ECONOMICS--ONE

Note: If none of the answers is correct then mark E (None of these) as your answer. 1. Indravati Hydroelectric Project is the multipurpose project of --a. Maharashtra State b. Gujarat State c. Orissa State d. Tamil Nadu 2. What is a limited company? a. In which shareholders possess the ownership limited to their paid up capital b. In which shares are not issued c. A company of Government ownership d. A Registered company 3. Who gains in inflation? a. Saver b. Creditor c. Debtor d. Pension holder 4. Open market operation is a part of --a. Income Policy b. Fiscal Policy c. Credit Policy d. Labour Policy

5. CRISIL --a. Evaluates the credit documents of a company b. Provides financial assistance to industries c. Provides finances for rural areas d. Promotes exports 6. Which among the following states is a leading industrialized state? a. West Bengal b. Orissa c. Maharashtra d. Madhya Pradesh 7. On the recommendation of Jankiraman Committee, a committee was constituted for improving transaction method of public sector bonds and mutual funds. This committee was --a. Nadkarni committee b. Nayak committee c. Goiporia committee d. Tikku committee 8. GIC includes various insurance companies. This number is --a. 2 b. 3 c. 4 d. 5

9. LIC of India was established in a. 1897 b. 1950

c. 1956

d. 1965

10. Consumer Protection Act (COPRA) was implemented in --a. 1985 b. 1986 c. 1987 d. 1988

11. Which direct tax gives maximum net revenue to the Government --a. Corporate Tax b. Income Tax c. Wealth Tax d. Gift Tax

12. The main food grains of India is a. Rice b. Wheat c. Sugarcane d. Maize 13. Which rank India attains in tobacco production in the world? a. First b. Second c. Sixth d. Fourth 14. Scheduled Bank is that bank which is --a. Nationalized b. Not nationalized c. Based at foreign country d. Included in the second schedule of RBI 15. Match the following --Unit I a. Aqua culture b. Floriculture c. Seri culture d. Viti culture a. b. a. 4 3 b. 3 4 c. 3 4 d. 4 3

Unit II 1. Silk 2. Grapes 3. Flower 4. Fisheries c. d. 2 1 1 2 2 1 1 2

16. Which state has the lowest women literary rate in India (2011 census)? a. Bihar b. Jharkhand c. U.P. d. Rajasthan 17. Which country is the largest oil producing country of the world? a. Saudi Arabia b. Russia c. America d. None of these 18. The ownership right of a company remains --a. With company Directors b. With equity shareholders c. With debenture holders d. With the government

19. TRIPS Trade Related Intellectual Property Rights and TRIMS Trade Related Investment Measures are associated with --a. Preston Proposal b. Dunkel Proposal c. Chelliah Committee d. None of these 20. Which is true for Finance Commission? a. It is a statutory body b. It is constituted under article 280 of the constitution th c. Mr. K.C. Pant was Chairman of 10 Finance Commission d. All of these 21. According to Banking Regulation Act, RBI can fix SLR up to the ceiling of --a. 40% b. 50% c. 30% d. 45%

22. What was the field of Sunderrajan Committee? a. Petroleum b. Small Industry c. Education d. Power 23. Corporate Tax is imposed by --a. State Government b. Local Government c. Central Government d. Both Centre and State Government 24. Marginal Propensity to Consume (MPC) means When income rises consumption? a. Remains constant b. Increases in similar proportion c. Increases in higher proportion d. Increases in lesser proportion 25. What is needed for creating demand? a. Production b. Price c. Income d. Import 26. IMF is the result of --a. Hawana conference b. Rome conference c. Brettonwood conference d. Geneva conference 27. Primary gold is a gold of --a. 20 carat b. 22 carat c. 23 carat d. 24 carat 28. Who is not the member of National Development Council? a. Governors of the State b. Chief Ministers of the State c. Administrators of Union Territory d. All ministers of Union Cabinet 29. The demand for agriculture product mainly depends upon --a. Increase in agriculture area

b. Increase in population c. Increase in income d. Fall in price 30. The Headquarter of ILO is at --a. Washington b. Geneva c. The Hague d. Manila

31. According to 2011 census which State had the highest literacy rate? a. Kerala b.Mizoram c. Goa d. H.P.

32. According to 2011 census what is the percentage of India's population to that of world population? a. 25 .5 b.17.5% c.30.5 d. 12.5 33. What is the total population of Indi as per 2011 census? a. 131.02 crore b. 101.02 crore c. 121.02 crore 34.
a.

d. 111.02 crore

What is the total population of China?

114.10 b.124.10 c.104.10 d.134.10

35. Which country stands third place in total population ? a. Indonesia b. USA c. India c. Canada

36. According to 2011 census which district in India has highest density? a. North East Delhi b. Kolkata c. Chennai d. Mumbai 37. According to 2011 census Child sex ratio number of female children per 1000 male children is: a. 814 b.1014 c.914 d. 714 38 a. 39. First census of India was taken in which year?. 1972 b. 1772 c. 1902 The Census of India done in 2011 is ....... census.

d. 1872

a. 10th

b. 15th

c. 20th

d. 18th

40. Which state had a dip in literacy rate in 2011 census compared to 2001 census? a. Andhra pradesh b. Punjab c . Orissa d. Goa
Q.41 Industrial sickness is growing at an alarming rate and is causing concern to the Financial Institutions Banks Government All the above

(a) (b) (c) (d)

Q.42 Industrial Sickness may be caused by (a) Unfavourable external environment

(b) Managerial deficiencies (c) Any of the above (d) All the above Q.43 Industrial sickness occurs (a) Overnight (b) Develops gradually over time Both (a) and (b) (d) All of thesee

Q.44

In a leasing agreement, lessee gets a right to (a) Use the asset (b) Sell the asset Both the above (d) All of these

(a) (b) (c) (d)

Q.45 A leasing company can grow profitably over time, provided it offers Competitive rates Earns a satisfactory rate of return on its investments Both (a) and (b) All of these Q.46 For assessing the financial health of a company, one requires an understanding of Future industry economies and structure Competitive and operating characteristics of business Long term goals and plans of management All the above Q.47 Projects costing upto Rs. 5 crore are financed by State level financial institutions and banks All India Financial Institutions Both (a) and (b) All of these. Q.48 Credit worthiness of a potential customer relating to his capital variable, can be judged by Quick Ratio Current Ratio Net Worth Cash Flow Q.49 Fund Flow Statement on working capital (CA: CL) basis presents the Source of working capital Uses of working capital Net change in working capital All the above Q.50 Fund Flow Statement on Cash basis shows the (a) Sources of cash (b) Users of cash (c) Net change in Cash (d) All the above

(a) (b) (c) (d)

(a) (b) (c) (d)

(a) (b) (c) (d)

(a) (b) (c) (d)

ECONOMICS --ONE 1.C 2.A 3.C 4.C 5.A 6.C 7.A 8.C 18.B 9.C 19.B 10.B 20.D 30.B

11.A 12.A 13.C 14.D 21.A 22.A 23.C 24.A

15.D 16.A 17.C 25.C 26.C 27.D

28.A 29.B

31.A 32.B

33.C 34.D 44.C

35.B

36.A 37.C 38.D 39.B 48.A 49.F

40.A 50.D

41.D 42.C 43.B

45.C 46.D 47.A

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ECONOMICSTWO FINANC E AND ECO.

