introduction to indian economy section 10 Practice Questions Answers Test with Solutions & More Shortcuts

Question : 36 [SSC CHSL 2014]

The ‘Slack Season’ in the Indian Economy is

a) September-December

b) March-April

c) January-June

d) February-April

Answer: (c)

July–December corresponds to the main agricultural season in India, while January–June is a relatively ‘slack’ season.

Since more than 50% of India’s workforce is engaged in agriculture sector, the slackness of this sector imparts sluggishness to the entire economy.

Question : 37

Which Indian got Nobel Prize for Economics?

a) C.V. Raman

b) Amartya Sen

c) Teressa

d) Khorana

Answer: (b)

Question : 38 [SSC LDEO 2012]

Who amongst the following has never been the Governor of Reserve Bank of India ?

a) C. Rangarajan

b) D. Subbarao

c) B.B. Bhattacharya

d) Y.V. Reddy

Answer: (c)

D Subbarao - 05.09.2008– Till date

C Rangarajan - 22.12.1992 – 22.11.1997

Y.V. Reddy - 05.09.2003 – 04.09.2008

Question : 39

The banks are required to maintain a certain ratio between their cash in hand and total assets. This is called

a) Statutory Liquid Ratio (SLR)

b) Central Liquid Reserve (CLR)

c) Central Bank Reserve (CBR)

d) Statutory Bank Ratio (SBR)

Answer: (a)

Question : 40 [SSC CHSL 2014]

Which is not a measure undertaken by government to check inflation ?

a) Increase in production

b) Increase in consumption

c) Reduction in Deficit financing

d) Taxation measures

Answer: (b)

One of the important fiscal measures undertaken by governments to check inflation is to cut personal consumption expenditure. It is done by raising the rates of personal, corporate and commodity taxes and even levying new taxes.

The government can also reduce unnecessary expenditure on non-development activities in order to curb inflation.

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