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200 Objective Questions(Economics)|Banking for bank exams

200 Objective Questions(Economics)

1) The rate of growth of per capita income is equal to -
Ans :- Rate of growth of national income minus the rate of growth of population,
2) The Gandhian theory of Trusteeship aims at -

Ans :- purging capitalism of its evils,
3) Who is called the Father of Economics?
Ans :- Adam Smith,
4) Fabian Socialism first emerged in -
Ans :- Great Britain,
5) Under perfect competition -
Ans :- any firm can influence price and supply in the market,
6) Invisible tade is a trade -
Ans :- of the services like the bank, marine companies and shipping companies,
7) The minimum effect of Direct Taxes is on -
Ans :- Income,
8) Companies pay Coporation Tax on their -
Ans :- incomes,
9) The National Bank for Agriculture and Rural Development (NABARD) was set up in -
Ans :- 1982,
10) In India, present trend of rapid urbanisation isdue to -
Ans :- Lack of employment opportunities in rural areas,
11) The Slack Season in the Indian Economy is -
Ans :- Jan - June,
12) Which is the best measure of economic growth of a country?
Ans :- GNP,
13) Fiscal deficit in the Union Budget means -
Ans :- the sum of budgetary deficit and net increase in internal and external borrowings,
15) Temporary tax levied to obtain additional revenue is called -
Ans :- Surcharge,
16) Who is most benefitted from inflation ?
Ans :- Debtors,
17) Fiscal deficit in the Union Budget means -
Ans :- The sum of budgetary deficit and net increase in internal and external borrowings,
18) Companies pay Corporation Tax on their -
Ans :- Income,
19) Which is the least achieved objective of India Five Year Plans?
Ans :- Removal of mass poverty,
20) National incomes is the same as -
Ans :- Net National Product at factor cost,
21) A crossed cheque is one, which can be encashed only -
Ans :- through a bank,
22) The system of Budget was introduced in India during the viceroyalty of -
23) The inflation experienced in the country at present is -
Ans :- unrealistic inflation,
24) The Governments gold auction policy was aimed at -
Ans :- checking of smuggling and reducing the budgetary deficit of Central Government,
25) The growth rate of agriculture production was negative in the -
Ans :- Third Plan,
26) In 1938, the National Planning Committee was set up under the chairmanship of -
Ans :- Jawaharlal Nehru,
27) When was decimal system of currency introduced in India?
Ans :- 1950,
28) The main model that fromed the basis of the strategy of the Second Fove Year Plan was formulated by -
Ans :- P.C. Mahalonobis,
29) Commercial Banking System in India is -
Ans :- Mixed Banking,
30) Legal Tender Money refers to -
Ans :- Currency notes,
31) In which year was the Rolling Plan introduced?
Ans :- 1978 - 79,
32) Who is responsible for the collection and publication of monetary and financial information?
Ans :- Reserve Bank of India,
33) The Gandhian economt was based on the principle of -
Ans :- Trusteeship,
34) Inflation implies -
Ans :- rise in general price index,
35) The All India Khadi and Village Industries Board was set up during -
Ans :- First Five - Year Plan,
36) Economic Planning is a subject -
Ans :- in the Union List,
37) Planning in India as it is at percent can be termed as -
Ans :- Centralised Planning,
38) The Planning Commission is -
Ans :- an Asvisory body,
39) Devaluation of currency helps to promote -
Ans :- exports,
40) A rolling plan is a plan for -
Ans :- on year to year basis,
41) The strategy of Rolling plan was adopted during the Prime Ministership of -
Ans :- Morarji Desai,
42) Keynesian Resolution specially deals with -
Ans :- achievement of full employment,
43) Economic planning is an essential feature of -
Ans :- Socialist economy,
44) South-South dialogue is associated with -
Ans :- Co-operation among developing nations,
45) G-15 is an economic grouping of -
Ans :- Third World Nations,
46) Sarvodaya aimed at -
Ans :- upliftment of all, irrespective of their status,
47) Gross National Product is the money value of -
Ans :- final goods and services product annually in the economy,
48) Which is the correct description of the term tainted shares?
