rate? 
• Which committee recommended the establishment of Regional Rural Banks in India?
• What does 'VAT' stand for in the context of taxation?
• Which monetary policy stance is characterized by low interest rates?
• As per the Income Tax Act of 1961, Section 115JB, the Minimum Alternate Tax (MAT) is calculated at what percentage of the book profit? 
• Normal goods, such as food and clothing, are characterized by a direct relationship between which of the following?
• Since which year has the Reserve Bank of India (RBI) been observing Financial Literacy Week (FLW)?
• What is the minimum maturity period for which Commercial Paper (CP) can be issued?
• Which of the following initiatives is associated with the Ministry of Cooperation?
• What does the economic term 'Cross Demand' relate to?
• What does 'GVA' stand for in economic contexts?
• Who is recognized as the father of modern taxonomy?
• The Lorenz curve is used to display which of the following?
• What are barter transactions best described as?
• Which entity regulates mutual funds in India?
• What does 'SLR' stand for in the context of banking regulations?
• What is the base year currently used for the calculation of the Wholesale Price Index (WPI) in India?
• Deficit financing is a tool of which economic policy?
• Stagflation refers to a period characterized by which of the following conditions? 
• Secular stagnation is best described by which of the following scenarios?
• The production function of a firm is a relationship between which two factors? 
• Who bears the main burden of an indirect tax?
• What is the primary aim of currency devaluation? 
• Goods whose demand increases as their price rises are known as?
• An increase in the price of a product will result in which of the following? 
• The long-term fiscal policy aims to maintain the stability of which of the following? 
• Which of the following best defines inflation?
• Which organization regulates mutual funds and stock markets in India? 
• The law of demand is based on the assumption that people will: 
• Consumer sovereignty implies that consumers: 
• An increase of 1% per annum in the growth rate of the money supply will increase inflation by: 
• Interest payments on public debt are considered part of: 
• An increase in demand for a good will cause the equilibrium price to ______ and the equilibrium quantity to ______. 
• Lowering the value of a country's currency relative to a foreign reference currency is called: 
• Investment and savings are kept equal through changes in which of the following? 
• Goods for which demand increases as their price rises are known as: 
• If the cash reserve ratio (CRR) decreases, what will happen to credit creation?
• If the supply of sugar increases in a market in equilibrium, the equilibrium price will _______ and the equilibrium quantity will _______. 
• Macroeconomics primarily deals with: 
• A minimum wage is defined as: