SEASON'S GREETINGS :)
MERRY CHRISTMAS AND A VERY HAPPY NEW YEAR 2015 TO ONE AND ALL
BEST WISHES
PROF. KASHMIRA P. MODY
Sunday, 21 December 2014
21 DAY CHALLENGE - DAY 21
1. Identify the person in the photograph below.
2. Complete the sentence: The 2008 Nobel prize in Economic sciences was awarded to ________ for_____________.
3.
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2. Complete the sentence: The 2008 Nobel prize in Economic sciences was awarded to ________ for_____________.
3.
|
If the price of beef
doubled and the price of poultry stayed the same, people would most likely
buy:
A. More poultry and less beef. B. Less poultry and more beef. C. The same amount of poultry and beef. D. Don't Know. |
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21 DAY CHALLENGE - DAY 20
1. Identify the person in the photograph below.
2. Complete the sentence: The 2014 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. An increase from 5% to 8% in the interest rates charged by banks would most likely encourage:
A. Businesses to invest.
B. People to purchase housing.
C. People to save money.
D. Don't Know.
2. Complete the sentence: The 2014 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. An increase from 5% to 8% in the interest rates charged by banks would most likely encourage:
A. Businesses to invest.
B. People to purchase housing.
C. People to save money.
D. Don't Know.
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Friday, 19 December 2014
21 DAY CHALLENGE - DAY 19
1. Identify the person in the photograph below.
2. Complete the sentence: The 1999 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. When deciding which of the two items to purchase, one should always:
A. Choose the item that costs less.
B. Choose the item with the greatest benefits.
C. Choose an item after comparing the costs and benefits of both items.
D. Don't Know.
2. Complete the sentence: The 1999 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. When deciding which of the two items to purchase, one should always:
A. Choose the item that costs less.
B. Choose the item with the greatest benefits.
C. Choose an item after comparing the costs and benefits of both items.
D. Don't Know.
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Thursday, 18 December 2014
21 DAY CHALLENGE - DAY 18
1. Identify this economist from the photograph below.
2. Complete the sentence: The 1987 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. When governments supply products and services, these products and services usually benefit:
A. More than one person at a time whether they have paid for it or not.
B. Only the people who pay for these products and services.
C. Business at the expense of consumers.
D. Don't Know.
2. Complete the sentence: The 1987 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. When governments supply products and services, these products and services usually benefit:
A. More than one person at a time whether they have paid for it or not.
B. Only the people who pay for these products and services.
C. Business at the expense of consumers.
D. Don't Know.
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Wednesday, 17 December 2014
21 DAY CHALLENGE - DAY 17
1. Identify this economist from the photograph below.
2. Complete the sentence: The 1970 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. When the federal government's expenditures for a year are greater than its revenue for that year, the difference is known as:
A. The national debt.
B. A budget deficit.
C. A budget surplus.
D. Don't Know.
2. Complete the sentence: The 1970 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. When the federal government's expenditures for a year are greater than its revenue for that year, the difference is known as:
A. The national debt.
B. A budget deficit.
C. A budget surplus.
D. Don't Know.
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Tuesday, 16 December 2014
21 DAY CHALLENGE - DAY 16
1. Identify this economist from the photograph below.
2. Complete the sentence: The 1976 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. In which among the following international organizations, you can spot only those countries which have highest Human Development Index (HDI)?
2. Complete the sentence: The 1976 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. In which among the following international organizations, you can spot only those countries which have highest Human Development Index (HDI)?
[A]G-8
[B]G-77
[C]OECD
[D]G-20
[B]G-77
[C]OECD
[D]G-20
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Monday, 15 December 2014
21 DAY CHALLENGE - DAY 15
1. Identify this economist from the photograph below.
2. Complete the sentence: The 1986 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. Which among the following state / Union Territory of India has lowest population density as per the provisional data of Census 2011?
2. Complete the sentence: The 1986 Nobel prize in Economic sciences was awarded to ________ for_____________.
3. Which among the following state / Union Territory of India has lowest population density as per the provisional data of Census 2011?
