op eco 3 Flashcards
(390 cards)
1
Q
- Which of the following sets belong to Central tax? (A) Excise Duty, Sales Tax and Customs Duty (B) Excise Duty, Customs Duty and Income Tax. (C) Income Tax, Customs Duty and House Tax (D) Customs Duty, Entertainment tax and Income Tax
A
(B) [SSC Tax Asst. Exam, 2005, SSC CGL Exam 2015] Exp: Excise duty, Custom duty and Income tax is levied by central government.
2
Q
17.Which of the following taxes is not shared between the union and the states? (A) Income Tax (B) Excise Duty (C) Corporation Tax (D) Sales Tax
A
(D) [SSC SO Exam, 2005] Exp: Sales tax can be levied by both central government and state government. The sale within the state is under the authority of state government and inter-state sale is within the authority of central government.
3
Q
18.Which of the following taxes is levied by the Union and appropriated and planned by the states? (A) Service Tax (B) Stamp Duty (C) Property Tax (D) Passenger and Freight Duty
A
(B) [SSC SO Exam, 2005] Exp: Stamp duty is levied by union and appropriated and planned by states.
4
Q
19.Which of the following taxes is such which does not cause rise in price? (A) Import Duty (B) Income Tax (C) Octoroi (D) Sales Tax
A
(B) [SSC SO Exam, 2005] Exp: Income tax is levied on income of individuals. Hence, it does not lead to increase in prices of commodities.
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Q
20.Who among the following has suggested tax on expenditure? (A) Dalton (B) Kaldor (C) Musgrave (D) Gautam Mathur
A
(B) [SSC Tax Asst. Exam, 2005] Exp: Micholas Kaldor in his work ‘An expenditure tax
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Q
- The proceeds of Income tax go to- (A) Central Government (B) State Government (C) Centre and States (D) Corporation Authorities
A
(C) [SSC CPO Exam, 2003] Exp: The proceeds of Income tax are shared between centre and states. While it is imposed and collected by central government.
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Q
29.How does the consumer benefit with VAT? (A) It removes tax on tax and thus reduces price rise (B) Reduces the cost of production (C) With the abolition of the sales tax (D) Due to the exemption of small businesses from the tax within certain limits prescribed by the state
A
(A) [SSC CPO Exam, 2003] Exp: Value added tax eliminates the cascading effect on tax resulting reduction in price rise. In value added tax, tax is placed whenever a value is added at the stage of production.
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Q
30.The receipts of which of the following taxes/ duties are not shared with the states? (A) Tax on income except agriculture (B) Corporation tax (C) Surcharge on Income tax (D) Capital gain tax
A
(A) [SSC SO Exam, 2003] Exp: Tax on income except agriculture are not shared with states and it is levied and collected by central government.
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Q
31.Corporation tax is a tax imposed on- (A) The net incomes of the companies (B) The corporate properties (C) The utilities provided by the corporation (D) Tax imposed by the corporation on individual properties
A
(A) [SSC MTS. 2002] Exp: Corporation tax is a type of direct tax levied on net income of the company. It is levied by central government.
10
Q
32.The duties levied on alcoholic liquors, narcotic drugs and opium come under- (A) Central Excise Duty (B) Land Revenue (C) State Excise Duty (D) General Sales Tax
A
(A) [SSC MTS. Exam, 2002] Exp: The duties levied on alcohol liquor, narcotic drugs and opium comes under central excise duty. Excise duty is a type of tax which is levied on goods produced within the country.
11
Q
33.Parallel economy emerges due to- (A) Tax Avoidance (B) Tax Evasion (C) Tax Compliance (D) Tax Estimation
A
(B) [SSC MTS. Exam, 2002] Exp: Parallel economy is the economy based on black money i.e. unaccounted money. This type of economy exists due to functioning of illegal sector or sectors not complied to the government. Tax evasion is a mechanism of payment or underpayment of taxes by hiding the facts from the government. The money earned from tax evasion generates black money and when this money comes in economy it is called as parallel economy.
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Q
34.A tax is characterised by horizontal equity if its liability is- (A) Proportional to the income of tax payers (B) Similar for tax payers in similar circumstances (C) Proportional to the expenditure of tax payers (D) The same for every tax payer
A
(A) [SSC SO Exam, 2001] Exp: Horizontal equity in economics is a theory that states people having simillar income or earning should obliged to pay same or equal, taxes. So a tax is characterised by horizontal equity if its liability is proportional to the income of tax payers
13
Q
. 35. Which authority recommends the principles governing the grants in aid of the revenues of the states out of the Consolidated Fund of India? (A) Public Accounts Committee (B) Union Ministry of Finance (C) Finance Commission (D) Inter-State Council
A
(C) [SSC SO Exam, 2001] Exp: Finance commission laid out the principles which govern the grant-in-aid of the revenues to the states out of the Consolidated Fund of India.
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Q
35.Buoyancy of a tax is defined as- (A) Percentage increase in tax revenue/ percentage increase in tax base (B) Increase in tax revenue/percentage increase in tax coverage (C) Increase in tax revenue/increase in tax base (D) Percentage increase in tax revenue/increase in tax coverage
A
(C)Exp: Tax buoyancy is defined as the ratio of increase in tax revenue to percentage increase in tax coverage. It deals with increasing growth of an economy rather than changing tax rates.
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Q
36.Which one of the following is not an Example of Indirect tax? (A) Sales Tax (B) Excise Duty (C) Customs Duty (D) Expenditure Tax
A
(D) [SSC CGL Exam, 2000] Exp: Expenditure tax is not an Indirect tax. It is imposed on expenditure done by people rather than income of people.
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Q
37.’Quota’ is- (A) Tax levied on imports (B) Imports of capital goods (C) Limit on the quantity of imports (D) Limit on the quantity of exports
A
(C) [SSC MTS Exam, 2000] Exp: Import quota is the restrictions placed by government on quality of imports through various rules and regulations.
17
Q
38.Which is the biggest tax paying sector in India? (A) Agriculture sector (B) Industrial sector (C) Transport sector (D) Banking sector
A
(B) [SSC CGL Exam, 2010] Exp: In India the biggest tax paying sector is Industrial sector.
18
Q
39.The incidence of tax refers to,- (A) Who pays the tax (B) Who bears the burden of tax (C) How taxes can be shifted (D) Who transfers the tax burden
A
(B) [SSC MTS. Exam, 2002] Exp: Incidence of tax refers to the people who bears the burden of tax.
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Q
40.Ad Valorem tax is levied- (A) According to value added by the government. (B) According to value addition to a commodity (C) According to value given by producers (D) According to value added by the Finance ministry
A
(C) [SSC MTS Exam 2002, SSC CHSL 2017] Exp: Ad valorem tax is the tax which is imposed on the value of the property. Ad valorem is a Latin word which means according to value.
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Q
41.State which amongst the following is not true about VAT (A) All States have uniform vat for the same product (B) State have discretion to fix the rate of tax within the four rates prescribed (C) It will promote production efficiency of investments (D) It will make our exports more competitive
A
(A) (SSC Section Officer (Audit) 2003) Exp: One of the feature of value added tax is that it is not uniform for same product throughout all the states.
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Q
42.Which amidst the following taxes collected by the Union is NOT mandated to be assigned to the States? (A) Terminal taxes on goods or passengers carried by railway, sea or air. (B) Taxes on railway fares and freights. (C) Taxes on consignment of goods. (D) Service Tax
A
(D) (SSC CGL Pre 2004) Exp: Service tax is tax levied by central goverment on service provided. It is calculated by union and is not mandated to be assign to states.
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Q
43.Among the tax revenues of the Union Government, what is the largest source? (A) Income tax (B) Corporation tax (C) Central Excise (D) Customs Duty
A
(B) (SSC CGL Pre 2000) Exp: Corporation tax is a tax imposed on income of the company. Corporation tax is the largest source for tax revenues to the union government.
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Q
44.The largest source of revenue to the Union Government is- (A) Income tax (B) Central Excise Duty (C) Customs Duty (D) Wealth Tax
A
(A) (SSC CGl Pre 2002) Exp: Corporation tax is tax imposed on income of company. Corporation tax is the largest source for tax revenue to the union government. Second largest source of revenue to the union government is Income tax.
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Q
45.The Government of India derives its single largest source of revenue from- (A) Direct Taxes (B) Customs Duties (C) Deficit Financing (D) Union Excise Duties
A
(A) (SSC CGL Pre 2008) Exp: Direct taxes because direct tax involves corporation tax that is tax imposed on income of company. Corporation tax is the largest source for tax revenue to the union government. Second largest source of revenue to the union government is Income tax.
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46.For which tax, was constitutional status given much later after its introduction in a small way in 1994-95? (A) Customs Duty (B) Coporation Tax (C) Taxes on Services (D) Income tax
(C) (SSC CGL Pre 2013) Exp: Tax on services was given consititutional status much later after its introduction in a small way in 1994-95.
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48. Indirect tax means: (A) There is not direct relationship between the tax payer and the government. (B) Direct relationship between tax payer and the government. (C) Tax base is income (D) The incidence and impact are on the same person on whom tax is imposed.
(A) (SSC CGL Pre 1999) Exp: Indirect taxes are those taxes in which incidence and tax impact are on different persons. There is not direct relationship between the tax payer and government.
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49.The incidence of sales tax falls on- (A) Consumers (B) Wholesale dealers (C) Retail dealers (D) Producers
(D) (SSC Section Officer 2003) Exp: In sales tax; tax incidence falls on producer because producer is the unit where tax is imposed but tax impact is on consumer.
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50.The 'Canons to Taxation' were propounded by- (A) Edwin Canon (B) Adam Smith (C) J.M. Keynes (D) Dalton
"(B) (SSC CGl Pre 2001) Exp: Canons to taxation were propounded by Adam Smith in his famous book ""wealth of Nations"". Canons of taxation are the basic principles compilation to build a good tax system."
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51.The tax levied on gross sales revenue from busines transactions is called- (A) Turnover Tax (B) Sales Tax (C) Capital Gains Tax (D) Corporation Tax
(A) (SSC CGL Pre 2002) Exp: Turover tax is tax paid on aggregate revenue from transaction. So tax levied on gross sales revenue from business transaction is called as turnover tax.
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52.Interest paid by the government on the loans raised is called- (A) Debt Servicing (B) Deficit Financing (C) Discounted Budgeting (D) Bridge-loan
(A) (SSC CGL Pre 2006) Exp: Debt servicing is amount that is required to pay interest and principal on debt.
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53. Custom duty is an instrument of- (A) Monetary Policy (B) Foreign Trade Policy (C) Industrial Policy (D) Fiscal Policy
(B) (SSC MTS 2013) Exp: Custom duty is tax levied on import of article from another country, in other words it is barricade to import. It is an instrument of foreign trade policy.
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53.Value-added means value of- (A) Output at factor cost (B) Output at market prices (C) Goods and services less depreciation (D) Goods and services less cost of intermediate goods and services
(D) (SSC CGL Pre 2013) Exp: Value- added means the value or addition to the article increased at each stage of production. So value added means value of goods and services less cost of intermediate goods and services.
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54.Which of the following is an indirect tax? (A) Capital Gains Tax (B) Excise Duty (C) Wealth Tax (D) Estate Duty
(B) (SSC CAPF S.I ASI 2013) Exp: Indirect tax are those tax which have different tax impact and tax. In simple words indirect taxes are those taxes whose burden is transferred to end user. Like excise duty levied on manufacturer but burden is transferred to end user.
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55.Taxes on professions can be levied by: (A) State government only (B) Both by state and union government (C) By panchayats only (D) Union Government only
(A) (SSC CAPFs SI & ASI 2003) Exp: Professional tax is tax levied by state government on all persons who practice any profession.
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56.A part of National Debt known as External Debt is the amount- (A) Borrowed by its citizens from abroad (B) Lent by its citizens to foreign governments (C) Borrowed by its government from abroad (D) Lent by its government to foreign government
(C) (SSC (10+2) DEO & LDC 2013) Exp: A part of National Debt known as external debt is the amount borrowed by its government from abroad.
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57.The non-expenditure costs which arise when the producing firm itself owns and supplies certain factors of production are- (A) Explicit costs (B) Original costs (C) Implicit costs (D) Replacement costs
(C) (SSC (10+2) DEO & LDC 2013) Exp: The non expenditure costs which arise when the producing firm itself owns and supplies certain factors of productions are Implicit costs.
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58.Taxes are as certain as the death, because- (A) They constitute the major source of government revenue. (B) Government have no other source of revenue. (C) Most PSUs are run inefficiently. (D) Government has its own budget constraints.
(A) (SSC (10+2) DEO & LDC 2014) Exp: Taxes are as certain as death because tax constitute the major source of government revenue.
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59.Which among the following is not a non-customs duty obstacle the world trade? (A) Quantity restriction (B) Establishment of Standard (C) Determination of import duty uniformly (D) Restrictions on goods quality
(C) (SSC Section Oficer (AUdit) 1997) Exp: Quantity restriction, restrictions on goods quality and establishment of standard of labour in manufacturing all these are non-customs duty obstacle. Detemination of import duty uniformly is not a non-customduty obstacle in world trade.
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60.Which one of the following taxes is collected and utilized by the State Governments? (A) Personal income tax (B) Corporation tax (C) Land revenue (D) Custom duties
(C) (SSC CPO S.I 2004) Exp: Land revenue tax is collected and utilized by the state government.
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61.Which of the following taxes are levied and collected by the centre but their net proceeds are wholly transferred to states? (A) Expenditure Tax and Gift Tax (B) Additional Duties of Excise in lieu of Sales Tax (C) Stamps and Registration (D) Taxes on Advertisement
(D) (SSC SAS Pre 2010) Exp: Taxes on advertisement are levied and collected by centre but net procedes of these are wholly transferred to states.
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62.In India which of the following taxes is levied by the State governments? (A) Excise duty on liquor (B) Capital gains tax (C) Customs tax (D) Corporation tax
(A) [SSC CHSL 2013] Exp: Tax levied by state government are: Agriculture Income Tax, Stamp duty, Property tax, Excise on liquor and Narcotics, drugs tolls batting and gambling, entertainment tax, advertisement tax.
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63.Excise duty is levied on- (A) Sale of goods (B) Production of goods (C) Import of goods (D) Export of goods
(B) [SSC CHSL 2013, SSC CGL 2010] Exp: Excise duty is amount of money that is received in form of tax on production of goods in economy.
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64.The GST (Goods and Services Tax), recently passed by Government will be levied on which of the following products? (A) Petroleum Crude (B) Tobacco (C) Natural Gas (D) Aviation Turbine Fuel
(B) [SSC CHSL 2013] Exp: Petroleum crude, Natural Gas and Aviation fuel are exempted in GST.
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65.Tax on inheritance is called______. (A) Excise duty (B) Estate duty (C) Gift tax (D) Sales tax
(B) [SSC CHSL 2014] Exp: Estate duty is tax levied on the money or property received from inheritance.
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66.Which of the following tax systems will help to reduce economic inequalities in India? (A) Regressive Tax (B) Progressive Tax (C) Flat rate tax (D) None of these
(B) [SSC CGL 2014] Exp: Progressive tax is tax regime in which tax rate increase with increase in income and decreases with decreases in income. By imposing more tax on rich and distribution of amount recived in tax among marginalised. Hence, tax systems will help in reducing inequalities.
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"67.Which State Government has recently abolished ""agriculture income tax"" (A) Karnataka (B) Rajasthan (C) Bihar (D) Assam"
(A) [SSC CGL 2014] Exp: In state budge 2016-17 of Karnataka, agriculture income tax has been abolished.
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68.CENVAT is related to which of the following? (A) Sales Tax (B) Excise Duty (C) Custom Duty (D) Service Tax
(B) [SSC CGL 2014] Exp: Central value added tax is system of tax in which input tax is credited in the name of tax payer i.e. credit in respect of excise on inputs purchase for production.
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69.What is an octroi? (A) Tax (B) Tax collection center (C) Tax processing center (D) Tax information center
(A) [SSC CGL 2014] Exp: Octroi is a local tax levied on goods and services brought into a distribution (local area) for consumption.
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70.The main effect of Direct Taxes is on- (A) Food prices (B) Consumer goods (C) Capital goods (D) Income
(D) [SSC CGL 2015] Exp: Direct taxes are those taxes which have incidence of tax and impact of tax at the same point, resulting effect on income of the person.
