introduction to indian economy section 7 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
introduction to indian economy section 3
introduction to indian economy section 4
introduction to indian economy section 5
introduction to indian economy section 6
introduction to indian economy section 7
introduction to indian economy section 8
introduction to indian economy section 9
introduction to indian economy section 10
introduction to indian economy section 11
introduction to indian economy section 12
introduction to indian economy section 13
introduction to indian economy section 14
Question : 2 [SSC CGL 2016]
Golden Hand Shake scheme is the name of
a) Voluntary Retirement Scheme
b) Retirement Scheme
c) One Rank One Pension Scheme
d) Private Sector Retirement Scheme
Answer »Answer: (a)
The Voluntary Severance Scheme (VSS) is popularly known as Golden Hand Shake. It is a stipulation in an employment agreement that states that the employer will provide a significant severance package if the employee loses their job.
A golden handshake is usually provided to top executives for loss of employment through layoffs, firing or even retirement.
Question : 3
Consider the following statements in regard to Headline inflation :
- It provides an accurate picture of the inflation in the country.
- It is affected by short term transitory effects on the prices of products.
a) 2 only
b) Both 1 and 2
c) 1 only
d) Neither 1 nor 2
Answer »Answer: (a)
Headline inflation also called WPI inflation is a measure of the total inflation within an economy and is affected by areas of the market which may experience sudden inflationary spikes such as food or energy.
As a result, headline inflation may not present an accurate picture of the current state of the economy as it doesn’t take account of the service sector.
Question : 4 [SSC GL 2013]
Which of the following does not form a part of the foreign exchange reserves of India ?
a) SDRs
b) Gold
c) Foreign currency assets
d) Foreign currency and securities held by the banks and corporate bodies
Answer »Answer: (d)
Foreign-exchange reserves are assets held by central banks and monetary authorities, usually in different reserve currencies, mostly the United States dollar.
However, the term in popular usage commonly also adds gold reserves, special drawing rights (SDRs), and International Monetary Fund (IMF) reserve positions.
Question : 5 [SSC CGL 2016]
Disguised unemployment in India is mainly related to
a) Rural Area
b) Agricultural sector
c) Factory sector
d) Urban Area
Answer »Answer: (b)
Disguised unemployment exists where part of the labour force is either left without work or is working in a redundant manner where worker productivity is essentially zero.
It is unemployment that does not affect aggregate output. When more people are engaged in a job than actually required, a state of disguised unemployment is created.
Disguised, or hidden, unemployment is primarily found in the agricultural and the unorganized sectors of rural India.
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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