[A]Sikkim
[B] Arunachal Pradesh
[C]Lakshadweep
[D]Andaman & Nicobar Islands
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[B] Arunachal Pradesh
[C]Lakshadweep
[D]Andaman & Nicobar Islands
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Sunday, 14 December 2014
21 DAY CHALLENGE - DAY 14
1. Who among the
following is the writer of the bestseller of last decade "The World Is
Flat: A Brief History of the Twenty-First Century"?
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A. Amartya Sen
B. Thomas Friedman
C. Eugene Robinson
D. Connie Schultz
2. Which among the
following is an international grouping of industrialised economies of the
world?
A. G-20
B. G-8
C. G-4
D. OECD
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Saturday, 13 December 2014
21 DAY CHALLENGE - DAY 13
1. The bowed shape of the production possibilities curve illustrates:
a. the law of increasing marginal cost
b. that production is inefficient
c. that production is unattainable
d. the demand is relatively inelastic
2. The demand for a product would be more inelastic:
a. the greater is the time under consideration
b. the greater is the number of substitutes available to buyers
c. the less expensive is the product in relation to incomes
d. all of the above
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a. the law of increasing marginal cost
b. that production is inefficient
c. that production is unattainable
d. the demand is relatively inelastic
2. The demand for a product would be more inelastic:
a. the greater is the time under consideration
b. the greater is the number of substitutes available to buyers
c. the less expensive is the product in relation to incomes
d. all of the above
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Friday, 12 December 2014
21 DAY CHALLENGE - DAY 12
1. Name the organization that publishes the World Investment Report annually.
2. What is the full form of the term NPA in the context of
banking?
Thursday, 11 December 2014
21 DAY CHALLENGE - DAY 11
|
1. If the real gross
domestic product of the United States has increased, but the production of
goods has remained the same, then the production of services has:
A. Increased. B. Decreased. C. Remained the same. D. Don't Know. |
2. Mexico grows fruits and vegetables and Argentina produces beef. If Mexico voluntarily trades fruits and vegetables in exchange for Argentinean beef,
A. Both Mexico and Argentina
benefit from the trade.
B. Both Mexico and Argentina lose from the trade.
C. Mexico benefits and Argentina loses from the trade.
D. Don't Know.
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B. Both Mexico and Argentina lose from the trade.
C. Mexico benefits and Argentina loses from the trade.
D. Don't Know.
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Wednesday, 10 December 2014
21 DAY CHALLENGE - DAY 10
1. Which of the following would be most likely to accelerate innovation in
the computer industry?
A. Placing a tax on all new inventions in he computer industry.
B. Increasing government regulation of the computer industry.
C. Investing in more research and development in the computer industry.
D. Don't Know.
2. What is the gilt edged market?
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A. Placing a tax on all new inventions in he computer industry.
B. Increasing government regulation of the computer industry.
C. Investing in more research and development in the computer industry.
D. Don't Know.
2. What is the gilt edged market?
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Tuesday, 9 December 2014
21 DAY CHALLLENGE - DAY 9
1. Which of the following are most likely to be helped by inflation?
A. People living on a fixed income.
B. Banks that loaned money at a fixed rate of interest.
C. People who borrowed money at a fixed rate of interest.
D. Don't Know.
2. Union Budget of India is presented by whom and in which house/ houses of the Parliament?
A. People living on a fixed income.
B. Banks that loaned money at a fixed rate of interest.
C. People who borrowed money at a fixed rate of interest.
D. Don't Know.
2. Union Budget of India is presented by whom and in which house/ houses of the Parliament?
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Monday, 8 December 2014
21 DAY CHALLENGE - DAY 8
Welcome to Week 2 - Two questions every day for a week :)
All the best
1. Which one of the following statements about the function of money is wrong?
A. Money makes it easier to save.
B. Money makes trading goods and services easier.
C. Money holds its value well in times of inflation.
D. Don't Know.
All the best
1. Which one of the following statements about the function of money is wrong?
A. Money makes it easier to save.
B. Money makes trading goods and services easier.
C. Money holds its value well in times of inflation.
D. Don't Know.
2. Who is the President of the European Central Bank?
email your answers with the subject line 21 DAY CHALLENGE-DAY 8 TO profKMody@gmail.com
email your answers with the subject line 21 DAY CHALLENGE-DAY 8 TO profKMody@gmail.com
21 DAY CHALLENGE - DAY 7
The stock market is an example of an institution within our economy that
exists to help people achieve their economic goals. The existence of this
institution:
A. Results in an increase in the price of stocks. B. Brings people who want to buy stocks together with those who want to sell stocks. C. Helps predict stock earnings. D. Don't Know.