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71.The term 'Dumping' refers to- (A) The sale of a sub-standard commodity (B) Sale in a foreign market of a commodity at a price below marginal cost (C) Sale in a foreign market of a commodity just at marginal cost with too much of profit (D) Smuggling of goods without paying any customs duty
(B)Exp: Dumping refers to pricing policy in which price is kept less in comparison to other organization for product to cover more market or to fail another products.
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72.If a person's income increases from Rs. 10 lakhs per year to Rs. 11 lakhs per year and tax increases from Rs. 80,000 to Rs. 92,500 the marginal tax rate is- (A) 12.50% (B) 8% (C) 10% (D) 15%
(A) [SSC CHSL 2017] Exp: Marginal tax is rate at which tax has been increased in comparision to increase in income. Marginal tax rate = Changeintotaltax paid Changeinincome So answer will be 12.50%
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73.This tax is entirely borne by the entity it is levied upon and cannot be passed- (A) Direct tax (B) Indirect tax (C) Straight tax (D) Advance tax
(A) [SSC CHSL 2017] Exp: Nature of tax can be known by observing two factors. The point where tax is imposed and the point where tax effects. A situation where both point are same then it will be direct tax.
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74.First country to impose carbon tax is ________. (A) Australia (B) Iceland (C) USA (D) New Zealand
(D) [SSC CHSL 2017] Exp: Carbon tax is tax on quantity of carbon producing fuel and the first country to levy carbon tax is New zealand in 2005.
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75.If a person's income increases from Rs 20 lakhs per year to Rs 24 lakhs per year and tax increases from Rs 3,50,000 to Rs 4,00,000 the marginal tax rate is- (A) 8 percent (B) 12.5 percent (C) 10 percent (D) 15 percent
(B) [SSC CHSL 2017] Exp: Marginal tax rate =% in tax 100 in income By putting values to formula we will get 12.5%
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76.Which of the following is a Direct tax? (A) Excise Duty (B) Customs Duty (C) Service Tax (D) Wealth tax
(D) [SSC CHSL 2017] Exp: Direct tax are those taxes which are imposed and impact at a same person. Wealth tax is tax levied on wealth created by a person and is bear by himself.
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77.Which among the following is not a direct tax? (A) Income tax (B) Wealth tax (C) Corporate tax (D) None of these
(D) (SSC CGL 2017) Exp. Direct tax is tax where impact of tax and incidence of tax falls on same person whereas indirect tax is where impact and incidence of tax are on two different persons. Examples of direct taxes are:- Income tax, wealth tax, corporate tax.
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78.Which tax causes a burden on the poorer section of the society? (A) Direct Tax (B) Indirect Tax (C) Both Direct and Indirect Tax (D) None of these
(B) (SSC CGL 2017) Exp. Indirect taxes are those taxes which are implemented at some place but realised at other place. It means the impact of indirect tax can be transferred to other people. Usually organisation transfer it to consumer. So, Indirect tax causes a burden on the poor section of society.
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79.Which among the following is an example of progressive tax? (A) Excise duty (B) Octroi (C) Income tax (D) House tax
(C) (SSC CPO 2017) Exp. Progressive tax: Rate of tax increases with increase in income of tax payers. Tax like Income Tax is a progressive tax.
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1.A part of National Debt known as External Debt is the amount. (A) Borrowed by its citizen from abroad (B) Lent by its citizens to foreign governments (C) Borrowed by its government from abroad (D) Lent by its government to foreign government
(C) [SSC 10+2 2013] Exp: The Money borrowed by its government from abroad is a part of national debt which is also known as External debt.
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2.The process of organizing business-pact between group of countries is called as - (A) Trading Block (B) Trade venture (C) Trade Partner (D) Trade organizer
(A) [SSC (CGL) Exam, 2010] Exp: A trading block is a set of countries which are engaged in intra trading activities by reducing tariffs and other barriers among member states.
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3.The practice of selling goods in a foreign country at a price below their domestic selling price is called- (A) Diplomacy (B) Discriminator (C) Dumping (D) Double pricing
(C) [SSC SO Exam, 2006] Exp: Dumping is a phenomemom which is related to the international trade. It occurs when a manufacturing country starts selling goods in foreign country at a lower price than price charged in domestic market.
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"4.""Full convertibility of a rupee"" means- (A) Purchase of foreign exchange for rupees only (B) Payment for imports in terms of rupees (C) Repayment of loans in terms of rupees (D) Determination of rate of exchange between rupee and foreign currencies freely by the market forces of demand and supply."
(D) [SSC T.A. 2009] Exp: Full convertibility of currency means that currency of a country can be fully converted into foreign exchange at market determined exchange rate. That is determined by demand and supply of a currency in the market.
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5.The Full form of SDR is- (A) Special Dollar Rights (B) Special Drawing Rights (C) State Drawing Rights (D) Specific Dollar Right
(B) [SSC CPO Exam, 2008] Exp: Special Drawing right is an instrument of IMF (International Monetary Fund). Holders of SDR's can obtain freely usable currencies in exchange of their SDR's
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6.Buying of shares and bonds of Indian companies by foreign institutions is called- (A) Foreign Direct Investment (B) Portfolio Investment (C) Institutional Investment (D) Foreign Indirect Investment
(B) [SSC CGL Exam, 2011 Exp: Portfolio investment includes buying of shares and bonds in India companies by foreign investors without involving themselves in the management of company.
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7.Private investment is otherwise called as- (A) Autonomous investment (B) Foreign institutional investment (C) Foreign direct investment (D) Induced investment
(D) [SSC CGL April 2014] Exp: Private investement is also called as induced investment because induced investment is affected by level of income or growth of economy. The same feature of induce investment relates to private Investment. Private invetment in economy means investment in those capital assets which will help in production or income and it totally depends on level of income.
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8.The annual record for all the monetary transactions of a country with other countries of the world is known as- (A) Balance of Trade (B) Balance of Monetary Receipts (C) Balance of Payments (D) Balance Sheet
(C) [SSC T.A. Exam, 2005] Exp: The Balance of payments of a country is the record of all financial transactions between a country and rest of the world.
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9.India's Balance of Payments can be corrected through- (A) Devaluation of currency (B) Vigorous export promotion (C) Import substitution (D) All of the above
(D)Exp: Balance of payments imbalance can be corrected through following methods:- (A) Export promotion (B) Import substitution or restrictions (C) Reducing inflation (D) Exchange control by rationing foreign exchange (e) Devaluation of domestic currency
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10.Which one of the following items is not included in the current account of India's Balance of Payments? (A) Short-Term Commercial Borrowings (B) Non-Monetary Gold Movements (C) Investment Income (D) Transfer Payments
(B) [SSC CGL Exam, 2007] Exp: Current account of India's balance of payments includes balance of trade (export or import), balance of invisibles (services), unilateral transfers (gifts, donation and personal remittance) and income receipts and payments to and from abroad.
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11.When there is an official change in the exchange rate of domestic currency, then it is called- (A) Appreciation (B) Depreciation (C) Revaluation (D) Deflation
(C) [SSC CGL 2011] Exp: Revaluation of a currency means adjustment of exchange rate with respect to a choosen baseline. Revaluation of currency can take place in any country where exchange rate is regulated by central bank of that country.
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12.At present, India is following- (A) Fixed exchange Rate (B) Floating exchange Rate (C) Pegged up exchange Rate (D) Pegged down exchange Rate
(B) [SSC CGL Exam, 2010] Exp: India follows managed floating exchange rate system to determine the exchange rate. It is a hybrid system in which exchange rate is determind by forces of demand and supply but in extreme circumstances central bank can also intervene to manage exchange rate.
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13.The outcome of 'devaluation of currency' is- (A) Increased export and improvement in balance of payment (B) Increased export and foreign reserve deficiency (C) Increased import and improvement in balance of payment (D) Increased export and import
(A) [SSC T.A.2006, SO, 2003] Exp: Devaluation of currency means reducing the value of a country's currency with respect to other currencies. Devaluation increases the price of imports and encourages exports. hence it will improve coontry's balance of payment.
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14.The Government resorts to devaluation of its currency in order to promote- (A) National Income (B) International Goodwill (C) Exports (D) Savings
(C) [SSC CPO Exam, 2005] Exp: In fixed exchange rate system the central bank of a country devalues its currency with respect to other currencies to promote exports.
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15.Devaluation makes import- (A) Competitive (B) Inelastic (C) Cheaper (D) Dearer
(D) [SSC SO Exam, 2005] Exp: Devaluation makes imports more expensive, hence discouraging imports.
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16.When did the rupee become a freely convertible currency on Current Account in India? (A) 2000 (B) 2001 (C) 1994 (D) 1999
(C) [SSC T.A. Exam, 2004] Exp: India has moved to complete convertibility on current account in 1994. Convertibility on current account means that there is no restriction on export and import of goods and services.
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17.Devaluation usually causes the internal prices to- (A) Fall (B) Rise (C) Remain unchanged (D) None of the above
(C) [SSC CGL Exam, 2004] Exp: Devaluation of currency is related to the international trade. It affects the price of exports and imports but it does affect the internal prices.
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18.Floating Exchange Rate is also referred to as- (A) Flexible Exchange Rate (B) Fixed Exchange Rate (C) Real Exchange Rate (D) Controlled Exchange Rate
(A) [SSC MTS Exam, 2002] Exp: When the exchange rate is determined by the forces of demand and supply of currency, it is known as floating exchange rate or flexible exchange rate.
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19.Which one of the following does not deal with export promotion? (A) Trade Development Authority (B) Minerals and Metals Trading Corporation (C) Cooperative Marketing Societies (D) State Trading Corporation of India
(C) [SSC CGL Exam, 2008] Exp: All the authorities mentioned above deals in export in terms of international trade except in cooperative marketing societies. Cooperative marketing societies are voluntary organizations formed by farmers. There area of operation is restricted or fixed with reference to local conditions that are area based or commodity based on the local environment.
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20.A trade policy consists of- (A) Export-Import Policy (B) Licencing Policy (C) Foreign Exchange Policy (D) Balance of Payment Policy
(A) [SSC MTS Exam, 2008] Exp: Trade policy of any country is related to rules and regulations that control imports and exports to foreign countries. It is also known as Export- Import policy.
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21.The biggest item of India's imports is- (A) Iron ore (B) Mica (C) Petroleum products (D) Gems and Jewellery
(C) [SSC MTS Exam, 2006] Exp: The biggest item of India's import is petroleum products. India being net petroleum import based country due to petroleum reserve deficiency.
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22.The difference between visible exports and visible imports is defined as- (A) Balance of Trade (B) Balance of Payment (C) Balanced Terms of Trade (D) Gains from Trade
(A) [SSC T.A. Exam, 2006] Exp: Balance of trade deals with all financial transactions of foreign currencies in import and export of goods. Balance of trade implies trade of physical goods that is why it is also known as balance of visibles.
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23.A country's balance of trade is unfavourable when- (A) Exports exceed imports (B) Imports exceed exports (C) Terms of trade become unfavourable (D) None of the above
(B) [SSC Investi. Exam, 2006] Exp: When imports of any country exceed its exports, it will lead to deficit on balance of trade. Deficit on balance of trade is unfavourable for any country's economic health.
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24.Theoretically trade between two countries takes place on account of- (A) Difference in Costs (B) Scarcity of Goods (C) Comparative Differences in Costs (D) Need for Exports
(C) [SSC MTS Exam, 2002] Exp: Trade between two countries is based on the theory that no country is self sufficient it is always in one commodity and deficit in another commodity so trade happens. More preceisely trade between two countries exists because different countries have a comparative advantage in production of some commodity. So theoretically trade between two countries takes place on account of comparative difference in costs.
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25.FERA in India has been replaced by- (A) FEPA (B) FEMA (C) FENA (D) FETA
(B) [SSC T.A. Exam, 2008] Exp: Foreign Exchanges Regulation Act (FERA) was passed in 1973 which deals with restrictions and regulations on foreign exchange transactions. It was replaced by foreign exchange management Act in 1999, which replaced regulations by management of foreign exchange transactions
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26.One of the main factors that led to rapid expansion of Indian exports is- (A) Imposition of import duties (B) Liberalisation of the economy (C) Recession in other countries (D) Diversification of exports
(D) [SSC CPO Exam, 2007] Exp: Diversification of export is a strategy in international trade to increase commodity demand and reducing dependency on single economy. Diversification of export forms a cushion which absorb shocks from economy. Diversification of export is one of factor that led to rapid expansion of Indian exports.
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27.Interest on public debt is part of- (A) Transfer payments by the enterprises (B) Transfer payments by the government (C) National income (D) Interest payments by households
(B) [SSC SO Exam, 2005, CGL Exam, 2000] Exp: Interest on public debt is part of transfer payments by the government.
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28.What is the revised upper limit for foreign direct investment in telecom service companies? (A) 49 per cent (B) 51 per cent (C) 66 per cent (D) 74 per cent
(A) (SSC CGL Pre 2004) Exp: Latest FDI allowed in telecom industry is retained to 100% of this 49% is allowed through automatic route.
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29.Canalised list of items in foreign trade on India refers to- (A) The items to be imported by the private agencies (B) List of items to be subsidised (C) List of items to be granted duty concession (D) Items to be imported only by the State owned undertaking
(D) (SSC CGL Pre 2002) Exp: Canalized list of items in foreign trade on India refers to item to be imported only by state owned undertaking like wheat and muslin of other than seed quality.
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30.Which of the following does not form a part of the foreign exchange reserves of India? (A) Gold (B) SDRs (C) Foreign currency assets (D) Foreign currency and securities held by the banks and corporate bodies
(D)Exp: Foreign exchange reserve of India consists of four categories:- (1) Foreign currency Assets (2) Gold (3) Special drawing rights (4) Reserve Tranche Position in IMF
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31.How the interest-level of a country is affected by FDI? (A) Increases (B) Decreases (C) Remains unaffected (D) There is increase or decrease
(B) (SSC Section Officer (Audit) 1997) Exp: Foreign Direct investment is direct investment in the economy. FDI provides inflow of capital resulting increase in availability of money, leading to decrease in interest level of country.
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32.Disinvestements is- (A) Offloading of shares of privates companies to government (B) Offloading of government shares to private companies (C) Increase in investment (D) closing down of business concerns
(B) (SSC CPO S.I 2008) Exp: Disinvestment is offloading of government share to private companies.
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33.Foreign currency which has a tendency of quick migration is called- (A) Scare currency (B) Soft currency (C) Gold currency (D) Hot currency
(D) (SSC Section Officer (Audit) 2007) Exp: Hot currency is the currency which flows inward and outward quickly to maximize the profit. These currency are called as hot because hot is considered to be having quick flow feature.
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34.Devaluation of currency leads to- (A) Expansion of export trade (B) Contraction of import trade (C) Expansion of import substitution (D) All of the above
(D) (SSC Section Officer (Audit) 2008) Exp: Devaluation of currency is one of the technique to manage exchange rate. Devaluation of currency means lowering the value of domestic currency against foreign currency. Results of devaluation are (1) Increase in export (2) Decrease in import (3) Increase in import substitution.
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35.Under flexible exchange rate system, the exchange rate is determined by- (A) The Central Bank of the country (B) The forces of demand and supply in the foreign exchange market (C) The price of gold (D) The purchasing power of currencies
(B) (SSC CGL Pre 2001) Exp: Under flexible exchange rate system, exchange rate is decided by market forces precisely by forced of demand and supply of the currency in foreign exchange market.
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36.A currency having a falling exchange rate due to continuing balance of payments deficit is called a- (A) Soft currency (B) Hard currency (C) Scarce currency (D) Surplus currency
(A) (SSC CGL Pre 2002) Exp: Soft currency is having a falling exchange rate due to continuing balance of payment deficits.
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37.Funds which flow into a country to take advantage of favourable rates of interest in that country is called- (A) Cold Money (B) Black Money (C) Hot Money (D) White Money
(C) (SSC CGL Pre 2011) Exp: Hot currency is the currency which flows in ward and outward quickly to maximize profit. These currency are called as hot because hot is considered to be having quick flow feature.
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38.The purpose of devaluation is to: (A) Be little foreign currencies (B) Encourage export (C) Discourage export (D) Encourage import
(B) (SSC MTS 2014) Exp: Devaluation of currency is one of the technique to manage exchange rate. Devaluation of currency means lowering the value of domestic currency against foreign currency. Results of devaluation are (1) Increase in export (2) Decrease in import (3) Increase in import substitution.
