Indian Economy Quiz Set 1

Indian Economy Set 1

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Question 1

Poverty Gap Index measures:

A	The proportion of poor in the total population
B	The intensity of poverty
C	Increase in poverty rate
D	Mean consumption expenditure of poor

Question 2

Which bank is limited to the needs of agriculture and rural finance?

A	RBI
B	SBI
C	IFC
D	NABARD

Question 3

Inflation can be correctly described as:

A	Too much money chasing too few goods
B	Too much goods chasing too few money
C	Rise in retail price level of goods and services
D	None of these

Question 4

Inflation causes a decrease in the value of money. What is this effect called?

A	Borrower’s tax
B	Cash tax
C	Inflation tax
D	Lender’s tax

Question 5

Perspective planning means:

Plan with long term perspective for 15-20 years
Five year plans are part of perspective planning

Which of these statements is/are correct?

A	1 only
B	2 only
C	Both 1 & 2
D	Neither 1 nor 2

Question 6

The Atomic Energy Commission of India was established during the plan:

A	First FYP
B	Second FYP
C	Third FYP
D	Fourth FYP

Question 7

Which of these pairs is not matched correctly:

A	VAT – France
B	Carbon Tax – New Zealand
C	Fat tax – Belgium
D	Salt tax – China

Question 8

What situation would result if Government expenditure exceeds the Government revenue on Current Account?

A	Deficit budgeting
B	Zero-based budgeting
C	Performance-based budgeting
D	Surplus budgeting

Question 9

The 12th Five Year Plan aimed at:

A	Growth with social justice and equality
B	Human Resource Development
C	Faster and more sustainable growth
D	Faster, sustainable and more inclusive growth

Question 10

Who among the following are the members of NDC?

Chief Ministers of all states
Chief minister/Administrators of all UTs
Union Cabinet Ministers
Members of Planning Commission

Select the correct answer using the codes below:

A	1 & 4 only
B	1,3 & 4 only
C	3 & 4
D	1, 2, 3 & 4

Question 11

Which of the following is a defunct stock exchange in India?

A	Magadh Stock Exchange Ltd.
B	Calcutta Stock Exchange Ltd.
C	Ahmedabad Stock Exchange Ltd.
D	Cochin Stock Exchange Ltd

Question 12

The first mutual fund in India:

A	SBI Mutual Fund
B	Unit Trust of India
C	Birla Sun Life Asset Management Company
D	J P Morgan Asset Management Company

Question 13

Consider the following statements:

Prathma bank is the first regional rural bank started in India in 1975.
Prathma bank was sponsored by Canara bank

Which of these statements is/are correct?

A	1 only
B	2 only
C	Both 1 & 2
D	Neither 1 nor 2

Question 14

The first Chief Information Commissioner in Kerala

A	S.P.Sinha
B	K.S.Ranjith Singh
C	C.N.Annadurai
D	Palattu Mohandas

Question 15

Under the minimum reserve system, the Reserve Bank of India as the sole authority of note issue is required to maintain assets worth not less than

A	115 crores of rupees
B	85 crores of rupees
C	200 crores of rupees
D	210 crores of rupees

Question 16

Population experts refer to the possible ‘demographic bonus’ that may accrue to India around 2016 A.D. They are referring to the phenomenon of

A	a sharp drop in the total population
B	a surge in the population in the productive age group;
C	a decline in both birth and death rates;
D	a well-balanced sex ratio