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|
Saturday, 6 December 2014
21 DAY CHALLENGE - DAY 6
If the United States
stopped importing automobiles from Country X, who would be most likely to
benefit?
A. Automobile manufacturers in Country X B. Consumers in the United States C. Automobile manufacturers in the United States D. Don't Know.
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|
Friday, 5 December 2014
21 DAY CHALLENGE-DAY 5
For most people, the largest portion of their personal income comes
from:
A. Wages and salaries from
their jobs.
B. Interest from stocks and bonds they own.
C. Rent paid to them from property they own.
D. Don't Know.
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B. Interest from stocks and bonds they own.
C. Rent paid to them from property they own.
D. Don't Know.
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Thursday, 4 December 2014
21 DAY CHALLENGE - DAY 4
A large increase in the number of fast-food restaurants in a community
is most likely to result in:
A. Lower prices and higher quality.
B. Lower prices and lower quality.
C. Higher prices and higher quality.
D. Don't Know
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A. Lower prices and higher quality.
B. Lower prices and lower quality.
C. Higher prices and higher quality.
D. Don't Know
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Wednesday, 3 December 2014
21 DAY CHALLENGE - DAY 3
Who wrote "An Inquiry into the Nature and Causes of the Wealth of Nations"?
A. David Ricardo
B. Jean-Baptiste Colbert
C. Adam Smith
D. Thomas Malthus
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A. David Ricardo
B. Jean-Baptiste Colbert
C. Adam Smith
D. Thomas Malthus
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Tuesday, 2 December 2014
21 DAY CHALLENGE - DAY 2
Why do
professional sports players generally earn more than farmers and steelworkers?
A. Team owners are monopolists.
B. Sports players are really entertainers rather
than producers.
C. There are fewer professional sports players than
farmers or steelworkers.
D. Good sports players are more scarce, given the
demand for their services.
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Monday, 1 December 2014
21 DAY CHALLENGE - DAY 1
What is
the most important task of all economies?
A. To balance imports and exports.
B. To balance the government's budget.
C. To make the best use of scarce resources.
D. To save money to reduce the national debt.
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WELCOME TO THE 21 DAY CHALLENGE
EACH DAY SIGN IN TO THE BLOG AND ATTEMPT THE QUESTION POSTED THERE.
EMAIL YOUR ANSWERS TO profKMody@gmail.com WITH YOUR NAMES AND ROLL NUMBERS. ALL THE BEST......:)
Sunday, 3 August 2014
Friday, 11 July 2014
Thursday, 10 July 2014
Friday, 27 June 2014
ANS: QOTW 2 FOR JUNE 2014
* Chitra Ramakrishna (born 1963) is the Managing Director
and CEO of National Stock Exchange of India (NSE) since
1st April, 2013 succeeding Ravi Narain.
* She is a Chartered Accountant by profession, and has
been with NSE since its inception.
* She was part of the core five-member team selected
by the government to create a screen based Pan Indian stock exchange.
* In 2013, she was ranked 17th in Fortune's 50 Most powerful
Women in the World.
Congrats Vivek and Jingampou
Thursday, 19 June 2014
Ans: First QOTW for June 2014
Floating rate term deposits are a variant of fixed deposits offered by banks.
The interest rates on offer are linked to the bank’s base interest rate.
This first such deposit was launched by State Bank of India
in September 2010.
Congrats Stella
The interest rates on offer are linked to the bank’s base interest rate.
This first such deposit was launched by State Bank of India
in September 2010.
Congrats Stella
Thursday, 5 June 2014
WORLD ENVIRONMENT DAY : 5 JUNE 2014
The UN General Assembly declared 2014 as
the International Year of Small Island Developing States (SIDS).
