introduction to indian economy section 3 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Auctioning of foreign exchange
(b) Buying and selling shares
(c) Trading in securities
(d) Transactions in gold
The correct answers to the above question in:
Answer: (c)
An open market operation (also known as OMO) is an activity by a central bank to buy or sell government bonds on the open market. A central bank uses them as the primary means of implementing monetary policy.
The usual aim of open market operations is to control the short term interest rate and the supply of base money in an economy and thus indirectly control the total money supply.
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Question : 1
The RBI issues currency notes under the
a) Maximum Fiduciary System
b) Fixed Fiduciary System
c) Fixed Minimum Reserve System
d) Proportional Reserve System
Answer »Answer: (c)
The Reserve Bank of India has the sole right to issue banknotes of all denominations. The distribution of one rupee notes and coins and small coins all over the country is undertaken by the Reserve Bank as an agent of the Government.
The system as it exists today is known as the minimum reserve system.
Question : 2
Golden Handshake Scheme is associated with
a) Voluntary retirement
b) Private investment in public enterprises
c) Establishing joint enterprises
d) Inviting foreign companies
Answer »Answer: (a)
A golden handshake is a clause in an executive employment contract that provides the executive with a significant severance package in the case that the executive loses his or her job through firing, restructuring, or even scheduled retirement.
This can be in the form of cash, equity, and other benefits, and is often accompanied by accelerated vesting of stock options.
Question : 3
Consider the following statements:
- The Fifth Economic Census was conducted by CSO in the year 2007.
- Intelligent Character Recognition (ICR) technology is being used for detailed processing of the data collected in the Fifth Economic Census.
a) 2 only
b) Neither 1 nor 2
c) Both 1 and 2
d) 1 only
Answer »Answer: (a)
Question : 4
SEBI was set up in
a) 1980
b) 1992
c) 1984
d) 1988
Answer »Answer: (d)
The Securities and Exchange Board of India (SEBI) was established in the year 1988 and given statutory powers on 12 April 1992 through the SEBI Act, 1992. It is the regulator for the securities market in India.
Question : 5
Which of the following is a part of tertiary sector?
a) Cultivation of crops
b) Animal Husbandry
c) Cotton manufacturing
d) Power and transportation
Answer »Answer: (d)
The service sector, also called the tertiary sector, is one of the three parts of the economy in the Threesector hypothesis. It involves the provision of services to businesses as well as final consumers.
Services may involve the transport, distribution and sale of goods from producer to consumers as may happen in wholesaling and retailing, or may involve the provision of a service, such as in pest control or entertainment.
Question : 6
Consider the following statements in regard to Gross National Product (GNP):
- Gross National Product 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.
- In the calculation of GNP, we include the money value of goods and services produced by nationals outside the country
a) 2 only
b) Neither 1 nor 2
c) 1 only
d) Both1 and 2
Answer »Answer: (d)
Gross National Product 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, generally a year.
In the calculation of GNP, we include the money value of goods and services produced by nationals outside the country.
GET Introduction to Indian Economy PRACTICE TEST EXERCISES
introduction to indian economy section 1
introduction to indian economy section 2
introduction to indian economy section 3
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introduction to indian economy section 5
introduction to indian economy section 6
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introduction to indian economy section 8
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introduction to indian economy section 12
introduction to indian economy section 13
introduction to indian economy section 14
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