gk on economy

8/13/2019 GK on Economy

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ECONOMICS--ONE

Note: If none of the answers is correct then mark E (None of these) as your answer.

1. Indravati Hydroelectric Project is the multipurpose project of ---a. Maharashtra Stateb. Gujarat Statec. Orissa Stated. Tamil Nadu

2. What is a limited company?a. In which shareholders possess the ownership limited to their paid up capitalb. In which shares are not issuedc. A company of Government ownershipd. A Registered company

3. Who gains in inflation?a. Saverb. Creditorc. Debtord. Pension holder

4. Open market operation is a part of ---a. Income Policyb. Fiscal Policyc. Credit Policyd. Labour Policy

5. CRISIL ---a. Evaluates the credit documents of a companyb. Provides financial assistance to industriesc. Provides finances for rural areasd. Promotes exports

6. Which among the following states is a leading industrialized state?a. West Bengalb. Orissac. Maharashtrad. Madhya Pradesh

7. On the recommendation of Jankiraman Committee, a committee was constituted for improvingtransaction method of public sector bonds and mutual funds. This committee was ---a. Nadkarni committeeb. Nayak committeec. Goiporia committeed. Tikku committee

8. GIC includes various insurance companies. This number is ---a. 2 b. 3c. 4 d. 5

9. LIC of India was established ina. 1897 b. 1950


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c. 1956 d. 1965

10. Consumer Protection Act (COPRA) was implemented in ---a. 1985 b. 1986c. 1987 d. 1988

11. Which direct tax gives maximum net revenue to the Government ---a. Corporate Taxb. Income Taxc. Wealth Taxd. Gift Tax

12. The main food grains of India isa. Rice b. Wheatc. Sugarcane d. Maize

13. Which rank India attains in tobacco production in the world?a. First b. Secondc. Sixth d. Fourth

14. Scheduled Bank is that bank which is ---a. Nationalizedb. Not nationalizedc. Based at foreign countryd. Included in the second schedule of RBI

15. Match the following ---Unit I Unit II

a. Aqua culture 1. Silkb. Floriculture 2. Grapesc. Seri culture 3. Flowerd. Viti culture 4. Fisheries

a. b. c. d.a. 4 3 2 1b. 3 4 1 2c. 3 4 2 1d. 4 3 1 2

16. Which state has the lowest women literary rate in India (2011 census)?

a. Bihar b. Jharkhandc. U.P. d. Rajasthan

17. Which country is the largest oil producing country of the world?a. Saudi Arabiab. Russiac. Americad. None of these

18. The ownership right of a company remains ---a. With company Directorsb. With equity shareholdersc. With debenture holdersd. With the government


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19. TRIPSTrade Related Intellectual Property Rights and TRIMS Trade Related InvestmentMeasures are associated with ---a. Preston Proposalb. Dunkel Proposalc. Chelliah Committeed. None of these

20. Which is true for Finance Commission?a. It is a statutory bodyb. It is constituted under article 280 of the constitutionc. Mr. K.C. Pant was Chairman of 10

thFinance Commission

d. All of these

21. According to Banking Regulation Act, RBI can fix SLR up to the ceiling of ---a. 40% b. 50%c. 30% d. 45%

22. What was the field of Sunderrajan Committee?a. Petroleumb. Small Industryc. Educationd. Power

23. Corporate Tax is imposed by ---a. State Governmentb. Local Governmentc.Central Governmentd. Both Centre and State Government

24. Marginal Propensity to Consume (MPC) meansWhen income rises consumption?

a. Remains constantb. Increases in similar proportionc. Increases in higher proportiond. Increases in lesser proportion

25. What is needed for creating demand?a. Production b. Pricec. Income d. Import

26. IMF is the result of ---a. Hawana conferenceb. Rome conferencec. Brettonwood conferenced. Geneva conference

27. Primary gold is a gold of ---a. 20 carat b. 22 caratc. 23 carat d. 24 carat

28. Who is not the member of National Development Council?a. Governors of the Stateb. Chief Ministers of the Statec. Administrators of Union Territoryd. All ministers of Union Cabinet

29. The demand for agriculture product mainly depends upon ---a. Increase in agriculture area


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b. Increase in populationc. Increase in incomed. Fall in price

30. The Headquarter of ILO is at ---a. Washington

b. Genevac. The Hagued. Manila

31.According to 2011 census which State had the highest literacy rate?

a. Kerala b.Mizoram c. Goa d. H.P.

32. According to 2011 census what is the percentage of India's population to that of

world population?

a. 25 .5 b.17.5% c.30.5 d. 12.5

33. What is the total population of Indi as per 2011 census?

a. 131.02 crore b. 101.02 crore c. 121.02 crore d. 111.02 crore

34. What is the total population of China?a. 114.10 b.124.10 c.104.10 d.134.10

35. Which country stands third place in total population ?a. Indonesia b. USA c. India c. Canada

36. According to 2011 censuswhich district in India has highest density?a. North East Delhi b. Kolkata c. Chennaid. Mumbai

37. According to 2011 censusChild sex rationumber of female children per 1000 malechildren is:a. 814 b.1014 c.914 d. 714

38 First census of India was taken in which year?.a. 1972 b. 1772 c. 1902 d. 1872

39. The Census of India done in 2011 is ....... census.a. 10th b. 15th c. 20th d. 18th

40. Which state had a dip in literacy rate in 2011 census compared to 2001 census?

a. Andhra pradesh b. Punjab c . Orissa d. Goa

Q.41 Industrial sickness is growing at an alarming rate and is causing concern to the(a) Financial Institutions(b) Banks(c) Government(d) All the above

Q.42 Industrial Sickness may be caused by(a) Unfavourable external environment


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(b) Managerial deficiencies(c) Any of the above(d)All the above

Q.43 Industrial sickness occurs(a) Overnight (b) Develops gradually over time

Both (a) and (b) (d) All of thesee

Q.44 In a leasing agreement, lessee gets a right to(a) Use the asset (b) Sell the asset Both the above (d) All of these

Q.45 A leasing company can grow profitably over time, provided it offers(a) Competitive rates(b) Earns a satisfactory rate of return on its investments(c) Both (a) and (b)(d)All of these

Q.46 For assessing the financial health of a company, one requires an understanding of(a) Future industry economies and structure(b) Competitive and operating characteristics of business(c) Long term goals and plans of management(d) All the above

Q.47 Projects costing upto Rs. 5 crore are financed by(a) State level financial institutions and banks(b)All India Financial Institutions(c) Both (a) and (b)(d)All of these.

Q.48 Credit worthiness of a potential customer relating to his capital variable, can be judged by(a) Quick Ratio(b) Current Ratio(c) Net Worth(d) Cash Flow

Q.49 Fund Flow Statement on working capital (CA: CL) basis presents the(a) Source of working capital(b) Uses of working capital(c) Net change in working capital(d)All the above

Q.50 Fund Flow Statement on Cash basis shows the(a) Sources of cash (b) Users of cash(c) Net change in Cash (d) All the above

ECONOMICS --ONE

1.C 2.A 3.C 4.C 5.A 6.C 7.A 8.C 9.C 10.B

11.A 12.A 13.C 14.D 15.D 16.A 17.C 18.B 19.B 20.D

21.A 22.A 23.C 24.A 25.C 26.C 27.D 28.A 29.B 30.B


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31.A 32.B 33.C 34.D 35.B 36.A 37.C 38.D 39.B 40.A

41.D 42.C 43.B 44.C 45.C 46.D 47.A 48.A 49.F 50.D

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ECONOMICSTWO

FINANC E AND ECO.

