Indian Economy Selected Questions and Answers Set 7

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Q.1:- Which of the following organisations / banks has done a commendable work in the field of micro-finance was awarded Nobel Prize also in the past ?

  1. Grameen Bank of Bangladesh
  2. CRY
  3. ASHA
  4. NABARD
  5. None of these

Q.2:- Which of the following is not the part of the scheduled banking structure in India ?

  1. Money Lenders
  2. Public Sector Banks
  3. Private Sector Banks
  4. Regional Rural Banks
  5. State Co-operative Banks

Q.3:- Reverse Repo Rate means ?

  1. Injecting liquidity by the Central Bank of a country through purchase of Government Securities
  2. Absorption of liquidity from the market by sale of Government Securities
  3. Balancing liquidity with a view to enhance economic growth rate
  4. Improving the position of availability of the securities in the market
  5. Any of the above

Q.4:- Insurance service was provided by various bank is commonly known as ?

  1. Investment Banking
  2. Portfolio Management
  3. Merchant Banking
  4. Bancassurance
  5. Micro Finance

Q.5:- Which of the following rates / ratios is not covered under the Monetary and Credit Policy of RBI ?

  1. Bank Rate
  2. Repo Rate
  3. Cash Reserve Ratio
  4. Reverse Repo Rate
  5. Exchange Rate of Foreign Currencies

Q.6:- The term Plastic Money applies to ?

  1. Bank draft made of plastic coated paper
  2. Currency notes impregnated with plastic thread
  3. Currency notes printed on plastic coated paper
  4. Credit cards mainly issued by the banks

Q.7:- Which one of the following banks give long term loans to agriculture ?

  1. State Co-operative Bank
  2. Commercial Bank
  3. Primary Credit Society
  4. Land Development Bank

Q.8:- With reference to the institution of Banking Ombudsman in India, which one of the statements is not correct ?

  1. The Banking Ombudsman is appointed by the Reserve Bank of India
  2. The Banking Ombudsman can consider complaints from Non-Resident Indians having accounts in India
  3. The service provided by the Banking Ombudsman is free of any fee
  4. The orders passed by the Banking Ombudsman are final and binding on the parties concerned

Q.9:- Interest on public debt is a part of ?

  1. Transfer payments by the enterprises
  2. Transfer payments by the Government
  3. National Income
  4. Interest payment by house-holds
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Q.10:- Finance Commission is constituted ? [SSC Tax Assit. 2008]

  1. Every Year
  2. One in two years
  3. Once in four years
  4. Once in five years

Q.11:- The lowering of Bank Rate by the Reserve Bank of India leads to ?

  1. More liquidity in the market
  2. Less liquidity in the market
  3. No change in the liquidity in the market
  4. Mobilization of more deposits by commercial banks

Q.12:- Which of the following commission set up by the President of India decides the distribution of tax incomes between the Central and State Governments ?

  1. Central Law Commission
  2. Pays Commission for Government Employees
  3. Administrative Reform Commission
  4. Planning Commission
  5. Finance Commission

Q.13:- Fiscal deficit is ?

  1. Total income less Government borrowing
  2. Total payments less total receipts
  3. Total payments less capital receipts
  4. Total expenditure less total receipts excluding borrowing
  5. None of these

Q.14:- The basic aim of Lead Bank Scheme is that ?

  1. Big banks should try to open offices in each district
  2. There should be stiff competition among the various nationalized banks
  3. Individual banks should adopt particular districts for intensive development
  4. All the banks should make intensive efforts to mobilize deposits

Q.15:- As we all known, Government of India pays special emphasis on the management of Fiscal Deficit. What is Fiscal Deficit ?

  1. The gap between projected or estimated GDP and Actual GDP
  2. The gap between the total number and value of the currency notes issued by the RBI until now over the number and value of those which are in actual circulation
  3. The gap between the actual borrowings of the Government of India and the expected expenditure for which provision is made in the budget
  4. Excess of Government’s disbursement comprising current and capital expenditures over its current receipts (Tax / Non-Tax Receipts)
  5. None of these

Q.16:- 13th Finance Commission has been constituted under the Chairmanship of ? [UP PCS Special (Pre) 2004; 2008]

  1. S.P. Thorat
  2. Montek Singh Ahluwalia
  3. Rangrajan
  4. Vijay L. Kelkar
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Q.17:- ‘Economics is what it ought to be’. This statement refer to ?

  1. Normative Economics
  2. Positive Economics
  3. Monetary Economics
  4. Fiscal Economics

Q.18:- Production is at socially ideal level under ?

  1. Monopolistic Competition
  2. Monopoly
  3. Oligopolistic Competition
  4. Perfect Competition

Q.19:- Nobel Prize in which field is not paid out of the endowment set up by Dr. Alfred Nobel ?

  1. Peace
  2. Medicine
  3. Chemistry
  4. Economics

Q.20:- When the growth of GDP in a country slows down suddenly, people start losing their jobs and the situation continues for several weeks, what name is given to this state of economy ?

  1. Inflation
  2. Recession
  3. Deflation
  4. Economic Boom
  5. None of these

Q.21:- Who was the author of the book ‘India’s Economic Policy : The Gandhian Blue Print’ ?

  1. Chaudhary Charan Singh
  2. Jai Prakash Narayan
  3. Man Mohan Singh
  4. Acharya Vinoba Bhave

Q.22:- Rise in the price of a commodity means ?

  1. Rise in the value of currency only
  2. Fall in the value of currency only
  3. Rise in the value of commodity only
  4. Fall in the value of currency and rise in the value of commodity

Q.23:- Which sector of Indian Economy contributes largest to the Gross National Product ?

  1. Primary Sector
  2. Secondary Sector
  3. Tertiary Sector
  4. Public Sector

Q.24:- GDP at factor cost is ?

  1. GDP minus indirect taxes plus subsidies
  2. GNP minus depreciation allowances
  3. NNP plus depreciation allowances
  4. GDP minus subsidies plus indirect taxes

Q.25:- National Income is based on the ?

  1. Total revenue of the State
  2. Production of goods and services
  3. Net profit earned and expenditure made by the state
  4. The sum of all factions of income

 

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