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Wednesday, 12 June 2019

Economics -Questions and Answers (Chapter- 03)

61. Which institution established on 1st  April 1935 and headed by Sir Osborn Smith?
(a) IOA                                                            (b) Reserve Bank of India
(c) Bombay Dyeing                                       (d) LIC
Answer: (b)

62. ‘Life is Good’ is the tag line of which of the following consumer durable company in India?
(a) Philips                                                             (b) LG
(c) Samsung                                                         (d) Videocon
Answer: (b)

63. Kirit Parikh Committee was set up to review:
(a) Petroleum pricing                                      (b) Parliamentary affairs
(c) Telecommunications                                (d) Centre-State relations
Answer: (a)

64. Which of the following is not one of them Bretton Woods institutions?
(a) World Bank                                                  (b) IMF
(c) IFC                                                                   (d) ADB
Answer: (d)

65. The economic planning proposed by eight leading industrialists in 1945 is known as:
(a) People’s plan                                             (b) Five Year Plan
(c) Bombay plan                                             (d) Colombo Plan
Answer: (c)

66. The Indian capital market is under the control of:
(a) RBI                                                                     (b) Ministry of Finance
(c) SEBI                                                                   (d) SBI
Answer: (c)

67. Which is known as ‘Plastic Money’?
(a) Cheque                                                               (b) Coin
(c) Bond                                                                   (d) Credit Card
Answer: (d)

68. What is functioned in Phiroze Jeejeebhoy Towers?
(a) LIC                                                                        (b) SBI
(c) Bombay Stock Exchange                            (d) None of these
Answer: (c)

69. The originator of Human Development Index:
(a) Mahbub ul Haq                                               (b) Sia Ul Haq
(c) Ken Saro Viva                                                (d) Adam Smith
Answer: (a)

70. Who propounded the Innovation Theory of profits?
(a) J.A.Schumpeter                                          (b) P.A.Samuelson
(c) Alfred Marshall                                          (d) David Ricardo
Answer: (a)

71. The headquarters of Allahabad bank is in:
(a) Lucknow                                      (b) New Delhi
(c) Allahabad                                     (d) Kolkata
Answer: (d)

72. The return on debentures is called:
(a) Dividend                                         (b) Interest
(c) Profit                                                (d) None of these
Answer: (b)

73. A speculator in stock markets who buys stocks anticipating that prices will go up is called:
(a) Bull                                                   (b) Bear
(c) Stag                                                    (d) Cow
Answer: (a)

74. Which of the following taxes is not levied by Union Government?
(a) Excise duty                                           (b) Income tax
(c) Profession tax                                      (d) Wealth Tax
Answer: (c)

75. Which is known as the ‘controller of credit’?
(a) NABARD                                                   (b) State Bank of India
(c) Reserve Bank of India                          (d) Indian Bank
Answer: (c)

76. In which date general budget presents in India?
(a) Last working day of February                (b) April 1
(c) March 31                                                       (d) February 28
Answer: (a)

77. The backbone of Indian Economy:
(a) Industry                                                       (b) Agriculture
(c) Transport                                                    (d) Insurance
Answer: (b)

78. Monetary policy is regulated by:
(a)Government policy                                         (b) Central bank
(c) Private entrepreneurs                                  (d) Money lenders
Answer: (a)


79. Deflation is:
(a) Deficit budget                                                   (b) Reduction in taxation
(c) Increase in public expenditure                   (d) Reverse of inflation
Answer: (d)

80. The mixed economy approach was adopted through the Industrial Policy statement of:
(a) 1948                                                                     (b) 1956
(c) 1977                                                                     (d) 1991
Answer: (a)

81. Deficit financing is spending:
(a) by borrowing from abroad                            (b) in excess of revenue
(c) less than what is needed                                (d) by getting foreign aid
Answer: (b)

82. The official rate of interest charged by the Central bank of a country:
(a) Bank rate                                                          (b) Debenture
(c) Equity shares                                                   (d) Reverse Repo
Answer: (a)

83. Estimates of National Income in India are prepared by:
(a) Planning Commission
(b) Reserve Bank of India
(c) Central Statistical Organisation
(d) Ministry of Finance
Answer: (c)

84. A Rolling Plan is a plan for:
(a) Five years                                                       (b) Three years
(c) on year to year basis                                   (d)  None of these
Answer: (c)

85. What is Procurement Price for an agricultural commodity?
(a) The subsidy paid by the government over the market price
(b) The floor price below which it cannot be sold
(c) Money paid to farmers during the drought
(d) The minimum price at which Government is ready to buy
Answer: (d)

86. Mixed Economy is the co-existence of:
(a) Heavy Industry& Small Industry
(b) Private Sector & Public Sector
(c) Industry and Agriculture
(d) Domestic and Foreign Industries
Answer: (b)

87. When was the New Liberalized Industrial Policy was announced in India?
(a) 1989                                                                (b) 1990
(c) 1991                                                                (d) 1992
Answer: (c)

88. Protectionism in international trade stands for:
(a) Free trade policy                                   (b) Semi-restricted trade
(c) Restricted trade                                     (d) All of these
Answer: (c)

89. A multinational is:
(a) A company established with foreign help
(b) A company operating in many countries
(c)  An international body to help developing countries
(d)  A person who has different types of industries within the countries
Answer: (b)

90. Repo rate:
(a) The rate at which RBI sells securities in Commercial Bank
(b) The rate at which RBI buying securities from the Commercial Banks
(c) Sells securities by the RBI in the open market
(d)   Sells securities by the Commercial Banks in the open market
Answer: (a)
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