Q.1

Accounting is a language of (a) Business (b) Government (c) Company (d) All the above

Q.2

In devising an Accounting Structure, the steps required are

Arrangement of accounts in a desired sequence Preparation of the source data Analysis of the transactions All the above

Q.3

Objective of accounting is to

(a) Keep a systematic and permanent record of monetary transactions (b) Prepare Final accounts (c) Communicate the results of the monetary transaction (d) All the above

Q.4 (a) Journal (b) Ledger

A business transaction is first recorded in

(c) A document called voucher

(d) None of the above

Q.5

Double-entry System of Book-keeping was introduced by

35. William Pickels 36. Lucas Pacioli 37. R.N. Carter 38. None of the above

Q.6

Owners equities are the amounts payable to

(a) Creditors (b) Owners (c) Bankers (d) All the above

Q.7

External users of Accounting information are

(a) Government (b) Researchers (c) Banking institutions (d) All the above

Q.8

A separate business legal entity concept is applicable to writing the accounts of

(a) A Company (b) A Partnership firm (c) A Proprietary firm (d) All the above

Q.9

Cash Book is a

(a) Journal (b) Ledger (c) Both (a) and (b) (d) None of the above

Q.10

Trial Balance discloses errors of

(a) Principle (b) Compensating nature (c) Commission (d) All the above

Q.11

A Balance Sheet is usually prepared at the end of a (a) month (b) year (c) Period (d) Half year

Q.12

Accounting Standard Board was set up by the Institute of Chartered Accounts of India in

d. April 1977 di. October 1978 dii. October 1979 diii. None of the above

Q.13 Contingent liability appears as a footnote in the Balance Sheet. This involves an accounting principle named as (a) Consistency Materiality (b) Disclosure (c) Conservatism (d)

Q.14

Amount received from a debtor after being declared as bad debt is credited to

(a) Debtors A/c (b) Bad Debts Recovered A/c (c) Bad Debts A/c

(d) Suspense A/c

Q.15

Prepaid Insurance is (a) An asset (c) Sometimes an Asset (b) A Liability (d) Sometimes an Expenditure

Q.16 A Limited Co. bought machine for Rs. 2 Crore. The market price of the machine on that day was Rs. 2 Crore. It shows the Machine Account on that day was Rs.2 1/2 crore. Which of the accounting concept has been violated by the Co.? 39. Money Measurement Concept 40. Realisation Concept 41. Cost Concept 42. None of the above

Q.17 In the case of sale of partnership firm to a company, the profit or loss on the sale is ascertained through (a) Revaluation A/c (b) Realization A/c (c) Memorandum Realisation A/c (d) Any of the above

Q.18

Under Stock and Debtor System the Branch A/c is a (a) Nominal A/c (b) Personal A/c (c) Real A/c (d) None of the

above

Q.19

In Debtors method, profit for Hire Purchase transactions is ascertained by preparing

(a) Hire Purchase Trading A/c (b) Consignment A/c (c) Hire Purchase A/c

(d) None of the above

Q.20

The term Current Assets includes

(a) Depreciable Assets (b) Cash surrender value of Life Insurance Policy (c) Both (a) and (b) (d) None of the above

Q.21

Stores Ledger is a record of only

(a) Perpetual Inventory System (b) Periodic Stock taking system (c) Both (a) and (b) (d) None of the above

Q.22

Production is not hampered when stock-taking is done by

(a) Perpetual Inventory System (b) Periodic Stock taking system (c) Both (a) and (b) (d) None of the above

Q.23.

Reconciliation of Bin Cards and Stores Ledger is necessary due to posting in

(a) Bin Card and non-posting in stores Ledger and Vice-versa (b) Wrong posting in Bin Card or Stores Ledger (c) Entries in wrong columns in Bin Card or Store Ledger (d) All the above

Q.24

Inventory Turnover Ratio should normally be (a) 1:1 (b) 2:1 (c)3:1 (d) 4:1

Q.25

Control Ratios may be employed for exercising control on (a) Labour (b) Inventory (c) Overheads (d) Assets

Q.26

The purpose of material control is to avoid

(a) Overstocking of raw materials (b) Understocking of raw materials (c) Both (a) and (b) (d) None of the above

Q.27

Direct Material cost includes

(a) Materials including component parts (b) Small tools for general use (c) Stores items used for maintenance of machines (d) Some minor items like cost of nails in shoe-making

Q.28

Cost of Production of an item consists of

(a) Prime Cost (b) Factory overheads (c) Administrative over heads (d) All the above

Q.29

Job Costing is suitable for

(a) Biscuit making (b) Printing Press (c) Engineering goods (d) None of the above

Q.30

Differential Piece Rate System of payment of wages was first introduced by (a) Fayol (b) Taylor (c) Merrick (d) None of the above

Q.31

Function-wise overheads expenses may be classified as

(a) Manufacturing overheads (b) Administrative overheads (c) Selling and distributive overheads (d) All the above

Q.32

To determine the Economic Batch Quantity, costs may be grouped into

(a) Setting up costs (b) Carrying Costs (c) Both (a) and (b) (d) None of the above

Q.33

In Absorption Costing, profit is equal to

(a) Sales minus cost of sales (b) Contribution minus fixed cost (c) Any of the above (d) None of the above

Q.34

Marginal Costing is useful for

(a) Cost control (b) Profit planning (c) Both (a) and (b) (d) None of the above

Q.35

FIFO method for valuation of materials is preferably used when

(a) Prices are rising (b) Prices are falling (c) Prices seldom change (d) prices change very often

Q.36

P/V ratio indicates

(a) Profit efficiency (b) Volume efficiency (c) Profit volume relationships (d) Production sales relationships

Q.37

With a change in Fixed Costs

(a) Key factor changed (b) P/V ratio is changed (c) B.E.P. is changed (d) All the above change

Q.38

Marginal Costing technique is an aid to (a) Management Creditors (b) Shareholders (d) All the above

Q.39

A budget which is designed according to the level of activity is (a) Cash budget Production budget (b) Sales budget (d) Flexible budget

Q.40

Funds Flow Statement indicates the change in (a) Cash position Shareholders Funds (b) Working capital (d) None of the above

Q.41 Earning before Interest and Tax and Earning Per Share Analysis is used to determine the appropriate level of (a) Debt (b) Share Capital (c) Assets (d) None of the above

Q.42

A Companys extra earning power depends upon

(a) Weakness in the management of a competitor (b) Secret manufacturing process (c) Good labour relations (d) All the above

Q.43

Issue of Bonus Shares must be permitted by

(a) Memorandum of Association of the Company (b) Articles of Association of the Company (c) Both (a) and (b) (d) None of the above

Q.44

Portfolio management is the process of selecting a bundle of securities to get

(a) Maximum yield at a minimum risk (b) Maximum yield at a moderate risk (c) Lower yield at minimum risk (d) Any of the above

Q.45

Aggressive policy of Portfolio management lays emphasis on

(a) Yield from securities (b) Risk of investments (c) Safety of principal money (d) All the above

Q.46

Cash disbursements may be delayed by

(a) Delaying outward payment (b) Slowing disbursement by use of drafts (c) Making payroll periods less frequent (d) All the above

Q.47

For making a choice between Leasing and Hire Purchase, consideration is to be made of

(a) Depreciation and Investment (b) Tax advantage (c) Salvage value of the Asset (d) All the above

Q.48

Warrants and Convertible Debentures in India are becoming popular as they are

(a) A cheaper debt (b) Can be issued at a premium (c) Both (a) and (b) (d) None of the above

Q.49 For Investors seeking greater details, the most comprehensive source of information for stock markets is perhaps (a) Coverage in The Economic Times (b) The Daily Official Quotations List (c) Television Reporting

(d) Business Periodicals

Q.50

In an inflationary period, the current rupees at the time of receipt will have

(a) Lesser Purchasing Power (b) Greater Purchasing Power (c) Sometimes greater, sometimes lesser (d) None of the above

**********************************

1.
1.d 8.a 15.a 22.b 29.b 36.c 43.d 50.a

Answerseconomics -2
2.d 9.c 16.c 23.d 30.b 37.d 44.a 3.d 10.c 17.b 24.d 31.d 38.a 45.d 4.c 11.b 18.c 25.a 32.c 39.c 46.d 5.b 12.a 19.c 26.c 33.a 40.b 47.a 6.b 13.b 20.d 27.a 34.b 41.b 48.c 7.d 14.b 21.c 28.d 35.d 42.d 49.b

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ECONOMICS - THREE

1. Which of the following is the Regulator of the credit rating agencies in India ?

(A) RBI (B) SBI (C) SIDBI (D) SEBI (E) None of these 2. When more than one banks are allowing credit facilities to one party in coordination with each other under a formal arrangement, the arrangement is generally known as (A) Participation (B) Consortium (C) Syndication (D) Multiple banking (E) None of these 3. Open market operations, one of the measures taken by RBI in order to control credit expansion in the economy means (A) Sale or purchase of Govt. securities (B) Issuance of different types of bonds (C) Auction of gold (D) To make available direct finance to borrowers (E) None of these 4. The bank rate means (A) Rate of interest charged by commercial banks from borrowers (B) Rate of interest at which commercial banks discounted bills of their borrowers (C) Rate of interest allowed by commercial banks on their deposits (D) Rate at which RBI purchases or rediscounts bills of exchange of commercial banks (E) None of these 5. What is an Indian Depository Receipt ? (A) A deposit account with a Public Sector Bank (B) A depository account with any of Depositories in India

