GKGK ECONOMICS

Some Selected Questions on Economy

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Some Selected Questions on Economy

1. National Sample Survey Organisation (NSSO) was established in?
(A) 1950
(B) 1951
(C) 1952
(D) 1947
Ans : (A)

2. Which state stands first in the length of roads in the country?
(A) U. P.
(B) M. P.
(C) Maharashtra
(D) Rajasthan
Ans : (C)

3. When was Focus Market Scheme introduced?
(A) 2003-04
(B) 2004-05
(C) 2005-06
(D) 2006-07
Ans : (D)

4. The central banking functions in India are performed by the?
I. Central Bank of India
II. Reserve Bank of India
III. State Bank of India
IV. Punjab National Bank
A. I, II
B. II
C. I
D. II, III
Ans. B

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

6. 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
Ans. D

7. 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
Ans. A

8. The chairman of the 13th Finance Commission is
A. Vijay L.Kelkar
B. Millen Kuamr Banerjee
C. C.Rangarajan
D. C.K.Jaffer Sheriff
Ans. A

9. Decimal coinage was introduced in India in the year
A. 1850
B. 1957
C. 1955
D. 1960
Ans. B

10. The Tenth Plan period was from
A. 1900–1995
B. 1992–1997
C. 2002–2007
D. 2007–2012
Ans. C

11. National Rural Development Institute is situated at
A. Patna
B. Shimla
C. Hyderabad
D. New Delhi
Ans. C

12. Who introduced cooperative society in India?
A. Lord Curzon
B. Lord Wavell
C. Lord Rippon
D. Lord Cornwallis
Ans. A

13. Which Indian got Nobel Prize for Economics?
A. Khorana
B. C.V.Raman
C. Teressa
D. Amarthiya Sen
Ans. D

14. The Headquarter of RBI is in
A. Delhi
B. Nasik
C. Mumbai
D. Kanpur
Ans. C

15. National Income estimates in India is prepared by
A. RBI
B. C.S.O.
C. Finance Ministry
D. Planning Commission
Ans. B

16. Dalal street is situated at
A. Paris
B. Mumbai
C. London
D. New Delhi
Ans. B

17. On July 12, 1982, the ARDC was merged into
A. RBI
B. NABARD
C. EXIM Bank
D. None of the above
Ans. B

18. The first wholly Indian Bank was set up in
A. 1794 B. 1894
C. 1896 D. 1902
Ans. B

19. Which of the following is the first Indian private company to sign an accord with Government of Myanmar for oil exploration in two offshore blocks in that country?
A. Reliance Energy
B. Essar Oil
C. GAIL
D. ONGC
Ans. B

20. The former name of State Bank of India was
A. Central Bank of India
B. United Bank of India
C. Imperial Bank of India
D. People’s Bank of India
Ans. C

21. The value of Gold is determined in
A. London
B. Rome
C. Washington
D. Teheran
Ans. A

22. Deficit financing means that the government borrows money from the
A. RBI
B. local bodies
C. big businessmen
D. IMF
Ans. A

23. The Board of Industrial and Financial Reconstruction (BIFR) came into existence in
A. 1984
B. 1986
C. 1987
D. 1989
Ans. C

24. The currency notes are printed in
A. Bombay
B. Nasik
C. New Delhi
D. Nagpur
Ans. B

25. Notes on which denomination has the portrait of Mahatma Gandhi printed on them?
A. 1000 rupee
B. 500 rupee
C. 100 rupee
D. All of the above
Ans. D

26. The banks are required to maintain a certain ratio between their cash in the hand and totals assets. This is called
A. Statutory Bank Ratio (SBR)
B. Statutory Liquid Ratio (SLR)
C. Central Bank Reserve (CBR)
D. Central Liquid Reserve (CLR)
Ans. B

27. Reserve Bank of India was nationalized in the year
A. 1935
B. 1945
C. 1949
D. 1969
Ans. C

28. How many banks were nationalized in 1969?
A. 16
B. 14
C. 15
D. 20
Ans. B

29. In India, the first bank of limited liability manages by Indians and founded in 1881 was
A. Hindustan Commercial Bank
B. Oudh Commercial Bank
C. Punjab National Bank
D. Punjab and Sind Bank
Ans. B

30. Subsidies mean
A. payment by government for purchase of goods and services
B. payment made by business enterprises to factors of production
C. payment made by companies to shareholders
D. payment made by the government to business enterprises, without buying any goods and services
Ans. D

31. In India, which one among the following formulates the fiscal policy?
A. Planning Commission
B. Ministry of Finance
C. Finance Commission
D. The Reserve Bank of India
Ans. B

32. Paper currency first started in India in
A. 1862
B. 1542
C. 1601
D. 1880
Ans. B

33. The ARDC is now a branch of the
A. RBI
B. NABARD
C. IDBI
D. SDBI
Ans. B

34. Since 1983, the RBI’s responsibility with respect to regional rural banks was transferred to
A. ARDC
B. SBI
C. NABARD
D. PACs
Ans. C

35. MRTP Act was implemented in
A. 1967
B. 1968
C. 1969
D. 1970
Ans. D

36. Regional Rural Banks were established in
A. 1897
B. 1975
C. 1965
D. 1975
Ans. D

37. Consumer Protection Act (CORPA) was implemented in
A. 1985
B. 1986
C. 1987
D. 1988
Ans. C

38. Foreign currency which has a tendency of quick migration is called
A. Hot currency
B. Soft currency
C. Gold currency
D. Scarce currency
Ans. A

39. Which institution is known as Soft loan window of World Bank?
A. IFC
B. IMF
C. Indian Development Forum
D. IDA
Ans. A

40. The New Symbol of Indian Rupee is a blend of
A. Devanagiri Ra
B. Roman R
C. Devanagiri Ra and Roman
D. None of these
Ans. C

41. Which is the most important source of income for Government of India?
A. Interest
B. Licence fee
C. Income tax
D. Excise duty
Ans. D

42. In India, barter exchange is still in practice in
A. Calcutta
B. Lucknow
C. Ahmedbad
D. Jabalpur
Ans. A

43. The planning Commission was reconstituted in
A. October 1951
B. January 1948
C. March 1950
D. August 1949
Ans. C

44. The state which has the highest sugarcane production in India is
A. Bihar
B. Uttar Pradesh
C. Maharashtra
D. Madhya Pradesh
Ans. B

45. The currency Deutsche Mark belongs to
A. Italy
B. Russia
C. Germany
D. Polland
Ans. C

COURTESY Mr SHIV KISHOR

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