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Home
Practice Tests
Economics Practice Tests
Economics Quiz - Question & Answers Set - 4
15 Questions
Time Left -
Economics Quiz - Question & Answers Set - 4
Question 1 :
Consider the following actions by the Government:
1. Cutting the tax rates
2. Increasing the government spending
3. Abolishing the subsidies In the context of economic recession,
which of the above actions can be considered a part of the "fiscal stimulus" package ?
A
1 and 2 only
B
2 only
C
1 and 3 only
D
1, 2 and 3
Question 2 :
When the Reserve Bank of India announces an increase of the Cash Reserve Ratio, what does it mean ?
A
The commercial banks will have less money to lend
B
The Reserve Bank of India will have less money to lend
C
The Union Government will have less money to lend
D
The commercial banks will have more money to lend
Question 3 :
With reference to India, consider the following statements :
1. The Wholesale Price Index (WPI) in India is available on a monthly basis only.
2. As compared to Consumer Price Index – for Industrial Workers (CPI(IW)), the WPI gives less weight to food articles.
Which of the statements given above is/are correct ?
A
1 only
B
2 only
C
Both 1 and 2
D
Neither, 1 nor 2
Question 4 :
With reference to the National Investment Fund to which the disinvestment proceeds are routed, consider the following statements:
1. The assets in the National Investment Fund are managed by the Union Ministry of Finance.
2. The National Investment Fund is to be maintained within the Consolidated Fund of India.
3. Certain Asset Management Companies are appointed as the fund managers.
4. A certain proportion of annual income is used for financing select social sectors.
Which of the statements given above is/are correct ?
A
1 and 2
B
2 only
C
3 and 4
D
3 only
Question 5 :
In India, which of the following is regulated by the Forward Markets Commission ?
A
Currency Futures Trading
B
Commodities Futures Trading
C
Equity Futures Trading
D
Both Commodities Futures and Financial Futures Trading
Question 6 :
Which one of the following is not a feature of Limited Liability Partnership firm?
A
Partners should be less than 20
B
Partnership and. management need not be separate
C
Internal governance may be decided by mutual agreement among partners
D
It is corporate body with perpetual succession
Question 7 :
Consider the following statements :
The functions of commercial banks in India include
1. Purchase and sale of shares and securities on behalf of customers.
2. Acting as executors and trustees of wills.
Which of the statements given' above is/are correct ?
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Question 8 :
In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years ?
A
Service tax
B
Personal income tax
C
Excise duty
D
Corporation tax
Question 9 :
Consider the following statements : In India, taxes on transactions in Stock Exchanges and Futures Markets are
1. levied by the Union
2. collected by the State
Which of the statements given above is /are correct ?
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Question 10 :
With reference to Indian economy, consider the following statements :
1. The Gross Domestic Product (GDP) has increased by four times in the last 10 years.
2. The percentage share of Public Sector in GDP has declined in the last 10 years.
Which of the statements given above is/are correct ?
A
1 only
B
2 only
C
Both 1 and 2
D
Neither 1 nor 2
Question 11 :
The term Parsimonius means:
A
Generous
B
Religious
C
Backbitting
D
Too economical
Question 12 :
Which one of the following is a characteristic of oligopolistic industries?
A
Product differentiation
B
Homogeneous goods
C
Price rigidity
D
Price discrimination
Question 13 :
When a leather industry discharges its waste in the river causing water pollution, the cost incurred on health hazards is called
A
Implicit cost
B
Social cost
C
Private cost
D
Opportunity cost
Question 14 :
Division of labour is a concept advocated by
A
Keynes
B
Marshall
C
Smith
D
Baumol
Question 15 :
Which one of the following is not a direct determinant of demand?
A
Savings
B
Income
C
Price of the commodity
D
Taste
Model Question Papers
Union Bank of India PO 2008 English Language
Binder Grade II Logical Reasoning & Mathematics
KSIE Junior Assistant Logical Reasoning & Mathematics
Kerala PSC LDC Thrissur 2003 Logical Reasoning & Mathematics
Kerala PSC LDC Palakkad 2003 Logical Reasoning & Mathematics
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