(C) An instrument in the form of depository receipt created by an Indian depository against underlying equity shares of the issuing company (D) An instrument in the form of deposit receipt issued by Indian depositories (E) None of these 6. An instrument that derives its value from a specified underlying (currency, gold, stocks etc.) is known as (A) Derivative (this shd b ans) (B) Securitisation Receipts (C) Hedge Fund (D) Factoring (E) Venture Capital Funding 7. Fiscal deficit is (A) total income less Govt. borrowing (B) total payments less total receipts (C) total payments less capital receipts (D) total expenditure less total receipts excluding borrowing (E) None of these 8. In the Capital Market, the term arbitrage is used with reference to (A) purchase of securities to cover the sale (B) sale of securities to reduce the loss on purchase (C) simultaneous purchase and sale of securities to make profits from price (D) variation in different markets (E) Any of the above 9. Reverse repo means (A) Injecting liquidity by the Central Bank of a country through purchase of Govt. securities

(WHAT KIND OF ANS THESE ALL ARE)

(B) Absorption of liquidity from the market by sale of Govt. securities (C) Balancing liquidity with a view to enhancing economic growth rate

(D) Improving the position of availability of the securities in the market (E) Any of the above 10. The stance of RBI monetary policy is (A) inflation control with adequate liquidity for growth (B) improving credit quality of the Banks (C) strengthening credit delivery mechanism (D) supporting investment demand in the economy (E) Any of the above 11. Currency Swap is an instrument to manage (A) Currency risk (B) interest rate risk (C) currency and interest rate risk (D) cash flows in different currencies (E) All of the above 12. Sub-prime refers to (A) lending done by banks at rates below PLR (B) funds raised by the banks at sub-Libor rates (C) Group of banks which are not rated as prime banks as per Bankers Almanac (D) lending done by financing institutions including banks to customers not meeting with normally required credit appraisal standards (E) All of the above 13. Euro Bond is an instrument (A) issued in the European market (B) issued in Euro Currency (C) issued in a country other than the country of the currency of the Bond (D) All of the above (E) None of these 14. Money Laundering normally involves

(A) placement of funds (B) layering of funds (C) integration of funds (D) All of (A), (B) and (C) (E) None of (A), (B) and (C) 15. The IMF and the World Bank were conceived as institutions to (A) strengthen international economic co-operation and to help create a more stable and prosperous global economy (B) IMF promotes international monetary cooperation (C) The World Bank promotes long term economic development and poverty reduction (D) All of (A), (B) and (C) (E) None of (A), (B) and (C) 16. Capital Market Regulator is (A) RBI (B) IRDA (C) NSE (D) BSE (E) SEBI 17. In the term BRIC, R stands for (A) Romania (B) Rajithan (C) Russia (D) Regulation (E) None of these 18. FDI refers to (A) Fixed Deposit Interest (B) Fixed Deposit Investment (C) Foreign Direct Investment

(D) Future Derivative Investment (E) None of these 19. What is Call Money ? (A) Money borrowed or lent for a day or over night (B) Money borrowed for more than one day but upto 3 days (C) Money borrowed for more than one day but upto 7 days (D) Money borrowed for more than one day but upto 14 days (E) None of these 20. Which is the first Indian company to be listed in NASDAQ ? (A) Reliance (B) TCS (C) HCL (D) Infosys (E) None of these

21. RBIs open market operation transactions are carried out with a view to regulate (A) Liquidity in the economy (B) Prices of essential commodities (C) Inflation (D) Borrowing power of the banks (E) All the above 22. 2014: Consider the following statements about Annual Supplement to Foreign Trade Policy 2009-

a) Benefits Under Market Linked Focus Product Scheme to garment exports to EU extended from October 2010 to March 2011. b) List of items allowed for duty free import of gems and jewellery sector expanded. c) Leather sector allowed to re-export of unsold imported raw hides and skins and semifinished leather from public bonded warehouses, without export duty.

Which of the above statements are true? A) Only (a) these. 23. The first two leading countries as per the statistics of 2009 in natu ral rubbers consumption in the world are ________. a) China and Indian respectively b) China and Brazil respectively c) China and USA respectively d) USA and India respectively E) None of these. B) Only (b) C) Only (c) D) All the above E)None of

24. Government has issued an ordinance announcing ULIP as Insurance Product. The regulations of ULIPs will now be done by _________. a) IRDA Only these 25. Indian rupee has got its symbol as a) P. Kiran Kumar d) D.Vikram Rao . This symbol has been designed by _______. c) Chandan Prakash Singh b) NABARD Only c) SEBI Only d) SBI Only e) None of

b) D.Udai Kumar e) None of these

26. The government has approved of 10% stake disinvestment in two public sector units. One of them is coal India, which is the other one. a) Hindustan Zinc Ltd. 1. Hindustan Iron Ltd. b) Hindustan Copper Ltd.

d) Hindustan Aluminum Ltd. e) None of these.

27. Lot of Banks in India these days are offering M-Banking Facility to their customers. What is the full form of M in M-Banking ? (A) Money (B) Marginal (C) Message (D) Mutual Fund (E) Mobile Phone

28.

Sampurna Gramin Rozgar Yojana has been launched from a) 1 Apr 2001 b) 25 Sep 2001 c) 30 Sep 2001 e) None of these

d) No scheme of such title has yet been launched

29. Which of the following is not the part of the structure of the Financial System in India ? (A) Industrial Finance (B) Agricultural Finance (C) Government Finance (D) Development Finance (E) Personal Finance 30. Which of the following is not the part of the scheduled banking structure in India ? (A) Money Lenders (B) Public Sector Banks (C) Private Sector Banks (D) Regional Rural Banks (E) State Co-operative Banks 31. As we all know Govt. of India collects tax revenue on various activities in the country. Which of the following is a part of the tax revenue of the Govt. ? (i) Tax on Income (ii) Tax on Expenditure (iii) Tax on Property or Capital Asset (iv) Tax on Goods and Services (A) Both (i) and (iii) only (B) Both (ii) and (iv) only (C) All (i), (ii), (iii) and (iv) (D) Only (ii), (iii) and (iv) (E) None of these 32. We very frequently read about Special Economic Zones (SEZs) in newspapers. These SEZs were established with which of the following objectives ? (i) To attract foreign investment directly. (ii) To protect domestic market from direct competition from multinationals.

(iii) To provide more capital to agricultural and allied activities. (A) Only (i) (B) Only (ii) (C) Only (iii) (D) All (i), (ii) and (iii) (E) None of these

33. According to FICCI study, India has managed to be the 7 largest producer of vehicles. The share of India in global automobile exports is a meager 1% in 2009 and ranks __________ in the world. a) 15
th

th

b) 20

th

c) 22

nd

d) 25

th

e) None of these.

34. The luxury car maker BMW Group has launched BMF Financial Services as a new business entity in India. From which country the company belongs to? a) France b) Italy c) USA d) Germany e) None of these.

35. Many times we read about Future Trading in newspapers. What is Future Trading ? (i) It is nothing but a trade between any two stock exchanges wherein it is decided to purchase the stocks of each other on a fixed price throughout the year. (ii) It is an agreement between two parties to buy or sell an underlying asset in the future at a predetermined price. (iii) It is an agreement between stock exchanges that they will not trade the stocks of each other under any circumstances in future or for a given period of time. (A) Only (i) (B) Only (ii) (C) Only (iii) (D) All (i), (ii) and (iii) (E) None of these

36. Inflation in India is measured on which of the following indexes/indicators ? (A) Cost of Living Index (COLI) (B) Consumer Price Index (CPI) (C) Gross Domestic Product (D) Wholesale Price Index (WPI) (E) None of these

37.

Recently India signed a Tax Information Exchange Agreement with a) USA b) Japan c) Bermuda d) Canada e) None of these

38. According to the Credit Suisse Global Wealth Report, the total wealth in India has tripled in the past decade to $ 3.5 trillion. Indias wealth may rise by 83% to $ 6.4 trillion by a) 2014 b) 2015 c) 2020 d) 2025 e) None of these.

39.

Which of the following is true about Swavalamban Scheme?

