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Indian Economy Model Test 8 in English

Indian Economy Model Test Questions 8 in English

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Question 1
What is the necessity of monetary policy being exercised by RBI from time to  time in India?
A
Reduce deficit
B
Encourage exports and maintain bops
C
Price stability
D
All of these
Question 2
The Environmental Protection Act was legislated in
A
1980
B
1984
C
1986
D
1990
Question 3
Which one of the following methods is not used to collect primary data?
A
Personal contact
B
Postal enquiry
C
Through newspapers
D
Questionnaire method
Question 4
Which one of the following methods is often used to select a representative sample from a homogeneous population?
A
Random sampling
B
Stratified sampling
C
Purposive sampling
D
Systematic sampling
Question 5
What is the present rate of interest on CRR given by RBI?
A
6%
B
8%
C
9%
D
none of these
Question 6
What is the minimum and maximum Cash Reserve Ratio to be maintained by a Commercial Bank?
A
Minimum 3%, Maximum 15%
B
Minimum 4%, Maximum 16%
C
Minimum 2%, Maximum 4%
D
None of these
Question 7
One rupee currency note is printed and issued by
A
State Government
B
State Bank of India
C
Reserve Bank of India
D
Govt. of India, Ministry of Finance
Question 8
Which is the lead bank for salem district?
A
Indian Bank
B
Indian Overseas Bank
C
Salem District Co-Operative Central Bank
D
None of these
Question 9
The controller of Insurance is at present
A
Finance secretary
B
Deputy Governor, RBI
C
Chairman , GIC
D
Chairman, IRDA
Question 10
At present the expenditure on Government (both central and state) as a percentage of GDP is
A
5%
B
17%
C
24%
D
30%
Question 11
The Green Revolution came on the scene around
A
mid 1960
B
mid 1950
C
mid 1970
D
mid 1980
Question 12
Demographic pressure acts as a push factor in
A
migration
B
financial assistance
C
economic growth
D
none of these
Question 13
Dr. Raja J. Chelliah Tax Reforms ommittee was set up in
A
August, 1990
B
September, 1992
C
August, 1991
D
June, 1993
Question 14
When was the New Industrial Policy announced?
A
July, 1991
B
June, 1992
C
October, 1996
D
January, 1994
Question 15
The incidence of poverty can be computed from
A
NAS data on national accounts
B
NSS data on consumption of expenditure
C
Both (A) and (B)
D
None of these
Question 16
What is the correct expansion of the abbreviation of WTO?
A
World Textile Organisation
B
World Trade Organisation
C
World Trusteeship Orgaisation
D
World Transport Organisation
Question 17
Match List I with List II correctly and select your answer using the codes given below: List I                       List II
  1. Respondents 1. Person collecting Information
  2. Primary data 2. Person giving information
  3. Enumerator 3. Collection of data
d Census                 4. First hand information
A
1 2 3 4
B
2 3 4 1
C
1 3 2 4
D
2 4 1 3
Question 18
Which committee has recommended the establishment of National co-operative Bank of India?
A
Narasimhan Committee
B
A.M. Khusro Committee
C
Indian Co-Operative Committee
D
Ragarajan Committee
Question 19
The RBI was inaugurated in April  1935 with a share capital of
A
15 crores
B
5 crores
C
10crores
D
7 crores
Question 20
The UTI was formally established in
A
February, 1974
B
February, 1964
C
March, 1970
D
December , 1950
Question 21
The Million Wells Scheme was launched as a sub-scheme for
A
Jawahar Gram Samriddhi Yojana
B
Swarna Jayanti Gram Swarojgar Yojana
C
National Rural Employment Programme
D
Employment Guarantee Scheme
Question 22
Dr. L.C. Gupta Committee was appointed to look into the working of
A
Stock exchange
B
Insurance companies
C
Commercial banks
D
Development finance institution
Question 23
What is the old name of the State Bank of India?
A
India Bank
B
British Bank
C
Imperial Bank of India
D
None of these
Question 24
How many banks were nationalized in July 1969?
