Daily Updates Mock Test 55
MOCK TEST 55
SYLLABUS :ECONOMY , ENGLISH , REASONING
TIME : 30 MINUTES FULL MARKS : 60*5 = 300
EACH QUESTION CARRIES 5 MARKS , - VE MARKING : - 1/ WRONG ANSWER
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- 1.
Economic development depends on:
- A.
Natural resources
- B.
Capital formation
- C.
Size of the market
- D.
All of the above
Correct Answer
D. All of the above -
- 2.
Human Development Index was developed by:
- A.
Amartyasen
- B.
Friedman
- C.
Mahbub-ul-Haq
- D.
Montek Singh
Correct Answer
C. Mahbub-ul-Haq -
- 3.
‘Take-off stage’ in an economy means
- A.
Steady growth begins
- B.
Economy is stagnant
- C.
Economy is about to collapse
- D.
All controls are removed
Correct Answer
A. Steady growth begins -
- 4.
How the interest-level of a country is affected by FDI?
- A.
Increases
- B.
Decreases
- C.
Remains unaffected
- D.
There is increase or decrease
Correct Answer
B. Decreases -
- 5.
The incidence of sales tax falls on
- A.
Consumers
- B.
Wholesale dealers
- C.
Retail dealers
- D.
Producers
Correct Answer
A. Consumers -
- 6.
Who among the following has suggested tax on expenditure?
- A.
Dalton
- B.
Kaldor
- C.
Musgrave
- D.
GautamMathur
Correct Answer
B. Kaldor -
- 7.
Deficit financing is an instrument of
- A.
Monetary policy
- B.
Credit policy
- C.
Fiscal policy
- D.
Tax policy
Correct Answer
C. Fiscal policy -
- 8.
‘Golden Handshake Scheme’ is associated with
- A.
Inviting foreign companies
- B.
Private investment in public enterprises
- C.
Establishing joint enterprises
- D.
Voluntary retirement
Correct Answer
D. Voluntary retirement -
- 9.
The ‘Interest Rate Policy’ is a component of
- A.
Fiscal Policy
- B.
Monetary Policy
- C.
Trade Policy
- D.
Direct Control
Correct Answer
B. Monetary Policy -
- 10.
Imperial Bank was constituted in the year?
- A.
1930
- B.
1935
- C.
1955
- D.
1921
Correct Answer
D. 1921 -
- 11.
New capital issue is placed in
- A.
Secondary market
- B.
Grey market
- C.
Primary market
- D.
Black market
Correct Answer
C. Primary market -
- 12.
Disinvestment in Public Sector is called
- A.
Liberalisation
- B.
Globalisation
- C.
Industrialisation
- D.
Privatisation
Correct Answer
D. Privatisation -
- 13.
Banks in India were nationalized for the first time in the year?
- A.
1950
- B.
1960.
- C.
1969
- D.
1979
Correct Answer
C. 1969 -
- 14.
FERA in India has been replaced by
- A.
FEPA
- B.
FEMA
- C.
FENA
- D.
FETA
Correct Answer
B. FEMA -
- 15.
Paraellel economy emerges due to
- A.
Tax Avoidance
- B.
Tax Evasion
- C.
Tax Compliance
- D.
Tax Estimation
Correct Answer
B. Tax Evasion -
- 16.
GNP differs from NNP due to
- A.
Net indirect taxes
- B.
Direct taxes
- C.
Interest on public debt
- D.
Depreciation
Correct Answer
D. Depreciation -
- 17.
The profits of India-banks operating in foreign countries are a part of
- A.
Income from entrepreneurship earned from abroad
- B.
Domestic factor income of India
- C.
Profits of the enterprises working in the domestic territory of India
- D.
Operating surplus of the banks located in India
Correct Answer
A. Income from entrepreneurship earned from abroad -
- 18.
Indirect taxes by nature are
- A.
Degressive
- B.
Regressive
- C.
Progressive
- D.
Proportional
Correct Answer
B. Regressive -
- 19.
A taxation is a tool of
- A.
Monetary policy
- B.
Fiscal policy
- C.
Price policy
- D.
Wage policy
Correct Answer
B. Fiscal policy -
- 20.
Which one of the following is not an objective of Fiscal Policy in India?
- A.
Full employment
- B.
Price stability
- C.
Optimum allocation of resources
- D.
Regulation of international trade
Correct Answer
D. Regulation of international trade -
- 21.
The Report of Vijay Kelkar Committee relates to
- A.
Trade reforms
- B.
Centre-state financial relations
- C.
Disinvestment in public sector enterprises
- D.
Tax reforms
Correct Answer
D. Tax reforms -
- 22.
Cheap money means
- A.
Low rates of interest
- B.
low level of saving
- C.
low level of income
- D.
Low level of standard of living
Correct Answer
A. Low rates of interest -
- 23.
Which one of the following items is not included in the current account of India’s Balance of Payments?
- A.
Short-term commercial borrowings
- B.
Balance of trade
- C.
Transfer payments
- D.
None of these
Correct Answer
D. None of these -
- 24.
What is referred to as ‘Depository Services’?
- A.
A new scheme of fixed deposits
- B.
A method for regulating stock exchanges
- C.
An agency for safe keeping of securities
- D.
An advisory service to investors
Correct Answer
C. An agency for safe keeping of securities -
- 25.
Which of the following is the most important domestic source of planned finance?
- A.
Balance of current revenue
- B.
Profit from public sector units
- C.
