Practice Quiz set 2 - indian economy mcq Online Quiz (set-1) For All Competitive Exams
Q-1) In which year did the Government of India Nationalised 14 major private banks?
(a)
(b)
(c)
(d)
Q-2) Paper currency was first started in India in
(a)
(b)
(c)
(d)
Q-3) The decimal system was made applicable to Indian currency system in which year?
(a)
(b)
(c)
(d)
Q-4) Consider the following statement:- Bombay Stock Exchange (BSE) is India’s oldest stock exchange
- It formally came into being in 1888
- It was a regional exchange till 2002 when it became a national exchange
Choose the incorrect statement regarding BSE.
(a)
(b)
(c)
(d)
Bombay Stock Exchange (BSE) India’s oldest stock exchange formally came into being in 1887 and was a regional exchange till 2002 when it became a national exchange.
Q-5) Why is the offering of ‘teaser loans’ by commercial banks is a cause of economic concern? - The ‘teaser loans’ are considered to be an aspect of sub-prime lending and banks may be exposed to the risk of defaulters in future.
- In India, the ‘teaser loans’ are mostly given to entrepreneurs to set-up manufacturing or export units.
Which of the statement(s) given above is/are correct?
(a)
(b)
(c)
(d)
Q-6) In India, rural incomes are generally lower than the urban incomes. Which of the following reasons account for this? - A large number of farmers are illiterate and know little about scientific agriculture.
- Prices of primary products are lower than those of manufactured products.
- Investments in agriculture has been low when compared to investment in industry.
(a)
(b)
(c)
(d)
Q-7) Consider the following actions which the government can take- Devaluing the domestic currency.
- Reduction in the export subsidy.
- Adopting suitable policies which attract greater FDI and more funds from FIIS.
Which of the above action/actions can help in reducing the current accounts deficit?
(a)
(b)
(c)
(d)
Q-8) Consider the following steps:- Banking Department gets currency from the Issue Department
- Government puts the currency in circulation
- Central Government incurs a deficit in its Budget
- Government Sells Treasury Bills to Banking Department of RBI
Which among the following is the correct order of the above steps?
(a)
(b)
(c)
(d)
Q-9) Devaluation makes import
(a)
(b)
(c)
(d)
Devaluation makes import expensive and discourages it, while the export of a country that devalues becomes cheaper and thereby induces trade partners to import more goods from her.
Nations that produce industrial goods on a large scale stand to benefit from devaluation.
Q-10) The sum of which of the following constitutes Broad Money in India? - Currency with public
- Demand deposits with banks
- Time deposits with banks
- Other deposits with RBI
Choose the correct answer using the codes given below.
(a)
(b)
(c)
(d)