Q.1 Accounting is a language of

(a) Business (b) Government (c) Company (d) All the above

Q.2 In devising an Accounting Structure, the steps required are

Arrangement of accounts in a desired sequence

Preparation of the source data

Analysis of the transactions

All the above

Q.3 Objective of accounting is to

(a) Keep a systematic and permanent record of monetary transactions

(b) Prepare Final accounts

(c) Communicate the results of the monetary transaction

(d) All the above

Q.4 A business transaction is first recorded in

(a) Journal

(b) Ledger

(c) A document called voucher
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(d) None of the above

Q.5 Double-entry System of Book-keeping was introduced by

35. William Pickels

36. Lucas Pacioli

37. R.N. Carter

38. None of the above

Q.6 Owners equities are the amounts payable to

(a) Creditors

(b) Owners

(c) Bankers

(d)All the above

Q.7 External users of Accounting information are

(a) Government

(b) Researchers

(c) Banking institutions

(d) All the above

Q.8 A separate business legal entity concept is applicable to writing the accounts of

(a) A Company

(b)A Partnership firm

(c)A Proprietary firm

(d)All the above

Q.9 Cash Book is a


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(a) Journal

(b) Ledger

(c) Both (a) and (b)


Q.10 Trial Balance discloses errors of

(a) Principle

(b) Compensating nature

(c) Commission

(d)All the above

Q.11 A Balance Sheet is usually prepared at the end of a

(a) month (b) year (c) Period (d) Half year

Q.12 Accounting Standard Board was set up by the Institute of Chartered Accounts of India in

d. April 1977

di. October 1978

dii. October 1979

diii. None of the above

Q.13 Contingent liability appears as a footnote in the Balance Sheet. This involves an accounting

principle named as

(a) Consistency (b) Disclosure (c) Conservatism (d)

Materiality

Q.14 Amount received from a debtor after being declared as bad debt is credited to

(a) Debtors A/c

(b) Bad Debts Recovered A/c

(c) Bad Debts A/c


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(d) Suspense A/c

Q.15 Prepaid Insurance is

(a) An asset (b) A Liability

(c) Sometimes an Asset (d) Sometimes an Expenditure

Q.16 A Limited Co. bought machine for Rs. 2 Crore. The market price of the machine on that daywas Rs. 2 Crore. It shows the Machine Account on that day was Rs.2 1/2 crore. Which of theaccounting concept has been violated by the Co.?

39. Money Measurement Concept

40. Realisation Concept

41. Cost Concept

42. None of the above

Q.17 In the case of sale of partnership firm to a company, the profit or loss on the sale isascertained through

(a) Revaluation A/c

(b) Realization A/c

(c) Memorandum Realisation A/c

(d)Any of the above

Q.18 Under Stock and Debtor System the Branch A/c is a

(a) Nominal A/c (b) Personal A/c (c) Real A/c (d) None of theabove

Q.19 In Debtors method, profit for Hire Purchase transactions is ascertained by preparing

(a) Hire Purchase Trading A/c

(b) Consignment A/c

(c) Hire Purchase A/c


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Q.20 The term Current Assets includes

(a) Depreciable Assets

(b) Cash surrender value of Life Insurance Policy



Q.21 Stores Ledger is a record of only

(a) Perpetual Inventory System

(b) Periodic Stock taking system



Q.22 Production is not hampered when stock-taking is done by

(a) Perpetual Inventory System

(b) Periodic Stock taking system



Q.23. Reconciliation of Bin Cards and Stores Ledger is necessary due to posting in

(a) Bin Card and non-posting in stores Ledger and Vice-versa

(b) Wrong posting in Bin Card or Stores Ledger

(c) Entries in wrong columns in Bin Card or Store Ledger

(d) All the above

Q.24 Inventory Turnover Ratio should normally be

(a) 1:1 (b) 2:1 (c)3:1 (d) 4:1


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Q.25 Control Ratios may be employed for exercising control on

(a) Labour (b) Inventory (c) Overheads (d) Assets

Q.26 The purpose of material control is to avoid

(a) Overstocking of raw materials

(b) Understocking of raw materials



Q.27 Direct Material cost includes

(a) Materials including component parts

(b) Small tools for general use

(c) Stores items used for maintenance of machines

(d) Some minor items like cost of nails in shoe-making

Q.28 Cost of Production of an item consists of

(a) Prime Cost

(b) Factory overheads

(c)Administrative over heads

(d) All the above

Q.29 Job Costing is suitable for

(a) Biscuit making

(b) Printing Press

(c) Engineering goods



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Q.30 Differential Piece Rate System of payment of wages was first introduced by

(a) Fayol (b) Taylor (c) Merrick (d) None of the above

Q.31 Function-wise overheads expenses may be classified as

(a) Manufacturing overheads

(b)Administrative overheads

(c) Selling and distributive overheads

(d) All the above

Q.32 To determine the Economic Batch Quantity, costs may be grouped into

(a) Setting up costs

(b) Carrying Costs



Q.33 In Absorption Costing, profit is equal to

(a) Sales minus cost of sales

(b) Contribution minus fixed cost

(c)Any of the above


Q.34 Marginal Costing is useful for

(a) Cost control

(b) Profit planning




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Q.35 FIFO method for valuation of materials is preferably used when

(a) Prices are rising

(b) Prices are falling

(c) Prices seldom change

(d) prices change very often

Q.36 P/V ratio indicates

(a) Profit efficiency

(b) Volume efficiency

(c) Profit volume relationships

(d) Production sales relationships

Q.37 With a change in Fixed Costs

(a) Key factor changed

(b) P/V ratio is changed

(c) B.E.P. is changed

(d) All the above change

Q.38 Marginal Costing technique is an aid to

(a) Management (b) Shareholders

Creditors (d) All the above

Q.39 A budget which is designed according to the level of activity is

(a) Cash budget (b) Sales budget

Production budget (d) Flexible budget


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Q.40 Funds Flow Statement indicates the change in

(a) Cash position (b) Working capital

Shareholders Funds (d) None of the above

Q.41 Earning before Interest and Tax and Earning Per Share Analysis is used to determine theappropriate level of

(a) Debt (b) Share Capital (c) Assets (d) None of the above

Q.42 A Companys extra earning power depends upon

(a) Weakness in the management of a competitor

(b) Secret manufacturing process

(c) Good labour relations

(d) All the above

Q.43 Issue of Bonus Shares must be permitted by

(a) Memorandum of Association of the Company

(b)Articles of Association of the Company



Q.44 Portfolio management is the process of selecting a bundle of securities to get

(a) Maximum yield at a minimum risk

(b) Maximum yield at a moderate risk

(c) Lower yield at minimum risk

(d)Any of the above

Q.45 Aggressive policy of Portfolio management lays emphasis on


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(a) Yield from securities

(b) Risk of investments

(c) Safety of principal money

(d) All the above

Q.46 Cash disbursements may be delayed by

(a) Delaying outward payment

(b) Slowing disbursement by use of drafts

(c) Making payroll periods less frequent

(d) All the above

Q.47 For making a choice between Leasing and Hire Purchase, consideration is to be made of

(a) Depreciation and Investment

(b) Tax advantage

(c) Salvage value of the Asset

(d)All the above

Q.48 Warrants and Convertible Debentures in India are becoming popular as they are

(a)A cheaper debt

(b) Can be issued at a premium



Q.49 For Investors seeking greater details, the most comprehensive source of information for stockmarkets is perhaps

(a) Coverage in The Economic Times

(b) The Daily Official Quotations List

(c) Television Reporting


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(d) Business Periodicals

Q.50 In an inflationary period, the current rupees at the time of receipt will have

(a) Lesser Purchasing Power

(b) Greater Purchasing Power

(c) Sometimes greater, sometimes lesser


**********************************

1. Answerseconomics -2

1.d 2.d 3.d 4.c 5.b 6.b 7.d

8.a 9.c 10.c 11.b 12.a 13.b 14.b

15.a 16.c 17.b 18.c 19.c 20.d 21.c

22.b 23.d 24.d 25.a 26.c 27.a 28.d

29.b 30.b 31.d 32.c 33.a 34.b 35.d

36.c 37.d 38.a 39.c 40.b 41.b 42.d

43.d 44.a 45.d 46.d 47.a 48.c 49.b

50.a

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ECONOMICS - THREE

1. Which of the following is the Regulator of the credit rating agencies in India ?
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(A) RBI

(B) SBI

(C) SIDBI

(D) SEBI

(E) None of these

2. When more than one banks are allowing credit facilities to one party in coordination with eachother under a formal arrangement, the arrangement is generally known as

(A) Participation

(B) Consortium

(C) Syndication

(D) Multiple banking

(E) None of these

3. Open market operations, one of the measures taken by RBI in order to control credit expansion inthe economy means

(A) Sale or purchase of Govt. securities

(B) Issuance of different types of bonds

(C) Auction of gold

(D) To make available direct finance to borrowers

(E) None of these

4. The bank rate means

(A) Rate of interest charged by commercial banks from borrowers

(B) Rate of interest at which commercial banks discounted bills of their borrowers

(C) Rate of interest allowed by commercial banks on their deposits

(D) Rate at which RBI purchases or rediscounts bills of exchange of commercial banks

(E) None of these

5. What is an Indian Depository Receipt ?

(A) A deposit account with a Public Sector Bank

(B) A depository account with any of Depositories in India


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(C) An instrument in the form of depository receipt created by an Indian depository againstunderlying equity shares of the issuing company

(D) An instrument in the form of deposit receipt issued by Indian depositories

(E) None of these

6. An instrument that derives its value from a specified underlying (currency, gold, stocks etc.) isknown as

(A) Derivative (this shd b ans)

