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
- 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
The correct answers to the above question in:
Answer: (a)
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
The Indian Economy is a
a) Socialist economy
b) Mixed economy
c) Liberal economy
d) None of the above
Answer »Answer: (b)
Question : 2
The Gandhian economy is based on the principle of
a) Trusteeship
b) State control
c) Competition
d) None of the above
Answer »Answer: (a)
Question : 3
Consider the following statements and select the correct code :
- Most of the governments run unbalanced budgets.
- In a balanced budget there could be budget surplus but no budget deficit.
a) Only 2
b) Both 1 and 2
c) Only 1
d) Neither 1 nor 2
Answer »Answer: (c)
When the total expenditures of a government is equal to the taxes and other receipts it is a balanced budget. All budgets with either deficits or surpluses are unbalanced.
Question : 4
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 : 5
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 : 6
What does the open market operations of the RBI mean?
a) Auctioning of foreign exchange
b) Buying and selling shares
c) Trading in securities
d) Transactions in gold
Answer »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.
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
introduction to indian economy section 4
introduction to indian economy section 5
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introduction to indian economy section 13
introduction to indian economy section 14
Introduction to Indian Economy Shortcuts and Techniques with Examples
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