A
15
B
13
C
11
D
14
Question 25
The economist who warned against population explosion is
A
Alfred Marshall
B
Karl Marx
C
Malthus
D
Rostow
Question 26
When was the GATT started?
A
1947
B
1948
C
1950
D
1956
Question 27
The Reserve Bank of India Bulletin is published in every
A
fortnight
B
month
C
six months
D
year
Question 28
Which of the following is/are not matched correctly?
  1. First Plan - 1950-55
  2. Third Plan - 1961-66
  3. III. Fourth Plan      -  1966-77
  4. Seventh Plan - 1985-90
A
I and II
B
III only
C
III only
D
I and III
Question 29
Which of the following is not an objective of India’s Economic Planning?
A
Self-Reliance
B
Industrial growth
C
Employment generation
D
Population growth
Question 30
Human Development Index was formulated by United Nations in
A
1990
B
1991
C
1996
D
1994
Question 31
Which one of the following is a primary group?
A
Family
B
Community
C
Caste
D
Society
Question 32
Commercial banks finance rural credit directly and through
A
NABARD
B
Rural banks
C
Cooperative Societies
D
State Government
Question 33
Which is the cheapest and safest method of sending money from one place to another place?
A
Money order
B
Mail Transfer/ Telegraphic Transfer
C
Cheque System
D
None of these
Question 34
What do you mean by Non-Performing asset?
A
Assets acquired through the court of law
B
Idle asset
C
Unprofitable asset
D
None of these
Question 35
The structure of family in rural India is
A
Nuclear family
B
Extended family
C
Joint family
D
Consanguineous family
Question 36
Consider the following statements:
  • Assertion(A):  The removal  of poverty remains a central problem of planning in India.
  • Reason(R): Development is not just about factories, dams and road, it is basically about people.
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 37
In which sector was the ‘Rolling Plan’ first introduced in India?
A
Agricultural sector
B
Industrial sector
C
Trade sector
D
Defence sector
Question 38
Human Development Index (HDI) was formulated by the
A
1990
B
1991
C
1996
D
1994
Question 39
Which one of the following methods is to reduce income inequalities in India?
A
Estate duty
B
Wealth tax
C
Capital gains tax
D
Ceiling on holdings
Question 40
Who finally approves the five-year plan?
A
Parliament and state legislatures
B
National Development Council
C
Planning Commission
D
The President
Question 41
Villages in India are the backbone of our
A
economy
B
culture
C
food
D
dance
Question 42
The Reserve Bank of India was nationalized in
A
1927
B
1947
C
1949
D
1962
Question 43
The main obstacle to the economic development of India is
A
population
B
unemployment
C
low production
D
all of these
Question 44
Green revolution was introduced in the year
A
1957
B
1962
C
1965
D
1966
Question 45
The first Bank established in India was
A
Punjab National Bank
B
Traders Bank
C
State Bank of India
D
Bank of Hindustan
Question 46
In which year was cycle rickshaw introduced in the world?
A
1850
B
1847
C
1972
D
1867
Question 47
Most of India’s exports are
A
food products
B
fabrics
C
industrial
D
beverages
Question 48
The second nationalization of six banks took place on
A
April 1, 1974
B
April 15, 1980
C
March 31, 1985
D
September 30, 1989
Question 49
Consumer day is celebrated on
A
March 5
B
March 10
C
March 15
D
March 20
Question 50
The Vyas Committee which has submitted its report recently, is related with
A
Mutual fund
B
Co-operative Sector
C
Price Control
D
Agricultural Credit
Question 51
The Omkar Goswami Committee was setup to study
A
Industrial location
B
Industrial pollution
C
Industrial infrastructure
D
Industrial sickness
Question 52
What is the percentage of the accumulated loss at the end of any financial year to its net worth for a company to be ‘sick’?
