General Awareness : Indian Economy Quiz

15 Questions

Settings
Please wait...
General Awareness : Indian Economy 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