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Indian Economy Model Test 6 in English

Tnpsctricks TnpsctricksDecember 23, 2019
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Indian Economy Model Test Questions 6 in English

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Question 1
Among the planning bodies India, the Chief Ministers of all the states are members in one of the following
A
Planning commission
B
National Development Council
C
National Planing Council
D
Administrative Reforms committee
Question 2
Among all the Five-year plans in only one of the following Five-year  plans Agriculture was not given priority:
A
IIIrd Five-year plan
B
IVth Five-year plan
C
IInd Five-year plan
D
Vth Five-year plan
Question 3
IDBI is a
A
Bank
B
Board
C
Committee
D
Centre
Question 4
Fiscal policy is connected with
A
public revenue and expenditure
B
population
C
money issue
D
exports and imports
Question 5
The contribution of Agriculture in Indian National Income is nearly
A
50%
B
38%
C
75%
D
25%
Question 5 Explanation: 
Note: 17.1% (2008-09)
Question 6
A personal account cannot be opened in
A
a Co-operative Bank
B
a Scheduled Bank
C
Reserve Bank of India
D
none of these
Question 7
The First Year plan covered the period
A
1947-52
B
1950-55
C
1951-56
D
1952-57
Question 8
Who has the authority to issue one rupee currency note in India?
A
Reserve Bank of India
B
Union Finance Ministry
C
State Bank of India
D
President of India
Question 9
What is a scheduled bank?
A
A bank having a deposit of Rs. 100 crores
B
A bank which has been included in the second schedule of Reserve Bank of India
C
A bank having more than 100 branches
D
A bank for Scheduled Caste
Question 10
Agricultural Income Tax is revied in Tamil Badu by
A
the State Government
B
Municipalities
C
Panchayats
D
none of these
Question 10 Explanation: 
Note: No Agri I.T. in Tamil Nadu
Question 11
Among the various types of income from an industrial activity one of the following is uncertain:
A
Rent
B
Wages
C
Interest
D
Profit
Question 12
The Reserve Bank of India was started in
A
1935
B
1948
C
1956
D
1960
Question 13
The First Five Year plan was launched in
A
1948
B
1951
C
1956
D
1960
Question 14
The Jawahar Rozgar Yojana Scheme is meant for
A
improving village economy
B
training Urban house building
C
promoting small scale industries
D
providing employment to rural youth
Question 15
Decimal coinage was introduced in India in the year
A
1935
B
1947
C
1955
D
1960
Question 16
The period of Ninth-Five year plan is
A
1995-2000
B
1992-1997
C
1997-2002
D
1999-2004
Question 17
Money market is related to
A
short term
B
long term
C
perspective
D
none of these
Question 18
The Export-Import (EXIM) Bank was setup in
A
1980
B
1982
C
1981
D
1989
Question 19
The National Bank for Agriculture and Rural Development (NABARD) was setup in
A
1979
B
1980
C
1981
D
1982
Question 20
Currency notes and coins of one rupee and lower denominations are issued by
A
Reserve Bank of India
B
State Bank of India
C
Ministry of Finance
D
Government of India
Question 21
The primary sector of India’s economy is
A
agriculture
B
Industry
C
foreign trade
D
banking sector
Question 22
“Parallel Economy” means
A
illegal economy
B
near economy
C
equal economy
D
none of these
Question 23
In a planned economy, there will be
A
controls
B
no controls
C
limited controls
D
none of these
Question 24
The Industrial Policy Resolution of which year is called the Economic constitution of India?
A
1948
B
1956
C
1987
D
1991
Question 25
India’s economy is
A
developed
B
un developed
C
under developed
D
none of these
Question 26
Which of the following are the major characteristics of intensive farming?
  1. Low capital
  2. High density of population
  3.  Small size of holding
  4. Emphasis on machinery
Of these:
A
I and II are correct
B
I, II and III are correct
C
III and IV are correct
D
I and IV are correct
Question 27
The purpose of taxation is
A
mobilization of resources
B
increasing the revenue
C
reducing disparities
D
all of these
Question 28
Dr. Raja chelliah Committee is associated with
A
tax reforms
B
land reforms
C
industrial licensing policy
D
agricultural price policy
Question 29
Reserve Bank of India was established in the year
A
1932
B
1933
C
1934
D
1935
Question 30
SFDA stands for
A
Small Farmers Development Agency
B
Sick Farmers Development Agency
C
Scheduled caste farmers Development Agency
D
None of these
Question 31
NREP stands for
A
National Regional Employment Policy
B
National Rural Employment Programme
C
National Rural Employment Policy
D
None of these
Question 32
The Board for Industrial and Financial Reconstruction (BIFR)was established in the year?
