introduction to indian economy section 4 Practice Questions Answers Test with Solutions & More Shortcuts
Introduction to Indian Economy PRACTICE TEST [14 - EXERCISES]
introduction to indian economy section 1
introduction to indian economy section 2
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introduction to indian economy section 4
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introduction to indian economy section 14
Question : 26
GDP is defined as the value of all
a) goods and services in an economy in a year
b) final goods and services produced in an economy in a year.
c) final goods produced in an economy in a year
d) goods produced in an economy in a year
Answer »Answer: (b)
GDP is defined as the value of all final goods and services produced in an economy in a year.
The total quantity of goods produced in an economy during the year is multiplied by their current prices to get the GDP.
Question : 27
In India, deficit financing is used for raising resources for :
- redemption of public debt
- adjusting the balance of payments
- reducing the foreign debt
- economic development
a) None of the above
b) 2 and 3 only
c) 4 only
d) 1 and 2 only
Answer »Answer: (c)
Deficit financing is a pragmatic tool of economic development and has been used by Indian govt. to obtain necessary resources to finance the five year plans.
Question : 28 [SSC CGL 2014]
The market in which loans of money can be obtained is called
a) Institutional market
b) Reserve market
c) Money market
d) Exchange market
Answer »Answer: (c)
Money market helps in securing short-term loans to meet working capital requirements through the system of finance bills, commercial papers, etc. it plays crucial role in financing both internal as well as international trade.
Question : 29 [SSC IT 2004]
Which amidst the following is not a credit rating agency ?
a) IFCI
b) CARE
c) ICRA
d) CRISIL
Answer »Answer: (a)
A credit rating agency (CRA) is a company that assigns credit ratings for issuers of certain types of debt obligations as well as the debt instruments themselves. In some cases, the servicers of the underlying debt are also given ratings.
CRISIL is the most influential and largest credit rating agency among all the credit rating agencies in India. ICRA Limited (ICRA) is one of India’s premier financial information services companies. It offers credit rating information and professional financial consulting services across India, as well as in the Asia-Pacific region through its subsidiaries.
CARE Ratings commenced operations in April 1993 and over nearly two decades, it has established itself as the second-largest credit rating agency in India.
The government established The Industrial Finance Corporation of India (IFCI) on July 1, 1948, as the first Development Financial Institution in the country to cater to the long-term finance needs of the industrial sector.
Question : 30 [SSC GL 2012]
In a developing country like India, in which sector a high rate of disguised unemployment exists ?
a) House-hold Sector
b) Corporate Sector
c) Service Sector
d) Agricultural Sector
Answer »Answer: (d)
Agriculture sector has a high rate of disguised unemplyment. The surplus labours in agriculture sector forms ‘disguised unemployment’.
IMPORTANT indian economy mcq EXERCISES
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Introduction to Indian Economy Shortcuts »
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indian economy MCQ CATEGORIES
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» Introduction to Indian Economy
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» Planning, Economic Development & Five year Plans
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» National Income & Human Development Index
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» Agriculture Sector, Subsidy and Food Processing
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» Industries, Manufacturing & Service Sectors
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» Inclusive growth, Sustainable development and employment
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» Poverty & Unemployment
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» Introduction to Micro Economics
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» Introduction to Macro Economics
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» Macro fundamentals, GDP, Investment, Growth
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» Demand & Supply, Profit Loss, Inflation & Price Index
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» Fiscal Policy, Public Finance and Monetary Policy
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» Money Supply, Banking and Financial Institutions
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» Taxes Types, Methods & Budgeting Process
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» Banking, Security Market & Insurance
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