introduction to indian economy section 2 MCQ Questions & Answers Detailed Explanation
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The following question based on Introduction to Indian Economy topic of indian economy mcq
(a) an increase in saving
(b) an increase in consumption
(c) an increase in investment
(d) a decrease in saving
The correct answers to the above question in:
Answer: (b)
The effect of a government surplus upon the equilibrium level of NNP (Net National Product) is substantially the same as an increase in consumption.
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Read more introduction Based Indian Economy Questions and Answers
Question : 1
Consider the following statements:
- Infant mortality rate takes into account the death of infants within a month after birth.
- Infant mortality rate is the number of infant deaths in a particular year per 100 live births during that year.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (d)
Infant mortality rate indicates the number of infant death under one years of age per 1000 live birth under one year of age.
Question : 2
The banks are required to maintain a certain ratio between their cash in the hand and total assets. This is called :
- Statutory Bank Ratio (SBR)
- Statutory Liquid Ratio (SLR)
- Central Bank Reserve (CBR)
- Central Liquid Reserve (CLR)
a) All of the above
b) 1 and 4 only
c) 2 and 3 only
d) 2 only
Answer »Answer: (d)
Banks are required to invest a portion of their statutory liquidity ratio besides CRR.
Statutory liquidity ratio (SLR) is the Indian government term for reserve requirement that the commercial banks in India require to maintain in the form of gold, cash or government-approved securities before providing credit to the customers.
SLR is determined and maintained by the Reserve Bank of India in order to control the expansion of bank credit.
Question : 3
The problem of overpopulation can be solved by
- An effective employment policy, which can absorb the growing number of workers and promote economic growth.
- An imaginative family planning programme to encourage families to adopt the small family norm.
a) 2 only
b) 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (b)
Over population of India can be controlled by providing maximum employment and giving proper education how to control population.
Question : 4
Among Indian economists, who had done pioneering work on National Income?
a) Prof. Shenoi
b) Jagdish Bhagwati
c) V. K. R. V Rao
d) P. N Dhar
Answer »Answer: (c)
The first person to adopt a scientific procedure in estimating the national income was Dr. VKRV Rao in 1931.
Question : 5
The symbol of Reserve Bank of India is
a) Kuber with a purse of money
b) Capitol of Asokan Pillar
c) Tiger before a Palm tree
d) A dog sitting in a defensive state
Answer »Answer: (c)
The logo of the Reserve Bank of India comprises a tiger walking underneath a palm tree.
It is contended that the Reserve Bank of India copied the tiger and palm tree symbol from the gold Mohur issued by the East India Company in the 19th century.
The double Mohur of William IV had a nice reverse, which was a symbol of a Lion and a Palm tree. When RBI was created, it was decided that the reverse of Double Mohur, the Lion and Palm design should be used as the emblem of RBI.
The last-minute modification was made introducing Tiger instead of Lion.
Question : 6
The profits of Indian–banks operating in foreign countries are a part of
a) domestic factor income of India
b) income from entrepreneurship earned from abroad
c) profits of the enterprises working in domestic territory of India
d) operating surplus of the banks located in India
Answer »Answer: (b)
Net Factor Income from Abroad (NFIA) refers to income generated by nationals abroad in the form of wages, salaries, rent, interest, dividend and profit.
It has the following three components:
- Net compensation of employees;
- Net income from property i.e., rent, interest and income from entrepreneurship (that is, profits and dividends); and
- Net retained earnings of the resident companies working in foreign countries.
Profits earned by Indian banks functioning abroad come under ‘income from entrepreneurship.’
GET Introduction to Indian Economy PRACTICE TEST EXERCISES
introduction to indian economy section 1
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introduction to indian economy section 4
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introduction to indian economy section 14
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