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39.Pegging up of a currency means, fixing the value of a currency- (A) At a constant level (B) at a lower level (C) At a higher level (D) Leaving at market forces
(C) (SSC CGL Pre 2011) Exp: Pagging up of a currency means fixing currency exchange at a higher level. Pegging is another name under fixed exchange rate system, where exchange rates are fixed.
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40.A favourable Balance of Trade of a country implies that- (A) Imports are greater than Exports (B) Exports are greater than Imports (C) Both Imports and Exports are equal (D) Rising Imports and Falling Exports
(B) (SSC FCI Assistant 2011) Exp: Balance of trade is balance of export and imports. So favaurable balance of trade is when exports are more than imports or in simple words when earnings are more than expenditures.
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41.Contries that depend mainly on the export of primary products for their income, are prone to- (A) Inflation (B) Economic instability (C) Increasing unemployment (D) Stable economic growth
(C) (SSC Combined Matric Lavel (Pre) 2006) Exp: Countries that depend mainly on the export of primary product for their income are prone to increasing unemployment because export of primary products leads to no further process of primary products to secondary and tertiary sectors. So this situation of export will create unemployment.
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42.The balance of payments of a country is in equalibrium when the- (A) Demand as well as supply of the domestic currency are the highest (B) Demand for the domestic currency is equal to its supply (C) Demand for the domestic currency is the highest (D) Demand for the domestic currency is the lowest
(B) (SSC CGL Pre 2013) Exp: Equilibrium is when demand equals supply. So balance of payments of country is in equilibrium when the demand for domestic currency is equal to its supply.
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43.In the balance of payments account, unrequited receipts and payments are also regarded as- (A) Bilateral transfers (B) Unilateral transfers (C) Capital accounts transfers (D) Invisible transfers
(B) (SSC ACPFs SI, CISF ASi 2014) Exp: Unrequited receipts and payments are considered to be unilateral transfer as the flow is only in one direction with no return. There is no return obligation with these transfer because these are gifts and grants exchanged between governments and people in the world.
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44.As a result of higher rate of inflation in India, the U.S. dollar will- (A) Depreciate (B) Constant (C) Negligible (D) Appreciate
(D) (SSC CHSL (10+2) DEO & LDC 2015) Exp: Inflation is increase in general price level of commodities. Inflation leading to reducing value of currency because same thing was purchased by less money before inflation. So lower value of domestic currency against U.S. dollar. It will automatically appreciate value of U.S. Dollar.
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45.Which type of foreign investment is considered as unsafe? (A) Foreign Direct Investment (FDI) (B) Portfolio Investment (C) NRI deposits (D) External commercial borrowing
(B) (SSC CGL Pre 2016) Exp: Foreign portfolio Investment is considered to be unsafe because foreign portfolio investment has a tendency of quick migration due to high influence by high rates of return Sudden migration of money can deteriorate economy severely.
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46.At present, India is following- (A) Fixed exchange rate (B) Floating exchange rate (C) Pegged up exchange rate (D) Pegged down exchange rate
(B) (SSC CGL Pre 2010) Exp: At present, India is following floating exchanges rate. Floating exchange rate is system of exchange rate where exchange rate is decided according to demand and supply of currency.
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47. Excise duty is levied on- (A) Sale of goods (B) Production of goods (C) Import of goods (D) Export of goods
(D) (SSC CGL Pre 2010) Exp: Excise duty is amount of money that is received by government from tax on production of goods in economy.
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47.Lowering of value of currency relative to a foreign reference currency is called _________. (A) Devaluation (B) Revaluation (C) Down valuation (D) Negative valuation
(A) [SSC CHSL 2017] Exp: Devaluation is mechanism of fixing exchange rate in which domestic currency value is reduced in comparision to foreign currency. Revaluation: In the domestic currency value is increased in comparision other foreign currency.
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48.Balance of Trade is the difference between- (A) Country's Income and Exemse (B) Country's Exports and Improts (C) Country's tax Revenus and Expense (D) Country's capital inflow and outflow
(B) [SSC CHSL 2017] Exp: Balance of trade is difference between visibles in Balance of payment. In other words it is difference between exports and imports in a country.
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49.Which among the following is not an account under Balance of Payment? (A) Current Account (B) Capital Account (C) Official Reserves Account (D) Unilateral Payments Account
(C) [SSC CGL 2017] Exp: Balance of Payment is the total transaction done with foreign countries. It includs accounts (i) Capital account (ii) Current Account (iii) Unilateral Pyament account
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.51. The __________ exchange rate is the relative price of foreign goods in terms of domestic goods. (A) Artificial (B) Nominal (C) Fixed (D) Real
(D) [SSC CGL 2017] Exp: There are two types of exchange rate one is Nominal exchange rate and another is Real exchange rate. Nominal exchange rate is the price of one unit of forgin currency in terms of domestic currency. Real exchange rate is the ratio of price level outside or abroad and the domestic country's price level.
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52.The __________ exchange rate is the price of one unit of foreign currency in terms of domestic currency. (A) Artificial (B) Nominal (C) Fixed (D) Real
(B) [SSC CGL 2017] Exp: There are two types of exchange rates. One is Nominal exchange rate and another is Real exchange rate. Nominal exchange rate is the price of one unit of foreign currency in terms of domestic currency. Real exchange rate is the ratio of price level outside or abroad and the domestic country's price level measured in domestic currency.
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53.What is the full form of FDI? (A) Foreign Direct Input (B) Foreign Direct Investment (C) Fiscal Direct Investment (D) Fiscal Direct Input
(B) [SSC CPO 2017] Exp: Foreign direct investment: FDI is an investment done by a firm in another country in the form of ownership.
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54.Foreign investment is known by which name in India? (A) SME (Small and medium-sized enterprises) (B) MDI (Management Development Institute) (C) FDI (Foreign Direct Investment) (D) CII (Confederation of Indian Industry)
(C) [SSC CPO 2017] Exp: FDI :- Foreign Direct Investment is an investment done by a firm in another country in the form of ownership.
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1.Without insurance or uncertainity problem is- (A) Fire (B) Flood (C) Change in price of product (D) Change in fashion.
(D) [S.S.C (CGL) Exam, 2014] Exp: Without insurance uncertainty is change in fashion. Because its insurance cannot be done.
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2. Verghese Kurien is related to - (A) Blue Revolution (B) White Revolution (C) Yellow Revolution (D) Green Revolution
"(B) [S.S.C Steno 2014] Exp: Verghese Kurien is known as ""Father of White revolution"" in India. White Revolution has made India the largest producer of milk in the world."
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2.Blue revolution is related to - (A) Fish production (B) Milk production (C) Oilseed production (D) Fertilizer production.
(A) [S.S.C Steno 2005] Exp: (A) List of various revolutions in India is as follows:- (1) Blue Revolution - Fish production (2) White Revolution - Milk production (3) Golden Fibre Revolution - Jute production (4) Golden Revolution - Horticulture, Honey, Fruit production (5) Silver Fibre Revolution - Cotton production (6) Grey Brown Revolution - Fertilizer, Leather, Cocoa production
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3.Blue and White Revolution is related with - (A) Fish and Fertilizer (B) Milk (C) Fish and Milk (D) Fish and Agriculture.
(C) [SSC Steno Exam, 2014] Exp: See explanation of Q. No. 3
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4.Brown Revolution is called as - (A) Fodder revolution (B) Increase in sea products (C) Increase in fertilizer produc- tion (D) Increase in milk production.
(C) [S.S.C (CPO) Exam, 2011] Exp: See explanation of Q. No. 3
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5.Golden Revolution is related with - (A) Rearing of lagoons (B) Agriculture of flowers (C) Beekeeping (D) Grapes production
(B) [S.S.C (CPO) Exam, 2011] Exp: See explanation of Q. No. 3
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6.The Economic planning is a part of- (A) Mixed Economy (B) Dual Economy (C) Socialistic Economy (D) Capitalistic Economy
(C) [SSC CGL Exam, 2012] Exp: Socialistic economic System is type of economy in which existence of social ownership and control of the means of production is done by state. So economic planning is framework of working of economy and it is done under socialistic economy.
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"7.Which three year is said as ""Planning Holiday"" for our country? (A) 1965-68 (B) 1966-69 (C) 1968-71 (D) 1969-72"
(B) [SSC Steno Exam, 2011] Exp: Plan Holiday is the time period when 5 year plan could not be implemented in 1966-69. This plan holiday was introduced due to India-Pakistan war in 1965.
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"8.""Plan Holiday"" was declared after- (A) First Five Year Plan (B) Second Five Year Plan (C) Third Five Year Plan (D) Fourth Five Year Plan"
(C) [SSC CGL 2014] Exp: Plan holiday was introduced in 1966-69 after third five year plan due to India-Pakistan war. A plan holiday is gap between five years pl
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9.Which is not correct? (A) First Five Year Plan 1951-56 (B) Second Five Year Plan 1956-61 (C) Third Five Year Plan 1961-66 (D) Fourth Five Year Plan 1966-71
(D) [SSC CPO Exam, 2008] Exp: The duration of fourth five year plan was 1969-74 due to the introduction of plan holiday in 1966-69.
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10.Which five year plan's duration was only four year? (A) Third (B) Fourth (C) Fifth (D) Seventh
(C) [SSC MTS. Exam, 2014 Exp: The duration of Fifth Five year plan (1974-78) was four years. It was terminated by Junta government and after the end of year introduced rolling plan for 1978-79.
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11.Second five year plan was based on- (A) Mohalanobis Model (B) Wakil and Brahmanand Model (C) Herald-Domar Growth model (D) Salo growth model
(A) [SSC CGL Exam, 2006] Exp:The second five year plan was based on Mahalnobis model. It was focused on industrial development of our country.
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12.Which of the following is not among the basic aims of 10th five year plan? (A) Decrease in poverty ratio. (B) Drinking water to all villages till 2012. (C) Decrease in infant mortality rate. (D) Decrease is import.
(D) [SSC CGL Exam, 2006] Exp: Twenty point program was introduced in 10th Five year plan. It includes reduction in poverty, reduction in gender gaps, reduction in infant mortality rate etc. It does not include decrease in import.
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"13.""The Social Forestry scheme"" was started in- (A) Second five year plan (B) Sixth five year plan (C) Fifth five year plan (D) Eight five year plan"
(C) [SSC CPO Exam, 2012] Exp: The fifth five year plan was focused on agricultural production social forestry Scheme was started in 1977 in fifth five year plan.
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14.Which type of product does CACP recommend minimum support price for? (A) Industrial Products (B) Agricultural products (C) Pharmaceutics Products (D) None of the above
(B) [SSC 10+2 Exam,2010 Exp: CACP The commission for Agricultural costs & prices recommends minimum support price for agricultural products MSP is the price through which farmers are given guarantee by government for their agricultural produces.
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15.In which matter green revolution has achieved maximum success? (A) Sugarcane (B) Pulses (C) Wheat (D) Rice
(C) [SSC CPO Exam, 2006 Exp: Green revolution in India was introduced to increase the agricultural productivity. The program was most successful in wheat producing areas and some success is also gained in rice.
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16.The gradation and standardization of agricultural products are conducted through - (A) Food corporation of India (B) Directorate of Marketing and Inspection (C) Indian Standards Institution (D) Central statistical organization
(B) [SSC CPO 2007, CGL 2002 Exp: The Directorate of Marketing and Inspection conducts standardisation and gradation of agricultural products, it come under Ministry of Agriculture.
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17.The Cattle rearing along with farming is called- (A) Mixed Farming (B) Mixed Agriculture (C) Dairy Farming (D) Truck Agriculture
(A) [SSC CGL Exam, 2014 Exp: Mixed farming is a type of farming in which farming is done along with cattle rearing or livestock raising.
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18.The achievement in agriculture by India has not reached upto a greater level due to- (A) Small holdings (B) Shortage of Tractors (C) Poor Farmers (D) Liberalty of People
(A) [SSC CPO Exam, 2011 Exp: Due to small land holdings in India, agriculture has not reached to greater level.
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19.In Indian Agriculture High Yielding Variety Programme was started in- (A) 1968 (B) 1967 (C) 1966 (D) 1965
(C) [SSC CPO Exam, 2011 Exp: High yielding variety programme was launched in 1966-67 to attain the self sufficiency in food grain production.
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20.The P lanning Commission of India was constituted in the year- (A) 1942 (B) 1947 (C) 1950 (D) 1955
(C) [SSC SO Exam, 2008, SSC CGL Exam, 2013, SSC CPO Exam, 2017] Exp: Planning commission was constituted in 1950 by a resolution passed by government of India. It has been replaced by NITI Ayog in 2014
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21.Which of the following plans had actual growth rate higher than the targetted growth rate? (A) Eighth Five Year Plan (B) Fourth Five Year Plan (C) Fifth Five Year Plan (D) Seventh Five Year Plan
(A) [SSC CGL Exam, 2014] Exp: In Eighth five year plan the targeted growth rate was 5.6% but it achieved the growth rate of 6.8%.
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22.IRDP was introduced during the- (A) Third Five Year Plan (B) Sixth Five Year Plan (C) Fifth Five Year Plan (D) Fourth Five Year Plan
(B) [SSC CGL April Exam, 2014] Exp: Integrated rural development programme was launched in 1978 and implemented from 1980 It aims at providing employment opportunities to rural poor.
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23.Who advocated the adoption of PURA model to eradicate rural poverty? (A) MS Swaminathan (B) Maulana Abul Kalam Azad (C) Dr APJ Abdul Kalam (D) AM Khusro
(C) [SSC FCI Exam, 2012] Exp: Provision of urban amenities to Rural areas is a model of rural development which was suggested by former president of India Dr. APJ Abdul Kalam.
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24.AGMARK is a guarantee of standard- (A) Quality (B) Quantity (C) Weight (D) Size
(A) [SSC (10+2) Exam, 2011] Exp: AGMARK is a quality certification mark for agricultural products. It is issued by Directorate of Marketing and Inspection.
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25.The food stocks that are built up during the years of bumper harvest are called- (A) Capital stock (B) Buffer stock (C) Production stock (D) Grain stock
(B) [SSC CGL, CPO, 2010, 2011] Exp: Buffer Stocks of grains are procured by government in order to meet the demand during the shortfall in production
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26.Poverty in less developed countries is largely due to- (A) Voluntary idleness (B) Income inequality (C) Lack of cultural activities (D) Lack of intelligence of the people
(B) [SSC CISF Exam, 2010] Exp: Income inequality is the major reason of poverty in less developed countries
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27.The government has renamed NREGA scheme and the name associated with the scheme is that of- (A) Rajiv Gandhi (B) Jawahar Lal Nehru (C) Mahatma Gandhi (D) Indira Gandhi
(C) [SSC DEO Exam, 2009] Exp: NREGA (National Rural Employment Guarantee Act) has been renamed as MGNREGA (Mahatma Gandhi Notional Rural Employment Guarantee Act) in 2009
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28.The nature of unemployment in agriculture in India is- (A) Only seasonal (B) Only disguised (C) All of the above (D) None of the above
(C) [SSC T. A. Exam, 2009] Exp: Unemployment in Agriculture in India is both seasonal and disguised unemployment.
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29.A situation where we have people whose level of income is not sufficient to meet the minimum consumpt ion expenditure is considered as- (A) Absolute poverty (B) Relative poverty (C) Urban poverty (D) Rural poverty
(A) [SSC T.A. Exam, 2009] Exp: Absolute poverty is defined as state of deprivation for the basic human needs which includes food, drinking water, shelter etc.
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30.Indian agriculture is typically characterised as- (A) Land surplus, Labour Scarce Economy (B) Land surplus, Labour Surplus Economy (C) Land scarce, Labour Surplus Economy (D) Land scarce, Labour Scarce Economy
(C) [SSC SO Exam, 2008] Exp: Indian agriculture typically have characterstics of unskilled labours, disguised unemployment etc. Labour surplus economy is an economy where availibitity of labour performers are in excess of labour necessary to produce goods and services land scarce because of raising population so land per person is decreasing. So Indian agriculture is typically characterised as land scarce and labour surplus economy.
