1. The term “Washington consensus” was coined by..
a) Ragnar Frisch
b) John Williamson
c) John Marshall
d) Abhijit Banerjee
1-b; The term “Washington consensus” was coined by the US economist John Williamson in 1989.
1-b; The term “Washington consensus” was coined by the US economist John Williamson in 1989.
2. Which of the following is a method to calculate National income?
a) Output or value added method
b) Income method
c) Expenditure Method
d) All the above
2-d; Income is used for expenditure, and expenditure, in turn, leads to further production. There are three phases of circular flow of national income. So there are three methods of measuring national Income.
2-d; Income is used for expenditure, and expenditure, in turn, leads to further production. There are three phases of circular flow of national income. So there are three methods of measuring national Income.
3. In which years rolling plan was introduced?
a) 1977-78
b) 1976-77
c) 1975-76
d) 1974-75
3-a; It was introduced by Morarji Desai(Janata Government).
3-a; It was introduced by Morarji Desai(Janata Government).
4. Which of the following are the main causes of unemployment in India?
a) Rural - Urban Migration
b) Defective Educational System
c) Lack of Infrastructure Development
d) All the above
4-d.
4-d.
5. It is a situation in an economy when inflation and unemployment both are at higher levels, contrary to conventional belief..
a) Bottle neck inflation
b) Skew Flation
c) Inverse curve
d) Stagflation
5-d; Stagflation is basically a combination of high inflation and low growth.
5-d; Stagflation is basically a combination of high inflation and low growth.
6. Which of the following is an open market operation of the RBI?
a) Buying and selling of shares
b) Trading in securities
c) Transactions in gold
d) Lending to commercial banks
6-b; Open Market Operations are the market operations conducted by the Reserve Bank of India by way of sale/ purchase of Government securities to/ from the market with an objective to adjust the rupee liquidity conditions in the market on a durable basis
6-b; Open Market Operations are the market operations conducted by the Reserve Bank of India by way of sale/ purchase of Government securities to/ from the market with an objective to adjust the rupee liquidity conditions in the market on a durable basis
7. UDAY scheme is associated with.....
a) Electricity Distribution Companies
b) Irrigation Scheme
c) Crop loan to farmers
d) Small scale industries
7-a; UDAY (Ujwal DISCOM Assurance Yojana) was launched by the GoI. It aims to reduce interest burden of the DISCOMs, cost of power and their Aggregate Transmission & Technical losses.
7-a; UDAY (Ujwal DISCOM Assurance Yojana) was launched by the GoI. It aims to reduce interest burden of the DISCOMs, cost of power and their Aggregate Transmission & Technical losses.
8. Expand NEER....
a) Nominal Effective Exchange Rupee
b) National Effective Exchange Rate
c) Nominal Economic Exchange Rate
d) Nominal Effective Exchange Rate
8-d; The Nominal Effective Exchange Rate (NEER) of the rupee is a weighted average of exchange rates before the currencies of India’s major trading partners.
8-d; The Nominal Effective Exchange Rate (NEER) of the rupee is a weighted average of exchange rates before the currencies of India’s major trading partners.
9. Economic rent refers to....
a) Payment made for the use of labour
b) Payment made for the use of capital
c) Payment made for the use of organisation
d) Payment made for the use of land
9-d; Rent refers to that part of payment by a tenant which is made only for the use of land.
9-d; Rent refers to that part of payment by a tenant which is made only for the use of land.
10. Which Committee suggested the need of an Organized money market in India?
a) Chakravarthy Committee
b) Vahul Committee.
c) Rangarajan Committee
d) Manmohan Singh Committee
10-a; It was the Chakravarthy Committee (1985) which, for the first time, underlined the need of an organised money market in the country.
10-a; It was the Chakravarthy Committee (1985) which, for the first time, underlined the need of an organised money market in the country.
11. National income is based on....
a) Total revenues of the state
b) Production of goods and services
c) Market prices
d) Factor prices
11-b; National income is based on the production of goods and services.