(B) Securitisation Receipts

(C) Hedge Fund

(D) Factoring

(E) Venture Capital Funding

7. Fiscal deficit is

(A) total income less Govt. borrowing

(B) total payments less total receipts

(C) total payments less capital receipts

(D) total expenditure less total receipts excluding

borrowing

(E) None of these

8. In the Capital Market, the term arbitrage is used with reference to

(A) purchase of securities to cover the sale

(B) sale of securities to reduce the loss on purchase

(C) simultaneous purchase and sale of securities to make

profits from price

(D) variation in different markets

(E) Any of the above

9. Reverse repo means

(A) Injecting liquidity by the Central Bank of a country through purchase of Govt. securities (WHAT KIND OF ANS THESE ALL ARE)

(B) Absorption of liquidity from the market by sale of Govt. securities

(C) Balancing liquidity with a view to enhancing economic growth rate


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(D) Improving the position of availability of the securities in the market


10. The stance of RBI monetary policy is

(A) inflation control with adequate liquidity for growth

(B) improving credit quality of the Banks

(C) strengthening credit delivery mechanism

(D) supporting investment demand in the economy


11. Currency Swap is an instrument to manage

(A) Currency risk

(B) interest rate risk

(C) currency and interest rate risk

(D) cash flows in different currencies

(E) All of the above

12. Sub-prime refers to

(A) lending done by banks at rates below PLR

(B) funds raised by the banks at sub-Libor rates

(C) Group of banks which are not rated as prime banks as per Bankers Almanac

(D) lending done by financing institutions including banks to customers not meeting withnormally required credit appraisal standards

(E) All of the above

13. Euro Bond is an instrument

(A) issued in the European market

(B) issued in Euro Currency

(C) issued in a country other than the country of the currency of the Bond

(D) All of the above

(E) None of these

14. Money Laundering normally involves


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(A) placement of funds

(B) layering of funds

(C) integration of funds

(D) All of (A), (B) and (C)

(E) None of (A), (B) and (C)

15. The IMF and the World Bank were conceived as institutions to

(A) strengthen international economic co-operation and to help create a more stable and prosperousglobal economy

(B) IMF promotes international monetary cooperation

(C) The World Bank promotes long term economic development and poverty reduction

(D) All of (A), (B) and (C)

(E) None of (A), (B) and (C)

16. Capital Market Regulator is

(A) RBI

(B) IRDA

(C) NSE

(D) BSE

(E) SEBI

17. In the term BRIC, R stands for

(A) Romania

(B) Rajithan

(C) Russia

(D) Regulation

(E) None of these

18. FDI refers to

(A) Fixed Deposit Interest

(B) Fixed Deposit Investment

(C) Foreign Direct Investment


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(D) Future Derivative Investment

(E) None of these

19. What is Call Money ?

(A) Money borrowed or lent for a day or over night

(B) Money borrowed for more than one day but upto 3 days

(C) Money borrowed for more than one day but upto 7 days

(D) Money borrowed for more than one day but upto 14 days

(E) None of these

20. Which is the first Indian company to be listed in

NASDAQ ?

(A) Reliance

(B) TCS

(C) HCL

(D) Infosys

(E) None of these

21. RBIs open market operation transactions are carried out with a view to regulate

(A) Liquidity in the economy

(B) Prices of essential commodities

(C) Inflation

(D) Borrowing power of the banks

(E) All the above

22. Consider the following statements about Annual Supplement to Foreign Trade Policy 2009-2014:

a) Benefits Under Market Linked Focus Product Scheme to garment exports to EU extendedfrom October 2010 to March 2011.

b) List of items allowed for duty free import of gems and jewellery sector expanded.

c) Leather sector allowed to re-export of unsold imported raw hides and skins and semi-

finished leather from public bonded warehouses, without export duty.


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Which of the above statements are true?

A) Only (a) B) Only (b) C) Only (c) D) All the above E)None ofthese.

23. The first two leading countries as per the statistics of 2009 in natural rubbers consumption in

the world are ________.

a) China and Indian respectivelyb) China and Brazil respectively

c) China and USA respectively d) USA and India respectively E) None of these.

24. Government has issued an ordinance announcing ULIP as Insurance Product. Theregulations of ULIPs will now be done by _________.

a) IRDA Only b) NABARD Only c) SEBI Only d) SBI Only e) None of

these

25. Indian rupee has got its symbol as . This symbol has been designed by _______.

a) P. Kiran Kumar b) D.Udai Kumar c) Chandan Prakash Singh

d) D.Vikram Rao e) None of these

26. The government has approved of 10% stake disinvestment in two public sector units. One ofthem is coal India, which is the other one.

a) Hindustan Zinc Ltd. b) Hindustan Copper Ltd.

1. Hindustan Iron Ltd. d) Hindustan Aluminum Ltd. e) None of these.

27. Lot of Banks in India these days are offering M-Banking Facility to their customers. What is the fullform of M in M-Banking ?

(A) Money

(B) Marginal

(C) Message

(D) Mutual Fund

(E) Mobile Phone

28. Sampurna Gramin Rozgar Yojana has been launched from

a) 1 Apr 2001 b) 25 Sep 2001 c) 30 Sep 2001

d) No scheme of such title has yet been launched e) None of these


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29. Which of the following is not the part of the structure of the Financial System in India ?

(A) Industrial Finance

(B) Agricultural Finance

(C) Government Finance

(D) Development Finance

(E) Personal Finance

30. Which of the following is not the part of the scheduled banking structure in India ?

(A) Money Lenders

(B) Public Sector Banks

(C) Private Sector Banks

(D) Regional Rural Banks

(E) State Co-operative Banks

31. As we all know Govt. of India collects tax revenue on various activities in the country. Which of thefollowing is a part of the tax revenue of the Govt. ?

(i) Tax on Income

(ii) Tax on Expenditure

(iii) Tax on Property or Capital Asset

(iv) Tax on Goods and Services

(A) Both (i) and (iii) only

(B) Both (ii) and (iv) only

(C) All (i), (ii), (iii) and (iv)

(D) Only (ii), (iii) and (iv)

(E) None of these

32. We very frequently read about Special Economic Zones (SEZs) in newspapers. These SEZs wereestablished with which of the following objectives ?

(i) To attract foreign investment directly.

(ii) To protect domestic market from direct competition

from multinationals.


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(iii) To provide more capital to agricultural and allied

activities.

(A) Only (i)

(B) Only (ii)

(C) Only (iii)

(D) All (i), (ii) and (iii)

(E) None of these

33. According to FICCI study, India has managed to be the 7thlargest producer of vehicles. The

share of India in global automobile exports is a meager 1% in 2009 and ranks __________ in theworld.

a) 15th b) 20

th c) 22

nd d) 25

th e) None of these.

34. The luxury car maker BMW Group has launched BMF Financial Services as a new businessentity in India. From which country the company belongs to?

a) France b) Italy c) USA d) Germany e) None of these.

35. Many times we read about Future Trading in newspapers. What is Future Trading ?

(i) It is nothing but a trade between any two stock exchanges wherein it is decided to purchase thestocks of each other on a fixed price throughout the year.

(ii) It is an agreement between two parties to buy or sell an underlying asset in the future at apredetermined price.

(iii) It is an agreement between stock exchanges that they will not trade the stocks of each otherunder any circumstances in future or for

a given period of time.

(A) Only (i)

(B) Only (ii)

(C) Only (iii)

(D) All (i), (ii) and (iii)

(E) None of these


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36. Inflation in India is measured on which of the following indexes/indicators ?

(A) Cost of Living Index (COLI)

(B) Consumer Price Index (CPI)

(C) Gross Domestic Product

(D) Wholesale Price Index (WPI)

(E) None of these

37. Recently India signed a Tax Information Exchange Agreement with

a) USA b) Japan c) Bermuda d) Canada e) None of these

38. According to the Credit Suisse Global Wealth Report, the total wealth in India has tripled inthe past decade to $ 3.5 trillion. Indias wealth may rise by 83% to $ 6.4 trillion by

a) 2014 b) 2015 c) 2020 d) 2025 e) None of these.

39. Which of the following is true about Swavalamban Scheme?

A) Finance minister Pranab Mukherjee will launch the Swavalamban scheme in Murshidabad districtof West Bengal.

B) As per the scheme, the Centre will contribute Rs.1,000 a year to each New Pension Scheme(NPS) account opened in the current year.

C) The contribution will be made till 201314.

