introduction to indian economy section 4 MCQ Questions & Answers Detailed Explanation
MOST IMPORTANT indian economy mcq - 14 EXERCISES
-
Top 500+ Basic Indian Economy GK MCQ Quiz For SSC IBPS »
-
New Indian Economy GK MCQ Quiz PDF For UPSC/IAS Prelims »
-
Basic Indian Economy Concepts MCQs Quiz For RRB NTPC Exam »
-
New 499+ Fundamentals of Indian Economy MCQ Quiz For IBPS »
-
555+ Indian Economy Concepts Basics Fundamentals MCQ Quiz »
-
Top 500+ Indian Economy GK MCQs Quiz PDF For SSC UPSC RRB »
-
New 499+ Indian Economy GK Question And Answers Quiz PDF »
-
Best 500+ Indian Economy General Knowledge MCQ Quiz PDF »
-
500+ Indian Economy General Studies Online MCQ Quiz PDF »
-
New 500+ Indian Economy Basic Static GK MCQ Quiz For IBPS »
-
500+ Introduction to Indian Economy GK MCQ Quiz For SSC »
-
800+ Latest Indian Economy GK Questions & Answers MCQ PDF »
-
1000+ Indian Economy GK Questions And Answers Quiz PDF »
-
1000+ Indian Economy Basic Concepts GK MCQ PDF For SBI PO »
The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Mica
(b) Iron ore
(c) Petroleum products
(d) Gems and jewellery
The correct answers to the above question in:
Answer: (c)
As per the Economic Survey 2011-12, Petroleum, oil and lubricants (POL) imports constituted 31.4 per cent of total imports in the first half of 2011-12 due to high prices of crude oil.
- Food and allied products comprised 3.1 per cent share;
- Fertilizers: 1.7 per cent;
- Capital Goods: 11.6 per cent;
- Chemicals: 5.1 per cent;
- Pearls, Precious Stones: 6.0 per cent;
- Gold & Silver: 13.3 per cent; and
- Electronic goods comprised a 7.2 per cent share of the total imports.
Discuss Form
Read more introduction Based Indian Economy Questions and Answers
Question : 1
Fixed Foreign Exchange Rate can be changed by
a) SEBI
b) RBI
c) Ministry of Finance
d) FIPB
Answer »Answer: (c)
The Reserve Bank of India has the responsibility of maintaining fixed exchange rates with all other member countries of the International Monetary Fund.
Besides maintaining the rate of exchange of the rupee, the Reserve Bank has to act as the custodian of India’s reserve of international currencies. It operates the exchange control system.
Question : 2
What is known as the open market operation of the RBI ?
a) Auctioning of foreign exchange
b) Buying and selling of stocks
c) Trading in securities
d) Transactions in gold
Answer »Answer: (c)
OMOs are the market operations conducted by the Reserve Bank of India by way of sale/ purchase of Government securities to/ from the market with an objective to adjust the rupee liquidity conditions in the market on a durable basis.
Question : 3
The bank cheques are processed by using
a) PMR
b) MICR
c) OMR
d) OCR
Answer »Answer: (b)
Magnetic Ink Character Recognition, or MICR, is a character-recognition technology used primarily by the banking industry to facilitate the processing of cheques and makes up the routing number and account number at the bottom of a cheque.
The technology allows computers to read the information (such as account numbers) off printed documents. Unlike barcodes or similar technologies, however, MICR codes can be easily read by humans.
MICR characters are printed in special typefaces with magnetic ink or toner, usually containing iron oxide.
Question : 4
‘Mixed economy’ refers to
a) the co-existence of public as well as private sector
b) the promotion of agriculture as well as cottage industries
c) the co-existence of rich as well as poor
d) the co-existence of heavy, small scale and cottage industries
Answer »Answer: (a)
Mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.
Question : 5
Identify the one which is not related to the Agricultural Price Policy.
a) Licensing
b) Imports
c) Support price
d) Buffer stock
Answer »Answer: (a)
Licensing is a marketing and brand extension tool that is widely used by everyone from major corporations to the smallest of small businesses.
A license may be issued by authorities, to allow an activity that would otherwise be forbidden.
Question : 6
The main effect of Direct Taxes is on
a) Consumer goods
b) Food prices
c) Capital goods
d) Income
Answer »Answer: (d)
Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity.
In general, it is a tax imposed on income as distinct from a tax imposed upon a transaction. These are largely taxes on income or wealth. Income tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax.
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
introduction to indian economy section 6
introduction to indian economy section 7
introduction to indian economy section 8
introduction to indian economy section 9
introduction to indian economy section 10
introduction to indian economy section 11
introduction to indian economy section 12
introduction to indian economy section 13
introduction to indian economy section 14
Introduction to Indian Economy Shortcuts and Techniques with Examples
Verbal Reasoning
Question & Answer Quiz
Non Verbal Reasoning
Question & Answer Quiz
Quantitative Aptitude
Question & Answer Quiz
Computer MCQ
Question & Answer Quiz
General English
Question & Answer Quiz
History GK
Question & Answer Quiz
Polity GK
Question & Answer Quiz
Geography GK
Question & Answer Quiz
Economy GK
Question & Answer Quiz
General Awareness GK
Question & Answer Quiz
Recently Added Subject & Categories For All Competitive Exams
Most Important Antonyms Vocabulary - IBPS Clerk Prelims 2024
Latest Antonyms multiple choice questions and answers with free PDFfor IBPS Clerk Prelims 2024. English Vocabulary practice exercise for all bank exam
Continue Reading »
Syllogism Practice Questions Answers PDF - IBPS Clerk 2024
Practice Verbal Reasoning Syllogism multiple choice questions and answers with Fully solved explanation, PDF for the IBPS Clerk Prelims 2024 Bank Exam
Continue Reading »
IBPS Clerk Prelims 2024 Synonyms Questions Solved Answers
Most important IBPS Clerk Prelims 2024 Synonyms and Antonyms multiple choice questions and answers with detailed solutions, English vocabulary PDF Download
Continue Reading »
New Cloze Test Questions and Answers PDF - IBPS Clerk 2024
The most important Cloze Test questions with detailed answers for upcoming IBPS Clerk prelims 2024. Latest English verbal ability practice MCQs, PDF
Continue Reading »