Indian Economy Model Test 2 in English

The basic characteristics of an underdeveloped economy is

Uncertain income in any enterprise is

The volume of Savings in a country depends upon the level of

The per capita income is

The second nationalization of banks took place in India in the year

Consider the following statements:

• Assertion(A): India is one of the leading Industrial countries the developing countries.
• Reason(R): Government of India has neglected altogether the traditional craft Industries.

Now select your answer using the codes scheme given below:

“FERA” stands for

“Economic Planning” refers to

The total number of nationalized banks in India is

Octrol refers to

The committee on the Financial System to trace the ills of public sector banks was headed by

The main and final aim of Land Reform is

What is the target growth rate as envisaged in the Ninth Five Year Plan?

Ninth Five Year Plan period is between

Human Resource Development was recognized as the core of all developmental efforts in

Which is not related to Industries?

Which is not a fibre material?

In India, Policy of Population Control was introduced in

National Income is

A serious effort to tackle the problem of poverty began with

In which plan was the growth rate target exceeded?

Consider the following statements:

• Assertion(A): Indian Economy is a developing economy
• Reason(R): India has disguised unemployment

Reserve Bank of India issues all currency notes except

The Central Bank of our country is the

Consignment account is the nature of

“Grapevine” is a term used in relation to

“Horlicks” is a __________ name.

Advertising creates a

Match List  I with List II correctly and select your answer using the codes given below: List I                     List II

1. Inflation 1. Controlled inflation
2. Deflation 2. Money supply increases
3. Stag flation 3. Money supply decreases
4. Reflation 4. Rise in price without growth

Consider the following statements:

1. means Voluntary Disclosure of Income Scheme
2. was introduced in 1997
3. helped the tax evaders to declare undisclosed income of over Rs.33,000 crores.
4. helped the Government to get a tax of more than Rs. 10,050 crores

All losses and expenses are

The basic function of an economy is

Consider the following statements:

• Assertion(A): Demand curve normally slopes down wards.
• Reason(R): Demand for goods increases when price increases.

Black money refers to

Recent Tax reforms in India are based on the

Dunkel proposal is related to

The programme IRDP is connected with

The period of Ninth Five Year Plan is

Expenditure on defence is an item of

When did RBI become a state owned institution?

Consumers surplus is

Free trade zone is

National Renewel Fund was constituted in

The item that earns the maximum foreign exchange for India is

SIDCO was established in

Fourth Five Year Plan period was

Consider the following statements:

1. India is a developing economy
2. India is the second stage of demography
3. India ranks second among the highly populated countries
4. India stands first in Industrial production.

Match List I with List II correctly and select your answer using the codes given below: List I                                 List II

1. Adam Smith 1. Rent
2. Marshall 2. Employment
3. Ricardo 3. Wealth
4. Keynes 4. Equilibrium

Some portion of the capital which can be called up only on the winding up of accompany is called

The minimum number of members who must be present  for transacting the business at a meeting is called

Consolidation of two or more existing companies into one is known as

Tax clearance certificate is required for

Bank Reconcilation Statement is

Net working capital is represented by

Double entry system of book keeping means

Rs. 500/- paid as wages for erecting a machine should be debited to

Registration is compulsory in the case of

On receipt of which certificate, a private limited company can come into existence?

Consider the following statements

• Assertion(A): Government Companies are preparing Balance Sheet every year perfectly.
• Reason(R): Double entry system are adopted

Which of the following is correctly matched?

Match List I with List II correctly and select your answer using the codes given below: List I                                 List II

1. Goodwill 1. Trading account
2. Purchaser 2. Balance sheet
3. Real account 3. Profit and loss account
4. Rent paid 4. Relating to properties and assets of a concern

The first annual general body meeting of a company must be held within

The written record of the business done at a meeting is called

The liability of a partner in a partnership firm is

Goodwill, Patent, Copyright, Trade Mark are

Debenture holders are the company’s

Industrial Finance Corporation of India was setup in the year

The present minimum investment limit for small scale industries is

FERA is now changed to FEMA, it is

Which of the following is not a direct tax?

Stock in trade is a

An auditor is like a

Companies Act was passed in the year

Management is

India earns maximum foreign exchange from

Custodian of foreign exchange is

The main object of packaging is

Which of the following is correctly matched?

Match List I with List II correctly and select your answer the codes given below List I                                             List II

1. Cash book 1. Cheque
2. Endorsement 2. Subsidiary book
3. Noting charges 3. Reserve Bank of India
4. Lender of last resort 4. Dishonor of bills of exchange

The on going Five Year Plan is

Consolidation is the means to check

Which one of the following is correctly matched?

Long-term lending market is called

Dumping is a form of

The Liquidity preference Theory is introduced by

In the case of inferior good

Inspite of the three fold increase in food production, self sufficiency and freedom from hunger has not been achieved in India. Which of the following reasons are for it?

1. Green Revolution has been restricted to small pockets
2. The cost of food is very high compared to the earnings of the poor
3. Too much emphasis is laid on the  wheat and paddy production.
4. The gains of Green Revolution have largely accured to the cash crop rather than food crops.

Of these

Draft Five Year Plans are finally approved by

Find the odd one out

Which technique of production is preferable to India?

The non-tax revenues accrue from

The biggest public sector undertaking in India is

Consider the following statements:

1. India has an unfavourable balance of trade
2. Indian exports are increasing
3. Indian imports exceed its exports
4. India ranks first among the industrialized countries.

Of the statements:

Consider the following statements:

• Assertion(A): There is a huge gap between the haves and the have-nots in India.
• Reason(R): This is mainly due to the law of inheritance which permits the property of the parents to be inherited by their children.

Of the statements

Match List I with List II correctly and select your answer using given below: List I                                                         List II

1. Exim Bank 1. 1970
2. Industrial Policy 2. Export and Import Bank
3. Population Policy 3. 1956
4. Industrial Licensing Policy 4. 1976

Consider the following statements:

1. Population growth increases per capita income
2. Population growth results in mass unemployment
3. Population growth would be an obstacle to economic development
4. Population growth increases the standard of living

Of the statements:

Indian economy is

Match List I with List II correctly and select your answer using the codes given below: List I                                             List II

1. IRDP 1. Population control
2. Family welfare measures 2. Trade union
3. Demand for wages 3. Under development
4. Low per capita income 4. Rural development

Which of the following is the name of an economist?

Bhagawati committee on unemployment was set up in?