D) To be eligible, a person will have to make a minimum contribution of Rs.1,000 and maximumcontribution of Rs.12,000 per annum.

a) Only A,B & C b) Only A, C & D c) Only A & D d) All the above

e) None of these

40. A report on the state of good insecurity in urban India jointly prepared by the MSSwaminathan Research foundation and the United Nations World Food Programme has noted thatthe three states that witnessed a spate of farmer suicides were also states where urban foodinsecurity had worsened between 1998-2000 and 2004-06. Name these states.

a) Maharashtra, Karnataka and Andhra

b) Chhattisgarh, Karnataka and Andhra


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c) Madhya Pradesh, Bihar and Orissa d) Maharashtra, Bihar and Orissa

e) None of these

41. India has signed initial agreements for laying a pipeline to wheel gas from _________though Afghanistan and Pakistan but it is unlikely that the project will get off the ground anytime soondue to lack of stable political equations among the three south Asian countries.

a) Tajikistan b) Kazakhstan c) Turkmenistan d) Uzbekistan

e) None of these

42. The share of government (the main borrower from bilateral and multilateral sources) in Indiastotal external debt has reduced significantly to ___________in March 2010 from 60% in 1990. Thecomposition of the central governments public debt reveals that about 89% of the sovereign debt isfrom domestic sources and external debt accounts for just 11%, most of which is from multilateralsources. Besides, banks and insurance companies account for a sizeable share of the total domesticdebt.

a) 26% b) 21% c) 16% d) 11% e) None of these

43. Who has been appointed head of the newly constituted National Innovation Council (NIC)?

a) Sam Pitroda b) K Kasturirangan c) APJ Abdul Kalam

d) C Rangarajan e) None of these

44. Which committee recommended abolition of tax rebates under Section 88?

a) Chelliah Committee b) Kelkar Committee c) Shome Committee

d) Naresh Chandra Committee e) None of these

45. Tarapore Committee submitted its report on Full Convertibility on Rupee in

a) Current account b) Capital account

c) Both on current as well as on capital account

35.Special Drawing Rights (SDRs) e) None of these36.

46. CENVAT is related to

a) Sales Tax b) Excise Duty c) Custom Duty d) Service Tax

e) None of these


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47. In Rashtriya Madhyamik Shiksha Abhiyan (RMSA) Scheme, government has targeted toensure universal access to secondary level education by the year.

a) 2012 b) 2015 c) 2017 d) 2020 e) None of these

48. Which of the following schemes is not a social development Scheme ?

(A) Indira Awas Yojana

(B) Mid Day Meal

(C) Bharat Nirman Yojana

(D) Sarva Shiksha Abhiyan

(E) All are social schemes

49. Which statement is correct for the Planning Commission of India?

a) It is not defined in the Indian Constitution

b) Members and ViceChairman of it do not have a fixed working duration

c) Members do not require any minimum education d) All of these

e) None of these

50. NABARD was established on the recommendation of

a) Public Accounts Committee b) Shivaraman Committee

c) Narasimham Committee (This might be ans) d) Khandelwal Committee e)

None of these

**********************************************

Answers :

1. (D) 2. (B) 3. (A) 4. (D) 5. (C) 6. (C) 7. (D) 8. (C) 9.(A) 10. (E)


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11. (D) 12. (D) 13. (C) 14. (D) 15. (D) 16. (E) 17. (C) 18.(C) 19. (A) 20. (D)

21. (E) 22. (D) 23. (A) 24. (A) 25. (B) 26. (B) 27. (E) 28.(B) 29. (E) 30. (A)

31. (C) 32. (A) 33. (C) 34. (D) 35. (B) 36. (D) 37. (C) 38.(B) 39. (D) 40. (A)

41.(C) 42(.A) 43. (A) 44. (B) 45. (B) 46. (D) 47. (C) 48.(C) 49. (D) 50. (B)- See more at:http://www.sbank.in/2013/03/economics-three.html#sthash.qkUJmsJd.dpuf

ECONOMICSFOUR

NOTE: If none of the given answers is correct, please mark e) None of these as your answer.

1. Which of the following will decrease inflation?

a) Truckers strike b) Rise in the price of manufactured goods

c) Cut in fuel prices d) All of the above

2. Which of the following clauses of SEBI is associated with corporate government?

a) 41 b) 42 c) 49 d) 52

3. SEBI was established in

a) 1993 b) 1992 c) 1988 d) 1990 e) 1994

4. The working of SEBI includes

a) To regulate the dealings of share market

b) To check the foul dealings in share market
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c) To control the insider trading of shares d) All of these

5. LLP stands for

a) Limited Liability Partnership b) Limited Loyalty Partnership

c) Liable Limited Partnership d) Lower Level Partnership

6. NABARD is a

a) Commercial bank b) development bank c) cooperative bank

d) Regional rural bank

7. The main security guard of international trade is

a) IMF b) WTO

c) World Bank d)Asian Development Bank

8. The headquarters of the World Bank is situated at

a) Washington DC b) Geneva c) New York d) Paris

9. Open market operation is a part of

a) Income Policy b) Fiscal Policy c) Credit Policy

d) Labour Policy

10. In which year did Indias economic liberalization start?


11. Which of the following is not a feature of open economy?

a) Non-interference by govt b) Competition c) Demand and Supply

d) Consumers benefit e) Administered price

12. Which of the following is the most advocating agency for economic globalization?

a) WTO b) World Bank c) IMF d) EU

e) None of these

13. Which of the following is the core of the Basel-II norms?


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a) Non-Performing Assets b) Capital Adequacy Ratio

1. Prime Lending Rate d) Priority Sector Lending e) None of these

14. Match the following correctly.

ListI ListI

A) Apart from raising the cap on foreign (i) Insurance Laws

investment to 49% from 26%, this bill (Amendment)

seeks to allow nationalized general Bill, 2008

insurance companies to raise funds from

capital markets and change norms governing

the rights of policyholders and insures-

respect to insurance policies. (ii) Companies

B) This bill seeks a comprehensive overhaul Bill, 2008

of the company law, which has been amended

24 times since its inception in 1956. The bill

shifts the onus of regulation and oversight

over management away from the government

towards the share holders and provides for stricter

standards of approval by share holders. It also

seeks to strengthen corporate governance.


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C) The Bill, introduced in 2005, sets a framework to (iii) Pension Fund

regulate and develop pension funds, and thus Regulatory

enhance old-age income security, by allowing private and Develop-

sector to participate in the business. Many of the ment Authority

provisions of the bill have already been without Bill, 2005

statutory powers) has been established. The UPA

Government did not take it up because of opposition

from the Left parties. (iv) Banking

D) Aims to align the voting right for foreign shareholders Regulation

in Indian private banks with their stakes. At present, (Amendment)

voting right is capped at 10 per cent. The move will Bill

encourage foreign banks to raise capital either through

preference shares and some other routes that are currently

not permitted.

A B C D

a) (i) (ii) (iii) (iv)

b) (ii) (iii) (iv) (i)

c) (iii) (iv) (i) (ii)

d) ( iv) (i) (ii) (iii)

e) (iv) (iii) (ii) (i)

15. Which of the following institutions is the apex body responsible for overall development,policy, planning and financial support of agriculture and rural development?

a) National Bank for Agriculture and Rural Development

b) National Agriculture Cooperative Marketing Federation of India

c) Indian Farmers Fertilisers Cooperative Organisation.

16. The term Paper Gold refers to


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a) Paper currency b) gold of highest purity c) Special Drawing Rights.

d) oil bonds e) yellow shining paper.

17. Who among the following is responsible for the execution of the export and import policies ofthe Government of India?

a) Chairman, State Trading Corporation

b) Director-General of Trade and Commerce

c) Chief Controller of Imports and Exports d) Finance Commission

e) Ministry of Commerce

18. Consider the following relationships.

A) Deficit budgeting-Inflation B) Consumer Price Index-Inflation

C) Export Concessions-Fiscal Policy d) Income-Standard of Living

E) Income Tax-Monetary Policy Which of the above relationship is not correct?

a) A and D b) B and E c) Only C d) A and C

e) B and D

19. Taxes are collected by the Government with the basic objective(s) of

A) Curbing the growing of black money.

B) Establishing the coercive authority of the Government.

C) Financing Government plans and expenditure

D) Reducing inequalities in the society.

a) A and B only b) B and C only c) C and D only

d) A and D only e) A, B, C and D


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20. Which of the following is/are the functions of the Securities and Exchange Board of India?

A) To register and regulate collective Investment plans of mutual funds.

B) To regulate the business of stock exchange and other securities market.

C) To safeguard the interest of investors.

