1. The supply-side economics, which always gets attention in Indian, lays greater emphasis on the point of view of——
a) Producer
b) Global economy
c) Consumer
d) Middle-man
a) Producer
2. In India the term National Income represents:
a) Gross national product at constant prices minus depreciation plus net factor income from abroad
b) Gross national product at constant prices minus depreciation plus net factor income from abroad
c) Gross national product at market prices minus depreciation and indirect taxes plus subsidies and net factor income from abroad
d) Gross national product at constant prices minus net factor income from abroad.
a) Gross national product at constant prices minus depreciation plus net factor income from abroad
3. To know whether the rich are getting richer and the poor getting poorer, it is necessary to compare---
a) The wholesale price index over different periods of time for different regions
b) The distribution of income of an identical set income recipients in different periods of time
c) The distribution of income of different sets of income recipients at a point of time
d) The availability of food grains among two sets of people, one rich and the other poor, over different periods of time.
b) The distribution of income of an identical set income recipients in different periods of time
4. Tourism industry in India is quite small compared to many other countries in terms of its potential and size. Which one of the following statements is correct in this regard?
Select your answer using the code given below:
1.India has been called by the western tourists as a country of heat and dust
2.India has not marketed its tourism sector methodically.
3.The infrastructural bottlenecks and the law and order situation together with terrorism have been the other reasons
Code:
a) 1 and 2 only
b) 2 and 3
c) 1 and 3
d) 1, 2 and 3
b) 2 and 3
5. Consider the following statements about the idea of 'micro-finance' in india and select the corret ones using the code given below:
1.Micro-finance is a small-scale financial intermediation, inclusive of savings, credit insurance, business services and technical support provided to the needy borrower
2.The trust of the micro finance initiative is to channelize production and consumption credit in multiple doses based on the obsorption capacity of the propective borrower
3.It has evolved through following different models at different times- a 'charity based model' to a thrift-based mode' and finally to the 'trust and creditworthiness model'
4.It was in Australia where evolved the link between microfinance institutions and the formal financial institutions
Code:
a) 1,2 and 3
b) 2,3 and 4
c) 1,3 and 4
d) 1,2,3 and 4
d) 1,2,3 and 4
6. Match List-I with List-2 correctly and select your answer using the code given below:
List-I(Share Index)
A.Kosdaq
B.Bovespa
C.Merval
D.SSE Composite
List-II(Countries)
1.Argentina
2.China
3.Brazil
4.S.Korea
Code:
A B C D
a) 1 2 3 4
b) 4 3 1 2
c) 4 1 3 2
d) 4 3 2 1
b) 4 3 1 2
7. What is incorrect about a rights issue?
a) First incorrect being given to the existing shareholders while an existing company issues fresh shares
b) Convertible debentures are never issued under this mode
c) Only what is not subscribed can be issued to the public
d) This is just opposite to the public issue
b) Convertible debentures are never issued under this mode
8. Select the correct one/ones out of the statements given below using the code given below:
1.Equity capital is the same as ordinary share capital
2.A new company set up by existing companies with track record of atleast five years of consistent profitability is allowed by the SEBI guidelines to issue shares at a premium
3.Money mobilized via premiums is invested in the company
Code:
a) 1 and 2
b) 2 and 3
c) 1 and 3
d) 1, 2 and 3
d) 1, 2 and 3
9. Select the incorrect function of the Export Credit Guarantee Corporation (ECGC):
a) Provides a range of credit risk insurance covers to exporters against loss in export of goods and services
b) Offers guarantees to banks and financial institutions to enable exporters to obtain better facilities from them
c) One of its divisions provides export insurance companies based abroad
d) Provides Overseas Investment Insurance(OII) to Indian companies in India using the code given below:
c) One of its divisions provides export insurance companies based abroad
10. Select the incorrect one/ones about the public sector insurance companies in India using the code given below:
1.There are 5 public sector companies involved in offering various general insurance products in India today.
2.There are two dedicated public sector agriculture insurance companies in India today.
Code:
a) Only 1
b) Only 2
c) 1 and 2
d) Neither 1 nor 2
b) Only 2
11. Select the correct one/ones about the re-insurance market in India using the code given below:
1.There is a single re-insurer in the Indian insurance industry
2.IRDA itself functions as the re-insurer in India
Code:
a) Only 1
b) Only 2
c) 1 and 2
d) Neither 1 nor 2
a) Only 1
12. Select the correct statements about 'countervailing duty' using the code given below:
1.A tax imposed on import by the importing country to neutralize the benefit of export subsidies offered by the exporting country.
2.It is called anti-dumping duty also and it does not come under the preview of the WTO
Code:
a) Only1
b) Only 2
c) 1 and 2
d) Neither 1 nor 2
a) Only1
13. Consider the following statements related to certain concepts of economic management which keep frequently appearing in the new__
1.Falling share of industry in the GDP is known as de industrialization
2.Falling saving rate is called as dissaving
3.Disgrorgement is a form of money laundering
4.Demerger is creating more companies out of one company Select the correct ones from list given above, using the code given below:
Code:
a) 1 and 2
b) 2 and 3
c) 1,2 and 3
d) 1,2 and 4
c) 1,2 and 3
14. How can a foreign company set up business operations in India? Select the correct code given below:
1.By setting up a company under the companies Act, 1956, as a joint venture or Wholly Owned Subsidiary.
2.By setting up a Liaison Office/ Representative Office or a Project Office or a Branch Office of the foreign company
Code:
a) Only1
b) Only2
c) 1 and 2
d) Neither 1 nor 2
c) 1 and 2
15. Select the correct one/ones about 'net income' of a corporate body - by using code given below:
1.It is the balance of a company's total income and its total expenditure
2.The profit of a company after paying corporate tax
Code:
a) Only 1
b) Only 2
c) 1 and 2
d) Neither 1 nor 2
a) Only 1
16. Select the incorrect one about 'recession' as it is perceived in India.
a) A period of general economic decline, defined usually as a contraction in the GDP for two consecutive quarters or longer
b) It is marked by high unemployment, stagnant wages, and fall in retail sales, does not last longer than one year
c) Although recessions are considered a normal part of a capitalist economy, there is no unanimity among economists on its causes
d) Recessions are better than stagnation but worse than slowdown and slackness.
d) Recessions are better than stagnation but worse than slowdown and slackness.
17. Which of the following may be considered correct about 'zero-based budgeting'?
a) Fresh evaluation of every item of expenditure from the very beginning of each financial year
b) When total expenditure of the government is kept equal to its total receipts
c) When the government goes for zero level primary and monetized deficits.
d) None of the above
a) Fresh evaluation of every item of expenditure from the very beginning of each financial year
18. Select the correct reason/reasons why the governments impose taxes, using the code given below.
1.To redistribute the income in the economy
2.To subsidize various private goods
Code:
a) Only 1
b) Only 2
c) 1 and 2
d) Neither 1 nor 2
c) 1 and 2
19. Purchase tax was recently in newsselect the correct statements about it, using the code given below:
1.It has been submitted in the newly launched GST
2.It was paid by traders and manufacturers on their purchases
Code:
a) Only 1
b) Only 2
c) 1 and 2
d) Neither 1 nor 2
c) 1 and 2
20. Income tax in India is:
1.Progressive and anti-rich
2.Proportional and pro-poor
3.Regressive and anti-poor Select the answer using the code given below:
a) Only 1
b) Only2
c) 1and 3
d) 1,2 and 3
a) Only 1
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