BMW quiz

During business cycles the opposite of a trough is...

• ...an inflation

• ...a hyperinflation.

• ...a trend.

• ...a peak.

An important indicator of a nation's well-being is...

• ...gross domestic product (GDP)

• ...gross national product (GNP)

• ...gross national income (GNI)

• ...the growth rate of GDP or GNP

One of the most significant fiscal policy objectives in India is to bring the revenue expenditures and receipts to the same level. Which of the following steps will help to achieve that objective?

• The efforts to raise the total profits for public sector units

• The efforts to improve the revenues from tax collection

• The efforts to slow the growth rate for expenditures in the country

• All of the above

Which of the following is the definition of a budget deficit?

• Excess of the total expenditure over the total receipts minus interest payments and borrowings

• Excess of the total expenditure over the total receipts

• Excess of the total expenditure over the total receipts minus borrowings

• Excess of the revenue expenditure over the revenue receipts

They thrive on power and authority....

• Dolphin

• Whale

• Shark

• Urchin

Since they love helping others almost to a fault, they leave themselves  open to be taken advantage by others who don’t have the best intentions

• Dolphin

• Whale

• Shark

• Urchin

They are quick decision makers so they may not always make the best  decisions.

• Dolphin

• Whale

• Shark

• Urchin

Double entry accounting means______________?

• A. Entry in two sets of books

• B. Entry at two ends

• C. Entry at two dates

• D. Entry for two aspects of the transaction

Trade Deficit occurs when ______________.

• Export of goods is less than imports of goods

• Export of goods is more than imports of goods

• Export of services is less than imports of services

• Export of services is more than imports of services

In which phase of the business cycle is real GDP increasing?

• Expansion

• Peak

• Recession

• Trough