D) To regulate capital market with suitable measures.

a) A and C only b) B and D only c) A, B and C only

d) B, C and D only e) All A, B, C and D

21. Which of the following is/are the objective of the World Trade Organisation?

A) To enlarge production and trade of services.

B) To enlarge production and trade of goods.

C) To improve standard of living of people in the member countries

D) To ensure full employment and increase in effective demand

a) A only b) A and B only c) A, B and C only d) B and C only

d) All A, B, C and D

22. Which of the following is/are not the function(s) of the Reserve Bank of India?

A) To regulate cash and credit system of India

B) To keep Foreign Exchange Reserve

C) To issue five rupee coins and notes

D) To formulate the monetary policy.

a) B only b) D only c) A and C only d) B and D only

e) All A, B, C and D

23. Poverty is estimated by the Planning Commission on the basis of the large sample surveyson household consumer expenditure. This survey is conducted by the

a) National Statistical Organisation

b) National Sample Survey Organisation

c) National Commission on Enterprises in the Unorganised Sector

d) Centre for Monitoring Indian Economy.

e) National Family Health Survey.


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24. The economic development in India is inadequate mainly due to

a) slow rate of growth in industrial production.

b) high rate of population growth

c) slow rate of growth in agricultural production

d) shortage of resources e) shortage of manpower

25. The main objective of IMF loan to India is

a) to improve technology b) to improve agriculture

c) to increase industrial output d) to meet balance of payment problem

e) to reduce deficit in the Union Budget.

26. Which of the following is the main source of revenue for State governments in the IndianUnion?

a) Income tax and excise duty b) Land revenue and sales tax

c) Motor vehicle tax d) Building tax

e) Profession tax

27. Grants-in-aid isgiven to the States for

a) improving the Centre-State relationship b) reducing regional imbalances

c) various development schemes and rehabilitation purposes.

d) welfare of SCs and STs. e) improving the development of backward areas

28. Social Security and Social Insurance is a subject included in the

a) Concurrent List of Powers b) State List of Powers

c) Union List of Powers d) Residuary Powers e) None of these

29. Which of the following is the maximum revenue source of village panchayats?

a) Government grants b) Sales tax

c) Voluntary help by village cooperatives


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d) Local taxes on lands, fairs and festivals

e) Profit from village panchayat initiatives.

30. The impact of the Green Revolution has been mainly felt in

a) pulses b) cereals c) vegetables d) fruits e) All of these

31. Which of the following is not correct for economically under developed countries?

a) High birth rate b) High rate of unemployment

c) Low level of literacy d) Low level of involvement in primary occupations

e) None of these

32. The National Development Council of India is presided over by the

a) Finance b) Home Minister

c) Vice-Chairman, Planning Commission d) Prime Minister of India.

33. Economic and Social Planning is included in the Seventh Schedule of the Constitution as partof

a) the Union List b) the State List c) the Concurrent List

d) None of these

34. Life expectancy of the female population in India is

a) lower than its male counterpart. b) higher than its male counterpart

c) equal to its male counterpart d) declining in recent years

35. The level of a municipality in terms of nagar panchayat, municipal board/council andmunicipal corporation is normally determined on the basis of

a) the size of populationb) the population density

c) the geographical area d) the size of work force

36. The literacy rate in India, according to the 2001 census was

a) 58 per cent b) 55 per cent c) 54.5 per cent

d) 74.04 per cent (Doubt)


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37. The headquarters of the Asian Development Bank is located at

(A) Bangkok

(B) Singapore

(C) Kualalumpur

(D) Manila

38. Explicit cost means

(A) Payments made for short period

(B) Payments made for long period

(C) Payments incurred on fixed and variable costs

(D) Payments made for productive resources

39. The most important aspect affecting cropping pattern is

(A) The social consideration

(B) The economic consideration

(C) The political consideration

(D) The geographical consideration

40. Which is the most mobile factor of production ?

(A) Land

(B) Labour

(C) Capital

(D) Organisation

41. Cottage and small scale industries are desirable in Indian Economy from the point of view of

(A) Income generation


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(B) Large scale production

(C) Low cost technology

(D) Employment generation

42. Which one of the following item is entered as credit in the balance of Payment Account ?

(A) Imports from abroad

(B) Purchase of assets from abroad

(C) Sale of assets abroad

(D) Purchase of gold from abroad

43. When there are economies of scale, it means that an increase in production must be

accompanied by

(A) A reduction in total cost of production

(B) A reduction in average cost of production

(C) A reduction in prices of inputs

(D) An increase in profitability of producers

44. Changes in Bank Rate affects

(A) The market rate of interest

(B) Select industries for investments

(C) Banks giving loans

(D) The cash reserve ratios

45. Total costs is a combination of

(A) Fixed cost and variable cost

(B) Money cost and real cost


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(C) Economic cost and social cost

(D) Past cost and future cost

46. Very often we see in the advertisements published by Financing Institutes/Agencies stating that

their products are given high or average Ratings. These Rating Agencies classify bonds/investments

in how many categories ?

1. Low Risk

2. Average Risk

3. High Risk

(A) Only 1

(B) Only 2

(C) Only 3

(D) All 1, 2 and 3

(E) None of these

47. As per the reports published in various newspapers/journals etc. the economic map of the world is

being redesigned. What is/are the new emerging trends of this new economic map of the world ?

1. With India and Asia at the forefront the centre of economic gravity has shifted to East.

2. Emerging markets, with India among the leaders, are growing faster than old established markets.

3. Central banks of the countries have recognized that case-by-case liquidity solutions are not the

answers and a market wide and globally synchronized approach is needed to solve the present crisis.

(A) Only 1

(B) Only 2

(C) Only 3

(D) All 1, 2 and 3

(E) None of these

48. Under the Indira Gandhi National Widow Scheme for women abvoe 80 years the monthly

pension to be paid is Rs....... per month with effect from 1stApril 2011.

a) Rs.300 b) Rs.400 Rs.500 d) Rs.200 e) none of these.

49. Many a times we read a term in financial news papers SEPA. What is the full form of the term ?

(A) Single Exchange Processing Agency

(B) Single Euro Payments Area

(C) Single Electronic Processing Agency

(D) Super Electronic Purchase Agency

(E) None of these

50. As per the revised norms of with effect from 1stApril 2011 Indira Gandhi National Widow Pension

Scheme a monthly pension will be given to the widows above the age of....

(A) 60

(B) 65

(C) 55

(D) 70


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(E) None of these

****************************************************

ANSWERS- ECONOMICS-FOUR

1.C 2.B 3.C 4.D 5.A 6.B 7.B 8.A 9.C 10.B

11.E 12.A 13.B 14.A 15.A 16.C 17.C 18.C 19.C 20.E

21.E 22.B 23.B 24.D 25.D 26.B 27.C 28.A 29.D 30.B

31.D 32.D 33.C 34.B 35.A 36.D 37.D 38.D 39.D 40.C

41.D 42.C 43.B 44.A 45.A 46.D 47.A 48.C 49.B 50.A- See more at:http://www.sbank.in/2013/03/economics-four.html#sthash.LLfqdn11.dpuf

ECONOMICS--SIX

1. Which of the following programmes was launched to control urban poverty?A) Nehru Rozgar Yojana B) Valmiki Ambedkar Aawas YojanaC) National Slum Development Programmea) Only A b) Only B c) Only C d) Only A&B e) All A, B&C

2. When Union Govt takes the approval of the parliament regarding expected expenditure for ashort period not more than six months, instead of presenting full budget, it is knows as

a) Consolidated Fund Budget b) Extra Ordinary Budget

c) Partial Budget d) Vote on Accounte) None of these3. Which of the following is NOT a social sector programme launched by the Govt to India?

a) Sarva Shiksha Abhiyanb) National Rural Employment Guarantee Schemec) Mid Day Meal Scheme d) National Rural Health Missione) Overseas Indian Citizenship Scheme

4. Which of the following schemes was launched by the Govt of India to give focused attention tointegrated development of infrastructure and services in urban areas?

a) Jawaharlal Nehru National Urban Renewal Mission b) Bharat Nirman c) Providing Urban facilities in Rural Aread) Both (1) & (2) above e) None of these

5. What are the incentives given to the Special Economic Zones (SEZs)?

A) 100% FDI allowed for townships with residential educational and recreational facilities inthe areaB) Income tax benefits C) Exemption from Service Tax/Central Sales Tax
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a) Only A b) Only B c) Only C d) All A, B&Ce) None of these

6. Which of the following is one of the eight Millennium Development Goals set by the UNO?a) Eradication of poverty and extreme hungerb) Reduction in nuclear warheads in the worldc) Total peace in Iraq and Afghanistan d) Restoration of peace in Darfur

e) None of these7. Which of the following is NOT a food crop?