Therefore, World Environment Day 2014 will shine the spotlight on SIDS.
Tuesday, 3 June 2014
RBI CREDIT POLICY JUNE 2014
ACCORDING TO THE ECONOMICS TIMES
TODAY 03/06/2014
Reserve Bank of India kept key rates unchanged.
While the repo rate was maintained at 8% and reverse repo rate at 7%,
the SLR was cut by 50 basis points.
Rajan kept the policy rate unchanged at 8% at the previous review on April 1 as inflation,
especially of food items, hovered at over 8%.
Food inflation in April stood at 9.66% and retail inflation at 8.59%.
Cuts export credit refinance to 32% of eligible export credit from 50%
Special term repo of 25 basis points to offset export credit cut
Price pressures to remain in May, but seasonal
If economy stays on course, no need for interest rate hike
To allow domestic funds in currency derivatives
Lifts individual USD remittance abroad to $125,000 vs $75,000
Allows all residents and non-residents except citizens
TODAY 03/06/2014
Reserve Bank of India kept key rates unchanged.
While the repo rate was maintained at 8% and reverse repo rate at 7%,
the SLR was cut by 50 basis points.
Rajan kept the policy rate unchanged at 8% at the previous review on April 1 as inflation,
especially of food items, hovered at over 8%.
Food inflation in April stood at 9.66% and retail inflation at 8.59%.
Key measures:
Reduces mandatory government bond holdings 25 basis points
Cuts export credit refinance to 32% of eligible export credit from 50%
Special term repo of 25 basis points to offset export credit cut
Price pressures to remain in May, but seasonal
If economy stays on course, no need for interest rate hike
To allow domestic funds in currency derivatives
Lifts individual USD remittance abroad to $125,000 vs $75,000
Allows all residents and non-residents except citizens
of Pakistan and Bangladesh to take out Indian currency notes
up to Rs. 25,000 while leaving the country.
Answer: Mid-Vacation QOTW 2
An Education Cess of 2% and Secondary and Higher Education Cess of 1%
(collectively referred to as ‘education cess’) are levied on tax plus surcharge,
if applicable, payable by all assesses.
Looks like all our members are on vacation :)
(collectively referred to as ‘education cess’) are levied on tax plus surcharge,
if applicable, payable by all assesses.
Looks like all our members are on vacation :)
Monday, 26 May 2014
Answer: Mid Vacation QOTW1
Raghuram Govinda Rajan is the current and the 23rd Governor of the Reserve Bank of India.
He took charge of India's central banking institution on 4 September 2013, succeeding D Subbarao.
In 2003, he won the Fischer Black Prize awarded by the American Finance Association for contributions
to the theory and practice of finance by an economist under the age of 40.
*** Congrats: Manali Naik :)
Thursday, 22 May 2014
Mid Vacation Question
He received the inaugural Fischer Black Prize, given every two years to the financial economist younger -than 40? He is also the 23rd Governor of RBI.
Who is he?
You can email your answers to me at profKMody@gmail.com
Who is he?
You can email your answers to me at profKMody@gmail.com
Thursday, 27 February 2014
Quote for the Week
"The day is not far off when the economic problem will take the back seat where it belongs, and the arena of the heart and the head will be occupied or reoccupied, by our real problems — the problems of life and of human relations, of creation and behaviour and religion." - John Maynard Keynes
Wednesday, 12 February 2014
Questions for the end of the academic year 2013-14
Send in your answers to profKMody@gmail.com by 25 February 2014
(1) What is a bitcoin?
(2) What is the Euro?
(3) Rearrange the four letter name of Iran's currency and you get the currency of Turkey. What is the unit of currency of Iran?
(4) What is the currency of Bhutan?
(5) What is the currency of China?
(6) U.S. paper money has this formula: 75% of material A and 25% of material B. What are A and B?
(7) Using five of the letters in the word Europe, spell out the name of a unit of currency used in a certain Asian country.
(1) What is a bitcoin?
(2) What is the Euro?
(3) Rearrange the four letter name of Iran's currency and you get the currency of Turkey. What is the unit of currency of Iran?
(4) What is the currency of Bhutan?
(5) What is the currency of China?
