introduction to indian economy section 7 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Voluntary Retirement Scheme
(b) Retirement Scheme
(c) One Rank One Pension Scheme
(d) Private Sector Retirement Scheme
The correct answers to the above question in:
Answer: (a)
The Voluntary Severance Scheme (VSS) is popularly known as Golden Hand Shake. It is a stipulation in an employment agreement that states that the employer will provide a significant severance package if the employee loses their job.
A golden handshake is usually provided to top executives for loss of employment through layoffs, firing or even retirement.
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Question : 1
Consider the following statements in regard to Headline inflation :
- It provides an accurate picture of the inflation in the country.
- It is affected by short term transitory effects on the prices of products.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (a)
Headline inflation also called WPI inflation is a measure of the total inflation within an economy and is affected by areas of the market which may experience sudden inflationary spikes such as food or energy.
As a result, headline inflation may not present an accurate picture of the current state of the economy as it doesn’t take account of the service sector.
Question : 2
Which of the following does not form a part of the foreign exchange reserves of India ?
a) SDRs
b) Gold
c) Foreign currency assets
d) Foreign currency and securities held by the banks and corporate bodies
Answer »Answer: (d)
Foreign-exchange reserves are assets held by central banks and monetary authorities, usually in different reserve currencies, mostly the United States dollar.
However, the term in popular usage commonly also adds gold reserves, special drawing rights (SDRs), and International Monetary Fund (IMF) reserve positions.
Question : 3
Disguised unemployment in India is mainly related to
a) Rural Area
b) Agricultural sector
c) Factory sector
d) Urban Area
Answer »Answer: (b)
Disguised unemployment exists where part of the labour force is either left without work or is working in a redundant manner where worker productivity is essentially zero.
It is unemployment that does not affect aggregate output. When more people are engaged in a job than actually required, a state of disguised unemployment is created.
Disguised, or hidden, unemployment is primarily found in the agricultural and the unorganized sectors of rural India.
Question : 4
Who among the following has suggested migration to accrual accounting system from cash based accounting system in India?
a) D.N. Ghosh
b) C. Rangarajan
c) R.H. Patil
d) I.V. Reddy
Answer »Answer: (a)
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
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