A) Finance minister Pranab Mukherjee will launch the Swavalamban scheme in Murshidabad district of West Bengal. B) As per the scheme, the Centre will contribute Rs.1,000 a year to each New Pension Scheme (NPS) account opened in the current year. C) The contribution will be made till 2013 14. D) To be eligible, a person will have to make a minimum contribution of Rs.1,000 and maximum contribution of Rs.12,000 per annum. a) Only A,B & C e) None of these b) Only A, C & D c) Only A & D d) All the above

40. A report on the state of good insecurity in urban India jointly prepared by the MS Swaminathan Research foundation and the United Nations World Food Programme has noted that the three states that witnessed a spate of farmer suicides were also states where urban food insecurity had worsened between 1998-2000 and 2004-06. Name these states. a) Maharashtra, Karnataka and Andhra b) Chhattisgarh, Karnataka and Andhra

c) Madhya Pradesh, Bihar and Orissa e) None of these

d) Maharashtra, Bihar and Orissa

41. India has signed initial agreements for laying a pipeline to wheel gas from _________ though Afghanistan and Pakistan but it is unlikely that the project will get off the ground anytime soon due to lack of stable political equations among the three south Asian countries. a) Tajikistan b) Kazakhstan c) Turkmenistan d) Uzbekistan

e) None of these

42. The share of government (the main borrower from bilateral and multilateral sources) in Indias total external debt has reduced significantly to ___________in March 2010 from 60% in 1990. The composition of the central governments public debt reveals that about 89% of the sovereign debt is from domestic sources and external debt accounts for just 11%, most of which is from multilateral sources. Besides, banks and insurance companies account for a sizeable share of the total domestic debt. a) 26% b) 21% c) 16% d) 11% e) None of these

43.

Who has been appointed head of the newly constituted National Innovation Council (NIC)? a) Sam Pitroda d) C Rangarajan b) K Kasturirangan e) None of these c) APJ Abdul Kalam

44.

Which committee recommended abolition of tax rebates under Section 88? a) Chelliah Committee d) Naresh Chandra Committee b) Kelkar Committee e) None of these c) Shome Committee

45.

Tarapore Committee subm itted its report on Full Convertibility on Rupee in a) Current account b) Capital account

c) Both on current as well as on capital account

35. Special Drawing Rights (SDRs) 36.

46. CENVAT is related to a) Sales Tax b) Excise Duty

e) None of these

c) Custom Duty

d) Service Tax

e) None of these

47. In Rashtriya Madhyamik Shiksha Abhiyan (RMSA) Scheme, government has targeted to ensure universal access to secondary level education by the year. a) 2012 b) 2015 c) 2017 d) 2020 e) None of these

48. Which of the following schemes is not a social development Scheme ? (A) Indira Awas Yojana (B) Mid Day Meal (C) Bharat Nirman Yojana (D) Sarva Shiksha Abhiyan (E) All are social schemes

49.

Which statement is correct for the Planning Commission of India? a) It is not defined in the Indian Constitution b) Members and Vice Chairman of it do not have a fixed working duration c) Members do not require any minimum education e) None of these d) All of these

50.

NABARD was established on the recommendation of a) Public Accounts Committee b) Shivaraman Committee d) Khandelwal Committee e)

c) Narasimham Committee (This might be ans) None of these

**********************************************

Answers : 1. (D) 2. (B) 3. (A) 4. (D) 5. (C) 6. (C) 7. (D) 8. (C) 9.(A) 10. (E)

11. (D) 12. (D) 13. (C) 14. (D) 15. (D) 16. (E) 17. (C) 18.(C) 19. (A) 20. (D)

21. (E) 22. (D) 23. (A) 24. (A) 25. (B) 26. (B) 27. (E) 28.(B) 29. (E) 30. (A)

31. (C) 32. (A) 33. (C) 34. (D) 35. (B) 36. (D) 37. (C) 38.(B) 39. (D) 40. (A)

41.(C) 42(.A) 43. (A) 44. (B) 45. (B) 46. (D) 47. (C) 48.(C) 49. (D) 50. (B)

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ECONOMICSFOUR

NOTE: If none of the given answers is correct, please mark e) None of these as your answer.

1.

Which of the following will decrease inflation? a) Truckers strike c) Cut in fuel prices b) Rise in the price of manufactured goods d) All of the above

2.

Which of the following clauses of SEBI is associated with corporate government? a) 41 b) 42 c) 49 d) 52

3.

SEBI was established in a) 1993 b) 1992 c) 1988 d) 1990 e) 1994

4.

The working of SEBI includes a) To regulate the dealings of share market b) To check the foul dealings in share market

c) To control the insider trading of shares

d) All of these

5.

LLP stands for a) Limited Liability Partnership c) Liable Limited Partnership b) Limited Loyalty Partnership d) Lower Level Partnership

6.

NABARD is a a) Commercial bank d) Regional rural bank b) development bank c) cooperative bank

7.

The main security guard of international trade is a) IMF c) World Bank b) WTO d)Asian Development Bank

8.

The headquarters of the World Bank is situated at a) Washington DC b) Geneva c) New York d) Paris

9.

Open market operation is a part of a) Income Policy d) Labour Policy b) Fiscal Policy c) Credit Policy

10.

In which year did Indias economic liberalization start? a) 1984 b) 1991 c) 1999 d) 2004 e) None of these

11.

Which of the following is not a feature of open economy? a) Non-interference by govt d) Consumers benefit b) Competition e) Administered price c) Demand and Supply

12.

Which of the following is the most advocating agency for economic globalization? a) WTO b) World Bank c) IMF d) EU

e) None of these 13. Which of the following is the core of the Basel-II norms?

a) Non-Performing Assets 1. Prime Lending Rate

b) Capital Adequacy Ratio e) None of these

d) Priority Sector Lending

14.

Match the following correctly. List I A) Apart from raising the cap on foreign (Amendment) Bill, 2008 List I (i) Insurance Laws

investment to 49% from 26%, this bill seeks to allow nationalized general insurance companies to raise funds from capital markets and change norms governing the rights of policyholders and insuresrespect to insurance policies. B)

(ii) Companies Bill, 2008

This bill seeks a comprehensive overhaul of the company law, which has been amended 24 times since its inception in 1956. The bill shifts the onus of regulation and oversight

over management away from the government towards the share holders and provides for stricter standards of approval by share holders. It also seeks to strengthen corporate governance.

C)

The Bill, introduced in 2005, sets a framework to (iii) Pension Fund regulate and develop pension funds, and thus Regulatory and Development Authority Bill, 2005

enhance old-age income security, by allowing private sector to participate in the business. Many of the provisions of the bill have already been without statutory powers) has been established. The UPA Government did not take it up because of opposition from the Left parties. D)

(iv) Banking Regulation (Amendment) Bill

Aims to align the voting right for foreign shareholders in Indian private banks with their stakes. At present, voting right is capped at 10 per cent. The move will

encourage foreign banks to raise capital either through preference shares and some other routes that are currently not permitted.

A a) b) c) d) e) (i) (ii) (iii) (iv) (iv)

B (ii) (iii) (iv) (i) (iii)

C (iii) (iv) (i) (ii) (ii)

D (iv) (i) (ii) (iii) (i)

15. Which of the following institutions is the apex body responsible for overall development, policy, planning and financial support of agriculture and rural development? a) National Bank for Agriculture and Rural Development b) National Agriculture Cooperative Marketing Federation of India c) Indian Farmers Fertilisers Cooperative Organisation. 16. The term Paper Gold refers to

a) Paper currency d) oil bonds

b) gold of highest purity e) yellow shining paper.

c) Special Drawing Rights.

17. Who among the following is responsible for the execution of the export and import policies of the Government of India? a) Chairman, State Trading Corporation b) Director-General of Trade and Commerce c) Chief Controller of Imports and Exports e) Ministry of Commerce d) Finance Commission

18.

Consider the following relationships. A) Deficit budgeting-Inflation C) Export Concessions-Fiscal Policy B) Consumer Price Index-Inflation d) Income-Standard of Living

E) Income Tax-Monetary Policy Which of the above relationship is not correct? a) A and D e) B and D 19. Taxes are collected by the Government with the basic objective(s) of A) Curbing the growing of black money. B) Establishing the coercive authority of the Government. C) Financing Government plans and expenditure D) Reducing inequalities in the society. a) A and B only d) A and D only b) B and C only e) A, B, C and D c) C and D only b) B and E c) Only C d) A and C

20.

Which of the following is/are the functions of the Securities and Exchange Board of India? A) To register and regulate collective Investment plans of mutual funds. B) To regulate the business of stock exchange and other securities market. C) To safeguard the interest of investors. D) To regulate capital market with suitable measures. a) A and C only d) B, C and D only b) B and D only e) All A, B, C and D c) A, B and C only

21.

