General Awareness : Indian Economy Quiz

15 Questions | By Jagranjosh | Updated: Mar 20, 2022 | Attempts: 2069

Questions

Settings

Create your own Quiz

General Awareness : Indian Economy Quiz - Quiz

This quiz is about Indian economy created on Aug-19-2011

Questions and Answers

1.
The central banking functions in India are performed by the
1. Central Bank of India
2. Reserve Bank of India
3. State Bank of India
4. Punjab National Bank
- A.
  
  I, II
- B.
  
  II
- C.
  
  I
- D.
  
  II, III
2.

Development expenditure of the Central government does not include
- A.
  
  Defence expenditure
- B.
  
  Expenditure on economic services
- C.
  
  Expenditure on social and community services
- D.
  
  Grant to states
3.

ICICI is the name of a
- A.
  
  Chemical industry
- B.
  
  Bureau
- C.
  
  Corporation
- D.
  
  Financial institution
4.

Gilt-edged market means
- A.
  
  Bullion market
- B.
  
  Market of government securities
- C.
  
  Market of guns
- D.
  
  Market of pure metals
5.

In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?
- A.
  
  Chemicals other than fertilizers
- B.
  
  Services sector
- C.
  
  Food processing
- D.
  
  Telecommunication
6.

Devaluation of a currency means
- A.
  
  Reduction in the value of a currency vis-a-vis major internationally traded currencies
- B.
  
  Permitting the currency to seek its worth in the international market
- C.
  
  Fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
- D.
  
  Fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
7.

In the second nationalization of commercial banks, ___ banks were nationalized.
- A.
  
  4
- B.
  
  5
- C.
  
  6
- D.
  
  8
8.
Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves
1. interest payments
2. subsidies
3. defence
4. irrigation
- A.
  
  I, II
- B.
  
  I
- C.
  
  I, II, III
- D.
  
  II, III, IV
9.

Depreciation means
- A.
  
  Closure of a plant due to lock out
- B.
  
  Closure of a plant due to labour trouble
- C.
  
  Loss of equipment over time due to wear and tear
- D.
  
  Destruction of a plant in a fire accident
10.

Deficit financing leads to inflation in general, but it can be checked if
- A.
  
  Government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
- B.
  
  Only aggregate demand is increased
- C.
  
  All the expenditure is denoted national debt payment only
- D.
  
  All of the above
11.

If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits
- A.
  
  Will decrease
- B.
  
  Will increase
- C.
  
  Will neither increase nor decrease
- D.
  
  None of the above
12.

India changed over to the decimal system of coinage in
- A.
  
  April 1995
- B.
  
  April 1957
- C.
  
  April 1958
- D.
  
  April 1959
13.

The association of the rupee with pound sterling as the intervention currency was broken in
- A.
  
  1990
- B.
  
  1991
- C.
  
  1992
- D.
  
  1993
14.

On which one of the followings is the benefits received principle of taxation to achieve optimality bases?
- A.
  
  Marginal benefit received
- B.
  
  Total benefit received
- C.
  
  Average benefit received
- D.
  
  Ability to pay for the benefit
15.

One of the reasons for India's occupational structure remaining more or less the same over the years has been that
- A.
  
  Investment pattern has been directed towards capital intensive industries
- B.
  
  Productivity in agriculture has been high enough to induce people to stay with agriculture
- C.
  
  Ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture
- D.
  
  People are largely unaware of the significance of transition from agriculture to industry for economic development