Economics Practice Questions Set 7

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For India's Top Government Exams

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According to the Companies Act, 2013, ‘nominal capital’ implies to
*

1 point

such part of the capital, which has been called for payment

the maximum amount of share capital of a company

such part of the capital, which has been received by a company from its shareholders

such capital as the company issues from time to time for subscription

World Bank June 2014 released a study report on India’s Power Sector titled ‘More Power’ to India: The Challenge of ‘Electricity Distribution’. Which of the following is/are the key recommendation(s) of the report?

1. Ensure regulatory autonomy, effectiveness, and accountability for utilities and regulators
2. Insulate utilities from State Governments to prevent interference with internal operations
3. Scrap the Electricity Act 2003 in order to improve the revenue generation of the power distribution companies 1
Select the correct answer using the code given below :

1 point

1, 2 and 3

1 and 2 only

2 only

1 and 3 only

Consider the following statements relating to the World Bank:

1. The World Bank was established in 1946, and is headquartered in New York.
2. The World Bank Group has set for itself the goal to end extreme poverty in the World by 2030.
3. The World Bank is a vital source of financial and technical assistance to developing countries around the world. It is not a bank in the ordinary sense but a unique partnership to reduce poverty and support development.
4. The World Bank Group comprises five institutions managed by their member countries in order to promote shared prosperity by fostering the income growth of the bottom 40% of every country.
Which of the statements given above are correct?

1 point

1, 2 and 3

2, 3 and 4

1, 3 and 4

2 and 4 only

MONEX is associated with ___
*

1 point

Montreal experiment

Monetary experiment

Lunar experiment

Monsoon experiment

Consider the following statements relating to the World Trade Organization (WTO):

1. The WTO deals with the global rules of trade between nations.
2. The goal of the WTO is to help producers of goods and services, exporters, and importers conduct their business.
3. The WTO, which is a successor body of the General Agreement on Tariffs and Trade, came into being following the Uruguay Round of Negotiations.
4. The WTO distances itself in the framing of rules on trade in intellectual property rights.
Which of the statements given above are correct?

1 point

1, 2 and 3

2, 3 and 4

1, 2 and 4

1 and 3 only

Consider the following statements relating to the Non-Alignment Movement:

1. The Non-Aligned Movement (NAM) was created and founded during the collapse of the colonial system and the independence struggles of the peoples of Africa, Asia, Latin America, and other regions of the world and at the height’ of the Cold War.

2. The First Summit of the Movement of Non-Aligned Countries was convened by the leaders of India, Indonesia, Egypt, Syria, and Yugoslavia at Belgrade on September 1-6, 1961.
3. During the early days of the Movement, its actions were a key factor in the decolonization process, which led later to the attainment of freedom by many countries and to the founding of several new sovereign States.
4. The fundamental principle of the movement is to maintain equal distance from both the superpowers by joining the military alliances of both the blocs.
Which of the statements given above are correct?

1 point

1, 2 and 3

2 and 3 only

1, 3 and 4

1 and 2 only

In India, the contribution of food inflation to overall inflation is around 1/3rd to 2/5th. Within food inflation, the contribution of food articles is higher because the price rise in food articles is *

1 point

higher and their weight is also higher compared to food products

higher but their weight is lower compared to food products

lower but their weight is higher compared to food products

lower and their weight is also lower compared to food products

‘Inclusive growth’ is a phrase used in India’s ___

1. 9th Plan
2. 10th Plan
3. 11th Plan
4. 12th Plan
Select the correct answer using the codes given below.

1 point

1, 2 and 3

2 and 4

3 and 4

Only 4

Corporation tax in India is levied on the income of a company. Which one of the following does not include Corporation tax?
*

1 point

Profit from business

Capital gain

Interest on securities

Sale proceeds of assets

Which of the following statements about International Monetary Fund (IMF) are correct?

1. The IMF is a United Nations specialized agency.
2. The IMF was founded at the Bretton Woods Conference in 1944 to secure international monetary cooperation.
3. The objective of the IMF is to stabilize currency exchange rates, and to expand international liquidity (access to hard currencies).
Select the correct answer using the code given below :

1 point

1, 2 and 3

2 and 3 only

1 and 2 only

1 and 3 only

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