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31.The commission in India dealing with minimum support price, procurement price etc, in connection with agricultural goods is the- (A) Planning Commission (B) Agricultural Costs and Prices Commission (C) Agricultural Price Commission (D) National Marketing Commission
(B) [SSC CPO Exam, 2008] Exp: The commission for agricultural costs and price recommends minimum support price for agricultural products. It was set up in 1965 and it is an attached office under Ministry of Agriculture.
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32.During which Five Year Plan India lay down objective the need to ensure environmental substain- ability of the development strategy? (A) Sixth Five Year Plan (B) Seventh Five Year Plan (C) Eighth Five Year Plan (D) Ninth Five Year Plan
(D) [SSC SO Exam, 2003] Exp: One of the objective of Ninth five year plan was to answer environmental sustainability of the developmental process.
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33.What is'AGMARK'? (A) It is a marketing seal issued on the graded agricultural commodity (B) It stands for agricultural marketing (C) It represents agricultural management and regulation (D) None of the above
(A) [SSC MTS. Exam, 2002] Exp: AGMARK is a quality certification mark for agricultural products it is issued by Directorate of Marketing and Inspection.
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34.Commercialisation of agriculture implies- (A) Cultivation of timbers (B) Plantation (C) Production of crops for sale (D) Production of crops like wheat or rice
(C) [SSC MTS. Exam, 2002] Exp: Commercialisation of agriculture refers to production of agriculture crops to sale in the market not for consumption.
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35.India's First Five Year Plan gave priority to- (A) Industry (B) Trade (C) Transportation (D) Agriculture
(D) [SSC MTS. Exam, 2002] Exp: The first five year plan was launched in 1951. The main theme of first five year plan was the growth of agricultural sector.
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36.ISI mark is not given to which of the following products? (A) Electric Goods (B) Hosiery Goods (C) Biscuits (D) Cloth
(C) [SSC MTS. Exam, 2002] Exp: ISI stands for Indian Standard Institute, a body setup to create standards and maintaining quality in Industrial Production. There are 16 broad categories including textiles, packaged water, food, automobiles components and Electronics.
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37.To achieve economic self-reliance was the main objective of which Five Year Plan? (A) First Five Year Plan (B) Second Five Year Plan (C) Third Five Year Plan (D) Fourth Five Year Plan
(D) [SSC MTS. Exam, 2001] Exp: The fourth five year plan was aimed at growth with stability and greater self reliance. In this five year plan slogan of 'Goribi Hatao' was given.
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38.Structural unemployment arises due to- (A) Deflationary conditions (B) Heavy industry bias (C) Shortage of raw materials (D) Inadequate productive capacity
(D) [SSC CGL Exam, 2000] Exp: Structural unemployment was caused due to mismatch between skills of the workers and jobs available.
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39.Which one of the following is not a necessary condition for the development of India? (A) Capital Accumulation (B) Resource discovery (C) Population growth (D) Technological development
(C) (SSC CGL Pre 1999) Exp: Population growth in India will not necessarily result in development of India. Growing population will increase the burden on available resources.
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40.The highest body which approves the Five year Plan in India is the- (A) Planning Commission (B) National Development Council (C) Finance Ministry (D) Union Cabinet
(B) (SSC Officer (Commercial Audit) 2007) Exp: Planning commission was the apex body to formulate five year plans and these five year plans were approved by National Development council. Planning commission has been replaced by NITI Aayog in 2014.
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41.In the post-independence period, economic reforms were first introduced in India under- (A) P.V. Narasimha Rao Government (1990) (B) Indira Gandhi Government (1980) (C) Rajiv Gandhi Government (1985) (D) Janata Party Government (1977)
(A) (SSC CPO S.I 2008) Exp: Economic reforms refer to the changes which deals with economic liberalization reducing various barriers. In India, economic reforms were first introduced under P.V. Narasimha Rao Government (1990).
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42.Mahalannobis Model has been associated with which five-year plan? (A) First Five-Year Plan (B) Second Five-Year Plan (C) Third Five-Year Plan (D) Fourth Five-Year Plan
(B) (SSC CGL 2011, SSC MTS 2008) Exp: The second five year plan was based an Mahalanobis Model. It was focused on industrial development of our country mainly heavy industries.
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43.In a developing country like India, in which sector a high rate of disguised unemployment exists? (A) Corporate Sector (B) House-hold Sector (C) Service Sector (D) Agricultural Sector
(D) (SSC SO Exam 2007, SSC CGL Exam 2012 & 2013) Exp: Disguised unemployment is a tyre of employment when more people are engaged in a job but it can be done by less people. In India, disguised unemployment is seen in agricultual sector.
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44.The First five year plan of the Government of India was based on- (A) Leontief input-output model (B) Harrod-Domar model (C) Mahalanobis two-sector model (D) Mahalanobis four-sector model
(B) (SSC CGL Pre 2014) Exp: First five year plan was based on Harrods-Domar model. It was mainly focused on development of primary sector.
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45.Development that meets the needs of the present, without compromising the ability of future generations to meet their own needs was the focal point of Brundtland Commission is- (A) Sustainable (B) Mitigation (C) Disaster management(D) Capacity builiding
"(A) (SSC CAPFs SI, 2014) Exp: In 1987, Brundtland Commission released a report named ""our common future"". The term sustainable development was coined in this report which means development that meets the needs of the present without compromising the ability of future generations to meet their own needs."
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46.The new Agricultural Strategy in India was introduced in- (A) 1956 (B) 1966 (C) 1976 (D) 1986
(B) (SSC CGL Pre 2013) Exp: The new agricultural strategy was introduced in India during third five year plan in 1966-67. It introduced High yield varieties seeds of wheat and rice to increase production.
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47.The second plan gave priority to- (A) Agriculture (B) Services (C) Heavy Industry (D) Foreign Trade
(C) (SSC CHSL 2014) Exp: The second five year plan was based on Mahalanobis Model. It was focused on industrial development of country mainly heavy industries
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48.Small farmers in the country have been defined as those farmers having land holding of- (A) Below one hectare (B) One to two hectare (C) Two to three hectare (D) Three to four hectare
(B) (SSC CHSL 2014) Exp: In India, Small farmers are defined as those farmers who have land holdings of less than 2 hectares.
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49.The 'Slack Season' in the Indian Economy is- (A) March-April (B) September-December (C) January-June (D) February-April
(C) (SSC CHSL 2014) Exp: 'The slack Season' in Indian economy is from January to June, due to low agricultural activities which results into low output to industries.
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50.How does agriculture promote the Indian industrial development? (A) By opening up market for industrial products (B) By providing food and clothing to labourers (C) By supplying raw materials (D) All of the given options
(D) (SSC Constable (GD) 2015) Exp: Indian agriculture forms the base for various industries by providing raw materials. It also provides basic necessities to its citizens like food, clothing etc.
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51.The slogan 'Garibi Hatao' was included in the- (A) Second paln (B) First plan (C) Fifth plan (D) Fourth plan
(C) [SSC CHSL Exam 2015, SSC SO Exam 2007, SSC TA Exam 2008] Exp: The slogan of 'Garibi Hatao' was included in fifth five year plan. It was focused on removal of poverty.
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52.The duration of the Twelfth five year plan is (A) 1 January, 2012 to 31 Decemeber, 2017 (B) 1 April, 2011 to 31 March, 2016 (C) 1 January, 2011 to 31 December, 2016 (D) 1 April, 2012 to 31 March, 2017
"(D) (SSC CAPFs SI 2015, SSC CGL 2010 & 2012) Exp: The duration of 12th five year plan is 1 April 2012 to 31 March 2017. Its main theme was ""Faster, More Inclusive and sustainable growth."
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53.In a capitalistic economy the prices are determined by: (A) Demand and Supply (B) Government Authorities (C) Buyers in the Market (D) Sellers in the Market
(A) (FCI Assistant Grade -III 2012) Exp: In capitalistic economy the prices of commodities are determined by demand and supply of commodities. In capitalist economy means of production are wholly owned by private partners.
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54.Economic development depends on- (A) Natural resources (B) Capital formation (C) Size of the market (D) All of the above
(D) (SSC MTS 2011) Exp: Economic development depends upon availability of natural resources, capital formation in economy, Size of the market, skills and abilities of human resources etc.
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55.Freeing the economy from all unneccessary controls and regulations is referred to as- (A) Freedom (B) Privatisation (C) Liberalisation (D) Globalisation
(C) (SSC CML 2002) Exp: Liberalisation refers to the elimination or reduction of unnecessary ary control and regulations in an economy.
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56.Indentify the one which is not related of the agricultural price policy- (A) Buffer stock (B) Imports (C) Support price (D) Licensing
(D) (SSC CGL 2013) Exp: Licensing is process in which permission is given to someone to use or permit to use something. It is not related to the agriculture price policy.
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57.The second Green Revolution aims at increasing agricultural output to promote- (A) Availability of easy credit to big farmers (B) Cooperative farming (C) Inclusive growth (D) Development of rural sector
(C) (SSC CGL 2011) Exp: Second green revolution term is aimed at increasing agriculture production with making agriculture more profit making profession and linking it with masses, so all this leads to inclusive growth.
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58.Which curve shows the inverse relationship between unemployment and inflation rates- (A) Supply curve (B) Indifference curve (C) IS curve (D) Phillips curve
(D) (SSC CGL 2010) Exp: Philips curve shows the inverse relationship between unemployment and inflation rate.
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59.What percentage of India's population is employed in agriculture? (A) 85% (B) 70% (C) 55% (D) 40%
(B) [SSC CHSL 2017] Exp: According the census, 2011 of India, 70% population is employed in agriculture and other related sectors.
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60.Birth rate in a country is defined as- (A) Number of births per 100 in 1 year (B) Number of births per 1000 in 1 year (C) Number of births per km of area in 1 year (D) Number of births per 100 km of area in 1 year
(B) [SSC CHSL 2017] Exp: Birth rate is total number of live birth on per 1000 population in one year.
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61.In which year, First Five Year Plan was launched in India? (A) 1921 (B) 1931 (C) 1941 (D) 1951
(D) [SSC CHSL 2017] Exp: First five year plan launched in 1951 with the objective of development of agriculture. It was based on Harrod-Domar model.
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62.Who among the following is also the Chairman of the Planning Commission? (A) Defence Minister (B) Attorney General (C) Prime Minister (D) Finance Minister
(C) [SSC CHSL 2017] Exp: Planning comission has been scrapped and replace by NITI Aayog. Ex-Officio chairman for planning comission and NITI Aayog is prime Minister.
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63.Unemployment that arises when there is a general downturn in business activity is known as (A) Structural unemployment (B) Frictional unemployment (C) Cyclical unemployment (D) Disguised unemployment
(C) [SSC CHSL 2017] Exp: Cyclic unemployment:- Unemployment that arises or reduces due to business cycles stages like expansion contraction, maturity and decline. So when there is increase or decrease in unemployment there will be downard and upward movement in business activity respectively.
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64.______ is the unemployment which exists in any economy due to people being in the process of moving from one job to another. (A) Seasonal unemployment (B) Cyclical unemployment (C) Frictional unemployment (D) Structural unemployment
(C) [SSC CHSL 2017] Exp: Frictional unemployment is type of unemployment which occurs due to gap between old work to finding new work.
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65.The unemployment created at certain times of the year, when the demand for goods and services are lower than normal, is _____. (A) Cyclical unemployment (B) Frictional unemployment (C) Seasonal unemployment (D) Structural unemployment
(C) [SSC CHSL 2017] Exp: Seasonal unemployment is type of unemployment which occurs due to change in seasons. Like season of agriculture sowing there will be less unemployment in comparision to other seasons.
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66.Full employment is the level at which there is _____. (A) No frictional unemployment (B) No cyclical unemployment (C) No structural unemployment (D) No unemployment
(D) [SSC CHSL 2017] Exp: Full employment in economics is level at which all labour force is employed efficiently and remaining unemployment of this stage is considered to be due to frictional or structural unemployment.
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67.Unemployment resulting from industrial reorganization, typically due to technological change, rather than fluctuations in supply or demand is called (A) Structural unemployment (B) Frictional unemployment (C) Seasonal unemployment (D) Cyclical unemployment
(A) [SSC CHSL 2017] Exp: Structural unemployment is unemployment situation that has arised due to change in structure. Example: shifting of office working on computer has generated structural unemployment for people who don't know to work on computer.
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68.If tea companies start using mechanised tea leave pickers- (A) More people would want to work as tea leave pickers (B) Unemployment of tea leave pickers will decrease (C) More tea will be produced per acre (D) Then wages for manual tea leave pickers will fall
(D) [SSC CHSL 2017] Exp: Using mechanised leave picker will create structural unemployment for manual leave pickers, that will automatically reduce wages for manual tea leave picker.
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69.What is the accepted average Calorie requirement for rural area in India? (A) 2100 (B) 2200 (C) 2300 (D) 2400
(D) (SSC CGL 2017) Exp: In India calorie intake is suppose to be 2400 calories in rural areas and 2100 calories in urban areas.
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70.'Neo-Malthusian Theory' is associated with which of the following? (A) Employment (B) Poverty (C) Resource scarcity (D) Income
(C) (SSC CGL 2017) Exp: Neo-Malthusian theory advocated the control of growth
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71.Which one of the following is also regarded as Disguised unemployment? (A) Underemployment (B) Frictional unemployment (C) Seasonal unemployment (D) Cyclical unemployment
(A) (SSC CGL 2017) Exp: Disguised unemployment is a type of unemployment where more workers are engaged than required for a task so disguised unemployment is also referred as underemployment.
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72.What was the main motive of Third Five Year Plan in India? (A) Rural development (B) Agriculture (C) Financial inclusion (D) Economic reform
(B) (SSC CGL 2017) Exp: Third Five year plan in India (1961-66):- With a motive of improvement in agriculture specially improvement in production of wheat.
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73.After which five year plan, 'The Rolling Plan' was implemented? (A) Third Plan (B) Fifth Plan (C) Seventh Plan (D) Ninth Plan
(B) (SSC CGL 2017) Exp: The duration of Fifth five year plan (1974-78) was four years. It was terminated by Janta government after the end of 4 years and introduced rolling plan for 1978-79.
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74.Which of the following is represented by 'Lorenz Curve'? (A) Employment (B) Inflation (C) Deflation (D) Income Distribution
(D) (SSC CGL 2017) Exp: Lorenz Curve is a graphical presentation of distribution of wealth in country. It shows income distribution in a country.
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75.What was the main objective of the 5th Five Year Plan? (A) Removal of poverty and achievement of selfreliance (B) Faster, more inclusive and sustainable growth (C) Inclusive growth (D) None of these
(A) (SSC CPO 2017) Exp: The main objective of 5th five year plan was removal of poverty and achievement of self reliance. This plan was focused to attain self reliance in agricultural production and defense.
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76.into Private and Public on what basis? (A) Ownership of enterprises (B) Usage of raw materials (C) Nature of economic activities (D) Employment policies
(A) (SSC CPO 2017) Exp: In Indian economy, the sectors can be divided on the basis of ownership of enterprises into private, public & joint sector. - Private sector:- Enterprise whose ownership is limited to private entity. - Public sector:- Enterprise whose ownership is shared between private as well as government. But majority share should be owned by the Government
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. 78. Which method is used to measure agricultural income in India? (A) Expenditure method (B) Output method (C) Commodity flow method (D) Input method
(B) (SSC CPO 2017) Exp: Output method is used to measure agricultural income in India. Output method is also called as production method. In this method, first gross value of domestic output is estimated then cost and depreciated values are deducted to get net domestic output.
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80.Establishment of Chittaranjan Locomotive took place during which Five Year Plan? (A) Second (B) Third (C) Fourth (D) First
(D) (SSC CPO 2017) Exp: First five year plan under the prime minister, Jawaharlal Nehru represented which was first focused on Harrod - Domar model. Chittranjan locomotive look place during first five year plan.
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81.Which one of the following pair is incorrect? (A) Fifth Five Year Plan - 1961-66 (B) Eight Five Year Plan - 1992-97 (C) Eleventh Five Year Plan - 2007-12 (D) First Five Year Plan - 1951-56
(A) Exp. Five year plans Years First five years plan 1951-56 Second five year plan 1956-61 Third five year plan 1961-66 Fourth five year plan 1969-74 Fifth five year plan 1974-79 Sixth five year plan 1980-85 Seventh five years plan 1985-90 Eight five years plan 1992-97 Ninth five year plan 1997-2002
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82.Which among the following is an apex institution in the sphere of Agriculture credit in India? (A) NABARD (National Bank for Agriculture and Rural Development) (B) SIDBI (Small Industries Development Bank of India. (C) EXIM Bank (D) NAFED (National Agricultural Cooperative Marketing Federation of India Ltd.)