Ans :- The shares which were involved in the case of securities scam,
49) Demand means -
Ans :- willingness and ability of an individual to buy goods and services at a given price and time,
50) Sarkaria Commission had been set up to look into -
Ans :- Centre - State relations,
51) The Family Planning Programme was adopted by the Government of India in -
Ans :- 1952,
52) A Multinational is -
Ans :- a company operating in several countries,
53) A formal evaluation of an individuals or companys credit history and capability of repaying obligations is known as -
Ans :- Credit Rating,
54) Narasimahan report relates to the restructuring of -
Ans :- banks,
55) MODVAT refers to -
Ans :- value added to manufacturing cost,
56) BOP (Balance of Payment) refers to -
Ans :- systematic record of all its economic transaction with the rest of the world,
57) National income of India is compiled by -
Ans :- Central Statistical Organisation,
58) VISWA - a project of rural employment programme was launched for the first time in -
Ans :- West Bengal,
59) Rural Development Programmes are related to -
Ans :- poverty alleviation in states,
60) Fiduciary issue means -
Ans :- An issue of bank notes not backed by gold,
61) The theory that population increses in geometric progression while food production increases in arithmetical progression, is associated with -
Ans :- Malthus,
62) Division of labour is promoted by -
Ans :- Perfect market,
63) Development means economic growth plus -
Ans :- social change,
64) The marginal revenue product schedule is a firms -
Ans :- resources demand schedule,
65) The type of planning experimented between 1978 and 1980 is known as -
Ans :- Rolling Plan,
66) Interest Rate Policy is a component of -
Ans :- Monetary Policy,
67) The Planning Commission of India is -
Ans :- A non - statutory body created by the Centre,
68) Labour welfare does not include -
Ans :- quick promotion in job,
69) The Antyodaya Scheme was first started in -
Ans :- Rajasthan,
70) What is meant by Capital Gain?
Ans :- Appreciation in the money value of assets,
71) Sellers market denotes a situation where -
Ans :- demand exceeds supply,
72)Which represents the name of one of the programmes launched by the Union Government solely for the benefit of children?
Ans :- ICDS,
73) Dear Money means -
Ans :- High rate of interest,
74) Mixed Economy means -
Ans :- co - existence of private and public sector,
75) Prime Minister Rozgar Yojana (PMRY) was launched in 1993 on -
Ans :- October 2,
76) The concept of mixed economy in planning was introduced in -
Ans :- Second Five - Year Plan,
77) Closed economy means an economy having -
Ans :- no exports or import,
78) Who was the first Deputy Chairman of Planning Commission of India?
Ans :- Shri V.T. Krishnamachari,
79) White goods are -
Ans :- durable consumption goods,
80) Seasonal unemployment refers to -
Ans :- Agriculture,
81) Nurkses Theory of Vicious Circle is related to -
Ans :- poverty,
82) Fiscal Policy means the -
Ans :- policy of expenditure and public debt policy,
83) Who is called the Father of Economics?
Ans :- Adam Smith,
84) What is Recession?
Ans :- Increase in money supply and employment for want of sufficient demand for goods,
85) Elasticity of demand explains the relationship between -
Ans :- price of a commodity and quantity demanded,
86) The term Utility means -
Ans :- The satisfaction which a commodity yields,
87) The basic characteristic of oligopoly is -
Ans :- a few sellers, many buyers,
88) Black money is -
Ans :- income on which payment of tax is usually evaded
89) The Indian Wage Policy is most nearly described as being based on -
Ans :- Minimum needs,
90) What is Laissez-faire?
Ans :- Non - interference of Government in economic affairs,
91) The term Dumping refers to -
Ans :- sale in a foreign market of a commodity at a price below marginal cost,
92) Capital goods refer to goods which -
Ans :- help in the further production of goods,
93) Temporary tax levied to obtain additional revenue is called -
Ans :- Surcharge,
94) Equilibrium price is that price which -
Ans :- equates supply and demand,
95) Who advocated the Monistic theory of sovereignty?
