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069 Economy Previous Year Questions

Economy Previous Year Questions

Q1. What is/are the facility/facilities the beneficiaries can get from the services of Business Correspondent (Bank Saathi) in branchless areas?
1. It enables the beneficiaries to draw their subsidies and social security benefits in their villages.
2. It enables the beneficiaries in the rural areas to make deposits and withdrawals.
Select the correct answer using the code given below.
(a) 1 only
(b) 2 only
(c) Both 1 and 2
(d) Neither 1 nor 2
Ans: (c)

Q2. Which one of the following Public Sector Bank’s emblem figures a dog and the words ‘faithful friendly, in it?
(a) Punjab National Bank
(b) Syndicate Bank
(c) Oriental Bank of Commerce
(d) State Bank of India
Ans: (b)

Q3. Which of following are likely long term consequences of demonetisation move of government?
1. Interest rates could fall further
2. Reduction in stock of black money
3. Continuation of digital revolution
4. Increase in financial savings to the extent cash deposit ratio falls permanently
5. Stronger economy with least corruption Identify the correct statements.
(a) 1, 2. 3 & 5 only (b) 1, 3, 4 & 5 only
(c) All are correct (d) None are correct
Ans: (b)

Q4. Consider the following statement in regards to ‘IGNITE’:
1. It is an annual national competition to harness the creative and innovative spirit of school children.
2. It is conducted by National Innovation Foundation working on strengthening the grassroots technological innovations and outstanding traditional knowledge in India.
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)

Q5. Which of the following form the part of the External Commercial Borrowings?
1. Commercial bank loans
2. Buyers’ and suppliers’ credit
3. Securities instruments such as Floating Rate Notes and Fixed Rate Bonds etc.
Which the correct answer using the codes given below:
(a) 1 and 2 only (b) 1and 3 only
(c) 3 only (d) 1, 2 and 3
Ans: (d)

Q6. Goods and Services Tax likely to be levied in India is not a
(a) gross value tax (b) value-added tax
(c) consumption tax (d) destination-based tax
Ans: (a)

Q7. The Indian caste system in its classical form is characterised by
(a) Vertical hierarchy
(b) Horizontal hierarchy
(c) Intercaste occupational competition
(d) Equality
Ans: (c)

Q8. Recently, which one of the following currencies has been proposed to be added to the basket of IMF’s SDR?
(a) Rouble
(b) Rand
(c) Indian Rupee
(d) Renminbi
Ans: (d)

Q9. Brent index is associated with :
(1) crude oil prices (2) copper future prices
(3) gold future prices (4) shipping rate index
Which of the following is true?
(a) Only 1 (b) Only 2
(c) Only 3 (d) Only 4
Ans: (a)

Q10. Both Foreign Direct Investment (FDI) and Foreign Institutional Investor (FII) are related to investment in a country. Which one of the following statements best represents an important difference between the two ?
(a) FII helps bring better management skills and technology, while FDI only brings in capital.
(b) FII helps in increasing capital availability in general, while FDI only targets specific sectors.
(c) FDI flows only into the secondary market while FII targets primary market
(d) FII is considered to be more stable than FDI.
Ans: (b)

Q11. Main features related to payment of wages through Post Office under NREGS are as under:
1. Payment to be made through saving Bank accounts of Post Offices.
2. No service charge to be claimed from the beneficiaries for opening of accounts or making withdrawals.
3. Provision for advanced deposit of two month’s wage payment in the Head Post Office of the District Headquarter.
Which of the above statements are correct?
(a) 1 and 2 only (b) 2 and 3 only
(c) 1 and 3 only (d) All of the above
Ans: (c)

Q12. Which of the following industries are reserved only for the Public Sector as of now?
1. Atomic Energy
2. Railways
3. Defence
4. Space
Which the correct answer using the codes given below:
(a) 1 and 2 only (b) 2, 3 and 4 only
(c) 1 and 4 only (d) 1, 2 and 3 only
Ans: (a)

Q13. The birth rate and death rate of a country are shown in the graph given below:
Birth and Death Rates Years 0 10 20 30 40 10 20 30 Birth Rate Death Rate Looking at the graph it can be interred that in the last ten years
(a) Population growth-rate shows no trend
(b) Growth-rate of population has remained stable
(c) Population growth-rate has decreased
(d) Population growth-rate has increased
Ans: (b)

Q14. The Indian Economy is characterised by
(a) pre-dominance of agriculture
(b) low per capita income
(c) massive unemployment
(d) all of the above
Ans: (d)