(A)Exp. NABARD:- National bank for agriculture and rural development. NABARD's mission is to promote sustainable and equitable agricultural and rural prosperity through effective credit, support, related service, institutional development and other innovative initiatives. NABARD came into existence on 12 July 1982, an apex institution in the sphere of agriculture credit in India.
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83.Who among the following suggested the 'Rolling Plan'? (A) John W. Miller (B) D. T. Lakdawala (C) Gunnar Myrdal (D) Sukhmay Chakarborty
(C) (SSC CPO 2017) Exp: Rolling plan in backward countries was suggested by Gunner Myrdal.
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84.Why was 'Tendulkar Committee' constituted? (A) To measure unemployment (B) To measure growth rate (C) To measure poverty (D) To measure agricultural produce
(C) (SSC CPO 2017) Exp: Suresh Tendulkar committee constituted in 2005 by the planning commission for suggesting measures to calculate poverty. This committee recommended monthly expenditure as the poverty calculation model.
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85.Real estate comes under which sector? (A) Primary (B) Tertiary (C) Secondary (D) Both Secondary and Tertiary
(B) (SSC CPO 2017) Exp: Tertiary sector is that sector of economy in which no physical goods are exchanged rather here facilitations are exchanged. Tertiary sector includes Banking, Tourism, I.T., transport, real estate etc.
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86.Which Five Year Plan had a motive of 'Faster, More inclusive and Sustainable growth'? (A) Tenth (B) Twelfth (C) Seventh (D) Eleventh
"(B) Exp: Twelfth five year plan (2012-17) had an objective of ""Faster, more inclusive and sustainable growth""."
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87.The agricultural ministry has unveiled 'A.P.M.C. Act 2017' which has defined each state/UT as a ______. (A) Single unified market (B) Multiple unified markets (C) Single diversified market (D) Multiple diversified Market
(A) (SSC CPO 2017) Exp: Agricultural produce and livestocks marketing (promotion and facilitation) Act, 2017. This act defined each state/UT as a single unified market area.
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88.Who among the following gave the 'Gandhian Plan' in 1944? (A) D. D. Dhar (B) S. N. Aggarwal (C) M. N. Roy (D) J. P. Narayan
(B) (SSC CPO 2017) Exp: Gandhian plan was formulated in 1944 by Shriman Narayan Aggarwal. Gandhian plan was modest kind of plan. People's plan was given by M.N Roy.
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89.Green revolution was introduced in which Five Year Plan of India? (A) Seventh (B) Fifth (C) Second (D) Third
(D) (SSC CPO 2017) Exp: Green revolution was brought in India under M. Swami Nathan in early 1960's i.e. under Third five year plan of India.
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90.Which among the following represents plateau phase in population? (A) Birth rate and Death rate are equal (B) Birth rate and death rate are not equal (C) Birth rate is higher than death rate (D) Death rate is more than birth rate
(A) (SSC CPO 2017) Exp. Plateau phase in population is when Birth rate and death rate are equal.
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91.'Inclusive Growth' was the objective of which Five Year Plan? (A) Tenth (B) Eleventh (C) Twelfth (D) Ninth
"(B) (SSC CPO 2017) Exp: Eleventh five year plan had an objective of ""Inclusive growth""."
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92.The Green steel plants of Bhilai, Durgapur and Rourkela were established under which Five Year Plan? (A) Second (B) Fourth (C) Fifth (D) Sixth
(A) (SSC CPO 2017) Exp: Second five year plan was focused on the development of public sector and rapid industrialisation. Hydroelectric power projects and five steel plants of Bhilai, Durgapur and Rourkela were established under this five year plan.
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93.'Food For Work Programme' was introduced at time of which Five Year Plan? (A) Fifth (B) Tenth (C) Seventh (D) Ninth
(B) (SSC CPO 2017) Exp. Tenth Five Year Plan (2002-07) with a target growth of 8.1%. Food for work programme was introduced at the time of Tenth Five Year Plan.
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94._____ unemployment happens when people are not able to find jobs during some months of the year. (A) Seasonal (B) Disguised (C) Educated (D) Technical
(A) (SSC CPO 2017) Exp. Seasonal unemployment happens when people are not able to find jobs during some months or a season of the year. Example: Workers at amusement parks face seasonal unemployment during winter season.
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95.Which among the following comes under secondary sector of Indian Economy? (A) Cloth Industry (B) Transport of goods (C) Cotton production (D) Banking
(A) (SSC CPO 2017) Exp. Secondary sector of the economy is that sector which uses primary sector produce in further production. Like manufacturing, cloth, steel, Iron etc.
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96.In which year 'New Economic Policy' was announced in India? (A) 1990 (B) 1991 (C) 1992 (D) 1989
(B) (SSC CPO 2017) Exp: New Economic Policy announced in July 1991 with objectives like plunge Indian Economy into arena of Globalization, economic stabilization, high economic growth, bring down rate of inflation.
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97._____ sector is characterised by small and scattered units which are largely outside the control of the government. (A) Unorganized (B) Organised (C) Disguised (D) Seasonal
(A) (SSC CPO 2017) Exp. Unorganized sector is that sector which have several small units which are largely outside the control of government.
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98.What is Educated unemployment? (A) Kind of unemployment generally found in urban areas (B) Kind of unemployment when people are not able to find jobs during some months of the year (C) Kind of employment generally found in urban areas (D) None of these
(A) (SSC CPO 2017) Exp: Educated unemployment refers to the mismatch between educated youth and employment opportunities. This type of unemployment is generally found in urban areas.
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99._____ publishes Economic Survey in India. (A) Government of India (B) Ministry of Finance (C) NITI Aayog (D) Prime Minister of India
(B) (SSC CPO 2017) Exp: Economic Survey in India is Ministry of Finance's view towards economic development of the country.
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100.Which five year plan recognized human development as the core of all developmental efforts? (A) First Five Year Plan (B) Second Five Year Plan (C) Eighth Five Year Plan (D) Ninth Five Year Plan
(C) (SSC CPO 2017) Exp. Eighth Five Year Plan recognized human development as core of all development efforts. It was beginning of liberalization, privatization and globalization in India.
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101.What is seasonal unemployment? (A) Kind of unemployment generally found in urban areas. (B) Kind of unemployment when people are not able to find jobs during some months of the year (C) Kind of unemployment when people are able to find jobs during the year (D) None of these
(B) (SSC CPO 2017) Exp: Seasonal unemployment happens when people are not able to find jobs during some months or a season of the year. Example: Workers at amusement parks face seasonal unemployment during winter season.
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102._____ sector covers those enterprises (or) places of work where the terms of employment are regular. (A) Unorganized (B) Organised (C) Disguised (D) Seasonal
(B) (SSC CPO 2017) Exp. Organised sector is that sector of economy which include those organizations those organizations which are either registered or came under purview of relevant government rule. Organised sector covers those enterprises and places of work where the terms of employment are regular.
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1.Capital market regulator is- (A) NSE (B) RBI (C) SEBI (D) IRDA
(C) [SSC DEO, (10+2) Exam, 2012] Exp: Capital market is regulated by SEBI, Securities and Exchange Board of India. It was established on 12th April, 1992 through SEBI Act, 1992.
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2.A short-term government security paper is called- (A) Share (B) Debenture (C) Mutual Fund (D) Treasury Bill
(D) [SSC CGL Exam, 2010] Exp: Treasury bills are short term money market instruments issued by Reserve Bank of India. It can be issued for 91 day, 182 day or 364 days.
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3.In the context of the stock market, IPO stands for- (A) Immediate Payment Order (B) Internal Policy Obligation (C) Initial Public Offer (D) International Payment Obligation
(C) [SSC Investi. Exam, 2010] Exp: IPO stands for Initial Public Offering. Through IPO, shares of any company is offered to public for the first time.
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4.New capital issue is placed in- (A) Secondary market (B) Grey market (C) Primary market (D) Black market
(C) [SSC SO Exam, 2006] Exp: Primary market deals with the issue of new securities or captial. In primary market buyers and sellers transacts business directly with company without any intermediary.
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5.NIFTY is associated with- (A) Cloth Market Price Index (B) Consumer Price Index (C) BSE Index (D) NSE Index
(D) [SSC T.A. 2005] Exp: NIFTY is the index of National Stock Exchange (NSE). The stocks of top fifty companies are listed on NIFTY.
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6.Bull and Bear are related to which commercial activity? (A) Banking (B) E-commerce (C) International trade (D) Stock market
(D) [SSC SO Exam, 2005] Exp: Bull and Bear, both the terms are related to stock market. In Bull market, prices of stocks are expected to rise while in bear market prices of stocks are expected to fall in near future.
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7.Which amidst the following is not a credit rating agency? (A) CRISIL (B) CARE (C) ICRA (D) IFCI
(D) [SSC T.A. Exam, 2004] Exp: Except IFCI, all other (CRISIL, CARE, ICRA) are credit rating agency while IFCI (Industrial Finance Corporation of India) is a development financial institution of government of India.
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8.The first state owned company from India to be listed on the New York Stock Exchange is- (A) Videsh Sanchar Nigam Limited (B) Mahanagar Telephone Nigam Limited (C) Tata Iron and Steel Company (D) Wipro
(A) [SSC MTS Exam 2002, SSC CML Exam 2006] Exp: Videsh Sanchar Nigam Ltd. was the first Indian company to be listed on New York Stock Exchange. VSNL is now taken over by Tata group and known as Tata Communications.
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9.For channelising the unaccounted money for productive purposes the government introduced the scheme of- (A) Special Bearer Bonds (B) Resurgent India Bonds (C) Provident Funds (D) Market Loans
(A) [SSC MTS Exam, 2002] Exp: In 1981, the special Bearer Bonds (Immunities and Exemptions) Act was passed to Provide certain immunities to holders of special bearer bonds.
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10.A speculator who sells stocks, in order to buy back when price falls, for gain is a- (A) Bull (B) Bear (C) Boar (D) Bison
(B) [SSC MTS Exam 2002, SSC SO Exam 2005] Exp: A bear is a Speculator, who expects fall in prices of stocks in future and sells them. So that he can buy them at cheaper Prices.
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11.What is the purpose of the India Brand Equity Foundation? (A) To promote in-bound tourism (B) To make 'Made in India' a label of quality (C) To organise trade fairs (D) To provide venture capital to IT sector
(B) [SSC CGL Exam, 2003] Exp: Indian Brand Equity Foundation is established by government of India to promote awareness of made in India level in International markets.
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12.Insurance sector in India is regulated by - (A) MRBI (B) CII (C) IRDA (D) SEBI
(C) [SSC CGL 2004] Exp: The Insurance Regulatory and Development Authority of India (IRDA) is a regulatory authority for insurance sector. It was established in 1999 by an act passed by parliament of India.
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13.Short-term government securities is called - (A) Share (B) Debenture (C) Mutual Fund (D) Treasury Bill
(D) [SSC CGL 2005] Exp: Treasury bills are short term money market instruments issued by Reserve Bank of India. It can be issued for 91 day, 182 day or 364 days.
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14.A speculator who enters into a purchase transaction with a view to sell in the near future, when the price would have rised is called a- (A) Bear (B) Bull (C) Bison (D) Boar
(B) [SSC CGL 2005] Exp: A Bull is a speculator who expects rise in prices of stocks. There are four kinds of speculators operate in the stock exchange. They are bull, bear, stag and lame duck.
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15.The abbreviation 'SEBI' stands for- (A) Savings and Exchange Bank of India (B) Securities and Exchange Bank of India (C) Survey of essential business in India (D) Securities and Exchange Board of India
(D) (SSC (South Zone) 2010) Exp: SEBI abbreviation stands for Securities and Exchange Board of India. It was established in year 1988 and was given statutory power in 1992 through SEBI Act. Basic functions of SEBI are - - To Protect the interest of investors in securities - To Promote the development of and to regulate the securities market.
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16.SEBI was set up in- (A) 1992 (B) 1998 (C) 1999 (D) 1996
(A) (SSC CGL 2013) Exp: SEBI abbreviation stands for Securities and Exchange Board of India. It was established in year 1988 and was given statutory power in 1992 through SEBI Act. Basic functions of SEBI are - To Protect the interest of investors in securities To Promote the development of and to regulate the securities market
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. 17. Which is the first Indian Company to be listed in NASDAQ? (A) Reliance (B) TCS (C) HCL (D) Infosys
(D) (SSC CGL 2014) Exp: Infosys became first Indian company to be listed in NASDAQ in 1999.
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17.Liquidity Preference means (A) Holding assets in the form of bonds and shares (B) Holding assets in the form of cash (C) Creation of immovable property (D) Assets in the form of jewelery
(B) (SSC CML 2002) Exp: Liquidity preference means demand for money beacause of the preference of investors to hold liquid assets instead of long term or less liquide assets or investment.
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18.What is meant by 'Capital Gain'? (A) Part of profits added to the capital (B) Appreciation in the money value of assets (C) Additions to the capital in vested in a business (D) None of these
(B) (SSC CHSL 2014) Exp: Capital gains means increase in the value of assets. In other words capital gains is excess value or surplus value of assets from the purchase price.
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19.The business in Stock Markets and other securities markets is regulated by- (A) Securities and Exchange Board of India (B) Sole Trade and Exchange Bank of India (C) State and Exchange Bank of India (D) Stock and Exchange Bank of India
(A) (SSC CGL Exam 2004 & 2015) Exp: SEBI abbreviation stands for Securities and Exchange Board of India. It was established in year 1988 and was given statutory power in 1992 through SEBI Act. Basic functions of SEBI are - - To Protect the interest of investors in securities - To Promote the development of and to regulate the securities market.
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20.A financial instrument is called a 'primary security' if it represents the liability of: (A) Some ultimate borrower (B) The Government of India (C) A primary cooperative bank (D) A commercial bank
(A) (SSC CGL 1999) Exp: According to SIDBI, Primary security is asset created out of credit facility extended to the borrower and/or which are directly associated with the business/ Project of the borrower for which credit facility has been extended.
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21.Government securities are considered liquid because they are- (A) Backed by the Government treasury (B) Convertible into other types of saving deposits (C) Quickly and easily marketable (D) Stable in value
(C)Exp: Securities are considered to be liquid when they are readily liquidated i.e. easy conversion into useful source or acceptability. Government securities are more liquid because people believe government securities are backed by government so lesser risk in these units.
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22.Under-writing refers to- (A) under estimation (B) under selling (C) winding up the business (D) an act of insuring risk
(D) (SSC CML Pr. 2002) Exp: Underwriting is a process insuring any unit in lieu of future recievables. So underwriting refers to an act of insuring risk.
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23.Who are the creditors of a corporation? (A) Bond holders (B) Stock holders (C) Both Bond and Stock holders (D) Holders of preferred stock
(C) (SSC CPO S-I 2004) Exp: Creditors are persons who ownes money in lieu of investment in organization. So both holders (bond and stock) are creditors of a corporation.
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24.Long-term funds in the capital market can be raised either by borrowing from certain institutions or through- (A) Issue of note (B) Taking loan from Government (C) Issue of securities (D) Taking loan from foreign institutions
(C) (SSC Section Officer (Audit) 2008) Exp: In capital market long term funds can be raised through issue of securities both debt and equity.
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25.Capital market deals with- (A) Short term fund (B) Long term fund (C) Cash (D) Both long and short term funds
(B) (SSC CGL 2013) Exp: Capital markets deals with issue of securities, equity or debt instruments which are used to raise long term capital.
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26.Debenture holders of a company are its- (A) Shareholders (B) Creditiors (C) Debtors (D) Directors
(B) (SSC CHSL 2014) Exp: Debenture holder of company are its creditors whereas share holder of any company is owner of a company.
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"27.""Wall Street"" is the name of the- (A) Stock Exchange of New York (B) Indian Township in wash (C) Super market in Mumbai (D) Stock Exchange of Kolkata"
(A) (SSC CGL 2015) Exp: Wall Street is the name of the street in New York where Stock Exchange of New York is located.
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28.Securities and Exchange Board of India is a- (A) Quasi Judicial body (B) Regulatory Body (C) Advisory Body (D) Constitutional Body
(B) (SSC CGL 2015) Exp: SEBI (Security Exchange Board of India) is regulator for securities market in India established in 1988.
