Indian Economy General Knowledge Today

1. Foreign aid will—
(A) Raise the level of investment
(B) Be used to enlarge technical resources
(C) Be used for building up industries
(D) All of the above
See Answer:

2. Operating surplus arises in the—
(A) Government sector
(B) Income-tax Returns
(C) Agricultural farming
(D) Enterprise sector
See Answer:

3. The most important of the non-tariff trade barriers are—
(A) Quotas
(B) Health regulations
(C) Pollution standards
(D) Labelling and packaging regulations
See Answer:

4. Investment is equal to—
(A) Gross total of all types of physical capital assets
(B) Gross total of all capital assets minus wear and tear
(C) Stock of plants, machines and equipments
(D) None of the above
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5. What is NABARD's primary role ?
(A) To provide term loans to state Cooperative Banks
(B) To assist State Governments for share capital contribution
(C) To act as refinance institution
(D) All of the above
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6. The sale proceeds of the Government Bonds come under the budget head of—
(A) Revenue Receipts
(B) Current Expenditure
(C) Capital Outlay
(D) Capital Receipts
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7. The term utility means—
(A) Usefulness of a commodity
(B) The satisfaction which a commodity yields
(C) The service which a commodity is capable of rendering
(D) None of these
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8. Under flexible exchange rate system, the exchang rate is determined by—
(A) The Central Bank of the country
(B) The forces of demand and supply in the foreign exchange market
(C) The price of gold
(D) The purchasing power of currencies
See Answer:

9. The size of the market for a product refers to—
(A) The number of people in the given area
(B) The geographical area served by the producers
(C) The volume of potential sales of the product
(D) The number of potential buyers of the product
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10. Economic problem arises mainly due to—
(A) Overpopulation
(B) Unemployment
(C) Scarcity of resources
(D) Lack of small industries
See Answer:

11. If the change in demand for a commodity is at a faster rate than change in the price of the commodity then the demand is—
(A) Perfectly inelastic
(B) Elastic
(C) Perfectly elastic
(D) Inelastic
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12. Which of the following is/are not fixed costs ?
(A) Rent on land
(B) Municipal taxes
(C) Wages paid to workers
(D) Insurance charges
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13. The demand for money, according to Keynes, is for—
(A) Speculative motive
(B) Transaction motive
(C) Precautionary motive
(D) All the above motives
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14. The Reserve Bank of India issues currency notes under the—
(A) Fixed fiduciary system
(B) Maximum fiduciary system
(C) Fixed minimum reserve system
(D) Proportional reserve system
See Answer:

15. The concept of mixed economy means—
(A) To have balanced development in the agricultural and industrial sector
(B) Simultaneous development of the rural and urban sector
(C) To have equal distribution of wealth among the rural and the urban poor
(D) Simultaneous existence of the private and public sector
See Answer:

16. In Mixed Recall Period (MRP) estimates of poverty in India, NSSO has compared 2004-05 poverty statistics with the statistics of the year—
(A) 1993-94
(B) 1997-98
(C) 2000-01
(D) 2001-02
See Answer:

17. CSO has projected GDP growth for 2009-10 at—
(A) 7•2%
(B) 7•00%
(C) 7•1%
(D) 6•2%
See Answer:

18. Indian Railways earn maximum revenue from—
(A) Freight
(B) Passenger Fare
(C) Traffic Tax
(D) Passenger Tax
See Answer:

19. On July 1, 2010 State Bank of India sets Base Rate at—
(A) 6•5%
(B) 7•5%
(C) 8•5%
(D) 9•2%
See Answer:

20. 'Equilibrium Price' is that price which—
(A) Maximizes producers profit
(B) Equates consumers and producers surplus
(C) Maximize consumers satisfaction
(D) Equates supply and demand
See Answer:

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