introduction to indian economy section 13 Practice Questions Answers Test with Solutions & More Shortcuts

Answer: (c)

Answer: (c)

GNP is the total value of all final goods and services produced within a country in a particular year, plus income earned by its citizens (including income of those located abroad), minus income of non-residents located in that country.

GNP measures the value of goods and services that the country’s citizens produced regardless of their location.

Answer: (d)

Punjab National Bank, National Thermal Power Corporation Ltd, New Delhi, and Bharat Petroleum Corporation Ltd. were awarded the Golden Peacock Award 2002 for Excellence in Corporate Governance (GPAECG).

Golden Peacock Awards, instituted by the Institute of Directors in 1992, are now regarded as the holy grail of Corporate Excellence worldwide.

All institutions whether public, private, non-profit, government, business, manufacturing and service sector are eligible to apply.

Answer: (b)

A reserve currency (or anchor currency) is a currency that is held in significant quantities by governments and institutions as part of their foreign exchange reserves, and that is commonly used in international transactions for commodities like oil and gold.

Persons who live in a country that issues a reserve currency can purchase imports and borrow across borders more cheaply than persons in other nations because they need not exchange their currency to do so.

Answer: (c)

The Rashtriya Krishi Bima Yojna was introduced in 1999.

The scheme provides comprehensive risks insurance against yield losses viz. Drought, Hailstorm, Floods, Pests Disease etc. It is implemented by the Agriculture Insurance Corporation of India (AIC).