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29.SIDO is related to the development of- (A) Small industries (B) Steel Industry (C) Soap Industry (D) Sugar Industry
(A) (SSC CGL 2016) Exp: Small Industries Development Organization (SIDO) is responsible for the development of small industries in India.
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30.Insider trading is related to- (A) Trade sector (B) Share market (C) Credit market (D) Horse racing
(B) (SSC CGL 2016) Exp: Insider trading means trading of stocks on the basis of secretly passed information from inside the corporations whose stocks has been dealt with.
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31.Which of the following is done at a Stock Exchange? (A) Commodities are bought and sold at wholesale price (B) Commodities are bought and sold at retail price (C) Securities are bought and sold (D) None of these
(C) (SSC CGL 2016) Exp: Stock exchange is an exchange where buying and selling of stocks, bond or other securities is done.
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32.BSE SENSEX Constitutes ____ number of companies. (A) 30 (B) 40 (C) 50 (D) 60
(A) [SSC CHSL 2017] Exp: BSE SENSEX in basically a stock market where Sensex is based on market- weighted stock index of 30 blue chip companies i.e. companies which are financially sound and good performer.
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33.Banking comes under which of the following sector? (A) Primary sector (B) Secondary sector (C) Tertiary sector (D) Both Secondary and Tertiary sectors
(C) [SSC CPO 2017] Exp: Tertiary sector is that sector of economy in which no physical goods are exchanged rather here facilitations are exchanged. Tertiary sector includes Banking, Tourism, I.T, transport etc.
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34.Offloading of government shares to private companies is known as _____. (A) Investment (B) Disinvestment (C) Centralization (D) Decentralization
(B) [SSC CPO 2017] Exp: Disinvestment refers to sale of equity shares to private sector by the Government.
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35.What is the full form of NSDL? (A) National Society Development Limited (B) National Securities Depository Limited (C) National Social Development Limited (D) National Safety Development Limited
(B) [SSC CPO 2017] Exp. NSDL:- National Securities Depository Limited, the first and largest depository in India, established in August, 1996.
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36.Which among the following comes under secondary sector of Indian Economy? (A) Sugar Industry (B) Fishing (C) Insurance (D) Transport of goods
(A) [SSC CPO 2017] Exp: Secondary sector of the economy is that sector which uses primary sector produce in further production. Like manufacturing, cloth, steel, Iron, sugar industry etc.
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37.Which among the following comes under tertiary sector of Indian Economy? (A) Cloth Industry (B) Transport of goods (C) Dairy (D) Sugar Industry
(B) [SSC CPO 2017] Exp: Tertiary sector is that sector of economy in which no physical goods are exchanged rather here facilitations are exchanged. Tertiary sector includes Banking, Tourism, I.T, transport etc.
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"1.""World Bank"" is also called as - (A) International Bank for Reconstruction and Development (B) International, rehabilation and development bank (C) International rehabilated and development bank (D) None of these."
(A) [S.S.C Sect. Off. Exam, 2007] Exp: World Bank Group comprises International Bank for Reconstruction and development (IBRD), Internatioal Development Agency, International Finance Corporation, Multilateral Investment Guarantee Agency (MIGA) and International Center for settlement of Investment Disputes.
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2.World Trade Organization was established in- (A) 1991 (B) 1995 (C) 1997 (D) 1999
(B) [SSC MTS. Exam, 2008] Exp: World Trade Organization was established on 1st January 1995. It replaced General Agreement on Tariffs and Trade (GATT) which was established in 1948.
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3. WTO was earlier known as- (A) GATT (B) UNICEI (C) UNCTAD (D) FAO
(A) [SSC T.A. Exam, 2006] Exp: World Trade Organization was established on 1st January 1995. It replaced General Agreement on Tariffs and Trade (GATT) which was established in 1948.
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3.Which among of the following organization is oldest? (A) IMF (B) WHO (C) ILO (D) FAO
(C) [SSC T.A. Exam, 2007] Exp: Organization Estd. In International Labour Organization 1919 World health Organization 1948 International Monitory Fund 1945 Food & Agriculture Organization 1945
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4.TRIMs Stands for- (A) Trade Related Industrial Measures. (B) Trade Related Innovation Measures. (C) Trade Related Investment Measures. (D) Trade Related information Measures.
(C) [SSC CPO Exam, 2008] Exp: TRIMS stands for Trade Related Investment Measures.
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5.FAO means- (A) Fiber and Agricultural Organization (B) Factory Evaluation Organization (C) Free arbitration organization (D) Food and Agriculture Organization
(D) [SSC Steno. 2008] Exp: FAO stands for Food and Agriculture Organization. It is a specialised agency of United Nations that deals with international efforts to defeat hunger.
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6.GEF stands for- (A) Global Environment Fund. (B) Global Economic Fund. (C) Global Education Fund. (D) Global Energy Fund.
(A) [SSC SEC OFF Exam 2008] Exp: GEF stands for Global Environment Fund. It deals with investments in energy sector, environemental and natural resource sectors.
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7.Which of the following is related to South-South debate? (A) Cooperation between developing countries (B) Defence Organisation (C) Sitting between developed & developing countries (D) All of the above.
(A) [S.S.C (CGL) Exam, 2011] Exp: South-South debate revolves around south-south cooperation. South referred here is for the developing countries and this debate rises for showing oneness by developing countries in order to harness maximum growth.
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8.IMF was established to meet which of the following objectives? (i) Promoting International Monetary Cooperation (ii) Expending International Trade (iii)Lessening the inequlibrium in trade (iv)Avoiding competitive exchange depreciations. (A) i,ii,iii (B) i, iii, iv (C) ii, iv (D) i, ii, iii, iv
(B) [SSC CGL Exam, 2005] Exp: International monetary fund was set up to deal with post - war reconstruction, greater economic coperation it does not deals with international trade.
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9.The capital of IMF is made up by the contribution of- (A) Credit (B) Deficit Financing (C) Member Nations (D) Borrowings
(C) [SSC CGL Exam, 2008] Exp: IMF'S capital is formed by the contribution of member nations. At present IMF has 189 member countries.
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10.Which of these contries in not a permanent member of United Nations Security Council? (A) China (B) India (C) United States (D) France
(B) [SSC CHSL Exam 2017] Exp: United Nations security council is one of six principle organs of UN. Russia, United kingdom, France, Republic of China and United States are five permanent members.
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11.Special Drawing Rights were created by- (A) IBRD (B) ADB (C) IMF (D) WTO
(C) Exp: Special drawing Rights:- IMF created international reserve asset in 1969 to supplement its members countries official reserve. Its value is based on basket of five key international current-dollor, Yen, Euro, Pound, Renminbi (Chinese currency)
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12.The five permanent members of the UN security council are- (A) USA, China, France, Russia and Canada (B) China, France, Russia, UK and USA (C) Japan, Germany, Russia, UK and USA (D) Germany, China, USA. Russia and UK
(B) Exp: UN security councils is one of principle organs of UN with responsibility of maintenance of international peace and security. UN security council consist of fifteen member five being permanent member. Permeant members are Russia United Kingdom, China, United States and France.
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13.The BRICS New Development Bank (NDB) is headquartered at- (A) Shanghai (B) New Delhi (C) Brasilia (D) Moscow
(A) Exp: Headquarter of BRICS New development Bank is Shanghai based on Fortaleza declaration in 2014. SSC has opted with the option Brasilia in its official key.
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14.Human Development Index is prepared by- (A) UNDP (B) WTO (C) IMF (D) WHO
(A) Exp: HDI (Human Development Index) was developed by Pakistani Economist Mahub-ul-Haq later on it was adopted by UNDP having variables like life expectancy education and per capita income.
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15.G-20 is the Group of Twenty largest economies represented by their- (A) Prime Ministers only (B) Finance Ministers only (C) Finance Ministers and Central Bank Governors (D) Heads of States
(C) Exp: G-20 is a group of twenty governments of international forum in which parties are finance minister and central bank governors with objective of promotion of international finance stability.
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"16.Which one of the following countries is not a member of the ""BRICS"" group? (A) Brazil (B) Russia (C) China (D) Indonesia"
(D) Exp: BRICS is acronym for association of fast emerging national economies: Brazil, Russia, India, China and South Africa.
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"17.""World Economic Outlook"" report is published by which of the following? (A) IMF (B) World Bank (C) RBI (D) UNCTAD"
(A) Exp: International Monetary Fund publishes World Economic Outlook.
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18.The BRICS New Development Bank (NDB) has been set up for- (A) Funding infrastructure projects in emerging economics for sustainable development (B) Funding non infrastructure projects in emerging economics for sustainable development (C) Funding infrastructural projects in developed countries (D) Funding infrastructural projects in BRICS countries only
(A) Exp: BRICS - New Development Bank formed under Fortaleza declaration to support public or private projects through loans or any other financial institution.
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19.What does IMF stand for? (A) International Monetary Fund (B) Indian Money Fund (C) International Machine Federation (D) Institute of Monetary Finance
(A) [SSC CHSL Exam 2017] Exp: IMF stand for International Monetary Fund, originated by Bretton woods conference held in 1941, in New Hamsphire USA to regulate the international monetary & financial order.
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1.Oilseeds production Programme (OPP) was started in- (A) 1986 (B) 1987 (C) 1988 (D) 1990
(A) [SSC CGL Exam, 2014] Exp: Technology mission on oilseeds Pulses and Maize (TMOPM) launched by government in 1986 to increase prodution of oil seeds to beome self-sufficient in edible oil. The schemes implemented under TOMPM are (1) Oildseds production programme 1986 (2) National Pulses development programme 1990-1991 (3) Accelerated maize development programme 1995 - 1996 (4) Oil-Palm davelopment programme 1992
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2.Which is odd? (A) S.G.S.Y. (Swarna Jayanti Gram Swarozgar Yojana) (B) S.J.S.R.Y. (Swarna Jayanti Shahri Rozgar Yojana) (C) N.O.A.P.S. (National Old Age Pension Scheme) (D) N.R.E.G.S. (National Rural Employment Guarantee Scheme)
(C) [SSC Steno 2014 Exp: Except National old Age pension scheme all other schemes are related to employment generation
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3.Which is not the objective of Public Procurement and Distribution system followed by Indian Government? (A) Maintain price stability through creation of buffer Stock (B) Protect the interests of both consumers and poor farmers (C) Control the production of food grains (D) Reduce personal and regional inequality in the distribution
(C) (SSC Section Officer (Audit) 2008) Exp: The objectives of public procurement and distribution system include maintaining price stability through buffer stock creation protecting the interests of both consumers and poor farmers reducing personal and regional inequality in the distiribution It has nothing to do with controlling prodution of food grains.
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4.Government of India has decided to integrate_with recently launched Pradhan Mantri Krishi Sinchayee Yojana- (A) Mahatma Gandhi National Rural Employment Guaranatee Act (B) National Rural Livelihood Mission (C) Haryali (D) Accelerated Irrigation Benefit Programme
(A) (SSC CAPFs SI, 2015) Exp: Pradhan Mantri Gram Sinchayee Yojana has been integrated with Mahatama Gandhi Rural Employment Guarantee Scheme.
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5.Which one of the following is not a scheme/ project of the present Government? (A) AMRUT (B) Swachh Bharat (C) AYUSH (D) Jan Dhan Yojana
(C) Exp: Ayush denotes for Ayurveda, Yoga Unani, Siddha and Homeopathy and it was launched during UPA II government in year 2014.
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6.Which of the following programmers meet the credit needs of poor women? (A) Mahila Samriddhi Yojna (B) Rashtriya Mahila Kosh (C) Indira Mahila Yojna (D) Mahila Samakhya Programme
(B) [SSC CGL 2005] Exp: Rashtriya Mahila Kosh is a fund with an objective of providing access to learn for starting small business to low income women.
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7.HRIDAY scheme launched by Urban Development Ministry aims at- (A) Education of girl child (B) Development of smart cities (C) Urban sewage treatment (D) Development of Heritage Sites
(D) [SSC CGL 2005] Exp: HRIDAY scheme launched for development of various heritage site selected for renovation launched in 2015.
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8.The aim of Differentiated Interest Scheme was to provide concessional loans to________. (A) Weaker section of the society (B) Public Sector Industries (C) Public Limited Companies (D) Big exports
(A) [SSC CGL 2006] Exp: Differentiated Interest scheme launched in 1972 aiming to provide loans at concessional rate to marginalized and weaker sections of society.
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9.The Swarna Jayanti Shahari Rojgar Yojna (SJSRY) mainly aims at creating employment opportunities for- (A) both self employment and wage employment in urban areas (B) self employment in urban areas only (C) wage employment in urban areas only (D) None of these
(A) [SSC CGL 2006] Exp: Swarna Jayant Sahri Rojgar Yojna have two sub schemes (i) Urban self-employment programme and (ii) urban wage employment programmer.
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10.Golden Hand Shake scheme is the name of- (A) Retirement Scheme (B) Voluntary Retirement Scheme (C) One Rank One Pension Scheme (D) Private Sector Retirement Scheme
(B) [SSC CGL 2006] Exp: Golden Hand Shake scheme is the name for voluntary retirement scheme launched for the first time in 1961, basically a technique to reduce the existing strength of employees in the department.
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11.Kutir Jyoti Scheme is associated with- (A) Promoting cottage industry in (B) Promoting employment among unemployed youth (C) Providing electricity to rural families living below poverty line (D) All of these
(C) [SSC CHSL 2005] Exp: Kutir Jyoti programme launched in 1988-89 for providing single point light connection to households in rural areas living below poverty line.
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12.Swarna Jayanti Gram Swarojgar Yojna has now been restructured as- (A) Prime Minister's Rojgar Yojna (B) National Rural Livelihoods Mission (C) Jawahar Gram Samriddhi Yojana (D) Sampoorna Gramin Rojgar Yojana
(B) [SSC CHSL 2005] Exp: Swarnjayanti Gram Swarojgar Yojna: This scheme was launched with an objective of providing sustainable income to poor or marginalized in rural area. Now it is renamed as National Rural livelihood mission.
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13.'Stand up India' scheme launched by the Prime Minister recently is related with- (A) Promotion of entrepreneurship among SC, ST and Women (B) Promotion of rights of Divyangs (C) Promotion of compulsory education for women (D) Promotion of Indian exports in western countries
(A) [SSC CGL 2007] Exp: Standup India a scheme launched to support entrepreneurship among women and SC and ST communities launched in April 2016.
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"14.''Himayat"" is a training-cum placement programme for unemployed youth in the State of- (A) Haryana (B) Punjab (C) Jammu and Kashmir (D) Himachal Pradesh"
(C) Exp: Himayat is social development and employment creation programme for youths in Jammu and Kashmir with objective of creation of 1 lakh skilled youth in 5 years.
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15.Pradhan Mantri Mudra Yojana was announced under the leadership of _______. (A) Jawaharlal Nehru (B) Indira Gandhi (C) Narendra Modi (D) Manmohan Singh
(C) [SSC CHSL 2017] Exp: Pradhan Mantri Mudra Yozna announced under the leadership of Narendra Modi with an objective of loan to small and medium enterprise.
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16.Who takes the decision regarding the savings and loan activities in a Self Help Group (SHG)? (A) Private Bank (B) Reserve Bank of India (C) Members of group (D) Non Government Organizations
"(C) (SSC CGL 2017) Exp: According to government ""Self help group is small voluntary association of poor-people, preferably from same socio-economic background. They come together for the purpose of solving their common problems through self help and mutual help""."
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17.What is the name of the app launched by the Union Ministry of Power to provide real time information sharing on power supply? (A) URJAMITRA (B) BHIM (C) URJA (D) UMANG
(A) [SSC CPO 2017] Exp: URJAMITRA:- According to Ministry of Finance URJAMITRA is an initiative which provide outage management and notification platform for dissipating the outage information to power distribution consumers across India through SMS/push notification.
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18.Under 'Muktijodha Scholarship Scheme', India will give 35 crore rupees to children of freedom fighters in ______. (A) Pakistan (B) Bangladesh (C) Sri Lanka (D) Nepal
(B) [SSC CPO 2017] Exp: Muktijodha Scholarship Scheme was initiated in 2006 for descendents of 1971 freedom fighters. The children of freedom fighters in Bangladesh were given scholarship of 35 crore rupees.
