money supply, banking & financial institutions section 4 MCQ Questions & Answers Detailed Explanation
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The following question based on Money Supply, Banking and Financial Institutions topic of indian economy mcq
(a) The amount paid back by banks to their customers when they use debit cards for financial transactions for purchasing goods or services
(b) The incentive given by the Government to merchants for promoting digital payments by their customers through Point of Sale (PoS) machines and debit cards
(c) The charge to a merchant by a bank for accepting payments from his customers through the bank’s debit cards
(d) The incentive given by a bank to a merchant for accepting payments through debit cards pertaining to that bank
The correct answers to the above question in:
Answer: (c)
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Read more money and supply banking financial institutions Based Indian Economy Questions and Answers
Question : 1
What is the difference between Inflation and Deflation?
- Inflation is an increase in the price of goods while Deflation is that state in which the value of money rises and the price of goods and services falls.
- Deflation is an increase in the price of goods while Inflation is that state in which the value of money rises and the price of goods and services falls.
- Inflation is a state in which the value of money rises and the price of goods and services falls while deflation is an increase in the price of goods.
a) 2 only
b) 1 only
c) 3 only
d) 1, 2, 3
Answer »Answer: (b)
Inflation is an increase in the price of goods while Deflation is that state in which the value of money rises and the price of goods and services falls.
Question : 2
What are the measures of checking deflation?
- Increasing money supply
- Promote credit creation by the banks.
- Curtailment in taxes so as to increase the purchasing power of the people.
a) 2 only
b) 1 only
c) 3 only
d) 1, 2, 3
Answer »Answer: (d)
Measures of checking deflation are:
- Increasing money supply.
- Promoting credit creation by the banks.
- Curtailment in taxes so as to increase the purchasing power of the people.
- Increasing the public expenditure and the employment opportunities in the economy.
- Increasing the money supply in circulation by repayment of old public debts.
- Providing economic subsidy by the Government to the industrial sector of the econ.
Question : 3
Consider the following statements:
- not all banks come under the regulation of the Right to Information Act
- not all banks come under Schedule 2 of RBI
a) Only 2 is correct
b) Only 1 is correct
c) Both 1 and 2 are correct
d) Neither 1 nor 2 is correct
Answer »Answer: (c)
Question : 4
Which of the following brings out the ‘Consumer Price Index Number’ for Industrial workers?
a) Commerce Department
b) NITI Aayog
c) RBI
d) The Labour Bureau
Answer »Answer: (d)
The Consumer Price Index Numbers for Industrial Workers CPI (IW) are being compiled, maintained and disseminated by the Labour Bureau since its inception in October 1946.
These index numbers are being utilized for fixation and revision of wages and determination of variable Dearness Allowances payable to workers in organized sectors of the economy. These index numbers are compiled by the Bureau on a month to month basis.
Question : 5
Which of the following is/are treated as artificial currency?
a) SDR
b) Both ADR and GDR
c) GDR
d) ADR
Answer »Answer: (a)
GET Money Supply, Banking and Financial Institutions PRACTICE TEST EXERCISES
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