Ans :- Austin,
96) Credit Creation increases -
Ans :- supply of money,
97) Evils of capitalism may be minimised by adopting the principle of -
Ans :- economic control,
98) Gandhian economics is based on -
Ans :- ethical foundations,
99) Which year is known as Year of the Great Divide with regard to population growth in India?
Ans :- 1951,
100) The consumers surplus can be defined as -
Ans :- difference between actual price and the potential price,
101) The National Rural Employment Programme (NREP) is dependent on -
Ans :- wage employment,
102) Bank rate policy is a component of -
Ans :- Fiscal Policy,
103) Economic Planning refers to -
Ans :- The allocation of resources,
104) Liberal theory of a state says that State is -
Ans :- Laissez faire region,
105) The major aim of devaluation is to -
Ans :- encourage exports,
106) Ceteris paribus means -
Ans :- other things being equal,
107) Dunkel Draft relates to -
Ans :- international trade,
108) A joint stock company is managed by its -
Ans :- Board of Directors,
109) Golden Hand Shake Scheme refers to -
Ans :- Exit Policy,
110) Indias oldest iron and steel industry is -
Ans :- TISCO at Jamsshdpur,
111) GATT is an international organisation helping in -
Ans :- Trading between developing countries,
112) Real owners of a company are -
Ans :- Equity share holder,
113) Which industries was started first in India?
Ans :- Tea,
114) The concept of disguised unemployment has been explained by -
Ans :- J.N. Bhagwati and Padam,
115) Which increases continuously with the increase in production of an industrial concern?
Ans :- Variable cost,
116) The first district in India to have telephone in all its villages is -
Ans :- Dakshin Kannada,
117) Which industry in India was worst affected be cause of the partion?
Ans :- Jute and Cotton,
118) The basic aim of SFDA is -
Ans :- to redeem the debts of marginal farmers,
119) A Common currency for the members of the Common Market in Europe is known as -
Ans :- Eurodollar,
120) Credit is a -
Ans :- A stock - flow concept,
121) In which year was the new currency Euro introduced?
Ans :- 1999,
122) Devaluation means -
Ans :- lowering of the value of one currency in comparison of some foreign currency,
123) What is the Procurement Price for an agricultural commodity?
Ans :- The minimum price at which Govt. is ready to buy,
124) The headquarters of World Bank are in -
Ans :- Washington, D.C,
125) Which deals with economic offences?
Ans :- COFEPOSA,
126) Stagflation implies a case of -
Ans :- recession pous inflation,
127) The contribution of agriculture to Indias economy is -
Ans :- decreasing,
128) GATT headquarters is located at -
Ans :- Geneva,
129) The main watch dog of internatinal trade is -
Ans :- WTO,
130) The Asian Development Bank has its headquarters in -
Ans :- Manila,
131) The concept of Five Year Plans in India was introduced by -
Ans :- Jawaharlal Nehru,
132) The sale proceeds of Government boands come under the budget head of -
Ans :- Current expenditure,
133) The type of unemployment mostly found in India can be characterised as -
Ans :- Disguised,
134) Who is the Chairman of the Planning Commission?
Ans :- Prime Minister,
135) The Marrakesh Declaration adopted at the meeting of GATT was a result of -
Ans :- Uruguay Round,
136) World Tade Organisation is the new name of -
Ans :- GATT,
137) Who is associated with the theory of Laissez Faire?
Ans :- Adam Smith,
138) Who said, Where wealth accumulates, men decay?
Ans :- Goldsmith,
139) Food for work programme was linked to NREP under which Five Year Plan?
Ans :- Sixth,
140) Utility in economics means the capacity to -
Ans :- satisfy human wants,
141) Structural unemployment arises due to -
Ans :- inadequate productive capacity,
142) The term Paper Gold is associated with -
Ans :- Special drawing rights of the IMF,
143) With what aspect of commerce are Bull and Bear associated?
Ans :- Stock market,
144) The Employment Guarantee Scheme, a rural work programme, was first started in -
Ans :- Maharashtra,
145) Saving is a function of -
Ans :- income,
146) Greshams law in economics relates to -
Ans :- circulation of currency,
147) Who was the first administrator statesman to attempt planning as a means for economic development?