Domestic private savings
- D.
Additional taxation
Correct Answer
C. Domestic private savings -
- 26.
Interest on public debt is part of
- A.
Transfer payments by the enterprises
- B.
Transfer payments by the government
- C.
National income
- D.
Interest payments by households
Correct Answer
B. Transfer payments by the government -
- 27.
Corporation tax is a tax imposed on
- A.
The net incomes of the companies
- B.
The corporate properties
- C.
The utilities provided by the corporation
- D.
Tax imposed by the corporation on individual properties
Correct Answer
A. The net incomes of the companies -
- 28.
Parallel economy emerges due to
- A.
tax avoidance
- B.
Tax evasion
- C.
Tax compliance
- D.
Tax estimation
Correct Answer
B. Tax evasion -
- 29.
The tax levied on gross sales revenue from business transactions is called
- A.
turnover tax
- B.
Sales tax
- C.
Capital gains tax
- D.
Corporation tax
Correct Answer
A. turnover tax -
- 30.
A tax is characterised by horizontal equity if its liability is
- A.
Proportional to the income of tax payers
- B.
Similar for tax payers in similar circumstances
- C.
Proportional to the expenditure of tax payers
- D.
The same for every tax payer
Correct Answer
A. Proportional to the income of tax payers -
- 31.
Whale of a time
- A.
To marry
- B.
Enjoy a lot
- C.
To regret
- D.
A bad memory
Correct Answer
B. Enjoy a lot -
- 32.
An Ananias
- A.
A Liar
- B.
A man with lots of money
- C.
An irritating person
- D.
An important person
Correct Answer
A. A Liar -
- 33.
Wrap one’s brain around
- A.
To not mix with others
- B.
To scratch one’s head
- C.
Concentrate on something to understand.
- D.
To get aggressive
Correct Answer
C. Concentrate on something to understand. -
- 34.
Bee-line
- A.
The shortest distance between two places
- B.
To be apart by maximum distance
- C.
To fight for one’s rights
- D.
To act unfairly in a contest
Correct Answer
A. The shortest distance between two places -
- 35.
To be snowed under
- A.
To be in a dilemma
- B.
To be very busy
- C.
To be under suspicion
- D.
To be at a cold place
Correct Answer
B. To be very busy -
- 36.
Think the world of
- A.
To go on a world trip
- B.
Admire someone very much
- C.
To earn excessively
- D.
Not for any reason
Correct Answer
B. Admire someone very much -
- 37.
Kitty Corner
- A.
Diagonally across
- B.
To understand the details
- C.
To get confused
- D.
To remain joyful in a tough situation
Correct Answer
A. Diagonally across -
- 38.
Lock and key
- A.
To lock something
- B.
In safe place
- C.
To avoid
- D.
To apologize
Correct Answer
B. In safe place -
- 39.
Pore over
- A.
Go through
- B.
Reach to the lowest level
- C.
To refund old dues
- D.
Cheerful
Correct Answer
A. Go through -
- 40.
In awe of
- A.
Have no clear idea
- B.
Respect
- C.
In a precarious/dangerous position
- D.
To take advantage of
Correct Answer
B. Respect -
- 41.
Cast a shadow on
- A.
Without delay
- B.
In disagreement
- C.
Spoil or let down
- D.
In essence
Correct Answer
C. Spoil or let down -
- 42.
Come to naught
- A.
Be unsuccessful
- B.
To win
- C.
To very great extent
- D.
To be doubtful
Correct Answer
A. Be unsuccessful -
- 43.
By implication
- A.
Obliquely
- B.
Do one’s share of work
- C.
To go unnoticed
- D.
Precisely what the law says.
Correct Answer
A. Obliquely -
- 44.
In the face of
- A.
All at once
- B.
Regardless of
- C.
At a time
- D.
To dislike someone
Correct Answer
B. Regardless of -
- 45.
Drive to the wall
- A.
Developing
- B.
Moderately
- C.
Come to exist
- D.
Irritate/annoy
Correct Answer
D. Irritate/annoy -
- 46.
Statement: Some dresses are shorts. Some shorts are white. All white are long. Conclusions: I. Some long are shorts. II. Some long are dress. III. Some white are dress.
- A.
None follow
- B.
Only I follow
- C.
Only I and II follow
- D.
Only II and III follow
Correct Answer
B. Only I follow -
- 47.
4 20 31 8 15 38 5 13 ?
- A.
25
- B.
27
- C.
23
- D.
33
Correct Answer
B. 27 -
- 48.
F W O A J ? E M D
- A.
J
- B.
K
- C.
L
- D.
M
Correct Answer
B. K -
- 49.
- A.
8
- B.
81
- C.
231
- D.
300
Correct Answer
B. 81 -
- 50.
If ‘×’ stands for ‘addition’, ‘<’ for ‘subtraction’, ‘+’ for ‘division’, ‘>’ for ‘multiplication’, ‘−’ for ‘equal to’, ‘÷’ for ‘greater than’ and ‘=’ for ‘less than’, then state which of the following is true?
- A.
3 × 4 > 2 – 9 + 3 < 3
- B.
5 × 3 < 7 ÷ 8 + 4 × 1
- C.
5 > 2 + 2 = 10 < 4 × 8
- D.
3 × 2 < 4 ÷ 16 > 2 + 4
Correct Answer
C. 5 > 2 + 2 = 10 < 4 × 8 -
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Mar 21, 2022Quiz Edited by
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