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19.What is the full form of PMGSY? (A) Pradhan Mantri Greh Sadak Yojana (B) Pradhan Mantri Gaon Sadak Yojana (C) Pradhan Mantri Guarantee Sadak Yojana (D) Pradhan Mantri Gram Sadak Yojana
(D)Exp. PMGSY :- Pradhan Mantri Gram Sadak Yojna launched by Government of India to provide connectivity to unconnected habitation as part of a poverty reduction strategy.
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20.Under 'Geo Mahatma Gandhi NREGA' initiative, MNREGA has reached a milestone by Geo tagging how many assets created under it? (A) 30 lakh (B) 1 crore (C) 2.8 crore (D) 3 crore
"(B) [SSC CPO 2017] Exp: According to ministry of rural development ""Geo MGNREGA"" is a software solution to photo Geotag all completed Assets under Mahatma Gandhi by the use of space technology and to integrate the details of the wage and material into public domain to ensure transparency and accountability. Geo MGNREGA has created assets of 1 crore."
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21.What is the name of the scheme for food processing sector to be launched by The Ministry of Food Processing Industries (A) MITRA (B) URJA (C) SAMPADA (D) BHOJAN
(C) [SSC CPO 2017] Exp: SAMPADA :- Scheme for agro-marine processing and development of Agro-processing, with an objective to supplement agriculture, modernize processing and decrease agri-waste
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.1. Multinational firm is- (A) A company started by foreign governments (B) A single company established in different countries (C) A company in India started by U.S. government (D) A company started jointly by India and U.S.
(B) [S.S.C MTS. Exam, 2006, 2011] Exp: Multinational firm has its centralised office in one country and has established office in other countries as well. It is managed from its centralised office.
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0.Wh ich among the fo llowing is not the investment of goods & services? (A) Cost of machinery (B) Increase in cost of raw goods (C) Increasing department of company (D) Cost of buying house.
(C) [S.S.C (CGL) Exam, 2013] Exp: Increasing a department in any company has nothing to do with investment of goods and services.
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1.Preparing butter and ghee for household consumption of own family is a part of - (A) Household investment production (B) Industrial production (C) Consumption (D) Own Account Production
(D) [S.S.C (CGL) Exam, 2014] Exp: Preparing butter and ghee for household consumption of own family is an example of own account production. In own account production final product is kept by producers itself for their own consumption.
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2.The tree like structure of records in a database is- (A) Network Model (B) Hierarchical Model (C) Relational Model (D) Multi-Dimenmoral Model
(B) [S.S.C Steno Exam, 2011] Exp: Hierarchical structures were widely used in the early mainframe database management system, such as the Information Management System.
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3.According to Keyns, consumption function shows relation between- (A) Total Consumption and Total Population (B) Total Consumption and Normal Price Rate (C) Total Consumption and Total Income (D) Total Consumption and Rate of Interest
(C) [S.S.C (CGL) Exam, 2014] Exp: Keynesian consumption function represents the relationship between total consumption and gross national income.
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4.The interest in infrastructure is less because- (A) There is large investment in it (B) There needs a desired project (C) Time to finish the infrastructure is more (D) Profit is gained after long time
(D) [S.S.C MTS, 2006] Exp: Intrest in infrastracture is less because profit occurance or time to generate profit in infrastructure take long time.
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5.What will happen if labour productivity is increased? (A) Balanced cash wage will decrease (B) Competitive firms will be forced to invest more (C) Labour demand curve will shift towards right (D) None of the above.
(C) [S.S.C (10+2) Exam, 2014] Exp: The labour demand curve shifts when there is change in conditions of demand in job market. When Labour productivity is increased it increases production ultimately demand will increase and shifting of curve will be right side. W age rate y x L1 L3 L3 Employment
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6.Which among the following is not a positive sign for any industry? (A) Decrease in profit (B) Labour instability (C) Decrease in market (D) Decrease in demand
(A) [SSC CGL Exam, 2006] Exp: Decrease in profit is not a Positive sign for any industry.
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7.The Social Accounting system in India is classified into- (A) Assets, Liabilities and Debt Position (B) Public sector, Private Sector and Joint Sector (C) Income, Product and Expenditure (D) Enterprise, Households and Government
(C)Exp: Social accounting system in India is classified into income, product and expenditure. Social accounting system is related to effects of any organisation on society and environment.
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8.Due to worldwide great depression, 'New Deal' was declared by? (A) Abhraham Lincon (B) Benzamin Frankllin (C) J.F. Kennedy (D) Roosvelt
(D) [SSC 10+2 Exam, 2015] Exp:New Deal was introduced by then President of USA Franklin D Roosevelt in 1933 to recover from the great depresseion.
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9.The Relationship between rate of interest and consumption level was first estimated by- (A) Amartya Sen (B) Milton Freidman (C) Irwing Fischer (D) James Duezan Berry
(B) [SSC 10+2 Exam,2014] Exp: Milton Friedman was the first economist who talked about the relationship between rate of interest and consumption level. According to his theory of consumption function when the rate of intrest increase the consumption level decreases.
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10.The Views of eminent economist Robert Malthus on Population is - (A) Pessimistic (B) Optimistic (C) Both (A) and (B) (D) None of the above
(A) [SSC CPO Exam, 2009] Exp: The Population theory of Malthus has pessimistic views. According to his theory human population grows exponentially while food product grows with arithmetic rate.
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11.Who among the following promotes social justice? (A) Herald Laski (B) John Keynes (C) John Rowles (D) All of the above
(C) [SSC Multitasking Exam, 2014] Exp: John Rot Rowles promotes social Justice through his book 'Theory of Justice'
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12.Who defined 'Rent' as that portion or produce of the Earth, which is paid to the landlord for the use of original and indestructible power of the soil? (A) Ricardo (B) Marshall (C) Keynes (D) Pigou
(A) [SSC (10+2) Nov. Exam, 2014] Exp: Classical theory of rent is given by David Ricardo. According to his theory rent is a price of land. The portion of earth product which is paid to the land - lord on account of the original and indestructible powers of the soil is referred as rent.
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13.The word 'Oikonomia' means- (A) Household Management (B) Individual Management (C) Political Management (D) Fiscal Management
(A) [SSC CGL Aug Exam, 2014] Exp: Oikonomia means household management.
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14.The supply of labour in the economy depends on- (A) Population (B) National Income (C) Per Capita Income (D) Natural Resources
(A) [SSC Const. (GD) Exam, 2012] Exp: Supply of Labour in an economy depends upons its Population. Due to increase of population abundance of labour will be there in an economy.
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15.Wage Fund Theory was propounded by- (A) JB Say (B) JS Mill (C) JR Hicks (D) JM Keynes
(B) [SSC Const. (GD) Exam, 2012] Exp: Wage fund theory was profounded by JS Mill.
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16.The main feature of a capitalist economy is- (A) Administered Prices (B) Public Ownership (C) Economic Planning (D) Private Ownership
(D) [SSC Const. (GD) Exam, 2012] Exp: Private ownership is one of the main feature of capitalist economy. Capitalist economy is also known as free market economy.
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"17.""Interest is a reward for parting with liquidity"" is according to- (A) Keynes (B) Marshall (C) Haberler (D) Ohlin"
(A) [SSC T.A. Exam, 2008] Exp: JM Keynes defines rate of interest a reward for parting with liquidity. JM keynes defined investment as the construction of a new capital asset like machinery or factory building.
312
"18.Who said, ""Economics is the Science of Wealth""? (A) Robbins (B) JS Mill (C) Adam Smith (D) Keynes"
(C) [SSC MTS Exam, 2008] Exp: Adam smith defined economics as the science of wealth.
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19.Who among the following is not a classical economist? (A) David Ricardo (B) John Stuart Mill (C) Thomas Malthus (D) John Maynard Keynes
(D) [SSC T.A. Exam, 2008] Exp: JM Keynes is not a classical economist. Classical economics is a broad term that refers to the dominant economic paradigm of the 18th and 19th centuries. Other important contributors to classical economics include David Ricardo, Thomas Malthus, Anne Robert Jacques Turgot, John Stuart Mill, Jean-Baptiste Say and Eugen Böhm von Bawerk.
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"20.""The national income consists of a collection of goods and services reduced to common basis by being measured in terms of money"" who says this? (A) Samuelson (B) Kuznets (C) Hicks (D) Pigou"
"(C) [SSC CGL Exam, 2007] Exp: Hicks said "" The national income consists of a collection of goods and services reduced to common basis by being measured in term of money."
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21.Core industries are- (A) Basic Industries (B) Consumer Goods Industries (C) Capital Goods Industries (D) Government Industries
(A) [SSC MTS Exam, 2006] Exp: Core industries are defined as base industries which forms the base for all other industries. There are 8 core Industries which includes. 1. Coal 2. Crude Oil 3. The Natural Gas 4. Petroleum 5. Fertilizer 6. Steel 7. Cement 8. Electricity
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22.Which of the following does not determine supply of labour? (A) Size and age-structure of population (B) Nature of work (C) Marginal productivity of labour (D) Work-leisure ratio
(C) [SSC SO Exam, 2006] Exp: Size and age structure of population, nature of work, work- leisure ratio all are associated with supply of labour while marginal productivity of labour determines demand of labour.
317
23.An economy is in equilibrium when- (A) Planned consumption exceeds planned saving (B) Planning consumption exceeds planned investment (C) Aggregate demand equals to aggregate supply (D) Intended investment exceeds intended savings
(C) Exp: Economic equilibrium is a condition when all economic forces are balanced. A state of equlibrium in an economy is reached when aggregate demand equals aggregate supply.
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24.The labour which creates value and gets rewarded for its services is called- (A) Both Skilled and Unskilled Labour (B) Average Labour (C) Productive Labour (D) Unproductive Labour
(C) [SSC CGL April Exam, 2014] Exp: Productive labour creates value and gets rewarded for its services.
319
25.The basic infrastructure facilities in economics are known as- (A) Human Capital (B) Physical Capital (C) Social Overheads Capital (D) Working Capital
(C) [SSC SO Exam, 2003] Exp: Basic infrastructure facilities are also known as social overhead capital. Social overhead capital is investment in various social sectors like education, health, law etc.
320
26.Globalisation means- (A) Integration of economy (B) Integration of financial market (C) Integration of the domestic economy with the world economy (D) Integration of the various sectors of economy
(C) [SSC (10+2) Exam, 2011] Exp: Globlisation means integration of economies around the world. Globlalisation tends to reduce restriction on cross border trade of goods, services, resources etc.
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27.An increase in per capita income is not an indication of an increase in the economic welfare of the people- (A) When such increase is the result of an increased production of comforts (B) When such increase is the result of an increase in agricultural production (C) When it is the result of an increase in the production of industrial goods (D) When such increase is the result of increased production of intoxicants
(D) [SSC MTS Exam, 2002] Exp: Increase in per capital income is not an indication of an increase in economic welfare of people when increase is due to increased production of intoxicants. Economic welfare is increase in level of prosperity and standard of living so when production of intoxicant is done it reduces prosperity as well as standard of living.
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28.The best example of a capital intensive industry in India is- (A) Textile industry (B) Steel industry (C) Tourism industry (D) Sports goods industry
(B) [SSC (10+2) Exam, 2011] Exp: Capital intensive industries are those industries which require large sum of money to be set up.
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29.India's biggest nationalised enterprise today is- (A) The Indian Railways (B) The Indian Commercial Banking System (C) The Indian Power Sector (D) The Indian Telecommunication System
(A) [SSC SO Exam, 2007] Exp: Indian Railway is India's biggest and public enterprise.
324
30.Which organisation collects data for the unorganised sector? (A) NSSO (B) CSO (C) ASI (D) RBI
(A) [SSC CPO Exam, 2006] Exp: National Sample Survey Office conducts various surveys on various socio-economic subjects. It collects data from various sectors (both organised and unorganised sectors). It comes under the Ministry of Statistics and Programme Implementation.
325
31.Economic growth is dependent mainly on- A) Level of consumption (B) Price stability (C) Level of investment (D) Population growth
(C) [SSC Matric Level Exam, 2006] Exp: Economic growth of any economy depends on the level of investment. The higher the investment in an economy, the higher will be economic growth.
326
32.To achieve high rates of growth of national output, the economy has to- (A) Reduce the rate of growth of population (B) Borrow foreign capital (C) Step up the rate of savings (D) Increase the rate of investment and reduce the capital output ratio
(D) [SSC CPO Exam, 2003] Exp: High rates of growth of national output can be acheived through increased rate of investment and reduce capital output ratio.
327
33.The self-employed in a developing country who are engaged in small scale labour intensive work belong to the- (A) Informal Sector (B) Primary Sector (C) Secondary Sector (D) Tertiary Sector
(B) [SSC MTS. Exam, 2002] Exp: In developing countries, primary activities includes agriculture, mining, fishing etc. These activities are mainly labour intensive which involves less technology and more labour.
328
34.ICI is related with- (A) Multinational company for manufacture of chemicals (B) Indian Cannot Industry. (C) Chamber of Commerce and Industry (D) Private Sector Bank
(A) [SSC CPO Exam, 2008] Exp: Imperial Chemical Industry was a British based Multinational Company which deals with manufacturing of chemicals. It was taken over by AK20 Nobel 2008.
329
35.What is referred to as 'Depository Services'? (A) A new scheme of fixed deposits (B) A method for regulating stock exchanges (C) An agency for safe keeping of securities. (D) An advisory service to investors
(C) [SSC T. A. Exam, 2006] Exp: The main function of depository services is to keep securities safe.
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36.Long-term funds in the capital market can be raised either by borrowing from certain institutions or through- (A) Issue of note (B) Taking loan from government (C) Issue of securities (D) Taking loan from foreign institutions
(C) [SSC SO Exam, 2008] Exp: Long term funds in capital markets can be raised through borrowing or issue of securities. Long term funds are raised for investment purpose.
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37.Purchasing power parity theory is related with- (A) Interest Rate (B) Bank Rate (C) Wage Rate (D) Exchange Rate
"(D) [SSC SO Exam, 2007] Exp: Purchasing Power Parity according to IMF "" The rate at which the currency of one country would have to be converted into that of another country to buy same amount of goods and services in each country."
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38.In India, one-rupee coins, notes and subsidiary coins are issued by- (A) The Reserve Bank of India (B) The Central Government (C) The State Bank of India (D) The Unit Trust of India
(B) [SSC SO 2006] Exp: In India one- rupee coins, notes and subsidiary coins are issued by Ministry of Finance (Central government) while Reserve bank of India issues notes of all denominations.
333
39.A seller or buyer protects his business or holdings from changing prices and takes action against it. It is known as- (A) Defence (B) Betting (C) Inter-trading (D) Mortgage
(A) [SSC SO Exam, 2003] Exp: In order to protect business and holdings from changing prices, a buyer or seller adopts a strategy, which is known as defence.
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40.The Minimum Wages Act was first passed in India in the year- (A) 1947 (B) 1948 (C) 1950 (D) 1951
(B) [SSC MTS 2011, T.A. 2008] Exp: The minimum wages act was passed in 1948. It provides regulation for fixing minimum wages to be paid to workers in organised sector.
335
41.Who coined the term 'Hindu rate of growth' for Indian economy? (A) AK Sen (B) Kirit S Parikh (C) Raj Krishna (D) Montek Singh Ahluwalia
(C) [SSC SO Exam, 2008] Exp: The term Hindu rate of growth is coined by Indian economist Raj Krishna. It refers to low annual growth rate of India before 1991. At that time the growth rate was around 3.5%.
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42.Compared to the rich, the poor save- (A) A larger part of their income (B) An equal part of their income (C) A smaller part of their income (D) All of their incomes
(C)Exp: Compared to the rich, poor saves less part of their incomes. Because poors have less income and after fulfilling their basic needs, they are left with smaller part of income to save.
337
43.According to socialism who is the greatest enemy of society? (A) Personal Property (B) Capitalist Class (C) Religion (D) Cost
(A) [S.S.C (CGL) Exam, 2015] Exp: In Socialism personal property is the greatest enemy of society. It is an economic system where means of production is owned by community as whole.
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"44.""Price Index"" is measured by change in which of the following? (A) Living Standard (B) Purchasing power of money (C) Balance of Payment (D) Balance of Trade"
(B) [S.S.C Steno Exam, 2015] Exp: Price Index is a measure to show the change in value of money over certain time. Change in value of money is determined by purchasing power of money.