Ans :- M Viswesvarayya,
148) Which Indian state has the largest number of cotton textile mills?
Ans :- Maharashtra,
149) Census in India is being held regularly after every -
Ans :- 10 years,
150) People belonging to what age group are eligible for training under TRYSEM scheme?
Ans :- 18-35,
151) Who is known as the Father of White Revolution?
Ans :- V Kurien,
152) The Mumbai Stock Exchange was set up in -
Ans :- 1875,
153) What does the term NSDL stands for?
Ans :- National Securities Depository Limited,
154) Which industry employs the largest number of women in India?
Ans :- tea,
155) The terms TRIPS and TRIMS are related to -
Ans :- GATT,
156) National income is the -
Ans :- net domestic product at market price,
157) Development means economic growth with -
Ans :- social change,
158) The law of demand states that -
Ans :- when price falls, demand increases,
159) What is Net National Product?
Ans :- The money value of final goods and services produced annually in the economy,
160) Deflation is -
Ans :- contraction in volume of money or credit that results in a decline of price level,
161) What is Gross National Product?
Ans :- the total domestic and foreign output claimed by residents of the country,
162) What is the main purpose of currency?
Ans :- medium of exchange,
163) What does devaluation of a currency mean?
Ans :- decrease in the external value of money,
164) The launching of five year plans in India saw the introduction of -
Ans :- mixed economy,
165) Land development banks in India are owned by the -
Ans :- Cooperative societies,
166) When was the International Monetary Fund established?
Ans :- 1944,
167) The International Bank for Reconstruction and Development is better known as -
Ans :- World Bank,
168) The International Finance Corporation was established in?
Ans :- 1956,
169) Where is the headquarters of Asian Development Bank situated?
Ans :- Manila,
170) When did India become a member of the IMF?
Ans :- 1947,
171) When did the Foreign Exchange Regulation Act come into being?
Ans :- 1973,
172) The Securities and Exchange Board of India was established in -
Ans :- 1992,
173) When was the General Insurance Corporation of India formed?
Ans :- 1972,
174) The economic liberalization was introduced in -
Ans :- 1991,
175) The National Stock Exchange is located at -
Ans :- Mumbai,
176) Who was the Prime Minister of India when nationalization of banks took place in 1969?
Ans :- Indira Gandhi,
177) Ant Financial is an affiliate of -
Ans :- Alibaba,
178) The Patterson Cycle pertains to -
Ans :- Technology Sector,
179) Which goods are termed as Veblin Goods?
Ans :- Luxury Goods,
180) The Baltic Dry Index is associated with -
Ans :- Dry bulk shipping freight,
181) In the long run the fixed costs become -
Ans :- Variable costs,
182) The Corporate Head Quarters of Tata Group is -
Ans :- Bombay House,
183) An Equity Share is also commonly referred to as -
Ans :- Ordinary Share,
184) The base year for estimation of GDP in India is -
Ans :- 2004-2005,
185) The sign of country's growth is -
Ans :- Higher per capita income,
186) Borrowings from foreigners are known as -
Ans :- Capital receipts,
187) The finance commission in India is -
Ans :- A constitutional body,
188) Equilibrium of the monopolistic firm -
Ans :- occurs where MR = MC,
189) A letter of credit is produced by -
Ans :- an importer,
190) When the total product remains constant, the marginal product will be -
Ans :- Zero,
191) AGMARK is related with -
Ans :- Quality,
192) NABARD was established on the recommendations of -
Ans :- Narsimham Committee,
193) Corporate Tax is imposed by -
Ans :- Central Government,
194) A balanced economic growth means -
Ans :- Different parts of the economy grow in harmonious manner,
195) GNP is equal to -
Ans :- Total output minus intermediate consumption,
196) CPI and WPI as acronyms, refer to -
Ans :- Price indices,
197) When prices of goods increase, purchasing power of money -
Ans :- Decreases,
198) Diamonds are priced higher than water because -
Ans :- Their marginal utility to buyers is higher than that of water,
199) A non-performing asset is -
Ans :- An asset that ceases to generate income,
200) Rate of interest is determined by -
Ans :- Liquidity preference.

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