A
1984
B
1985
C
1986
D
1987
Question 33
The investment limit for small-scale sector is
A
Rs. 3 crores
B
Rs. 1 crore
C
Rs. 60 lakhs
D
Rs. 25 lakhs
Question 34
The investment limit for tiny units is
A
Rs. 2 lakhs
B
Rs. 5 lakhs
C
Rs. 25 lakhs
D
Rs. 35 lakhs
Question 35
Non-plan expenditure includes
A
economic services
B
social services
C
pension
D
all of these
Question 36
The unit Trust of India was established in
A
1955
B
1964
C
1966
D
1967
Question 37
Statutory meeting is held
A
only once in the lifetime of the company
B
every year
C
at the discretion of the directions
D
once in 5 years
Question 38
The maximum number of partners in a firm carrying on banking business is
A
7
B
10
C
50
D
20
Question 39
The written record of the business done at a meeting is called
A
Agenda
B
Notice
C
Resolution
D
Minutes
Question 40
Which of the following is not a function of an office?
A
purchase of office furniture and machinery
B
keep a check on the quality of goods produced
C
conducting meetings
D
handing communication system
Question 41
Which of the following is called as “Negotiable Instrument”
A
Railway receipt
B
Cheque
C
Lorry receipt
D
None of these
Question 42
Which of the following cities stock change functions?
A
Madurai
B
Trichy
C
Coimbatore
D
Salem
Question 43
The term IBRD denotes
A
Asian Development Bank
B
World Bank
C
State Bank of India
D
International Monetary Fund
Question 44
Which of the following is not an important feature of capitalism?
A
Use of capital goods
B
Centralised planning
C
Private ownership means of production
D
Specialization
Question 45
Consider the following Statements.
  • Assertion(A): Indian  Economy is referred as mixed economy.
  • Reason(R): Indian Government recognizes the relative important to both public as level as private sector in the development.
Of these statements:
A
Both (A) and (R) are true and (R) is the correct explanation of (A)
B
Both (A) and (R) are true but (R) is not the correct explanation of (A)
C
(A) is true but (R) is false
D
(A) is false but (R) is true
Question 46
Consider the following statements:
  • Assertion(A): Disgusted unemployment is generally observed in Indian Agricultural sector
  • Reason(R): More and more people in rural areas are being literates
Of these statements:
A
Both (A) and (R) are true and (R) is the correct explanation of (A)
B
Both (A) and (R) are true but (R) is not the correct explanation of (A)
C
(A) is true but (R) is false
D
(A) is false but (R) is true
Question 47
The First Five Year plan was introduced on
A
26th January, 1950
B
1st April, 1950
C
1st January, 1951
D
1st April, 1951
Question 48
The aim of the Intensive Agricultural Area Programme (IAAP) was
A
to bring about a progressive increase in the production of the main crops in selected ares
B
to identify the methods affecting changes in the farmer’s attitudes
C
to evolve an administrative pattern at the district level
D
to find and show a way of a spectacular increase in the productivity of agricultural land by using modern technology
Question 49
Ceiling on land holding as at present in Tamil Nadu is
A
30 standard acres for a family
B
15 standard acres for a family
C
10 standard acres for a family
D
12 standard acre for a family
Question 50
The short comings of the public sector under takings are
A
political factors
B
excessive bureau cratization and lack of autonomy
C
in efficient management
D
all the above
Question 51
The main constituents of the new economic policy of
A
liberalization accompained by removal, relaxation of controls
B
restoration of compeletion
C
re-orientatin of fiscal policy
D
all the above
Question 52
There was no Five Year plan in India for 3 years during
A
1947-1950
B
1965-1968
C
1950-1953
D
1966-1969
Question 53
The main cause of the rural indebtedness is
A
poverty
B
unemployment
C
strikes
D
population
Question 54
The Community Development was strated on October 2, 1952 with the assistance of
A
USA
B
Japan
C
USSAR
D
France
Question 55
The contribution of agriculture to India’s national income is nearly
A
50 percent
B
38 percent
C
75 percent
D
18 percent
Question 56
Which of the following statements indicate most that Indian economic system is under  developed
A
Government gets more income by indirect taxes
B
un equal distribution of National Income
C
agricultural production is the main source of National Income
D
cottage and Small Scale Industries ar responsible for most of her industrial output
Question 57
Which of the following banks is not providing credit to the agricultural sector?
A
Co-operative banks
B
Commercial banks
C
State Bank of India
D
Each of these provides
Question 58
Which of the following is a non-economic determinant of economic growth?
A
capital formation
B
enterprenurial ability
C
technology advace
D
social institutions
Question 59
The two major industries that were directly hit by partition of the country were
A
Jute and cotton textile
B
Sugar and Rubber
C
Paper and Iron
D
Engineering and Cement
Question 60
In 1994, how many branches had the regional Rural Banks?
A
13,500
B
14,547
C
12,469
D
None of these
Question 61
Which of the following taxes is levid and collected by the state?
