Latest Indian Economy General Knowledge(GK) Questions and answers

1 .

Deficit financing leads to inflation in general, but it can be checked if

A)

government expenditure leads to increase in the aggregate supply in ratio of aggregate demand

B)

only aggregate demand is increased

C)

all the expenditure is denoted national debt payment only

D)

All of the above

Correct Answer : All of the above

2 .

Devaluation of currency leads to

A)

fall in domestic prices

B)

increase in domestic prices

C)

no impact on domestic prices

D)

erratic fluctuations in domestic prices

Correct Answer : increase in domestic prices

3 .

Depreciation means

A)

closure of a plant due to lock out

B)

closure of a plant due to labour trouble

C)

loss of equipment over time due to wear and tear

D)

destruction of a plant in a fire accident

Correct Answer : loss of equipment over time due to wear and tear

4 .

The ARDC is now a branch of the

A)

RBI

B)

NABARD

C)

IDBI

D)

SDBI

Correct Answer : NABARD

5 .

In the second nationalization of commercial banks, ___ banks were nationalized.

A)

4

B)

5

C)

6

D)

7

Correct Answer : 6

6 .

Paper currency first started in India in

A)

1861

B)

1542

C)

1601

D)

1880

Correct Answer : 1861

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

Correct Answer : reduction in the value of a currency vis-a-vis major internationally traded currencies

8 .

In utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?

A)

Rs 1000

B)

Rs 500

C)

Rs 300

D)

Rs 400

Correct Answer : Rs 300

9 .

Which of the following is not a part of machinery that settles industrial disputes?

A)

Wage Court

B)

Works Committee

C)

Conciliation officers

D)

Board of Conciliation

Correct Answer : Wage Court

10 .

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)

Telecommunication

D)

Food processing

Correct Answer : Telecommunication