Which of the following is/are the objective of the World Trade Organisation? A) To enlarge production and trade of services. B) To enlarge production and trade of goods. C) To improve standard of living of people in the member countries D) To ensure full employment and increase in effective demand a) A only b) A and B only c) A, B and C only d) B and C only

d) All A, B, C and D 22. Which of the following is/are not the function(s) of the Reserve Bank of India? A) To regulate cash and credit system of India B) To keep Foreign Exchange Reserve C) To issue five rupee coins and notes D) To formulate the monetary policy. a) B only b) D only c) A and C only d) B and D only

e) All A, B, C and D 23. Poverty is estimated by the Planning Commission on the basis of the large sample surveys on household consumer expenditure. This survey is conducted by the a) National Statistical Organisation b) National Sample Survey Organisation c) National Commission on Enterprises in the Unorganised Sector d) Centre for Monitoring Indian Economy. e) National Family Health Survey.

24.

The economic development in India is inadequate mainly due to a) slow rate of growth in industrial production. b) high rate of population growth c) slow rate of growth in agricultural production d) shortage of resources e) shortage of manpower

25.

The main objective of IMF loan to India is a) to improve technology b) to improve agriculture c) to increase industrial output d) to meet balance of payment problem

e) to reduce deficit in the Union Budget. 26. Which of the following is the main source of revenue for State governments in the Indian Union? a) Income tax and excise duty c) Motor vehicle tax e) Profession tax b) Land revenue and sales tax d) Building tax

27.

Grants-in-aid is given to the States for a) improving the Centre-State relationship b) reducing regional imbalances

c) various development schemes and rehabilitation purposes. d) welfare of SCs and STs. 28. e) improving the development of backward areas

Social Security and Social Insurance is a subject included in the a) Concurrent List of Powers c) Union List of Powers b) State List of Powers d) Residuary Powers e) None of these

29.

Which of the following is the maximum revenue source of village panchayats? a) Government grants b) Sales tax

c) Voluntary help by village cooperatives

d) Local taxes on lands, fairs and festivals e) Profit from village panchayat initiatives. 30. The impact of the Green Revolution has been mainly felt in a) pulses 31. b) cereals c) vegetables d) fruits e) All of these

Which of the following is not correct for economically under developed countries? a) High birth rate c) Low level of literacy e) None of these b) High rate of unemployment d) Low level of involvement in primary occupations

32.

The National Development Council of India is presided over by the a) Finance b) Home Minister

c) Vice-Chairman, Planning Commission d) Prime Minister of India. 33. of Economic and Social Planning is included in the Seventh Schedule of the Constitution as part

a) the Union List d) None of these 34.

b) the State List

c) the Concurrent List

Life expectancy of the female population in India is a) lower than its male counterpart. c) equal to its male counterpart b) higher than its male counterpart d) declining in recent years

35. The level of a municipality in terms of nagar panchayat, municipal board/council and municipal corporation is normally determined on the basis of a) the size of population b) the population density c) the geographical area d) the size of work force

36.

The literacy rate in India, according to the 2001 census was a) 58 per cent b) 55 per cent c) 54.5 per cent

d) 74.04 per cent (Doubt)

37. The headquarters of the Asian Development Bank is located at (A) Bangkok (B) Singapore (C) Kualalumpur (D) Manila 38. Explicit cost means (A) Payments made for short period (B) Payments made for long period (C) Payments incurred on fixed and variable costs (D) Payments made for productive resources

39. The most important aspect affecting cropping pattern is (A) The social consideration (B) The economic consideration (C) The political consideration (D) The geographical consideration

40. Which is the most mobile factor of production ? (A) Land (B) Labour (C) Capital (D) Organisation

41. Cottage and small scale industries are desirable in Indian Economy from the point of view of (A) Income generation

(B) Large scale production (C) Low cost technology (D) Employment generation

42. Which one of the following item is entered as credit in the balance of Payment Account ? (A) Imports from abroad (B) Purchase of assets from abroad (C) Sale of assets abroad (D) Purchase of gold from abroad

43. When there are economies of scale, it means that an increase in production must be accompanied by (A) A reduction in total cost of production (B) A reduction in average cost of production (C) A reduction in prices of inputs (D) An increase in profitability of producers

44. Changes in Bank Rate affects (A) The market rate of interest (B) Select industries for investments (C) Banks giving loans (D) The cash reserve ratios

45. Total costs is a combination of (A) Fixed cost and variable cost (B) Money cost and real cost

(C) Economic cost and social cost (D) Past cost and future cost

46. Very often we see in the advertisements published by Financing Institutes/Agencies stating that their products are given high or average Ratings. These Rating Agencies classify bonds/investments in how many categories ? 1. Low Risk 2. Average Risk 3. High Risk (A) Only 1 (B) Only 2 (C) Only 3 (D) All 1, 2 and 3 (E) None of these

47. As per the reports published in various newspapers/journals etc. the economic map of the world is being redesigned. What is/are the new emerging trends of this new economic map of the world ? 1. With India and Asia at the forefront the centre of economic gravity has shifted to East. 2. Emerging markets, with India among the leaders, are growing faster than old established markets. 3. Central banks of the countries have recognized that case-by-case liquidity solutions are not the answers and a market wide and globally synchronized approach is needed to solve the present crisis. (A) Only 1 (B) Only 2 (C) Only 3 (D) All 1, 2 and 3 (E) None of these

48. Under the Indira Gandhi National Widow Scheme for women abvoe 80 years the monthly st pension to be paid is Rs....... per month with effect from 1 April 2011. a) Rs.300 b) Rs.400 Rs.500 d) Rs.200 e) none of these.

49. Many a times we read a term in financial news papers SEPA. What is the full form of the term ? (A) Single Exchange Processing Agency (B) Single Euro Payments Area (C) Single Electronic Processing Agency (D) Super Electronic Purchase Agency (E) None of these

50. As per the revised norms of with effect from 1 April 2011 Indira Gandhi National Widow Pension Scheme a monthly pension will be given to the widows above the age of....

st

(A) 60 (B) 65 (C) 55 (D) 70

(E) None of these **************************************************** ANSWERS- ECONOMICS-FOUR

1.C

2.B

3.C

4.D

5.A

6.B

7.B

8.A

9.C

10.B

11.E

12.A

13.B

14.A

15.A

16.C

17.C

18.C

19.C

20.E

21.E

22.B

23.B

24.D

25.D

26.B

27.C

28.A

29.D

30.B

31.D

32.D

33.C

34.B

35.A

36.D

37.D

38.D

39.D

40.C

41.D

42.C

43.B

44.A

45.A

46.D

47.A

48.C

49.B

50.A

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ECONOMICS--SIX
1. Which of the following programmes was launched to control urban poverty? A) Nehru Rozgar Yojana B) Valmiki Ambedkar Aawas Yojana C) National Slum Development Programme a) Only A b) Only B c) Only C d) Only A&B e) All A, B&C 2. When Union Govt takes the approval of the parliament regarding expected expenditure for a short period not more than six months, instead of presenting full budget, it is knows as a) Consolidated Fund Budget b) Extra Ordinary Budget c) Partial Budget d) Vote on Account e) None of these 3. Which of the following is NOT a social sector programme launched by the Govt to India? a) Sarva Shiksha Abhiyan b) National Rural Employment Guarantee Scheme c) Mid Day Meal Scheme d) National Rural Health Mission e) Overseas Indian Citizenship Scheme 4. Which of the following schemes was launched by the Govt of India to give focused attention to integrated development of infrastructure and services in urban areas? a) Jawaharlal Nehru National Urban Renewal Mission b) Bharat Nirman c) Providing Urban facilities in Rural Area d) Both (1) & (2) above e) None of these 5. What are the incentives given to the Special Economic Zones (SEZs)? A) 100% FDI allowed for townships with residential educational and recreational facilities in the area B) Income tax benefits C) Exemption from Service Tax/Central Sales Tax

