XII ECO TERM 1 SP

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XII ECO TERM 1 SP

1. The Government can achieve its budget objective of ‘Redistribution of Income’ by____________ *

1 point

Managing the General Price Level in the economy to the desired level.

Increasing the Gross Domestic Products (GDP) of the economy.

Bringing the production of goods and services under its direct and absolute control.

Rationalisation of taxes in pro-poor direction.

2. Balance of Payments of an economy records_____________ for a fiscal year. *

1 point

Income and expenditure of the government

Inflow and outflow of funds of the government

Inflow and outflow of foreign exchange to/from the economy

Inflow and outflow of loans to/from the rest of the world

3. Identify which of the following bank does not interact directly with the general public? *

1 point

Bank of India

State Bank of India

Central Bank of India

Reserve Bank of India

4. Identify which of the following is not an example of ‘invisible item’ under Current Account of the Balance of Payments transactions: *

1 point

Air and sea transport

Postal and courier services

Education-related travel

Merchandise linked transactions

5. Read the following statements carefully and choose the correct alternative from the following: *

1 point

Both the statements are true.

Both the statements are false

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

6. Ms. Sakshi, an economics teacher, was explaining the concept of ‘minimum percentage of the total deposits to be kept by any commercial bank with the Central Bank of the country, as per norms and statute prevailing in the country’. From the following, choose the correct alternative which specifies towards the concept explained by her? *

1 point

Cash Reserve Ratio

Repo Rate

Bank Rate

Statutory Liquidity Ratio

7. Two friends Mira and Sindhu were discussing the exchange rate systems. *

1 point

Fixed Exchange Rate

Floating Exchange Rate

Managed Floating Exchange Rate

Managed Fixed Exchange Rate

8. Read the following statements carefully and choose the correct alternative from the following: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

9. Under the Balance of Payments structure of a nation, the two main categories of accounts for the classification of the transactions are___ and ___. *

1 point

i and ii

i and iii

iii and iv

iv and i

10. Identify which of the following is not a function of the Reserve Bank of India? *

1 point

To act as the banker to the Government of India.

To act as the custodian of the gold reserve of India

To act as the financial advisor to the Government of India

To issue coins and one rupee note

11. Industrial Policy Resolution (IPR) 1956 formed the basis of the_________ Five Year Plan. *

1 point

First

Fourth

Second

Third

12. Occupational structure refers to___________ *

1 point

Size of labour force in a country

Number of people living in a country

Distribution of workforce among different sectors of an economy

Nature of different occupations

13. _____________ is the portion of agricultural produce which is sold in the market by the farmers, after meeting their self-consumption requirements. *

1 point

Trade Surplus

Marketable Surplus

Producer Surplus

Consumer Surplus

14. Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

15. Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

16. Before the advent of Green Revolution in 1960’s, India was primarily dependent on _________for the supply of food grains. *

1 point

United States of America (USA)

Britain (United Kingdom)

Mexico

Union of Soviet Socialist Republics (USSR)

17. From the following given sets of statements in column I and II, choose the correct pair of statements. *

1 point

A-i

B-ii

C-iii

D-iv

18. National Bank for Agricultural and Rural Development (NABARD) was set up in 1982 as a/the_________body to coordinate the activities of all institutions involved in the rural financing system. *

1 point

Cooperative

Apex

Micro credit

Private credit

19. The Government of India has decided to vaccinate the adult population of India (with Covaxin/Covishield), without any charge. This would be categorized as ____________ *

1 point

Revenue nature income

Capital nature expenditure

Revenue nature expenditure

Capital nature income

20. ____________ is not a reason for poverty in India. *

1 point

Population explosion

Rise in per capita GDP

low capital formation

Socio-economic exclusion

21. In a hypothetical economy, Mr. Neeraj has deposited ₹100 in the bank. If it is assumed that there is no other currency circulation in the economy, then the total money supply in the economy will be ________________ *