a) Maize b) Bajara c) Paddy d) Wheat e) Cotton8. Which of the following is the full form of ASHA, a scheme of the Govt of India in the field ofhealth and family welfare?

a) Accredited Social Health Activist b) American Social Health Associationc) Association of Social Health Activists d) American Social Helpers Associatione) None of these

9. Deepak Parekh committee is associated witha) Tax reforms b) Financial inclusion c) Infrastructure financingd) School education e) None of these

10. Which of the following committee is associated with the impact of futures trading of farms

commodity prices?a) Rangarajan committee b) Abhijit Sen committeec) Parekh committee d) Rakesh Mohan committee e) None of these

11. Yashpal committee is associated witha) Education b) Police reforms c) Pay scale of defence personneld) Foreign trade policy e) None of these

12. Kelkar committee is associated witha) Education reforms b) Tax reforms c) Law reformsd) National sports policies e) None of these

13. According to the interim committee directed by the Planning Commission to formulate freshcriteria for determining how poverty should be defined, a family of five with an income of less than

_______ a month in urban and ______ in rural area should be considered poor. a) Rs.5000, Rs.4000 b) Rs. 4000, Rs. 3000

c) Rs. 3000, Rs.2250 d) Rs. 2000, Rs. 1500 e) None of these14. National Rural Employment Guarantee Scheme (NREGS) has been renamed as

a) Mahtama Gandhi NREGS b) Jawahar Lal Nehru NREGSc) Indira Gandhi NREGS d) Rajiv Gandhi NREGS

e) None of these15. The target group of Rashtriya Swasthya Bima Yojana is

a) Landless in rural area b) BPL urban poorc) BPL families in unorganised sector d) SCs and STs

e) None of these16. Aam Aadmi Bima Yojana was launched on

a) Jan 1, 2005 b) Jan 25, 2006 c) Aug 15, 2006d) Oct 2, 2007 e) None of these

17. Which scheme provides pension to widows between the age group of 40-64 years?a) Kasturba Gandhi National Widow Pension Schemeb) Kamala Nehru National Widow Pension Schemec) Indira Gandhi National Widow Pension Schemed) Sonia Gandhi National Widow Pension Scheme e) None of these

18. Accredited Social Health Activist (ASHA) scheme was launched undera) National Rural Health Mission b) Kishori Shakti Yojanac) NREGA d) Pradhan Mantri Swasthya Yojanae) None of these

19. The main aim of the ASHA scheme isa) the economic empowerment of women b) increasing female literacyc) decreasing infant and maternal mortality d) increasing educational awarenesse) None of these

20. Which the following is associated with urban development?A) Jawahar Lal Nehru National Urban Renewal Mission


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B) Indira Awas Yojana C) Rajiv Awas YojanaD) NREGAa) Only A&B b) Only A c) Only A & C d) Only C & De) All the above

21. Which of the following schemes is associated with Bharat Nirman Yojana?a) Sarva Shiksha Abhiyan b) National Rural Health Mission

c) Mid-Day Meal Scheme d) Janani Suraksha Yojanae) Pradhan Mantri Gram Sadak Yojana

22. It measures their progress on three key indicators education, life expectancy and income bypurchasing power parity. It was developed in 1990 jointly by Amartya Sen and Mahbub ul Haq.Identify it.

a) Human Development Index b) Human Growth Indexc) Human Living Index d) World Standard Indexe) None of these

23. Name the scheme which aims to free the country from slums in the next five years.a) Jawahar Awas Yojana b) Indira Awas Yojanac) Rajiv Awas Yojana d) Mahatma Awas Yojanae) None of these

24. Which of the following is not a component of Bharat Niraman Yojana (BNY)?

a) Housing b) Telephony c) Electricityd) Communication e) Roads

25. The Centre has cleared a proposal to shift to a monthly Wholesale Price Index (WPI) seriesinstead of the current weekly one, with the base year to be changed to 2004-05 from ________ atpresent.

a) 1993-94 b) 1995-96 c) 1998-1999d) 2002-2003 e) None of these

26. The National Mission for Female Literacy is renewed effort to make 70million people60million of them womenfunctionally literate by


27. Which of the following is NOT a measure to control inflation adopted by the governmentand/or RBI?

a) Monetary Policy b) Fiscal Policy c) Financial Inclusiond) Price Control e) Bank Rate Policy

28. As we all know, the Wholesale Price Index is divided in-to five main commodity groups.Which of the following is NOT considered separately as a group while calculating Wholesale PriceIndex (WPI)?

a) Services and/or Production by Public Sector Units b) Agriculturec) Imports & Exports d) Mininge) Manufacturing

29. In terms of economics, the total value of the output (goods and services) produced andincome received in a year by domestic residents of a country put together is called

a) Net National Product b) Gross National Productc) Gross National Income d) National Income e) None of these

30. As per the reports in various newspapers/magazines, India could not achieve the target of

industrial growth fixed in the Tenth Five Year Plan. What was the target fixed for the same? a) 12% b) 11% c) 10% d) 8% e) None of these

31. Which of the following schemes was launched a few years back to provide wage employmentto the rural people in India (The programme is being run successfully in addition to NREGA?

a) Indira Awas Yojana b) Accelerated Rural Water Supply Programmec) Total Sanitation Campaign d) Sampoorna Grameen Rozgar Yojanae) Pradhan Mantri Gram Sadak Yojana

32. Which of the following is TRUE about the Rajiv Gandhi National Drinking Water MissionA) To provide safe drinking water in urban slumsB) To provide sustainable safe drinking water in rural areasC) To provide sustainable and safe drinking water in those parts of the country where

ample water is not available, like coastal areas and desert areas.a) Only A b) Only B c) Only C d) All A, B&C

e) None of these


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33. As per the news reports in various newspapers/magazines, which of the following sectors ofthe Indian economy slipped into negative growth during 2008-09?

a) Service Sector b) Agriculture Sector c) Industrial Sectord) Energy Sector e) None of these

34. Rural sanitation programme of the Central Govt is a very popular programme in India. Whichof the following was/were the objectives of the same?

A) To provide home sanitation B) To provide disposal of garbageC) To provide wage employment to the poor of the society in rural areas.a) Only A b) Only B c) Only C d) Both A&Be) All A, B&C

35. Which of the following is/are true about the economy of China?A) China as a country is rich but the Chinese are not so.B) Chinas growth strategy has been based mainly on exports.C) Despite attaining rapid growth and also bringing millions of people out of poverty, China

remains a poor country.a) Only A b) Only B c) Only C d) Both A&B c) All A,B&C

36. What growth rate per annum does India need if it has eradicate its poverty in the next 25years?

a) 6% b) 9% c) 8% d) 7% e) 10%

37. The energy policy of India says that energy security can be ensured by augmenting thedomestic energy resource base and by maintaining reserves equivalent to the oil imports sufficient for

a) 15 days b) 90 days c) 60 days d) 30 days e) One year38. Which of the following is/are the major reforms the Govt has introduced in the bankingsector?

A) Dismantling the complex system of interest rate controlsB) Eliminating prior approval of the RBI for large loansC) Introduction of capital adequacy norms and a few other prudential norms.a) Only A b) Only B c) Only C d) All A, B&C e) None of these

39. Which of the following is/are the recent trends noticed in the Indian economy that have raisedconcern about food security, farmers income andpoverty?

A) Slowdown in growth in agriculture sectorB) Widening economic disparities between the irrigated and the rainfed areas

C) Increased non-agricultural demand for land and water as a result of fast urbanization. a) Only A b) Only B c) Only C d) All A,B&C e) None of these

40. As per the reports in various newspapers/magazines etc, the agricultural productivity in Indiais low in comparison to other countries. What are the main reasons of the same?