A
100%
B
75%
C
50%
D
20%
Question 53
Name the first bank established in India
A
Bank of India
B
State Bank of India
C
Bank of Hindustan
D
Canara Bank
Question 54
Which sector contributes more to Nest state domestic product in Tamil Nadu?
A
Primary sector
B
Secondary sector
C
Tertiary sector
D
Other sectors
Question 55
When was Central Social Welfare Board Organised?
A
1950
B
1951
C
1952
D
1953
Question 56
In which year was the Imperial Bank of India started?
A
1914
B
1919
C
1921
D
1942
Question 57
What is the maximum capital and reserve required for starting a Scheduled  Commercial Bank in India?
A
Rs. 5 lakhs
B
Rs. 10 lakhs
C
Rs. 7.5 lakhs
D
none of these
Question 58
The minimum capital required for starting Regional Rural Bank in India is
A
Rs. 25 lakhs
B
Rs. 30lakhs
C
Rs. 22 lakhs
D
Rs. 40 lakhs
Question 59
Where is the Headquarters of Asian Development Bank Situated?
A
Washington
B
Paris
C
Manila
D
Canberra
Question 60
The largest public sector bank in India is
A
Union Bank of India
B
Central Bank of India
C
State Bank of India
D
Reserve Bank of India
Question 61
Sugar Industry is totally
A
tiny industry
B
medium industry
C
agro-based industry
D
none of these
Question 62
The guardian of Indian money market is
A
State Bank of India
B
Central Bank of India
C
Reserve Bank of India
D
Indian Bank
Question 63
The first Five-year plan gave to priority to
A
agriculture and irrigation
B
large scale industries
C
unemployment and poverty
D
Communication and education
Question 64
Which one of the following in Indirect Tax?
A
Income Tax
B
Corporate Tax
C
Excise duty
D
Wealth tax
Question 65
First five-year plan is known as
A
Industrial plan
B
Rolling plan
C
Annual Plan
D
Agricultural plan
Question 66
Inflation means
A
decrease in price
B
increase in price
C
normal price
D
Flutuating price
Question 67
Iron and steel industry is categorized as
A
Small industry
B
Medium industry
C
Cottage industry
D
Basic industry
Question 68
Reserve Bank of India was established in the year
A
1935
B
1947
C
1950
D
1953
Question 69
Goods of an industry which are used in another industry for further production is called
A
Genetic goods
B
Luxury goods
C
Consumer goods
D
Capital goods
Question 70
If there is no agreement regarding sharing of profit or loss, all partners share
A
on the basis of capital contribution
B
equality
C
on the basis of managerial ability
D
all of these
Question 71
A bank who acts as banker to the Government is called
A
State Finance Corporation
B
Industrial Development Bank of India
C
Reserve Bank of India
D
Co-operative Bank
Question 72
The committee on Panchayat Raj Institution is
A
Vaidhyanathan Committee
B
Goswami Committee
C
Ashok Mehta Committee
D
Narashimhan Committee
Question 73
Entrepot trade means
A
Export trade
B
Re-export trade
C
Internal trade
D
wholesale trade
Question 74
The major emphasis in the first five-year plan was on
A
employment generation
B
agriculture
C
export promotion
D
industry
Question 75
NICEF was established in the year
A
1946
B
1956
C
1949
D
1954
Question 76
Which one of the following is correct
A
Human Development Index - United Nations
B
PQLI - 1996
C
Social indicators - India
D
Social indicators - India
Question 77
World Trade Organisation was started in the year
A
1984
B
1994
C
1995
D
1996
Question 78
Which of the following statements is correct regarding Indira Awas Yojana?
A
Soil and water conservation works
B
Construction of rural roads
C
Providing houses at free of costs to the members of SC/ST and free bonded labourers
D
Land development and waste land development
Question 79
Match List I with List II correctly and select your answer using the codes given below: List I                List II
  1. IFCI 1. 1955
  2. ICICI 2. 1964
  3. IDBI 3. 1948
  4. EXIM Bank 4. 1971
A
4 3 2 1
B
3 2 4 1
C
3 1 2 4
D
2 3 4 1
Question 80
Consider the following statements
  1. The expansion of the public sector  was based on Industrial Policy Resolution, 1956
  2. Govt. has announced New Industrial Policy in July, 1991.
  3. Govt. has not announced any industrial  policy at all.
Of the statements:
A
I alone is correct
B
II alone is correct
C
I and II are correct
D
All are correct
Question 81
Which one of the following is correctly matched?