1 point

Zero

₹ 100

Not defined

₹ 120

22. ‘Since independence, India has witnessed a considerable fall in the Infant Mortality Rate in India’ Identify which of the following may not be one of the reasons for the fall in the Infant Mortality Rate? *

1 point

Improvement in health facilities over the years

Improvement in educational standards over the years

Fall in standard of living of the population of the nation over the years

Technological expansion over the years

23. Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

24. Prior to India's independence, the stagnation in the agricultural sector was mainly caused by ___________. *

1 point

Investment in technology

Investment in agriculture facilities

Advanced infrastructural facilities

land settlement system

25. Read the following statements - Assertion (A) and Reason (R): *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R) is false.

Assertion (A) is false but Reason (R) is true.

26. Suppose in an economy, the initial deposits of ₹ 400 crores lead to the creation of total deposits worth ₹ 4000 crores. Under the given situation the value of reserve requirements would be________ *

1 point

0.01

0.1

0.4

27. S Read the following statements - Assertion (A) and Reason (R): *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)

Assertion (A) is true but Reason (R) is false.

Assertion (A) is false but Reason (R) is true.

28. Identify the incorrect statement from the following: *

1 point

Diversification in agriculture sector provides sustainable livelihood rural population.

Diversification includes - change in cropping pattern, shift of workforce from agriculture to other allied activities and non-agriculture sector.

Objective of investment in new agricultural avenues (non-farm activities) increases financial risks for the rural population.

Diversification reduces the proportion of unemployed population in the rural areas to considerable limits.

29. Read the following statements - Assertion (A) and Reason (R): *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R) is false.

Assertion (A) is false but Reason (R) is true.

30. From the set of statements given in Column I (Name of the Scheme) and Column II (Objective of Poverty Alleviation Program), choose the correct pair of statements: *

1 point

A-i

B-ii

C-iii

D-iv

31 A *

1 point

Tamil Nadu, Gujrat, Bihar, Andhra Pradesh

Bihar, Madhya Pradesh, West Bengal and Orissa

Rajasthan, Madhya Pradesh, Bihar and Uttar Pradesh

Andhra Pradesh, Rajasthan, West Bengal and Tamil Nadu

31 B FOR VISUALLY CHALLENGED CANDIDATES: Identify which of the following statements given below, is not true. *

1 point

Lack assets as well as income

Lack human capital

Work in formal sector

Too much dependency on public health facilities

32 . *

1 point

915 %

1015 %

815 %

715 %

33 . Read the following statements - Assertion (A) and Reason (R): *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R) is false.

Assertion (A) is false but Reason (R) is true.

34 . Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

35 . Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

36 . Arrange the following event in the correct chronological order: *

1 point

iv,ii,i,iii

i,iv,iii,ii

ii,iii,iv,i

iii,iv,ii,i

37 . Read the following statements -Assertion (A) and Reason(R), choose one of the correct alternatives given below: *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R)is false.

Assertion (A) is false but Reason (R)is true.

38 . Demand Deposits include______ and _________.(Fill up the blank with correct alternative) *

1 point

i and ii

ii and iii

i and iii

i and iv

39 . Read the following statements -Assertion (A) and Reason(R), Choose one of the correct alternatives given below: *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R)is false.

Assertion (A) is false but Reason (R)is true

40 . Read the following statements -Assertion (A) and Reason(R), Choose one of the correct alternatives given below: *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R) is false

Assertion (A) is false but Reason (R) is true

41 . Read the following statements -Assertion (A) and Reason(R), Choose one of the correct alternatives given below: *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A

Assertion (A) is true but Reason (R)is false.

