Micro Economics MCQ (GK Set-1) with Answers

Micro Economics MCQ (GK Set-1) with Answers

391) One week, a firm receives Rs.9,000 from its customers. It has to pay Rs.1,000 in taxes on products and Rs.500 in other taxes on production; and it receives Rs.100 in subsidies on products and Rs.50 in other subsidies. Which of the following equals Rs.7,650

Answer is:

The value of its products sold at factor cost

392) Return to the firm in question 1. Suppose that in the week concerned it adds Rs.350 worth of finished products to its inventories. Also, it buys Rs.3,000 worth of intermediate products from other firms but adds Rs.300 worth of these to its inventories. Wha

Answer is:

Rs.5,300

393) Return to the firm in questions 1 and 2. Suppose that in the week concerned it pays compensation to its employees of Rs.5,000. What is its operating surplus?

Answer is:

Rs.300

394) GDP at factor cost equals the total value added at factor cost of all producers. Which of the following can be used to discover this total?

Answer is:

The total compensation of employees of all producers plus the total operating surpluses of all producers

395) Expenditure in an economy for one quarter of a year is as follows, all figures being at market prices and in billion dollar: Consumption expenditure by households 80, consumption expenditure by non-profit institutions 5, consumption expenditure by general

Answer is:

142 billion dollar

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