A
Industrial policy statement - 2002
B
Report on the committee on disinvestment of shares (Rangarajan Committee) - 1987
C
Common Minimum Programme of United Front Govt. - 1996
D
Start of tenth Five-Year Plan - 2005
Question 82
For which purpose is the finance commission appointed?
A
To make recommendation for devolution of non-plan revenue resources
B
To earn foreign exchange
C
to recommended measures for profit making public sector enterprises
D
to impose taxes
Question 83
Existence of joint family system in India promotes
A
full employment
B
disguised unemployment
C
unemployment
D
structural unemployment
Question 84
Basic needs like food, clothing and shelter are _________ needs.
A
Physical
B
Social
C
Psychological
D
Cultural
Question 85
The first Five-Year plan gave importance to
A
agriculture
B
industries
C
employment opportunity
D
reducing poverty
Question 86
Agriculture gives rise to _______ employment.
A
cyclical
B
structural
C
seasonal
D
professional
Question 87
Custodian of foreign exchange is
A
Foreign Exchange Bank
B
Foreign Bank
C
State Bank of India
D
Reserve Bank of India
Question 88
Which of the following is correct?
A
Classification follows tabulation
B
Classification precedes tabulation
C
Both are done simultaneously
D
None of these
Question 89
Which of the following does not suit the underdeveloped countries?
A
Lack of technology
B
Low population
C
Lack of capital formation
D
Low level employment opportunity
Question 90
In the banks of India for which type of deposit is higher rate of interest paid
A
Recurring deposit
B
Fixed deposit
C
Senior citizen’s fixed deposit
D
Current deposit
Question 91
The Lead Bank Scheme was recommended by
A
Tandon Committee
B
Vaguls Committee
C
Sivaraman Committee
D
Gadgil Committee
Question 92
What was the target rate of increase in national income in the Five Five-Year Plan?
A
23%
B
11%
C
9%
D
12%
Question 93
Sequential file organization is most appropriate for which of the following applications?
A
Grocery store check-out
B
Checking bank A/c
C
Payroll
D
Airline reservations
Question 94
Match List I  with List II correctly and select your answer using the codes given below: List I                      List II
  1. 1st Five-Year Plan 1. 1961-66
  2. 3rd Five-Year Plan 2. 1985-90
  3. 5th Five-Year Plan 3. 1951-56
  4. 7th Five-Year Plan 4. 1974-79
A
1 3 2 4
B
4 2 3 1
C
3 1 2 4
D
3 1 4 2
Question 95
Public expenditure and public revenue are referred to
A
Public policy
B
Government policy
C
Welfare policy
D
Fiscal policy
Question 96
which one of the following is correctly matched?
  • Name of the Programme                           Year of Launching
A
Integrated Rural Development Programme 1977
B
Training Rural Youth for Self Employment 1979
C
National Rural Employment Programme 1980
D
Jawahar Rozgar Yojana 1988
Question 97
who invented Double Entry system of Book-keeping?
A
Luca Pacciola
B
Keynes
C
Hawtrey
D
Gunnar Myrdall
Question 98
Which system of banking is followed in India?
A
Unit banking
B
Branch banking
C
Merchant Banking
D
Mixed Banking
Question 99
What  do you mean by ‘Entrepot’ trade?
A
Export trade
B
Import trade
C
Import of goods for re-export
D
none of these
Question 100
Sarkaria Commission was appointed
A
to find a solution to the Punjab crisis
B
to examine Centre-State relations
C
to resolve Kaveri water dispute
D
to examine the nexus between politicians and criminals
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