Assertion (A) is false but Reason (R)is true

42 A . Choose the correct alternatives to be filled in given blanks A and B. *

1 point

Low level of income and Low level of investment

Low level of investment and Low level of Income

Low Mobilization of savings and Low level of investment

Low level of Investment and Low savings

42 B . *

1 point

Both the statements are true

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

43 . Ms Ramanpreet has started a new business venture, she intends to spend a huge amount towards ‘on-the-job training’ of her workers before putting them to work. It exhibits the right step in the direction of Human Capital Formation. Spot which of the following does not directly contributes to the process of human capital formation by Ms Ramanpreet: *

1 point

Adds skills and expertise

Improves efficiency

Ensures gender equity

Increases output productivity

44 . Suppose that the Balance of Trade (BOT) of a nation, exhibits a surplus of ₹ 20,000 crores. The import of merchandise of the nation is half of the exports of merchandise to the rest of the world. The value of exports would be ₹______ crores. *

1 point

30,000

40,000

24,000

35,000

45 . Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

46 . Read the following statements -Assertion (A) and Reason(R), Choose one of the correct alternatives given below: *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R) is false

Assertion (A) is false but Reason (R) is true.

47 . Identify the correct statement from the following: *

1 point

Restrictive policies of commodity production, trade and tariff pursued by the colonial government adversely affected the structure, composition and volume of India’s foreign trade.

Effective trade policies of commodity production, trade and tariff pursued by the colonial government favorably affected the structure, composition and volume of India’s foreign trade

Liberal policies of commodity production, trade and tariff pursued by the colonial government adversely affected the structure, composition and volume of India’s foreign trade.

Restrictive policies of commodity production, trade and tariff pursued by the colonial government favorably affected the structure, composition and volume of India’s foreign trade.

48 .Match the situations given in Column I with their respective implications given in Column II: *

1 point

A-ii; B-iii; C-iv; D-i

A-iii; B-iv; C-i; D-ii

A-i; B-ii; C-iii; D-iv

A-ii; B-iv, C-i; D-iii

49 .The value of recovery of loans has___________ crores between 2019-20 (Actual) and 2020-21 (Budgeted Estimate) *

1 point

Fallen by ₹ 3349

Risen by ₹ 3349

Fallen by ₹ 3439

Risen by ₹ 3439

50. The percentage change in the Non-Tax Revenue, between 2019-20 (Actual) and 202021(Budgeted Estimate), taking the 2019-20 as base, would be ____________. *

1 point

15.02%

16.20%

17.68%

20.01%

51. Identify which of the following is not an example of tax revenue for the government: *

1 point

Wealth Tax

Special Assessments

Income Tax

Corporate Tax

52. Identify the correct formula to calculate Fiscal Deficit *

1 point

Total expenditure - Total Receipt ( other than borrowings)

Revenue Expenditure- Revenue Receipt

Capital Expenditure- Capital Receipt

Revenue Expenditure + Capital expenditure - Revenue Receipt

53. Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

54. The value of Primary Deficit for the year 2020-21, would be ₹_____________ crores. *

1 point

88134

321581

96133

609219

55. According to the given text, ________ was adopted as the guiding principle of governance and all governments since 1991. *

1 point

Modernization

Liberalisation

Privatization

Globalization

56. Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

57. Read the following statements - Assertion (A) and Reason (R): *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R) is false.

Assertion (A) is false but Reason (R) is true.

58. In the light of the given text and common knowledge, identify the incorrect statement: - *

1 point

A severe balance of payments problem triggered an acute economic crisis in 1991.

In 1991, the economic and political leadership launched a multipronged reforms agenda to repair the macroeconomic situation of the nation.

In post 1991 situation, the state was given the role of primary regulator of the economy.

Post pandemic, individual sectors should be looked closely. Sectors that need reforms should be identified and corrective action should be taken.

59. Read the following statements carefully and choose the correct alternatives given below: *

1 point

Both the statements are true.

Both the statements are false.

Statement 1 is true and Statement 2 is false

Statement 2 is true and Statement 1 is false

60. Read the following statements - Assertion (A) and Reason (R): *

1 point

Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A).

Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A).

Assertion (A) is true but Reason (R) is false.

Assertion (A) is false but Reason (R) is true.

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