At present CRR (Sept., 2014) is _______ and SLR is ________ for entire net demand and time liabilities of the scheduled commercial banks.

10, 35
7, 30
4, 22
10, 25

If NNP figure is available at market prices we will ________ indirect taxes and ________ subsidies to the figure to get National Income of the economy.

Add, subtract
Add, divide
Subtract, add
Subtract, divide

The cost of tax collection has increased from Rs. 543 crore in 1990-91 (Central Government) to more than __________ in 2013-14.

4,500 crore
8,500 crore
5,900 crore
2,000 crore

Balance of services is the sum of all invisible service receipts and payment which could be ___________.

Zero
Positive
Negative
Zero, positive or negative

Which of the following statements is incorrect about the benefits of value added tax?

Overall tax burden will be rationalized
There is a provision of self-assessment
Price will in general fall
There will be less transparency

One characteristic not typical of oligopolistic industry is:

Too much importance to non-price competition
Price leadership
Horizontal demand curve
A small number of firms in the industry

If as a result of a change in price, the quantity supplied of a good remains unchanged, we conclude that:

Elasticity of supply is perfectly inelastic
Elasticity of supply is relatively greater-elastic
Elasticity of supply is inelastic
Elasticity of supply is relatively less-elastic

Marginal cost is defined as

The change in output due to a one unit change in output
Total cost divided by output
The change in total cost due to one unit change in output
Total revenue divided by the quantity of input

Which of the following statements is correct about under utilization of capacity of industries in India?

The magnitude of under-utilisation varies from 20% to 60% in different industrial sectors
The average under-utilization being in the region of 40% to 50%
Over optimistic demand projection is one of the factors responsible for under utilization in industries
All of the above

Structural unemployment results due to:

A change caused by the introduction of new machines, labour saving devices and improvement in methods of production
A change caused by recessionary and depressionary phases of the economy
A change caused by high population growth, primitive state of technology, low capital formation and vicious circle of poverty etc.
A change caused by a decline in demand for production in particular industry and consequent disinvestments and reduction in its manpower requirement

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