Practice Quiz set 2 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) When was the Mumbai Stock Exchange set up?
(a)
(b)
(c)
(d)
The Mumbai Stock Exchange, also known as Bombay Stock Exchange (BSE), was established in 1875. It claims to be Asia’s first stock exchange and the world’s fastest stock exchange, with a median trade speed of 6 microseconds.
Q-2) Consider the following statements: - Infant mortality rate takes into account the death of infants within a month after birth.
- Infant mortality rate is the number of infant deaths in a particular year per 100 live births during that year.
Which of the above statements is/are correct?
(a)
(b)
(c)
(d)
Infant mortality rate indicates the number of infant death under one years of age per 1000 live birth under one year of age.
Q-3) The problem of overpopulation can be solved by- An effective employment policy, which can absorb the growing number of workers and promote economic growth.
- An imaginative family planning programme to encourage families to adopt the small family norm.
(a)
(b)
(c)
(d)
Over population of India can be controlled by providing maximum employment and giving proper education how to control population.
Q-4) Consider the following liquid assets: - Demand deposits with the banks
- Time deposits with the banks
- Savings deposits with the banks
- Currency
The correct sequence of these decreasing orders of Liquidity is:
(a)
(b)
(c)
(d)
Currency is most liquid, because you can use it as and when you want. Time deposit with bank (e.g. fixed deposit), are least liquid compared to savings/ demand deposit with banks and currency.
Q-5) Consider the following statements relating to the estimation of National Income.
- Foreigners working in India Embassies are normal residents of India.
- Foreigners working in the office of WHO, World Bank, UNO etc, located in India are not normal residents of India.
- Indians working in foreign embassies in India are not normal residents of India.
Which of the statements given above is/are not correct?
(a)
(b)
(c)
(d)
Only statement 2 is correct.
Statements 1 & 3 are wrong.
Q-6) The national income of a country for a given period is equal to
- total value of goods and services produced by the nationals
- sum of total consumption and investment expenditure
- sum of personal income of all individuals
- money value of final goods and services produced
Which of the following code is/are correct
(a)
(b)
(c)
(d)
National Income is the money value of all the final goods and services produced by a country during a period of one year.
National Income consists of a collection of different types of goods and services of different types.
Q-7) Which of the following is apex bank for industrial loans ?
(a)
(b)
(c)
(d)
IDBI Bank Limited is an Indian financial service company headquartered in Mumbai, India. RBI categorised IDBI as an “other public sector bank”. It was established in 1964 by an Act of Parliament to provide credit and other facilities for the development of the fledgling Indian industry.
The Industrial Development Bank of India (IDBI) was established on 1 July 1964 under an Act of Parliament as a wholly-owned subsidiary of the Reserve Bank of India.
On 16 February 1976, the ownership of IDBI was transferred to the Government of India and it was made the principal financial institution for coordinating the activities of institutions engaged in financing, promoting and developing industry in the country.
Q-8) Consider the following statements:
- GDP is the total money value of all final goods and services produced within the geographical boundaries of the country during a given period of time.
- GNP refers to the money value of total output or production of final goods and services produced by the nationals of a country during a given period of time
Which among the above statements is / are correct?
(a)
(b)
(c)
(d)
In the calculation of GNP, we include the money value of goods and services produced by nationals outside the country.
Hence, income produced and received by nationals of a country within the boundaries of foreign countries should be added to the Gross Domestic Product (GDP) of the country.
Similarly, income received by foreign nationals within the boundary of the country should be excluded from GDP.
Q-9) Which of the following is/are the functions of the National Development Council of India?
- To prescribe guidelines for the preparation of the national economic plan.
- To review the working of the national economic plan from time to time.
- To consider important questions of social and economic policy affecting national development
Select the correct answer using the codes given below?
(a)
(b)
(c)
(d)
The National Development Council (NDC) or the Rashtriya Vikas Parishad is the apex body for decision making and deliberations on development matters in India, presided over by the Prime Minister.
The functions of the Council are to prescribe guidelines for the formulation of the National Plan;
- to consider the National Plan as formulated by the Planning Commission;
- to consider important questions of social and economic policy affecting national development; and
- to review the working of the Plan from time to time and to recommend such measures as are necessary for achieving the aims and targets set out in the National Plan.
Q-10) The system of “Memorandum of Understanding” (MoU) was introduced in
(a)
(b)
(c)
(d)
The System of Memorandum of Understanding was introduced in the Public Sector Enterprises during the year 1987-88 in India. It was based on the report of the Arjuna Sengupta Committee (1984).