A) Lack of credit and marketing facilities B) Uneconomic holdingsC) Outdated agricultural techniquesa) Only A b) Only B c) Only C d) Both A&C e) All A, B&C

41. An insurance scheme for the agriculture sector was introduced by the Govt of India. Which ofthe following represents the name of the same?

a) NAIS b) RIDF c) AICIL d) CACP e) None of these42. Which of the following ministries lays down the policies and programmes for the developmentand regulation of the countrys water resources?

a) Ministry of Rural Development b) Ministry of Agriculture

c) Ministry of Environment and Forests d) Ministry of Tribal Affairse) Ministry of Water Resources

43. Which of the following phenomenon is also known as Climatic Migration?a) White Revolution b) Green Revolution c) Global Warmingd) Urbanisation e) None of these

44. India is a permanent member of which of the following organizations?a) NATO b) Non-Aligned Movement c) G-8d) OPEC e) None of these

45. Which of the following is correct about the Rajiv Gandhi Grameen Vidyutikaran Yojana?A) The schemes was launched in a few backward states only.B) The aim of the scheme was to provide electricity to all villages having a population of 5000

and above.C) The scheme achieved its target in less than 10 years time.

a) Only A b) Only B c) Only C d) All A, B&C e) Non of these


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46. Some agro-processing units make an advance agreement with the farmers and decide topurchase the entire production of certain fruits, vegetables and medicinal plants on an agreed-uponcost/price. This type of arrangement is known as.

a) Import farming b) Crop farming c) Adoptive farmingd) Loan farming e) Contract farming

47. National Food Security Management scheme was launched by the Govt of India to achieve

which of the following?A) Demonstration of improved production technologyB) Distribution of high-yield variety seedsC) To distribute fertilizer subsidy to farmers directly in casha) Only A b) Only B c) Only C d) Both A&B e) All A, B&C

48. What is the full form of CFSA as used in financial sectors?a) Corporation of Farmers and Subsidiary Allocationb) Committee on Financial Sector Assessmentc) Committee on Farming Sector and Agronomyd) Commission to Float Scientific Agriculture e) None of these

49. Which of the following associate banks of the State Bank of India has merged with SBI inAugust 2010?

a) State Bank of Bikaner and Jaipur b) State Bank of Indore

c) State Bank of Travancore d) State Bank of Mysore50. Which of the following countries has emerged as the second largest investor in Britain?

a) India b) France c) China d) Japan****************************************

ANSWERSECONOMICS -SIX

1.E 2.D 3.E 4.A 5.D 6.A 7.E 8.A 9.C 10.E

11.A 12.B 13.C 14.A 15.C 16.D 17.C 18.A 19.C 20.C

21.D 22.A 23.C 24.D 25.A 26.A 27.C 28.C 29.B 30.D

31.D 32.B 33.E 34.D 35.E 36.B 37.B 38.C 39.D 40.E

41.A 42.E 43.D 44.B 45.E 46.E 47.D 48.C 49.B 50.A

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ECONOMICS7

Choose the Correct Answers:

1.Which one of the following is not a characteristic of a developing economy?a Self-sufficiency in capitalb Low per capita incomec Backward technologyd Excessive dependence on agriculture

2. With the advancement of the economya The share of industry in national product risesb The share of agriculture in national product fallsc The share of agriculture in national product rises

d None of the above

3. The Indian economy in the pre-British period consisted of isolated villages which were
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a Deficient b Surplusc Self-sufficient d None of the above

4. The dominant occupation of the Indians isa Trade b Industryc Transport

d Agriculture

5. Predominance of agriculture in a countrys economy both in terms of employment and incomegeneration shows that the economy isa Developed b Developingc Highly developed d None of the above

6. The best choice for the developing country isa Stable growth b Slow growthc Fast growth d None of the above

7. The structural changes in the composition of national income is the consequence of the process of

planned programme of economic developmenta Agriculture origin b Industrial originc Transport origin d Trade origin

8. In the Indian context, the study of poverty were made by.1 Dandekar & Rath 2. P.K. Bardhan3. B.S. Minhas 4. M. Ahluwalia5. I.J. Ahluwalia

a 1 and 2 only b 2 and 3 onlyc 1, 2, 3, 4 only d 3, 4, 5 only

35.Where is the headquarters of State Bank of India?

a. Chennai b. New Delhi c. Mumbai d. none of these.

10. In which one of the following sectors was Co-operative Movement in India initiated?a Agricultural credit b Farming activitiesc Agricultural marketing d Consumer co-operation

11. The apex body for formulating plans and co-coordinating agriculture, animal husbandry, fisheries,education and research in India isa National Commission on Agricultureb Directorate Marketing and Inspectionc Bureau of Indian Standardsd Indian Council of Agricultural Research

12. Central Warehousing Corporation was set up in India in the yeara 1947 b 1952 c 1959 d 1960

13. What are the economic factors that causes high birth rate in India?

d. Predominance of agriculturedi. Slow urbanization and predominance of village

dii. Poverty

a 1 only b 1 and 2 only


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c 2 and 3 only d 1, 2, and 3

14. The unemployment is caused primarily bya High population growthb High birth rates in the rural areac The defective manpower planning

d None of the above

15. A country can hope to overcome the problem of population explosiona Urbanisation b Educationc Both a and b d None of the above

16. In India, present trend of rapid urbanization is due toa Influence of cinema and electronic mediab Break up of joint family systemc Abolition of zamindari systemd Lack of employment opportunities in rural areas

17. Indian farmers insurance against crop failure is the process of one of

a Share cropping b Relay croppingc Mixed cropping d Dry farming

18. What is the minimum permissible age for employment in any factory or mine?a Twelve years b Fourteen yearsc Sixteen years d Eighteen years

19. The modern State isa Laissez faire State b Aristocratic Statec Welfare State d Police State

20. Welfare State is the aim ofa Individualism b Anarchism

c Democratic Socialism d Scientific Socialism

21. In a free economy inequalities of income are mainly due toa Free competitionb Private property onlyc Differences in the marginal productivity of labourd. Private property and inheritance

22. Change in demand refers toa Increase in quantity demanded on the same demand curveb Changing relation of demand and supplyc Shift in demand curved Decrease in quantity demanded on the same demand curve

23. According to the law of demand, when pricea Increases demand decreasesb Increases demand increasesc Decreases demand decreasesd Decreases demand does not change

24. Which of the following is at present the largest power using sector of the Indian economy?a Agricultureb Domestic consumers and street lightingc Industryd Transport and communications, including Railways

25. On which of the following do people of India spend most of their income?a Clothing b Food


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c Fuel and Light d Household durables

26. For which of the following is the largest area (in acres) used in India?a Growing tillage crops b Grazing and grasslandsc Forestry d Villages, towns and cities

27. Demands for goods is elastic ifa The demand for the goods increases when the price failsb The quantity demanded increases less than proportionately with the decrease in price level c A decrease in price results in a decrease in total expenditure on the commodityd All the above situations exist

28. Which of the following is not viewed as national debt?a Life insurance policiesb Long-term Government bondsc National savings certificatesd Provident Fund

29. Which one of the following is not an infrastructure industry?

a Electricity b Coalc Petroleum d Sugar

30. Economic growth meansa An increased output of goods and servicesb Increase in Gross National Product over a long period of timec Increase in Gross Domestic Product over timed All of the above

31. Under developed countries export trade is highly biased towardsa Primary products b Capital goodsc Manufactured goods d Consumer goods

32. Which among the following was not a characteristic of our economy at the time of independence?a We were exporting capital goodsb We were self-sufficient before facing the chaos of partitionc Indian economy was partially stagnantd None of the above

33. Which one of the above following is not included in the primary occupation?a Agriculture b Fishingc Plantation d Trading

34. Indian economy prior to independence remained under-developed due to a Economic reasons b Social institutionsc Foreign rule d All of the above

35. Economic development can be measured in terms of changes ina Real per capita incomeb Average cost of living of the working classc GNPd None of the above

36. The characteristic of underdeveloped country isa Low rate of raving b Lack of technologyc Lower productivity d None of the above

37. Indian economy isa Developing economy b Mixed economy

c Federal country d All of the above


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38. Socialist Pattern comes througha Free economy b Public sectorc Mixed economy d Laissez-faire

39. Secondary occupations in a country do not include the following occupations. Which one?a Communications

b Manufacturingc Small scale cottage industriesd Workshops

40. One among the following is not included in the tertiary occupation. Which one?a Banking b Industryc Trade d Transport

41. Annual growth rate of National Income was recorded lowest duringa Second Plan b Third Planc Fifth Plan d Sixth Plan

42. When was the New Liberalised Industrial Policy announced in India?

a 1989 b 1990c 1991 d 1992

43. Equilibrium price is that whicha Equates consumers and producers surplusb Maximises consumers satisfactionc Equates supply and demandd Maximises producers profit

44. One of the main factors that led to rapid expansion of Indian exports isa Imposition of import dutiesb Liberalisation of the economyc Recession in other countries

d Diversification of exports

45. Which is the oldest well-established industry in India?a Iron and steel b Jutec Cotton textiles d None of these

46. Which of the following is most likely to cause an immediate increase in the size of the workingpopulation?a A rise in the average size of familiesb An increase in the birth ratec A fall in the death rate of the over 60 year-oldsd More favourable tax treatment of the earnings of married women

