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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) Pegged down exchange rate
(b) Floating exchange rate
(c) Pegged up exchange rate
(d) Fixed exchange rate
The correct answers to the above question in:
Answer: (b)
The exchange rate can be defined as the value of one currency in terms of another. India follows a floating exchange rate system for the determination of the exchange rate.
A floating exchange rate system can be defined as a system where the exchange rate between currencies is not fixed but keep fluctuating, as they are determined by the demand and supply for the domestic currency in the international market.
India has been operating on a managed floating exchange rate regime since March 1993, marking the start of an era of a market-determined exchange rate regime of the rupee with provision for timely intervention by the central bank.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Antyodaya Programme is associated with :
a) bringing up cultural revolution in India
b) liberation of bonded labour
c) demands of textile labourers
d) upliftment of the poorest of the poor
Answer »Answer: (d)
Antyodaya Anna Yojana (AAY) is a centrally sponsored scheme that was launched on December 25, 2000, for one crore of the poorest families. It is an important milestone in providing foodgrains to the poor.
It contemplated providing 25 kg. of foodgrains per month at highly subsidized rates of Rs.2 per kg. for wheat and Rs.3 per kg. for rice to each Antyodaya family.
This scheme reflects the commitment of the Government of India to ensure food security for all, create a hunger-free India in the next five years and reform and improve the Public Distribution System so as to serve the poorest of the poor in rural and urban areas.
Question : 2
Which State in India has introduced FAT Tax on junk food
a) Kerala
b) Rajasthan
c) Andhra Pradesh
d) Bihar
Answer »Answer: (a)
In a first-of-its-kind move in the country, Kerala, in July 2016, introduced a ‘fat tax’ on the consumption of junk food items like pizzas and burgers sold through branded restaurants.
The state government imposed a 14.5% tax on branded restaurants selling items like tacos, pizzas, burgers, sandwiches, among others.
Question : 3
‘Basel III’ norms target at which of the following?
- Improve the banking sector’s ability to absorb shocks arising from financial and economic stress.
- Improve risk management and governance.
- Strengthen banks’ transparency.
a) 1 and 2 only
b) 1 and 3 only
c) 1 only
d) 1, 2 and 3
Answer »Answer: (d)
Basel III (or the Third Basel Accord) is a global, voluntary regulatory standard on bank capital adequacy, stress testing and market liquidity risk.
So all the given statements are correct.
Question : 4
National Income is defined as:
- It is the total amount of money government earns through direct tax collection.
- It measures the flow of goods and services in an economy
- It is the total value of stocks held by a country at a particular point of time
a) 2 only
b) 1 and 2
c) 1 only
d) 3 only
Answer »Answer: (a)
National income measures the net value of goods and services produced in a country during a year and it also includes net earned foreign income.
Question : 5
The main source of National income in India is
a) agriculture
b) trade sector
c) industrial sector
d) service sector
Answer »Answer: (d)
The service sector is one of the three economic sectors. it includes:
- telecommunication,
- hospitality industry/tourism,
- mass media,
- healthcare/ hospitals,
- information technology,
- banking,
- insurance,
- investment management,
- accountancy,
- legal services,
- consulting,
- retail sales,
- real estate,
- education.
The maximum contribution to national income comes from the service sector which contributes around 60%.
Question : 6
Which of the following is associated with fiscal policy?
a) Taxation
b) Consumption
c) Inflation
d) Money supply
Answer »Answer: (b)
Fiscal policy is the use of government revenue collection (taxation) and expenditure (spending) to influence the economy.
The two main instruments of fiscal policy are changes in the level and composition of taxation and government spending in various sectors.
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 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
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