Economy mcqs#4
Q 1.Consider the following statements:
1. Purchasing Power Parity (PPP) exchange rates are calculated by comparing the prices of the same basket of goods and services in different countries
2. In terms of PPP dollars, India is the sixth largest economy in the world.
Which of the statement given above is/are correct?
a.1 only
b.2 only
c.Both 1 and 2
d.Neither 1 nor 2
Ans-a
Q 2.Among the agricultural commodities imported by India, which one of the following accounts for the highest imports in terms of value in the last five years?
a.Spices
b.Fresh fruits
c.Pulses
d.Vegetable oils
Ans-d
Q 3.Which one of the following is not the most likely measure the Government/ RBI takes
to stop the slide of Indian rupee?
a.Curbing imports of nonessential goods-and promoting exports
b.Encouraging Indian borrowers to issue rupee denominated Masala Bonds
c.Easing conditions relating to external commercial borrowing
d.Following an expansionary monetary policy
Ans-d
Q 4.Consider the following statements
The Reserve Bank of India’s recent directives relating to ‘Storage of Payment System Data’, popularly known as data diktat, command the payment system providers that
1. they shall ensure that entire data relating to payment systems operated by them are store in a system only in India.
2. they shall ensure that the systems are owned and operated by public sector enterprises.
3. they shall submit the consolidated system audit report to the Comptroller and Auditor General of India by the end of the calendar year
Which of the statements given above is/are correct?
a.1 only
b.1 and 2 only
c. 3 only
d. 1, 2 and 3
Ans-a
Q 5.Consider the following statements:(Current Affairs)
As per the Industrial Employment (Standing Orders) Central (Amendment) Rules, 2018
1. if rules for fixed-term employment are implemented, it becomes easier for the firms/companies to lay off workers
2. no notice of termination of employment shall be necessary in the case of temporary workman
Which of the statements given above is/are correct?
a.1 only
b. 2 only
c.Both 1 and 2
d.Neither 1 nor 2
Ans-c
Q 6.The money multiplier in an economy increases with which one of the following?
a. Increase in the cash reserve ratio
b. Increase in the banking habit of the population
c. Increase in the statutory liquidity ratio
d. Increase in the population of the country
Ans-b
Q 7.The Global Competitiveness Report is published by the
a.International Monetary Fund
b. United Nations Conference on Trade and Development
c.World Economic Forum
d.World Bank
Ans-c
Q 8.Which of the following statements best describes the term ‘Scheme for Sustainable Structuring of Stressed Assets (S4A)’, recently seen in the news?
a.It is a procedure for considering ecological costs of developmental schemes formulated by the Government
b.It is a scheme of RBI for reworking the financial structure of big corporate entities facing genuine difficulties.
c.It is a disinvestment plan of the Government regarding Central Public Sector Undertakings.
d. It is an important provision in ‘The Insolvency and Bankruptcy Code’ recently implemented by the Government
Ans-b
Q 9.Which of the following has/have occurred in India after its liberalization of economic policies in 1991?
1. Share of agriculture in GDP increased enormously.
2. Share of India’s exports in world trade increased.
3. FDI inflows increased. 4. India’s foreign exchange reserves increased enormously.
Select the correct answer using the codes given below:
a.1 and 4 only
b.2, 3 and 4 only
c.2 and 3 only
d.1, 2, 3 and 4
Ans-b
Q 10.Consider the following statements:
1. National Payment Corporation of India (NPCI) helps in promoting the financial inclusion in the country.
2. NPCI has launched RuPay, a card payment scheme.
Which of the statements given above is/are correct?
a.1 only
b.2 only
c.Both 1 and 2
d. Neither 1 nor 2
Ans- c