a) Only A b) Only B c) Only C d) All A, B&C e) None of these 6. Which of the following is one of the eight Millennium Development Goals set by the UNO? a) Eradication of poverty and extreme hunger b) Reduction in nuclear warheads in the world c) Total peace in Iraq and Afghanistan d) Restoration of peace in Darfur e) None of these 7. Which of the following is NOT a food crop? a) Maize b) Bajara c) Paddy d) Wheat e) Cotton 8. Which of the following is the full form of ASHA, a scheme of the Govt of India in the field of health and family welfare? a) Accredited Social Health Activist b) American Social Health Association c) Association of Social Health Activists d) American Social Helpers Association e) None of these 9. Deepak Parekh committee is associated with a) Tax reforms b) Financial inclusion c) Infrastructure financing d) School education e) None of these 10. Which of the following committee is associated with the impact of futures trading of farms commodity prices? a) Rangarajan committee b) Abhijit Sen committee c) Parekh committee d) Rakesh Mohan committee e) None of these 11. Yashpal committee is associated with a) Education b) Police reforms c) Pay scale of defence personnel d) Foreign trade policy e) None of these 12. Kelkar committee is associated with a) Education reforms b) Tax reforms c) Law reforms d) National sports policies e) None of these 13. According to the interim committee directed by the Planning Commission to formulate fresh criteria for determining how poverty should be defined, a family of five with an income of less than _______ a month in urban and ______ in rural area should be considered poor. a) Rs.5000, Rs.4000 b) Rs. 4000, Rs. 3000 c) Rs. 3000, Rs.2250 d) Rs. 2000, Rs. 1500 e) None of these 14. National Rural Employment Guarantee Scheme (NREGS) has been renamed as a) Mahtama Gandhi NREGS b) Jawahar Lal Nehru NREGS c) Indira Gandhi NREGS d) Rajiv Gandhi NREGS e) None of these 15. The target group of Rashtriya Swasthya Bima Yojana is a) Landless in rural area b) BPL urban poor c) BPL families in unorganised sector d) SCs and STs e) None of these 16. Aam Aadmi Bima Yojana was launched on a) Jan 1, 2005 b) Jan 25, 2006 c) Aug 15, 2006 d) Oct 2, 2007 e) None of these 17. Which scheme provides pension to widows between the age group of 40-64 years? a) Kasturba Gandhi National Widow Pension Scheme b) Kamala Nehru National Widow Pension Scheme c) Indira Gandhi National Widow Pension Scheme d) Sonia Gandhi National Widow Pension Scheme e) None of these 18. Accredited Social Health Activist (ASHA) scheme was launched under a) National Rural Health Mission b) Kishori Shakti Yojana c) NREGA d) Pradhan Mantri Swasthya Yojana e) None of these 19. The main aim of the ASHA scheme is a) the economic empowerment of women b) increasing female literacy c) decreasing infant and maternal mortality d) increasing educational awareness e) None of these 20. Which the following is associated with urban development? A) Jawahar Lal Nehru National Urban Renewal Mission

B) Indira Awas Yojana C) Rajiv Awas Yojana D) NREGA a) Only A&B b) Only A c) Only A & C d) Only C & D e) All the above 21. Which of the following schemes is associated with Bharat Nirman Yojana? a) Sarva Shiksha Abhiyan b) National Rural Health Mission c) Mid-Day Meal Scheme d) Janani Suraksha Yojana e) Pradhan Mantri Gram Sadak Yojana 22. It measures their progress on three key indicators education, life expectancy and income by purchasing power parity. It was developed in 1990 jointly by Amartya Sen and Mahbub ul Haq. Identify it. a) Human Development Index b) Human Growth Index c) Human Living Index d) World Standard Index e) None of these 23. Name the scheme which aims to free the country from slums in the next five years. a) Jawahar Awas Yojana b) Indira Awas Yojana c) Rajiv Awas Yojana d) Mahatma Awas Yojana e) None of these 24. Which of the following is not a component of Bharat Niraman Yojana (BNY)? a) Housing b) Telephony c) Electricity d) Communication e) Roads 25. The Centre has cleared a proposal to shift to a monthly Wholesale Price Index (WPI) series instead of the current weekly one, with the base year to be changed to 2004-05 from ________ at present. a) 1993-94 b) 1995-96 c) 1998-1999 d) 2002-2003 e) None of these 26. The National Mission for Female Literacy is renewed effort to make 70million people 60 million of them women functionally literate by a) 2012 b) 2013 c) 2014 d) 2015 e) None of these 27. Which of the following is NOT a measure to control inflation adopted by the government and/or RBI? a) Monetary Policy b) Fiscal Policy c) Financial Inclusion d) Price Control e) Bank Rate Policy 28. As we all know, the Wholesale Price Index is divided in-to five main commodity groups. Which of the following is NOT considered separately as a group while calculating Wholesale Price Index (WPI)? a) Services and/or Production by Public Sector Units b) Agriculture c) Imports & Exports d) Mining e) Manufacturing 29. In terms of economics, the total value of the output (goods and services) produced and income received in a year by domestic residents of a country put together is called a) Net National Product b) Gross National Product c) Gross National Income d) National Income e) None of these 30. As per the reports in various newspapers/magazines, India could not achieve the target of industrial growth fixed in the Tenth Five Year Plan. What was the target fixed for the same? a) 12% b) 11% c) 10% d) 8% e) None of these 31. Which of the following schemes was launched a few years back to provide wage employment to the rural people in India (The programme is being run successfully in addition to NREGA? a) Indira Awas Yojana b) Accelerated Rural Water Supply Programme c) Total Sanitation Campaign d) Sampoorna Grameen Rozgar Yojana e) Pradhan Mantri Gram Sadak Yojana 32. Which of the following is TRUE about the Rajiv Gandhi National Drinking Water Mission A) To provide safe drinking water in urban slums B) To provide sustainable safe drinking water in rural areas C) To provide sustainable and safe drinking water in those parts of the country where ample water is not available, like coastal areas and desert areas. a) Only A b) Only B c) Only C d) All A, B&C e) None of these

33. As per the news reports in various newspapers/magazines, which of the following sectors of the Indian economy slipped into negative growth during 2008-09? a) Service Sector b) Agriculture Sector c) Industrial Sector d) Energy Sector e) None of these 34. Rural sanitation programme of the Central Govt is a very popular programme in India. Which of the following was/were the objectives of the same? A) To provide home sanitation B) To provide disposal of garbage C) To provide wage employment to the poor of the society in rural areas. a) Only A b) Only B c) Only C d) Both A&B e) All A, B&C 35. Which of the following is/are true about the economy of China? A) China as a country is rich but the Chinese are not so. B) Chinas growth strategy has been based mainly on exports. C) Despite attaining rapid growth and also bringing millions of people out of poverty, China remains a poor country. a) Only A b) Only B c) Only C d) Both A&B c) All A,B&C 36. What growth rate per annum does India need if it has eradicate its poverty in the next 25 years? a) 6% b) 9% c) 8% d) 7% e) 10% 37. The energy policy of India says that energy security can be ensured by augmenting the domestic energy resource base and by maintaining reserves equivalent to the oil imports sufficient for a) 15 days b) 90 days c) 60 days d) 30 days e) One year 38. Which of the following is/are the major reforms the Govt has introduced in the banking sector? A) Dismantling the complex system of interest rate controls B) Eliminating prior approval of the RBI for large loans C) Introduction of capital adequacy norms and a few other prudential norms. a) Only A b) Only B c) Only C d) All A, B&C e) None of these 39. Which of the following is/are the recent trends noticed in the Indian economy that have raised concern about food security, farmers income and poverty? A) Slowdown in growth in agriculture sector B) Widening economic disparities between the irrigated and the rainfed areas C) Increased non-agricultural demand for land and water as a result of fast urbanization. a) Only A b) Only B c) Only C d) All A,B&C e) None of these 40. As per the reports in various newspapers/magazines etc, the agricultural productivity in India is low in comparison to other countries. What are the main reasons of the same? A) Lack of credit and marketing facilities B) Uneconomic holdings C) Outdated agricultural techniques a) Only A b) Only B c) Only C d) Both A&C e) All A, B&C 41. An insurance scheme for the agriculture sector was introduced by the Govt of India. Which of the following represents the name of the same? a) NAIS b) RIDF c) AICIL d) CACP e) None of these 42. Which of the following ministries lays down the policies and programmes for the development and regulation of the countrys water resources? a) Ministry of Rural Development b) Ministry of Agriculture c) Ministry of Environment and Forests d) Ministry of Tribal Affairs e) Ministry of Water Resources 43. Which of the following phenomenon is also known as Climatic Migration? a) White Revolution b) Green Revolution c) Global Warming d) Urbanisation e) None of these 44. India is a permanent member of which of the following organizations? a) NATO b) Non-Aligned Movement c) G-8 d) OPEC e) None of these 45. Which of the following is correct about the Rajiv Gandhi Grameen Vidyutikaran Yojana? A) The schemes was launched in a few backward states only. B) The aim of the scheme was to provide electricity to all villages having a population of 5000 and above. C) The scheme achieved its target in less than 10 years time. a) Only A b) Only B c) Only C d) All A, B&C e) Non of these

