Indian Economy - General Knowledge Questions

1 .
Resurgent India Bonds were issued in US dollar, Pound Sterling and
A)
Japanese Yen
B)
Deutsche Mark
C)
Euro
D)
French Franc

Correct Answer :   Deutsche Mark

2 .
Which of the following is the most appropriate cause of exports surplus?
A)
Country's exports promotion value
B)
Country's stringent import policy
C)
Developments in national and international markets
D)
None of the above

Correct Answer :   Developments in national and international markets

3 .
National expenditure includes
A)
consumption expenditure
B)
investment expenditure
C)
government expenditure
D)
All of the above

Correct Answer :   All of the above

4 .
On July 12, 1982, the ARDC was merged into
A)
RBI
B)
NABARD
C)
EXIM Bank
D)
None of the above

Correct Answer :   NABARD

5 .
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

Correct Answer :  

6 .
Gross domestic capital formation is defined as
A)
flow of expenditure devoted to increased or maintaining of the capital stock
B)
expenditure incurred on physical assets only
C)
production exceeding demand
D)
net addition to stock after depreciation

Correct Answer :   net addition to stock after depreciation

7 .
The budget deficit means
A)
the excess of total expenditure, including loans, net of lending over revenue receipts
B)
difference between revenue receipts and revenue expenditure
C)
difference between all receipts and all the expenditure
D)
fiscal deficit less interest payments

Correct Answer :   difference between all receipts and all the expenditure

8 .
One of the reasons for India's occupational structure remaining more or less the same over the years has been that
A)
investment pattern has been directed towards capital intensive industries
B)
productivity in agriculture has been high enough to induce people to stay with agriculture
C)
ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture
D)
people are largely unaware of the significance of transition from agriculture to industry for economic development

Correct Answer :   investment pattern has been directed towards capital intensive industries

9 .
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

Correct Answer :   Ministry of Finance

10 .
On which one of the followings is the benefits received principle of taxation to achieve optimality bases?
A)
Marginal benefit received
B)
Total benefit received
C)
Average benefit received
D)
Ability to pay for the benefit

Correct Answer :   Ability to pay for the benefit

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