According to the classical economists, full employment is achieved when A Aggregate demand equals aggregate supply B All willing workers
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Chapter 7: Money, Banking and Inflation (Set-4)
Money market refers to the market for A Long-term funds B Medium-term funds C Short-term funds D Equity shares Explanation
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A bank is best described as an institution that A Prints currency B Accepts deposits and advances loans C Controls
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Inflation refers to A Fall in general price level B Rise in general price level over time C Rise in
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Money is best defined as anything that A Is issued by the government B Has intrinsic value C Is generally
Continue readingChapter 6: National Income and Related Aggregates (Set-4)
National income statistics are primarily used to A Fix individual wages B Measure economic performance of a country C Control
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One major difficulty in measuring national income in developing countries is A Excessive documentation B Large non-monetized sector C High
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The product method of measuring national income is also known as A Value-added method B Income method C Expenditure method
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National income refers to A Total money supply in an economy B Total value of final goods and services produced
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Collusive oligopoly refers to a situation where firms A Compete independently B Follow perfect competition C Cooperate to fix price
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