46. Some agro-processing units make an advance agreement with the farmers and decide to purchase the entire production of certain fruits, vegetables and medicinal plants on an agreed-upon cost/price. This type of arrangement is known as. a) Import farming b) Crop farming c) Adoptive farming d) Loan farming e) Contract farming 47. National Food Security Management scheme was launched by the Govt of India to achieve which of the following? A) Demonstration of improved production technology B) Distribution of high-yield variety seeds C) To distribute fertilizer subsidy to farmers directly in cash a) Only A b) Only B c) Only C d) Both A&B e) All A, B&C 48. What is the full form of CFSA as used in financial sectors? a) Corporation of Farmers and Subsidiary Allocation b) Committee on Financial Sector Assessment c) Committee on Farming Sector and Agronomy d) Commission to Float Scientific Agriculture e) None of these 49. Which of the following associate banks of the State Bank of India has merged with SBI in August 2010? a) State Bank of Bikaner and Jaipur b) State Bank of Indore c) State Bank of Travancore d) State Bank of Mysore 50. Which of the following countries has emerged as the second largest investor in Britain? a) India b) France c) China d) Japan ****************************************

ANSWERS ECONOMICS -SIX

1.E 11.A 21.D 31.D 41.A 2.D 12.B 22.A 32.B 42.E 3.E 13.C 23.C 33.E 43.D 4.A 14.A 24.D 34.D 44.B 5.D 15.C 25.A 35.E 45.E 6.A 16.D 26.A 36.B 46.E 7.E 17.C 27.C 37.B 47.D 8.A 18.A 28.C 38.C 48.C 9.C 19.C 29.B 39.D 49.B 10.E 20.C 30.D 40.E 50.A

***********************

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ECONOMICS7 Choose the Correct Answers: 1.Which one of the following is not a characteristic of a developing economy? a Self-sufficiency in capital b Low per capita income c Backward technology d Excessive dependence on agriculture 2. With the advancement of the economy a The share of industry in national product rises b The share of agriculture in national product falls c The share of agriculture in national product rises d None of the above 3. The Indian economy in the pre-British period consisted of isolated villages which were

a Deficient c Self-sufficient

b Surplus d None of the above

4. The dominant occupation of the Indians is a Trade b Industry c Transport d Agriculture 5. Predominance of agriculture in a countrys economy both in terms of employment and income generation shows that the economy is a Developed b Developing c Highly developed d None of the above 6. The best choice for the developing country is a Stable growth b Slow growth c Fast growth d None of the above 7. The structural changes in the composition of national income is the consequence of the process of planned programme of economic development a Agriculture origin b Industrial origin c Transport origin d Trade origin 8. In the Indian context, the study of poverty were made by .1 Dandekar & Rath 2. P.K. Bardhan 3. B.S. Minhas 4. M. Ahluwalia 5. I.J. Ahluwalia a 1 and 2 only c 1, 2, 3, 4 only b 2 and 3 only d 3, 4, 5 only

35. Where is the headquarters of State Bank of India?

a. Chennai b. New Delhi c. Mumbai d. none of these.

10. In which one of the following sectors was Co-operative Movement in India initiated? a Agricultural credit b Farming activities c Agricultural marketing d Consumer co-operation 11. The apex body for formulating plans and co-coordinating agriculture, animal husbandry, fisheries, education and research in India is a National Commission on Agriculture b Directorate Marketing and Inspection c Bureau of Indian Standards d Indian Council of Agricultural Research 12. Central Warehousing Corporation was set up in India in the year a 1947 b 1952 c 1959 d 1960 13. What are the economic factors that causes high birth rate in India?

d. di. dii.
a 1 only

Predominance of agriculture Slow urbanization and predominance of village Poverty b 1 and 2 only

c 2 and 3 only

d 1, 2, and 3

14. The unemployment is caused primarily by a High population growth b High birth rates in the rural area c The defective manpower planning d None of the above 15. A country can hope to overcome the problem of population explosion a Urbanisation b Education c Both a and b d None of the above 16. In India, present trend of rapid urbanization is due to a Influence of cinema and electronic media b Break up of joint family system c Abolition of zamindari system d Lack of employment opportunities in rural areas 17. Indian farmers insurance against crop failure is the process of one of a Share cropping b Relay cropping c Mixed cropping d Dry farming 18. What is the minimum permissible age for employment in any factory or mine? a Twelve years b Fourteen years c Sixteen years d Eighteen years 19. The modern State is a Laissez faire State b Aristocratic State c Welfare State d Police State 20. Welfare State is the aim of a Individualism c Democratic Socialism

b Anarchism d Scientific Socialism

21. In a free economy inequalities of income are mainly due to a Free competition b Private property only c Differences in the marginal productivity of labour d. Private property and inheritance 22. Change in demand refers to a Increase in quantity demanded on the same demand curve b Changing relation of demand and supply c Shift in demand curve d Decrease in quantity demanded on the same demand curve 23. According to the law of demand, when price a Increases demand decreases b Increases demand increases c Decreases demand decreases d Decreases demand does not change 24. Which of the following is at present the largest power using sector of the Indian economy? a Agriculture b Domestic consumers and street lighting c Industry d Transport and communications, including Railways 25. On which of the following do people of India spend most of their income? a Clothing b Food

c Fuel and Light

d Household durables

26. For which of the following is the largest area (in acres) used in India? a Growing tillage crops b Grazing and grasslands c Forestry d Villages, towns and cities 27. Demands for goods is elastic if a The demand for the goods increases when the price fails b The quantity demanded increases less than proportionately with the decrease in price level c A decrease in price results in a decrease in total expenditure on the commodity d All the above situations exist 28. Which of the following is not viewed as national debt? a Life insurance policies b Long-term Government bonds c National savings certificates d Provident Fund 29. Which one of the following is not an infrastructure industry? a Electricity b Coal c Petroleum d Sugar 30. Economic growth means a An increased output of goods and services b Increase in Gross National Product over a long period of time c Increase in Gross Domestic Product over time d All of the above 31. Under developed countries export trade is highly biased towards a Primary products b Capital goods c Manufactured goods d Consumer goods 32. Which among the following was not a characteristic of our economy at the time of independence? a We were exporting capital goods b We were self-sufficient before facing the chaos of partition c Indian economy was partially stagnant d None of the above 33. Which one of the above following is not included in the primary occupation? a Agriculture b Fishing c Plantation d Trading 34. Indian economy prior to independence remained under-developed due to a Economic reasons b Social institutions c Foreign rule d All of the above 35. Economic development can be measured in terms of changes in a Real per capita income b Average cost of living of the working class c GNP d None of the above 36. The characteristic of underdeveloped country is a Low rate of raving b Lack of technology c Lower productivity d None of the above 37. Indian economy is a Developing economy c Federal country

b Mixed economy d All of the above

38. Socialist Pattern comes through a Free economy b Public sector c Mixed economy d Laissez-faire 39. Secondary occupations in a country do not include the following occupations. Which one? a Communications b Manufacturing c Small scale cottage industries d Workshops 40. One among the following is not included in the tertiary occupation. Which one? a Banking b Industry c Trade d Transport 41. Annual growth rate of National Income was recorded lowest during a Second Plan b Third Plan c Fifth Plan d Sixth Plan 42. When was the New Liberalised Industrial Policy announced in India? a 1989 b 1990 c 1991 d 1992 43. Equilibrium price is that which a Equates consumers and producers surplus b Maximises consumers satisfaction c Equates supply and demand d Maximises producers profit 44. One of the main factors that led to rapid expansion of Indian exports is a Imposition of import duties b Liberalisation of the economy c Recession in other countries d Diversification of exports 45. Which is the oldest well-established industry in India? a Iron and steel b Jute c Cotton textiles d None of these 46. Which of the following is most likely to cause an immediate increase in the size of the working population? a A rise in the average size of families b An increase in the birth rate c A fall in the death rate of the over 60 year-olds d More favourable tax treatment of the earnings of married women 47. Which of the following will tend to raise the market rate of interest in the long run? a A fall in the marginal productivity of capital b An increase in the amount of savings by individuals c A rise in consumer demand for present over future consumption d None of the above 48. Public sector consists of those enterprises in which the State ownsa 50 per cent of the capital b 66 per cent of the capital c 85 per cent of the capital d 100 per cent of the capital 49. Which techniques of production are preferable to India? a Labour intensive technique b Capital-intensive technique c Both a and b d None of the above