11-b; National income is based on the production of goods and services.
12. Which five-year plan known as “RaoManmohan plan”?
a) Fifth plan
b) First Plan
c) Seventh plan
d) Eighth plan
12-d; It is a first plan after economic reforms.
12-d; It is a first plan after economic reforms.
13. Who Made the first systematic assessment of poverty in India?
a) Amartya Sen
b) Abhijit Banerjee
c) Rangarajan
d) VM Dandekar
13-d; VM Dandekar and N Rath made the first systematic assessment of poverty in India in 1971, based on National Sample Survey (NSS) data from 1960-61.
13-d; VM Dandekar and N Rath made the first systematic assessment of poverty in India in 1971, based on National Sample Survey (NSS) data from 1960-61.
14. Under the minimum reserve system, the Reserve Bank of India as the sole authority of note issue is required to maintain assets worth not less than....
a)115 crores of rupees
b) 85 crores of rupees
c) 200 crores of rupees
d) 210 crores of rupees
14-c; Since 1957, the RBI is required to maintain gold and foreign exchange reserves of Rs.200 crore (2 billion), of which at least Rs.115 crore should be in gold and Rs.85 crore in the form of Government Securities. The system as it exists today is known as the minimum reserve system.
14-c; Since 1957, the RBI is required to maintain gold and foreign exchange reserves of Rs.200 crore (2 billion), of which at least Rs.115 crore should be in gold and Rs.85 crore in the form of Government Securities. The system as it exists today is known as the minimum reserve system.
15. When the budgetary proposals of a government for a particular year proposes higher expenditures than the receipts, it is known as a....
a)Deficit Budget
b) Monetised Deficit
c) Demonetised deficit
d) None of the above
15-a; If the budget proposes lesser expenditures than the receipts is a surplus budget.
15-a; If the budget proposes lesser expenditures than the receipts is a surplus budget.
16. Which of the following institution is known as the soft window of the WB....
a) The International Bank for Reconstruction and Development
b) The International Development Agency
c) The International Finance Corporation
d) The Multilateral Investment Guarantee Agency
16-b; The International Development Agency (IDA) which is also known as the soft window of the WB was set up in 1960 with the basic aim of developing infrastructural support among the member nations, long-term lending for the development of economic services.
16-b; The International Development Agency (IDA) which is also known as the soft window of the WB was set up in 1960 with the basic aim of developing infrastructural support among the member nations, long-term lending for the development of economic services.
17. Expand REER.....
a) Real Effective Exchange Rate
b) Real Economic Exchange Rate
c) Rare Effective Exchange Rate
d) Effective Exchange Rate
17-a.
17-a. Real Effective Exchange Rate
18.The name of UTI bank ltd was changed in 2007 as which of the following?
a) AXIS bank
b) YES Bank
c) Indian Bank
d) Federal Bank
Answer: A [AXIS bank] In the year 2007, the name of UTI Bank was changed into Axis Bank. It is presently India’s 3rd largest private sector lender and is headquartered at Mumbai.
A [AXIS bank] In the year 2007, the name of UTI Bank was changed into Axis Bank. It is presently India’s 3rd largest private sector lender and is headquartered at Mumbai.
19.In which year Government of India scrapped the exim scrips and introduced partial convertibility of Rupee?
a) 1990
b) 1991
c) 1992
d) 1993
Answer: C [1992]
C [1992]
20.Who among the following was the first Deputy Chairman of the Planning commission ?
a) V.T. Krishnamachari
b) C.M. Trivedi
c) Gulzari Lal Nanda
d) Ashok Mehta
Answer: C [Gulzari Lal Nanda] Gulzari Lal Nanda was first deputy chairman of erstwhile Planning Commission. He later became Prime Minister of India.
C [Gulzari Lal Nanda] Gulzari Lal Nanda was first deputy chairman of erstwhile Planning Commission. He later became Prime Minister of India.
Leave a Reply