Q15. Consider the following statements in context with Treasury Bills:
1. They are issued by Government of India on behalf of Reserve Bank of India
2. They are mostly for Short term borrowings
3. Treasury Bills can not be purchased by any person resident of India
Which among the above is / are correct ?
(a) All are correct (b) 2 & 3 are correct
(c) Only 2 is correct (d) Only 3 is correct
Ans: (c)

Q16. Which of the following would include Foreign Direct Investment in India?
1. Subsidiaries of foreign companies in India
2. Majority foreign equity holding in Indian companies
3. Companies exclusively financed by foreign companies
4. Portfolio investment
Select the correct answer using the codes given below
(a) 1, 2, 3 and 4 (b) 2 and 4
(c) 1 and 3 (d) 1, 2 and 3
Ans: (d)

Q17. Which of the following statements regarding e-National Agriculture Market(e-NAM) is/are correct?
1. e-NAM is a e-trading platform for National Agriculture Market, which will give farmers a choice in selling their produce on an e-platform.
2. Once enacted by union law it will apply to all states and union territories.
3. Initially only non-cereal crops like onion, potato are included in e-NAM.
Select the correct answer using the codes given below:
(a) 1 only (b) 2 and 3 only
(c) 1 and 3 only (d) All of the above
Ans: (a)

Q18. Consider the following statements regarding widely discussed Swiss Formula in WTO forum:
1. It provides for the linear tariff reduction for NAMA negotiation.
2. It provides for a 3 tiered co-efficient linked to specific flexibilities for protecting sensitive NAMA tariff lines for the developing countries whereas single tiered co-efficient for the developed countries.
Which of the above statements is /are correct?
(a) 1 only (b) 2 only
(c) Both 1 and 2 (d) None of the above
Ans: (b)

Q19. The main function of the I.M.F is to
(a) arrange international deposits from banks
(b) help to solve balance of payments problems of member countries
(c) act as a private sector lending arm of the World Bank
(d) finance investment to developing countries
Ans: (b)

Q20. Consider the following statements:
1. Human Development Report is an authoritative annual publication brought out by the World Bank.
2. It measures longevity by life expectancy at birth.
3. Knowledge is measured by adult literacy rate.
4. Standard of living is measured by GDP per capita
(US $ PPP)
Which of the following statements is not correct?
(a) 1 (b) 2
(c) 3 (d) 4
Ans: (a)

Q21. _______ are conducted by the RBI by selling and buying government securities from banks.
1. Bank rate
2. Cash reserve ratio
3. Open market operations
4. Statutory Liquidity Ratio
Choose the correct code.
(a) 1 only (b) 2 only
(c) 3 only (d) 4 only
Ans: (c)

Q22. Which statement is correct regarding capital account?
I. On the credit side of this account receipt of foreign exchange due to Foreign Direct Investment (FDI), Foreign Capital Investment (FCI) and Foreign Borrowing (FB) is recorded.
II. On the debit side of capital account payment of foreign exchange due to Direct Investment Abroad
(DIA), Portfolio Investment Abroad (PIA) and Foreign Lending (FL) is recorded.
(a) Only II (b) Only I
(c) Both I & II (d) None of the above
Ans: (c)

Q23. Which of the following statements is NOT correct regarding the National Agricultural Market (NAM)?
(a) A single license will be valid across a state
(b) Electronic auction of agricultural commodities can take place
(c) It will lead to supply chain congestion
(d) Single point levy of market fee
Ans: (c)

Q24. Match the following:
Organisation Head Quarters (HQ)
1. Asian development Bank A. Geneva
2. International Monetary Fund B. Manila
3. Amnesty international C. Washington
4. CARICOM D. Guyana Correct Code:
(a) 1-B, 2-C, 3-D, 4-A (b) 1-A, 2-B, 3-C, 4-D
(c) 1-B, 2-C, 3-A, 4-D (d) 1-C, 2-A, 3-D, 4-B
Ans: (c)

Q25. One of the reasons for India’s occupational structure remaining more or less the same over the years has been that
(a) productivity in agriculture has been high enough to induce people to stay with agriculture.
(b) ceilings on land holdings have enabled more people to own land and hence their preference to stay with agriculture.
(c) people are largely unaware of the significance of transition from agriculture to industry.
(d) for economic developme intnvestment pattern has been directed towards capital-intensive industries.
Ans: (a)

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