(6) U.S. paper money has this formula: 75% of material A and 25% of material B. What are A and B?
(7) Using five of the letters in the word Europe, spell out the name of a unit of currency used in a certain Asian country.
(8) One of the primary stock market indicators is the Dow Jones Industrial Average. The stocks of how many companies makes up the Dow Jones Industrial Average?
(9) One of the primary stock market indicators is the BSE Sensex. The stocks of how many companies makes up the BSE Sensex?
(10) If you cannot pick up a penny with a magnet, then the coin is made of what metal?
:) :) :)
"The difference between theory and practice is that, in theory, there is no difference between theory and practice, but in practice, there is." - Tom Vogl
"Critics of economics say that economists know the price of everything but the value of nothing. Nothing, perhaps, is so dangerous intellectually in the policy sciences as an economist who knows only economics, except, I would add, a moral philosopher who knows no economics at all." - Peter J. Boettke
"One nanny said, 'Feed a cold'; she was a neo-Keynesian. Another nanny said, 'Starve a cold'; she was a monetarist." - Harold Macmillan
"Critics of economics say that economists know the price of everything but the value of nothing. Nothing, perhaps, is so dangerous intellectually in the policy sciences as an economist who knows only economics, except, I would add, a moral philosopher who knows no economics at all." - Peter J. Boettke
"One nanny said, 'Feed a cold'; she was a neo-Keynesian. Another nanny said, 'Starve a cold'; she was a monetarist." - Harold Macmillan
Interim Railway Budget
Mallickarjun Kharge keeps passenger fares unchanged
Some key points from Interim Rail Budget:
1. Urgent need for investment in Railways to improve services.
2. To connect Meghalaya, Arunachal to rail network in FY14.
3. Railways to start passenger service to Vaishno Devi & Katra.
4. Dedicated eastern, western freight corridors soon.
5. Will commission dedicated freight trains.
Saturday, 8 February 2014
Ouch!
"Critics of economics say that economists know the price of everything but the value of nothing. Nothing, perhaps, is so dangerous intellectually in the policy sciences as an economist who knows only economics, except, I would add, a moral philosopher who knows no economics at all." - Peter J. Boettke
Thursday, 30 January 2014
Answer to QOTW 21 Jan 2014
The Reserve Bank of India (RBI) on 20-01-2014 reallocated the portfolios of its three deputy governors K.C. Chakrabarty, H.R. Khan and Urjit R. Patel following the retirement of Anand Sinha, who demitted the office of deputy governor recently.
The department of banking operations and development, which were under Sinha, will now be looked after by Khan, while that of urban banks will be managed by Chakrabarty.
The departments of information technology and expenditure and budgetary control will be looked after by Khan and Patel, respectively. Khan will also look after the inspection portfolio, while the legal portfolio has been transferred to Chakrabarty. These portfolios will be reallocated once the new deputy governor takes charge,
Woman power :) .... only in the developed countries?????
The world has woken up to the fact that women in rich countries make around 80% of all consumer buying decisions. Even cars, which used to be a male preserve, are now often chosen by women, and carmakers have adjusted their designs to appeal to female sensibilities. But there is one area where women's buying clout has so far been neglected: business-to-business
Wednesday, 22 January 2014
Quote for the Day
"One of the greatest pieces of economic wisdom is to know what you do not know." - John Kenneth Galbraith
RBI calling for your pre-2005 currency notes
The Reserve Bank of India (RBI) today said it will completely withdraw from circulation all currency notes issued prior to 2005. This will ensure that the notes in circulation are of similar design.
Tuesday, 21 January 2014
Question of the Week
Who are the three Deputy Governors of the RBI? What are their portfolios?
Send your answers by Monday 27 January 2014 to profKMody@gmail.com
Send your answers by Monday 27 January 2014 to profKMody@gmail.com
OMG! Gloomy figures
The number of unemployed people around the world reached an estimated 201.8 million in 2013, with the International Labour Organisation painting a bleak picture for employment till 2018.
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Sveriges Riksbank Prize in Economic Sciences in Memory of Alfred Nobel 2021 one half to David Card University of California, Berkeley, USA...
