Question : Which of the following are used to calculate the economic freedom of a country?
Option 1: Rule of Law, Regulatory Efficiency, Market Openness, Government Size
Option 2: Gross domestic product, Regulatory Efficiency, Market Openness, Foreign direct investment
Option 3: Rule of Law, Inflation, Gross domestic product growth rate, Government Size
Option 4: Rule of Law, Regulatory Efficiency, Inflation, Foreign direct investment
Correct Answer: Rule of Law, Regulatory Efficiency, Inflation, Foreign direct investment
Solution : The correct answer is the Rule of Law, Regulatory Efficiency, Inflation, and Foreign direct investment.
The "four freedoms"—freedom of movement of people, capital, goods, and services—are the focus of the single market. This is accomplished through a set of uniform laws and regulations that every member state of the EU is required by law to abide by. People are free to work, produce, consume, and invest however they want in a society where the economy is free.
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Question : If exports equal imports, then which of the following relations will be true?
Option 1: Gross Domestic Product (GDP) = Gross National Product (GNP)
Option 2: Gross Domestic Product (GDP) > Gross National Product (GNP)
Option 3: Gross Domestic Product (GDP) < Gross National Product (GNP)
Option 4: None of these
Question : Net National Product of a country is:
Option 1: Gross Domestic Product (GDP) minus depreciation allowances
Option 2: Gross Domestic Product (GDP) plus net income from abroad
Option 3: Gross National Product (GNP) minus net income from abroad
Option 4: Gross National Product (GNP) minus depreciation allowances
Question : Gross Domestic Product (GNP) - Depreciation allowances = ____________.
Option 1: National Income
Option 2: Net Domestic Product (NDP)
Option 3: Net National Product (NNP)
Option 4: Gross National Product (GNP)
Question : What is the full form of FDI?
Option 1: Foreign Direct Input
Option 2: Foreign Direct Investment
Option 3: Fiscal Direct Investment
Option 4: Fiscal Direct Input
Question : Which of the following best indicates the economic growth of a nation?
Option 1: Agriculture income
Option 2: Per capita income
Option 3: Gross industrial production
Option 4: Inflation
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