Business and Economics - General Knowledge Questions

1 .
The lowering of Bank Rate by the Reserve Bank of India leads to (2011)
A)
More liquidity in the market
B)
Less liquidity in the market
C)
No change in the liquidity in the market
D)
Mobilization of more deposits by commercial banks

Correct Answer :   More liquidity in the market

2 .
Why are the indirect taxes termed regressive taxing mechanism?
A)
They are charged at higher rate than direct taxes
B)
They are charged the same rates for all income groups
C)
They are not charged the same for all income groups
D)
None of the above

Correct Answer :   They are charged the same rates for all income groups

3 .
As on October 16, 2020 total membership of International Monetary Fund is
A)
189 countries
B)
190 countries
C)
191 countries
D)
192 countries

Correct Answer :   190 countries

A small European nation Androrra became 190 the member of International Monetary Fund on October 16, 2020.

4 .
The Travel and Tourism Competitive Index (TTCI) is released by
A)
World Bank
B)
International Monetary Fund
C)
World Economic Forum
D)
United Nations Development Programme

Correct Answer :   World Economic Forum

5 .
A country is said to be in a debt trap if
A)
The World Bank charges a very high rate of interest on outstanding & new loans
B)
It has to borrow to make interest payments on outstanding loans
C)
It has to abide by the conditionalities imposed by the International Monetary Fund
D)
It has been refused loans or aid by creditors abroad

Correct Answer :   It has to borrow to make interest payments on outstanding loans

6 .
Which economist developed international trade theory in 1817 based on comparative advantage and specialization ?
A)
Paul Krugman
B)
Milton Friedman
C)
Gary Becker
D)
David Picardo

Correct Answer :   David Picardo

7 .
The term 'mixed economy' denoted
A)
existence of both private and public sectors
B)
existence of both rural and urban sectors
C)
existence of both heavy and small industries
D)
existence of both developed and underdeveloped sectors

Correct Answer :   existence of both private and public sectors

8 .
Who wrote a book describing the theory of economic drain of India during British rule
A)
Lajpat rai
B)
Mahatma Gandhi
C)
Jawaharlal nehru
D)
Dadabhai naoroji

Correct Answer :   Dadabhai naoroji

9 .
The prices at which the government purchases food grains for maintaining the Public Distribution system (PDS) and for building up buffer - stock is known as
A)
minimum support prices
B)
procurement prices
C)
issue prices
D)
ceiling prices

Correct Answer :   procurement prices

10 .
When did India's population touch 100 crore mark
A)
May, 2003
B)
May, 2002
C)
May, 2000
D)
May, 1998

Correct Answer :   May, 2000

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