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45.'Gold' is mainly related to- (A) Local Market (B) National Market (C) International Market (D) Regional Market
(C) [S.S.C (CGL) Exam, 2013] Exp: Gold is mainly related to international market.
340
"46.""Barter - System"" means- (A) Exchange of goods with coins (B) Exchange of goods with goods (C) Money exchange (D) Exchange of goods with gold coins"
(B) [SSC 10+2 Exam,2015] Exp: Bartar system is used as a method of exchange in which goods and services are exchanged with other goods or services.
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47.For any product, balance of market is decided by- (A) Market supply of product (B) Various forces operating between demand and supply (C) Intervention of government (D) Market demand of product
(B) [SSC CPO Exam, 2015] Exp: Balance of market is decided by various forces operating between demand and supply.
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"48.The system of ""Memorandum of Understandings"" (MoU) was introduced in- (A) 1989-90 (B) 1990-91 (C) 1987-88 (D) 1988-89"
"(C) [SSC MTS. Exam, 2013] Exp: The system of ""Memorandum of Understandings"" was introduced in 1987 -90 on the recommendation of Arjun Sen Gupta committee."
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49.The Number of stages in trade cycle is? (A) Five (B) Six (C) Three (D) Four Recovery Boom X Y Recession Depression
(D) [SSC Steno Exam, 2012] Exp: Ist stage - Recovery, IInd stage - Boom, IIIrd stage - recession IVth state - depression
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50.Special Economic Zone (SEZ) concept was first introduced in- (A) China (B) Japan (C) India (D) Pakistan
(A) [SSC Steno. Exam, 2011] Exp: China first introduced the concept of special Economic Zone (SEZ) in 1980.
345
51.How far does the exclusive economic zone of a country extend from her coast? (A) 120 km (B) 220 km (C) 370 km (D) 420 km
(C) [SSC SO Exam, 2008] Exp: The Exclusive Economic Zone is extended upto 200 nautical miles from the coast of sea. In Exclusive Economic Zone a country has jurisdiction over the exploration and exploitation of marine resources.
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52.Where is the Indian Institute of foreign trade located? (A) New Delhi (B) Hyderabad (C) Mumbai (D) Ahmedabad
(A) [SSC SO Exam, 2008] Exp: Indian Institute of Foreign trade is situated in New Delhi. It was established in 1963 by govenrment of India. It is an autonomous business school.
347
53.The definition of 'small-scale industry' in India is based on- (A) Sales by the unit (B) Investment in machines and equipments (C) Market coverage (D) Export capacity
(B) [SSC T.A. Exam, 2007] Exp: Small - scale industry is defined on the basis of capital investment in machines and equipments. In small Scale industries capital investment cannot exceed 1 crore rupees.
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54.Industrial Exit Policy means- (A) Forcing foreign companies to leave India (B) Forcing business units to move out of congested localities (C) Allowing manufacturers to shift their line of products (D) Following business units to close down
(D) [SSC SO Exam, 2006] Exp: Industrial Exit policy is related to sick industries or loss making industries which allows these industries to shut down their business.
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"55.The ""Law of Market"" propounded by J.B. Say was not acceptable to - (A) Adam Smith (B) Marshall (C) David Recordo (D) Malthus"
(D) [SSC 10+2 Exam,2016] Exp: Law of market or Say's law is propounded by J.B. Say. It states that production is the main cause of demand.
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56.The Phillip's curve is the schedule showing the relationship between- (A) Aggregate supply and demand (B) Total saving and investment (C) The rate of unemployment and rate of inflation (D) Demand for and supply of loanable funds
(C) [SSC CGL July Exam, 2014] Exp: Phillip's curves shows relationship between rate of unemployment and rate of inflation. It states that unemployment and inflation is inversely related.
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57.Goods which are meant either for consumption or for investment are called- (A) Inferior goods (B) Intermediate goods (C) Final goods (D) Giffen goods
(C) [SSC (10+2) Exam, 2013] Exp: Final goods are those goods which can be used for consumption on investment. Final goods are not used in production of other goods.
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58.When the price of a commodity falls, we can expect- (A) The supply of it to increase (B) The demand for it to fall (C) The demand for it to stay constant (D) The demand for it to increase
(D) [SSC SAS Exam, 2010] Exp: When the price of any commdity falls, its demand will increase.
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59.A firm practising price discrimination will be- (A) Charging different prices for different qualities of a product (B) Buying in the cheapest and selling in the dearest markets (C) Charging different prices in different markets for a product (D) Buying only from firms selling in bulk at a distance
(C) [SSC CGL July Exam, 2014] Exp: Firm practising price discrimination will be charging different prices in different markets for a product i.e. dual pricing strategy.
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60.A firm is in equilibrium when its- (A) Marginal cost equals the marginal revenue (B) Total cost is minimum (C) Total revenue is maximum (D) Average revenue and marginal revenue are equal
(A) [SSC Tax Asst. Exam, 2006] Exp: A firm is in equilibrium when its marginal cost equals the margingal revenue, means when its profit maximises and losses are minumum.
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"61.""Exchange of Commodities"" between two countries means- (A) Trade surplus (B) Bilateral trade (C) Trade result (D) Multi lateral trade"
(B) [S.S.C CGL Exam, 2010] Exp: The exchange of commodities between two countries is known as bilateral trade. Bilateral trade is an aggrement which deals with reducing tariffs, import, export and trade barriers between two countries.
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62.'Hawala' is - (A) Complete description of a subject (B) Illegal trade of foreign currency (C) Tax reform (D) Illegal trade of shares
(B) [SSC 10+2 Exam, 2015] Exp: Hawla is illegal trade of currencies either foreign or domestic.
357
63.The Full form of FCCB is- (A) Foreign Currency Convertible Bonds (B) Foreign Currency Coverage Bonds (C) Foreign Company Convertible Bonds (D) None of the above
(A) [SSC CPO Exam, 2012] Exp: FCCB stands for Foreign Currency Convertible Bonds through which money is raised in form of bonds in foreign currency other than its home currency.
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64.The Centre for Agricultural Marketing is located at- (A) Jaipur (B) New Delhi (C) Nagpur (D) Hyderabad
(A) (SSC Section Officer (Audit) 2008) Exp: National Institute of Agricultural marketing is located at Jaipur. It is an autonomous body under Ministry of Agriculture. It was established in 1988.
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65.The financial capital of India is- (A) Mumbai (B) Chennai (C) Delhi (D) Chandigarh
(A) (SSC CML 2001) Exp: Mumbai is known as the financial capital of India. It is the richest city of India with highest GDP.
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66.The New Economic Policy was introduced by: (A) Lenin (B) Stalin (C) Kerensky (D) Khrushev
(A) (SSC Multi-Tasking 2013) Exp: New economic policy was introduced by Vladimir Lenin in 1921 in Russia. It was Introduced of to revive the economy after the civil war of 1918 to 1921
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"67.""Functional Finance"" is associated with: (A) Adolph Wogner (B) Adam Smith (C) Adams (D) Abba 'P' Lerner"
(D) (SSC CGL 2013) Exp: Functional finance is an economic theory propounded by Abba P. lerner. during world war - II to deal with economic insecurity through various interventions by government.
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"68.The theory of ""Maximum Social Advantage"" in Public Finance was given by- (A) Robbins (B) Musgrave (C) Findley (D) Dalton"
"(D) (SSC CHSL 2014) Exp: The theory of ""Maximum social advantage"" was introduced by British economist Hugh Dalton."
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69.What is USP in marketing field? (A) Uninterrupted power supply (B) Universal standards of productions (C) Us Programme based (D) Exclusive marketing features
(D) (SSC Section Officer (Audit) 2001) Exp: USP in marketing stands for Unique Selling Proposition. It is an exclusive marketing feature through which a company gains a unique market position.
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70.The 'sunrise industries' imply- (A) Petrochemicals oil industry (B) Sunflower oil industry (C) Computer industry (D) Chemical industry
(C) (SSC CML 2006) Exp: Sunrise industries refer to those industries which are at infant stage and grows with rapid rate. For e.g.- elecrtonics industry, telecomunication, computer indusry etc.
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71.Which country recently voted to leave the European Union (EU)? (A) Greece (B) Spain (C) United Kingdom (D) Germany
(C) (SSC CGL 2013) Exp: European Union is a political and economic group of countries located in Europe. U.K government held referendum and majority of people voted to leave EU.
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72.In which city is India's first Post Office ATM opened? (A) Chennai (B) New Delhi (C) Hyderabad (D) Mumbai
(A) (SSC CGL 2014) Exp: India's first post office ATM was opened in Chennai in the year 2014.
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73.Beginning from the Financial Year 2017-18 NITI Ayog plans to replace the 5 year plans with which of the following (A) 5 year Vision Document (B) 10 year Vision Document (C) 15 year Vision Document (D) 20 year Vision Document
(C) (SSC CGL 2014) Exp: NITI Aayog replacing planning commission along with replacement of 5 year plans to 15 year vision document.
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74.Who is the Vice Chairperson of NITI Aayog? (A) Dr. Bibek Debroy (B) Dr. V.K. Saraswat (C) Dr. Arvind Panagariya (D) Arun Jaitley
(C) (SSC CGL 2014) Exp: NITI Aayog - ex- office chairman Prime Minister and vice-chairperson - Dr. Arvind pangariya, CEO - Amitabh Kant.
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75.Which State in India has introduced FAT Tax on junk food? (A) Rajasthan (B) Kerala (C) Andhra Pradesh (D) Bihar
(B) (SSC CGL 2015) Exp: Fat tax: Kerala has introduced fat tax on junk food to reduce consumption of it. Fat tax is also referred as burger tax.
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76.Who is the Chief Economic Advisor to the Government of India? (A) Raghu Ram Rajan (B) Arvind Subramanian (C) Rajiv Mahirishi (D) Arvind Pangariya
(B) (SSC CGL 2015) Exp: Chief Economic Advisor is economic advisor to the government of India under the direct charge of Ministry of Finance. Arvind Subramanian is the current chief Economic Advisor.
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77.What is the name of portal launched by RBI recently to check illegal money collection? (A) Sahyog (B) Sahayata (C) Sampark (D) Sachet
(D) (SSC CGL 2016) Exp: Sachet portal launched by RBI in 2016 to curb illegal collection of money by companies
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. 80. The Look East Policy in India was started by which of the following Prime Ministers? (A) Rajiv Gandhi (B) Atal Bihari Vajpayee (C) P.V. Narasimha Rao (D) Manmohan Singh
(C) [SSC CHSL 2017] Exp: Look East policy in India was started during P.V. Narsimha Rao government with an objective of development process in east specially north-east.
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1.Picture of which US President is on the 5 dollar note? (A) George Washington (B) Thomas Jefferson (C) Abraham Lincoln (D) Andrew Jackson
(C) [SSC CHSL 2017] Exp: Abraham lincon's photo is on 5 dollor bill.
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2.________ recommended change in the structure and working of BCCI. (A) Lodha committee (B) Parekh committee (C) Sena committee (D) Akhil committee
(A) [SSC CHSL 2017] Exp: Lodha committee formed by the orders of SupremeCourt in January, 2015 for checking corruption and other wrong doings in cricket.
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3.ATM stands for (A) Any Time Money (B) Auto Technology Money (C) Automated Teller Machine (D) Automatic Transaction Machinery
(C) [SSC CHSL 2017] Exp: ATM stands for Automated Teller Machine.
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84. Who is the Chairman of NITI Aayog? (A) President (B) RBI Governor (C) Finance Secretary (D) Prime Minister
(D) [SSC CHSL Exam 2017, SSC CPO Exam 2017] Exp: NITI Aayog: National Institution for Transforming India formed on January 2015 and Chairman for NITI Aayog is Prime Minister.
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4.________is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in India. (A) Provident Fund (B) Life Insurance Policies (C) National Saving Certificate (D) Long term government bonds
(C) [SSC CHSL 2017] Exp: National Saving certificate are government saving bond scheme that allows subscriber to save and also can get rebate on income tax because the amount invested in these certificates are not taxed up to 1.5 Lakh.
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5.Renowned Businessmen, Mr. Deepak Parekh is primarily associated in the __________ sector. (A) Telecom (B) Aviation (C) Banking (D) Insurance
(D) [SSC CHSL 2017] Exp: Deppak Parekh is Chairman of Housing Development Finance Corporation a leading housing financial company.
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6.Name India's oldest credit information bureau. (A) RBI (B) CIBIL (C) NABARD (D) UTI
(B) [SSC CHSL 2017] Exp: CIBIL India's first credit information company founded in August 2000.
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7.Which one of the following is a component of Food Security System? (A) Buffer stock (B) Minimum support price (C) Fair price shops (D) Mid day meals
(A) (SSC CGL 2017) Exp: Buffer stock is a reserve of commodity when it is scarce. Buffer stock is component of food security system.
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8.Which amongst the following is not in the list of Maharatna? (A) Coal India Limited (B) Steel Authority of India Limited (C) Hindustan Petroleum Corporation Limited (D) Bharat Heavy Electricals Limited
(C) (SSC CGL 2017) Exp: Maharatna companies, there are 7 maharatna companies. 1. Bharat Heavy Electricals Limited 2. Coal India Limited 3. GAIL (India) Limited 4. Indian Oil Corporation Limited 5. NTPC Limited 6. Oil & Natural Gas Corporation Limited 7. Steel Authority of India Limited
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9.Courier service comes under which sector? (A) Primary (B) Secondary (C) Tertiary (D) Both Secondary and Tertiary
(C) (SSC CGL 2017) Exp: Tertiary sector is that sector of economy which include facilitation i.e. services. This sector of economy completely involve service industries. Examples of tertiary sector is transport, communication, I.T. services, couriers.
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10.Which of the following pair/pairs is/are INCORRECT? I. Golden revolution - Fruits production II. Blue revolution - Increasing production of fertilizers III. Yellow revolution - For the production of eggs (A) Only I (B) Only II (C) Both I and II (D) Both II and III
(D) (SSC CGL 2017) Exp: Revolutions in India Golden revolution — Fruits/horticulture Blue revolution — Fish production Yellow revolution — oil seeds production
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11.MTNL comes under which of the following category? (A) Navratna (B) Maharatna (C) Mini Ratna (D) None option is correct
(A) (SSC CGL 2017) Exp: There are total 16 Navratna companies. Maharatna, Navratna and Mini-Ratna is classification of public sector entreprises according to their net worth or business.
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12.How many Miniratna companies are there in Category - II? (A) 16 (B) 15 (C) 13 (D) 17
(A)Exp: Company Total Number Maharashtra company 7 Navaratna company 17 Miniratna category I 57 Miniratna category II 16
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13.What is the full form of 'CARE', the third credit rating agency in India? (A) Credit Analysis and Rating Enterprise (B) Credit Agency of Rating Equities (C) Credit Agency of Rating Enterprise (D) Credit Analysis and Research
(D) (SSC CPO 2017) Exp: 'CARE':- Credit Analysis and Research. A credit rating agency in India, started its operation in April, 1933.
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14.Under MUDRA Bank, loan ranging from Rs 50,000 to Rs 5,00,000 is categorized under _____. (A) Shishu (B) Kishor (C) Tarun (D) Atul
Ans: (B) (SSC CPO 2017) Exp: MUDRA BANK: Micro Units Development Refinance Agency to refinance financial agencies to lend money to SC/ST entrepreneurs. Three segment:- Sishu Scheme: loan upto 50,000 Kishor Scheme: loan from Rs. 50,000 to 5 lakh. Tarun Scheme: loan from 5 lakh to 10 lakh.
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15.What is current minimum saving deposit rate in India? (A) 6.00% per annum (B) 6.25% per annum (C) 4.00% per annum (D) 4.5% per annum
(C) (SSC CPO 2017) Exp: 4% per annum is current minimum saving deposit rate in India.
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16.Which city is not among the three Indian cities which will receive a grant of 3.5 million Euros from European Union and France to curb emissions? (A) Nagpur (B) Kochi (C) Ahmedabad (D) Haridwar
(D) (SSC CPO 2017) Exp: Nagpur, Kochi, and Ahmedabad are three Indian cities which receive a grant of 3.5 million Euros from European Union and France to curb emissions.
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98. How many public sector banks are there in India? (A) 10 (B) 14 (C) 22 (D) 32
(C) (SSC CPO 2017) Exp: There are 22 Public Sector banks.
