Economics Practice Questions Set 13

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For India's Top Government Exams

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In the year 2016, the Government of India announced a ₹ 6,000 crore special package for the textile and apparel sector to

1. create one crore jobs within three years
2. create jobs equally for men and women
3. provide tax and production incentives for the entrepreneurs
Select the correct answer using the code given below.

1 point

1 only

2 and 3 only

1 and 3 only

1, 2 and 3

TRIPS Agreement pertains to ___ *

1 point

international tariff regime

intellectual-property protection

international practices on trade facilitation

international taxation of property

Which one of the following sectors are not affected by the changes made in the Foreign Direct Investment Policy in June 2016?
*

1 point

Multi-brand retailing

Defense

Private security agencies

Manufacturing of small arms and ammunitions covered under the Arms Act, 1959

BREXIT refers to Great Britain leaving which one of the following?
*

1 point

International Monetary Fund

Commonwealth

World Trade Organization

European Union

Which of the following statements about the Trans-Pacific/Partnership (TPP) is/are correct?

1. The TPP was signed by 12 Pacific Rim nations in the year 2015.
2. The T PP is likely to be a game-changer in global trade as member countries account for about 40 percent of global GDP.
3. India is a founder member of TPP.
Select the correct answer using the code given below.

1 point

1, 2 and 3

1 and 2 only

2 and 3 only

1 only

Which of the following statements about Bitcoin is/are correct?

1. It is a decentralized virtual currency.
2. It is generated through complex computer software systems.
3. The Reserve Bank of India recognized it as a legal tender in January 2016.
Select the correct answer using the code given below.

1 point

1 only

1 and 2 only

2 and 3 only

1, 2 and 3

The 76% growth rate registered by the Indian economy during the year 2015-16 is based on
*

1 point

Gross National Product at market prices

Gross Value Added at constant prices

Gross Domestic Product at market prices

Gross Domestic Product at constant prices

Goods and Services Tax likely to be levied in India is not a ___
*

1 point

gross value tax

value-added tax

consumption tax

destination-based tax

The Most Favoured Nation (MFN) Clause under the WTO regime is based on the principle of
*

1 point

non-discrimination between nations

discrimination between nations

differential treatment between locals and foreigners

uniform tariff across commodities

The Twelfth Five-year Plan focussed on inclusive growth. Which of the following were considered challenges for inclusiveness?

1. Poverty
2. Group inequality
3. Regional imbalance
4. Unemployment
Select the correct answer using the code given below.

1 point

1, 3, and 4 only

1, 2, 3 and 4

1, 2, and 4 only

2 and 3 only

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