INDIAN ECONOMY 01 (LEE EDUTEK PRIVATE LIMITED PH NO 9704875189)

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GENERAL KNOWLEDGE

The currency convertibility concept in its original form originated in

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Wells Agreement

Bretton Woods Agreement

Taylors Agreement

None of the above

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Which of the following items would not appear in a company's balance sheet?

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Value of stocks of raw materials held

Total issued capital

Revenue from sales of the company's products

Cash held at the bank

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If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits

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will decrease

will increase

will neither increase nor decrease

None of the above

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On which one of the followings is the benefits received principle of taxation to achieve optimality bases?

1 point

Marginal benefit received

Total benefit received

Average benefit received

Ability to pay for the benefit

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One of the reasons for India's occupational structure remaining more or less the same over the years has been that

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investment pattern has been directed towards capital intensive industries

productivity in agriculture has been high enough to induce people to stay with agriculture

ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture

people are largely unaware of the significance of transition from agriculture to industry for economic development

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Depreciation means

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closure of a plant due to lock out

closure of a plant due to labour trouble

loss of equipment over time due to wear and tear

destruction of a plant in a fire accident

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The association of the rupee with pound sterling as the intervention currency was broken in

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1990

1991

1992

1993

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Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves I.interest payments II.subsidies III.defence IV.irrigation

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I, II

I, II, III

II, III, IV

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ICICI is the name of a

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chemical industry

bureau

corporation

financial institution

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Devaluation of a currency means

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reduction in the value of a currency vis-a-vis major internationally traded currencies

permitting the currency to seek its worth in the international market

fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies

fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners

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Gilt-edged market means

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bullion market

market of government securities

market of guns

market of pure metals

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Deficit financing leads to inflation in general, but it can be checked if

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government expenditure leads to increase in the aggregate supply in ratio of aggregate demand

only aggregate demand is increased

all the expenditure is denoted national debt payment only

All of the above

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If the cash reserve ratio is lowered by the RBI, its impact on credit creation will be to

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increase it

decrease it

no impact

None of the above

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Which of the following is the most appropriate cause of exports surplus?

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Country's exports promotion value

Country's stringent import policy

Developments in national and international markets

None of the above

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States earn maximum revenue through

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land revenue

custom revenue

commercial taxes

excise duties on intoxicants

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In the second nationalization of commercial banks, ___ banks were nationalized.

1 point

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The central co-operative banks are in direct touch with

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farmers

state co-operative banks

land development banks

central government

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The central banking functions in India are performed by the I.Central Bank of India II.Reserve Bank of India III.State Bank of India IV.Punjab National Bank

1 point

I, II

II, III

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The first wholly Indian Bank was set up in

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1794

1894

1896

1902

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In the last one decade, which one among the following sectors has attracted the highest foreign direct investment inflows into India?

1 point

Chemicals other than fertilizers

Services sector

Food processing

Telecommunication

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India changed over to the decimal system of coinage in

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April 1995

April 1957

April 1958

April 1959

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Development expenditure of the Central government does not include

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defence expenditure

expenditure on economic services

expenditure on social and community services

grant to states

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On July 12, 1982, the ARDC was merged into

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RBI

NABARD

EXIM Bank

None of the above

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Gross domestic capital formation is defined as

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flow of expenditure devoted to increased or maintaining of the capital stock

expenditure incurred on physical assets only

production exceeding demand

net addition to stock after depreciation

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In the state of India, the State Financial Corporation have given assistance mainly to develop

1 point

agricultural farms

cottage industry

large-scale industries

medium and small-scale industries

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