Which of the following is NOT a type of elasticity of demand? MCQ with Answer and Explanation

Question
Which of the following is NOT a type of elasticity of demand?
A. Supply elasticity of demand
B. Price elasticity
C. Income elasticity
D. Cross elasticity
Answer: Option A
Solution (By JKSSB Mock Tests)
Elasticity of demand includes price elasticity, income elasticity and cross elasticity. Elasticity of supply is a separate concept relating to supply response.
This question belongs to: Economy GK Economy Set 1
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Practice More Economy Set 1 Questions

Question #1
Which of the following is a characteristic of the 'Classical Dichotomy'?
A. Real and nominal variables are always interdependent
B. Real and nominal variables are determined separately and money is neutral
C. Money affects real output in the long run
D. Only fiscal policy is neutral
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Correct Answer: Option B

Explanation:
The classical dichotomy is the proposition that real variables (output, employment, relative prices) are determined independently of nominal variables and that money is neutral in the long run.
This question belongs to: Economy GK Economy Set 1
Question #2
The 'Central Board of Direct Taxes' administers:
A. GST
B. excise duty
C. income tax and corporate tax
D. customs duty
Discuss
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Correct Answer: Option C

Explanation:
CBDT administers direct taxes like income tax and corporate tax.
This question belongs to: Economy GK Economy Set 1
Question #3
Which of the following is a feature of the Indian capital market?
A. Presence of stock exchanges and long-term instruments
B. Only short-term instruments
C. No role of mutual funds
D. Absence of regulatory bodies
Discuss
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Correct Answer: Option A

Explanation:
The Indian capital market deals with long-term funds and includes stock exchanges, bonds, equities and mutual funds, regulated by SEBI.
This question belongs to: Economy GK Economy Set 1
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