Economics General Knowledge Practice Tests - Set 02

G.K. Practice Test: Question Set - 02


1. The poverty line has been defined in the
    (A) Seventh Five-Year Plan
    (B) Sixth Five-Year Plan
    (C) Eighth Five-Year Plan
    (D) Fifth Five-Year Plan

2. “Golden handshake” is the term associated with
    (A) Share Market
    (B) Retirement Benefits
    (C) Voluntary Retirement Benefits
    (D) Smuggling

3. Capital is that wealth
    (A) Which is used for the production of wealth
    (B) Which is kept in boxes and lockers
    (C) Which is buried in the land
    (D) Which is stored for consumption

4. Which Bank has the maximum number of branches?
    (A) ICICI Bank
    (B) HDFC Bank
    (C) State Bank of India
    (D) State Bank of Patiala

5. Value Added Tax (VAT) is
    (A) Indirect tax levied at each stage of production and distribution, from the primary produce to the retailer
    (B) Tax calculated on the selling price, but in declaring the liability to the government, the seller is allowed to deduct any tax paid by him when he bought the goods
    (C) Both (a) and (b)
    (D) None of the above

6. The credit of inventing the television goes to
    (A) Faraday
    (B) Baird
    (C) Edison
    (D) Marconi

7. Function of an entrepreneur is
    (A) Organization of labor
    (B) Collection of capital
    (C) Showing efficiency in collection of loans from the banks and the market
    (D) Risk-taking

8. The term used to describe money that flows into a country to take advantage of high rates of interest is called
    (A) Hot money
    (B) Hard sector
    (C) Hard currency
    (D) None of the above

9. The measurement of poverty line is based on the criteria of
    (A) Their dwelling houses
    (B) The nature of employment
    (C) Caloric consumption
    (D) Level of education

10. Planning Commission was constituted in
    (A) June 1949
    (B) October 1951
    (C) March 1950
    (D) None of these

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Economics and Indian Economy:
  Set 01      Set 02      Set 03      Set 04      Set 05      Set 06      Set 07      Set 08      Set 09
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