50. The Balanced growth theory was propounded by a H. Leibenstein b J. Vene c A.K. Sen d R. Nurkse 51. Who has propounded the doctrine of unbalanced growth? a R. Nurske b Resenstein Roden c H. Myint d Albert O. Hirschman 52. Which of the following industry developed well before independence? a Heavy engineering b Machine tools c Chemical industries d Textiles 53. India still remains one of the most under developed nations in terms of a Natural resources b The availability of capital c Per capita income d Per capita expenditure 54. While considering the Gross National Product required? a Government purchases of goods b Per capita income of individuals c Private investment d Net foreign investment (GNP), which of the following is not

55. The rate of capital formation in under developed economy is low due to a Widespread poverty b Demonstration effect to follow suit the consumption pattern of the developed countries c Lack of natural resources d High defence expenditure 56. When did the Reserve Bank of India become a State-owned institution? a 1943 b 1947 c 1949 d 1969 57. Regional Rural Bank Ordinance was enacted by the govt. in the year a 1975 b 1978 c 1980 d 1982 58. The effect of occupational change in a country has the following bearing on the percentage population of the towns a It decreases b It has no effect c It increases d It decreases very sharply 59. The Oil and Natural Gas Commission was set up in a 1956 b 1957 c 1958 d 1959 60. In a country where higher percentage of its population relies, for its livelihood on agriculture, it is an index of a Developed economy b Capitalist economy c Socialist economy d Underdeveloped economy 61. The nature of Indian Planning Commission is a Autonomous corporation b Advisory body c Government body d A Ministry 62. Which one is included in the core industry? a Public sector enterprises b Private sector enterprises c Multi-national enterprises

d Basic industries and defence 63. The Planning Commission in India was set up in 1950 by a An ordinance enacted by president b An amendment of Constitution c Government d An act of parliament 64. The idea of planning in India can be traced back to late a Pt. J.L. Nehru b M.K. Gandhi c Mr. Visvesvaraiya d Dadabhai Naoroji 65. The Bombay Plan is associated with a Dr. S.N. Aggarwal b Sh. M.N. Roy c Dr. D.R. Gadgil d Eight Industrial Magnates of Ind. 66. The Planning in Indian Economy is based on the a Mixed economy system b Capitalist system c Gandhian system d Socialist system 67. The ex-officio Chairman of the Planning Commission of India is a The Planning Minister b The President c The Prime Minister d The Vice-President 68. The five-year plans of our country aim at making the country a Self-sufficient b Rich c Industrially developed d Trade oriented 69. Draft five-year plans is finally approved by a The President b National Development Council c Parliament d Planning Commission 70. The underlying growth model of the First Five Year Plan was based on the model of a Harrod-Domar b Marxian c Mahalanobis d J.M. Keynes 71. The Second Five Year Plan was based on the model of a Dr. V.K.R.V. Rao b Prof. P.C. Mahalanobis c Harrod-Domar d J.M. Keynes 72. The main emphasis laid in the Second Plan was on a Agriculture b Power c Industry d None of these 73. Planning in India under Pt. J.L. Nehru emphasized a Development of heavy and core industries b Small scale farming c Large scale consumers goods industries d Small scale and cottage industries 74. Generally perspective plans range for a period of a Four years b Five to ten years c Fifteen to twenty years d Twenty to thirty years 75. For the first time a strategy of industrialization and development of heavy industries was adopted in a First Plan b Second Plan c third Plan d Fourth Plan

76. Which of the following is incorrect? a 1951 56 First Five Year Plan b 1956 61 Second Five Year Plan c 1961 66 Third Five Year Plan d 1966 71 Fourth Five Year Plan 77. The National Development Council was founded in a 1950 b 1951 c 1952 d 1953 78. Nehruvian planning emphasized on a Heavy and core industries b Science and technology c Small scale industries d Agriculture 79. With the change of the Government in the center Fifth plan was terminated after a Five years b Six years c Four years d Three years 80. The maximum contribution to the resource mobilization of the public sector for the plans comes from a Internal borrowing b Foreign borrowing c Surplus of public enterprises d Tax revenue 81. A special feature of the Sixth Plan was a Sectoral planning b Area planning approach c Planning from top d Decentralisation of planning 81. Which pair is wrong? a First Plan agriculture and irrigation b Second Plan heavy industries c Thrid Plan minimum needs programme d Fifth Plan poverty removal 82. The set of basic priorities in the Seventh Plan is a Food, Work and Productivity b Growth, with Social Justice c Garibi Hatao and Productivity d Growth and Expansion of Employment Opportunities 83. The main function of the National Development Council in India is to a. Promote national integration b. Review the working of the National Plan from time to time c. Develop villages d. None of the above 84. The first modern industry to develop in India was a Iron and Steel industry b Cotton textile industry c Engineering industry d Cement industry 85. The multiplier is the factor by which a. A change in income changes saving b. A change in income changes investments c. An increase in investment lowers income d. A change in autonomous expenditure changes income 86. National Income of a nation is

a Governments annual income b Sum total of factor incomes c Surplus of public sector undertakings d Exports minus imports 87. Economic planning refers to a. The mobilization of taxes b. The allocation of resources c. The planning of manpower d. The mobilization of both taxes and manpower 88. Which of the following is an economic factor for the causes of poverty? a Low productivity in agriculture b Rapid rise in population c Inequalities of income d All of the above 89. Amongst the Handicrafts group, the highest export comes from a Brass work b Poultry and ivory c Sandalwood work d Precious stones and pearls 90. India earns the maximum foreign exchange from a U.S.A. b Japan c Russia d U.K. 91. The principal commodities which consist the exports of India are a Gems and jewellery b Readymade garments c Jute manufacture and handmade carpets d All of the above 92. During the colonial rule Indias exports mainly consisted of a A few primary commodities b Manufactured commodities c Handicrafts d None of the above 93. The biggest public sector undertaking in India is a Indian Railways b ONGC c LIC of India d HMT 94. Capital intensive industries cause a Larger employment opportunities b Increase in capital formation c Unemployment d All of the above 95. The Tata Iron and Steel CO. (TISCO) was set up in Jamshedpur in the year a 1904 b 1906 c 1907 d 1909 96. Which government undertaking is responsible for the management of the public steel plants? a SAIL b GAIL c ONGC d BHEL 97. The source of largest revenue in India is a Direct taxes b Indirect taxes c Sales tax d Excise duty 98. The major emphasis in the Third Plan was on

a Making India self-reliant b Adult education c Green Revolution d Food for work programme 99. Change in which of the following is the best indicator of the changes in the standard of living of the people of country? a. Cost of living index b. Index of industrial productivity c. Per Capita income d. Whole sale price index 100. It is impossible for a factor of production to earn economic rent if it a. Is in perfectly inelastic demand b. Is in perfectly elastic supply c. Is not a fixed supply d. Has more than a single use *******************************************

ANSWERSECONOMICS-7

1.a 11.d 21.d 31.a 41.b 51.d 61.b 71.b 81.b 91.d

2.b 12.c 22.c 32.a 42.c 52.d 62.d 72.c 82.c 92.a

3.c 13.d 23.a 33.d 43.c 53.c 63.c 73.a 83.b 93.a

4.d 14.c 24.c 34.d 44.b 54.b 64.c 74.c 84.b 94.c

5.b 15.c 25.b 35.a 45.c 55.a 65.d 75.b 85.d 95.c

6.c 16.d 26.a 36.d 46.d 56.c 66.a 76.d 86.b 96.a

7.c 17.c 27.a 37.d 47.c 57.c 67.c 77.c 87.b 97.d

8.c 18.b 28.d 38.c 48.d 58.c 68.a 78.b 88.d 98.a

9.c 19.c 29.d 39.a 49.a 59.a 69.b 79.c 89.d 99.c

10.b 20.c 30.d 40.b 50.d 60.d 70.a 80.a 90.a 100.b

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