A
Customs duties
B
Estate duty
C
Income tax
D
Land revenue
Question 62
Karl Marx wrote
A
Asian Drama
B
Emma
C
Das Kapital
D
Good Earth
Question 63
The Reserve Bank of India was nationalized in the year
A
1935
B
1949
C
1945
D
1969
Question 64
Tex levied and collected by the centrel but assigned to the state is
A
Profit Tax
B
Estabe Duty
C
Tax on Newspaper
D
Sales Tax
Question 65
The level of India’s debt as on March 95 was
A
10,000 million
B
15,500 million
C
93,321 million
D
80,000 million
Question 66
The monopoly inquiry commission appointed in 1964 was chaired by
A
P.C. Mahalanobis
B
K.C. Dasgupta
C
M.C. Shelat
D
R.K. Hazari
Question 67
The largest consumers of coal in India are
A
Railway
B
Power Generation plants
C
Fertilizer plants
D
Steel Plants
Question 68
The most important Small Scale Industry of India is
A
Coir Industry
B
Matchbox Industry
C
Handloom Industry
D
Toy-making Industry
Question 69
The Indian Government is giving import entitlement of
A
Foreign Traders
B
Indian Exporters
C
Indian Bankers
D
Industrialists
Question 70
The important feature of Green Revolution in India has been
A
Using green manure
B
raising more crops
C
high yielding variety programme
D
green crops
Question 71
Direct taxation is a better from of taxation because
A
it fetches more revenue
B
it can be more easily collected
C
it allows the taxation according to means
D
it has greater tax compliance
Question 72
Who among the following initiated the community Development Programme?
A
Balwat Raj Mehta
B
K.M. Munshi
C
Ashok Mehta
D
S.K. Dey
Question 73
Which of the following fetches the maximum foreign exchange for India?
A
Tea
B
Oil
C
Fish
D
Spices
Question 74
Bant rate is a tool of
A
fiscal policy
B
monetary policy
C
deficit financing
D
none of these
Question 75
Which of the following is Agro-based industry?
A
Tractor
B
Car
C
Cotton Textile
D
Cycle
Question 76
Which one of the following is not an act of production?
A
Farming
B
Teaching in a school
C
Government hospital
D
Construction of a house
Question 77
What are the main difficulties in the implementation of Land Reform policy in India?
A
Litigation
B
inefficiency
C
Lack of efficient administration and lack of political will
D
Rich farmers
Question 78
The Biggest public under taking transport in India is
A
Railways
B
Shipping
C
Air transport
D
Canal transport
Question 79
Who wrote the block “An Enquiry into the Nature and causes of wealth of Nations”?
A
J.S. Mill
B
Adam Smith
C
Lionel Ribbins
D
Alfred Marshall
Question 80
Book debt is
A
a current assert
B
a fictitious asset
C
a fixed asset
D
an intangible asset
Question 81
The father of scientific Management of
A
F.W. Taylor
B
Henry Fayol
C
Oliver Shelton
D
Peter F. Drucker
Question 82
The Cooperative Movement made it first appearance in
A
India
B
England
C
Germany
D
Denmark
Question 83
Dunkel proposal is related to
A
fundamental right
B
human right
C
patent right
D
none of these
Question 84
A documentary evidence in support of a transaction in the books of accounts is called
A
memorandum
B
audit note
C
vouchers
D
working paper
Question 85
Integrated Rural Development Programme was started in
A
1972
B
1982
C
1962
D
1980
Question 86
Which organization promotes trade?
A
STC
B
MMTC
C
ECGC
D
All of these
Question 87
The minimum number of members who must be present for transacting the business at a meeting is called
A
proxy
B
motion
C
agenda
D
quorum
Question 88
The Industrial credit and Investment corporation of India was established in the year
A
1953
B
1954
C
1955
D
1958
Question 89
According to Marshall, law of Diminishing Returns is applicable to
A
industry
B
all fields of production
C
agriculture
D
none of these
Question 90
A commodity in order to have value most
A
be scarce
B
possess utility
C
be transferable
D
all these
Question 91
The supply of gods refers to
A
actual production of the goods
B
total existing stock of the goods
C
stock available for sale
D
amount of goods offered for sale at a particular price at a point of time
Question 92
Discount Rate is called
A
Bank Rate
B
Interest Rate
C
Lending Rate
D
None of these
Question 93
Devaluation of currency helps to promote
A
National Income
B
Savings
C
Imports and lower costs
D
Exports
Question 94
Devaluation of currency helps to step by
A
export
B
savings
C
national income
D
economic freedom
Question 95
The prime object of marketing is
A
profit
B
service
C
sales
D
consumer satisfication
Question 96
The expansion of TNPL is
A
Tamil Nadu Paper Mills Ltd.
B
Tamil Nadu Power Supply Corporation Ltd.
C
Tamil Nadu, Newsprint Paper Ltd.
D
None of these
Question 97
A “debenture” is
A
an invoice
B
a debit note
C
an acknowledgement of debt
D
none of these
Question 98
‘One man one vote’ is the basic principle for
A
partnership
B
company
C
co-operative organization
D
public enterprises
Question 99
An audit program is
A
an internal check
B
a detailed plan
C
an internal audit
D
an internal control
Question 100
A
A
B
B
C
C
D
D
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There are 100 questions to complete.
Tnpsctricks TnpsctricksDecember 23, 2019
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