47. Which of the following will tend to raise the market rate of interest in the long run?a A fall in the marginal productivity of capitalb An increase in the amount of savings by individualsc A rise in consumer demand for present over future consumption d None of the above

48. Public sector consists of those enterprises in which the State owns-a 50 per cent of the capital b 66 per cent of the capitalc 85 per cent of the capital d 100 per cent of the capital

49. Which techniques of production are preferable to India?a Labourintensive techniqueb Capital-intensive technique

c Both a and bd None of the above


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50. The Balanced growth theory was propounded bya H. Leibenstein b J. Venec A.K. Sen d R. Nurkse

51. Who has propounded the doctrine of unbalanced growth?

a R. Nurske b Resenstein Rodenc H. Myint d Albert O. Hirschman

52. Which of the following industry developed well before independence?a Heavy engineering b Machine toolsc Chemical industries d Textiles

53. India still remains one of the most under developed nations in terms ofa Natural resources b The availability of capitalc Per capita income d Per capita expenditure

54. While considering the Gross National Product (GNP), which of the following is notrequired?

a Government purchases of goodsb Per capita income of individualsc Private investmentd Net foreign investment

55. The rate of capital formation in under developed economy is low due toa Widespread povertyb Demonstration effect to follow suit the consumption pattern of the developed countriesc Lack of natural resourcesd High defence expenditure

56. When did the Reserve Bank of India become a State-owned institution?a 1943 b 1947

c 1949 d 1969

57. Regional Rural Bank Ordinance was enacted by the govt. in the yeara 1975 b 1978c 1980 d 1982

58. The effect of occupational change in a country has the following bearing on the percentagepopulation of the townsa It decreases b It has no effectc It increases d It decreases very sharply

59. The Oil and Natural Gas Commission was set up ina 1956 b 1957

c 1958 d 1959

60. In a country where higher percentage of its population relies, for its livelihood on agriculture, it isan index ofa Developed economy b Capitalist economyc Socialist economy d Underdeveloped economy

61. The nature of Indian Planning Commission isa Autonomous corporation b Advisory bodyc Government body d A Ministry

62. Which one is included in the core industry?a Public sector enterprises

b Private sector enterprisesc Multi-national enterprises


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d Basic industries and defence

63. The Planning Commission in India was set up in 1950 bya An ordinance enacted by presidentb An amendment of Constitutionc Government

d An act of parliament

64. The idea of planning in India can be traced back to latea Pt. J.L. Nehru b M.K. Gandhic Mr. Visvesvaraiya d Dadabhai Naoroji

65. The Bombay Plan is associated witha Dr. S.N. Aggarwal b Sh. M.N. Royc Dr. D.R. Gadgil d Eight Industrial Magnates of Ind.

66. The Planning in Indian Economy is based on thea Mixed economy system b Capitalist systemc Gandhian system d Socialist system

67. The ex-officio Chairman of the Planning Commission of India isa The Planning Minister b The Presidentc The Prime Minister d The Vice-President

68. The five-year plans of our country aim at making the countrya Self-sufficient b Richc Industrially developed d Trade oriented

69. Draft five-year plans is finally approved bya The President b National Development Councilc Parliament d Planning Commission

70. The underlying growth model of the First Five Year Plan was based on the model ofa Harrod-Domar b Marxianc Mahalanobis d J.M. Keynes

71. The Second Five Year Plan was based on the model ofa Dr. V.K.R.V. Rao b Prof. P.C. Mahalanobisc Harrod-Domar d J.M. Keynes

72. The main emphasis laid in the Second Plan was ona Agriculture b Powerc Industry d None of these

73. Planning in India under Pt. J.L. Nehru emphasized

a Development of heavy and core industriesb Small scale farmingc Large scale consumers goods industriesd Small scale and cottage industries

74. Generally perspective plans range for a period ofa Four years b Five to ten yearsc Fifteen to twenty years d Twenty to thirty years

75. For the first time a strategy of industrialization and development of heavy industries was adoptedina First Plan b Second Planc third Plan d Fourth Plan


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76. Which of the following is incorrect?a 195156 First Five Year Planb 195661 Second Five Year Planc 196166 Third Five Year Pland 196671 Fourth Five Year Plan

77. The National Development Council was founded ina 1950 b 1951c 1952 d 1953

78. Nehruvian planning emphasized ona Heavy and core industriesb Science and technologyc Small scale industriesd Agriculture

79. With the change of the Government in the center Fifth plan was terminated aftera Five years b Six yearsc Four years d Three years

80. The maximum contribution to the resource mobilization of the public sector for the plans comesfroma Internal borrowingb Foreign borrowingc Surplus of public enterprisesd Tax revenue

81. A special feature of the Sixth Plan wasa Sectoral planning b Area planning approachc Planning from top d Decentralisation of planning

81. Which pair is wrong?

a First Planagriculture and irrigationb Second Planheavy industriesc Thrid Planminimum needs programmed Fifth Planpoverty removal

82. The set of basic priorities in the Seventh Plan isa Food, Work and Productivityb Growth, with Social Justicec Garibi Hatao and Productivityd Growth and Expansion of Employment Opportunities

83. The main function of the National Development Council in India is toa. Promote national integration

b. Review the working of the National Plan from time to timec. Develop villagesd. None of the above

84. The first modern industry to develop in India wasa Iron and Steel industry b Cotton textile industryc Engineering industry d Cement industry

85. The multiplier is the factor by whicha. A change in income changes savingb. A change in income changes investmentsc. An increase in investment lowers incomed. A change in autonomous expenditure changes income

86. National Income of a nation is


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a Governments annual incomeb Sum total of factor incomesc Surplus of public sector undertakingsd Exports minus imports

87. Economic planning refers to

a. The mobilization of taxesb. The allocation of resourcesc. The planning of manpowerd. The mobilization of both taxes and manpower

88. Which of the following is an economic factor for the causes of poverty?a Low productivity in agricultureb Rapid rise in populationc Inequalities of incomed All of the above

89. Amongst the Handicrafts group, the highest export comes froma Brass work b Poultry and ivory

c Sandalwood work d Precious stones and pearls

90. India earns the maximum foreign exchange froma U.S.A. b Japanc Russia d U.K.

91. The principal commodities which consist the exports of India area Gems and jewelleryb Readymade garmentsc Jute manufacture and handmade carpetsd All of the above

92. During the colonial rule Indias exports mainly consisted of

a A few primary commoditiesb Manufactured commoditiesc Handicraftsd None of the above

93. The biggest public sector undertaking in India isa Indian Railways b ONGCc LIC of India d HMT

94. Capital intensive industries causea Larger employment opportunitiesb Increase in capital formationc Unemployment

d All of the above

95. The Tata Iron and Steel CO. (TISCO) was set up in Jamshedpur in the yeara 1904 b 1906c 1907 d 1909

96. Which government undertaking is responsible for the management of the public steel plants?a SAIL b GAILc ONGC d BHEL

97. The source of largest revenue in India isa Direct taxes b Indirect taxesc Sales tax d Excise duty

98. The major emphasis in the Third Plan was on


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a Making India self-reliantb Adult educationc Green Revolutiond Food for work programme

99. Change in which of the following is the best indicator of the changes in the standard of living of

the people of country?a. Cost of living index b. Index of industrial productivityc. Per Capita income d. Whole sale price index

100. It is impossible for a factor of production to earn economic rent if ita. Is in perfectly inelastic demandb. Is in perfectly elastic supplyc. Is not a fixed supplyd. Has more than a single use

*******************************************

ANSWERSECONOMICS-7

1.a 2.b 3.c 4.d 5.b 6.c 7.c 8.c 9.c 10.b

11.d 12.c 13.d 14.c 15.c 16.d 17.c 18.b 19.c 20.c

21.d 22.c 23.a 24.c 25.b 26.a 27.a 28.d 29.d 30.d

31.a 32.a 33.d 34.d 35.a 36.d 37.d 38.c 39.a 40.b

41.b 42.c 43.c 44.b 45.c 46.d 47.c 48.d 49.a 50.d

51.d 52.d 53.c 54.b 55.a 56.c 57.c 58.c 59.a 60.d

61.b 62.d 63.c 64.c 65.d 66.a 67.c 68.a 69.b 70.a

71.b 72.c 73.a 74.c 75.b 76.d 77.c 78.b 79.c 80.a

81.b 82.c 83.b 84.b 85.d 86.b 87.b 88.d 89.d 90.a

91.d 92.a 93.a 94.c 95.c 96.a 97.d 98.a 99.c 100.b - See more at:http://www.sbank.in/search/label/Economics#sthash.74eZpFHp.dpuf
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