Indian Economy Online gk questions and answers - Set 08

G.K. Practice Test: Question Set - 08


1. Depreciation means
    (A) Closure of a plant due to lock out
    (B) Closure of a plant due to labor trouble
    (C) Loss of equipment over time due to wear and tear
    (D) Destruction of a plant in a fire accident

2. On July 12, 1982, the ARDC was merged into
    (A) RBI
    (B) NABARD
    (C) EXIM Bank
    (D) None of the above

3. The central co-operative banks are in direct touch with
    (A) Farmers
    (B) State co-operative banks
    (C) Land development banks
    (D) Central government

4. In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines
    (A) To govern entry of new private sector banks to make the banking sector more competitive
    (B) To reduce the freedom given to banks to rationalize their existing branch network
    (C) To setup more foreign exchange banks
    (D) To lend more easily for industrial development

5. The current price index (base 1960) is nearly 330. This means that
    (A) All items cost 3-3 times more than what they did in 1960
    (B) The prices of certain selected items have gone up to 3-3 times
    (C) Weighted means of prices of certain item has increased 3-3 times
    (D) Gold price has gone up 3-3 times

6. National expenditure includes
    (A) Consumption expenditure
    (B) Investment expenditure
    (C) Government expenditure
    (D) All of the above

7. Redistribution polices geared to reduce economic inequalities include
    (A) Progressive tax policies
    (B) Land reforms
    (C) Rural development policies
    (D) All the above

8. Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to
    (A) ARDC
    (B) SBI
    (C) NABARD
    (D) PACs

9. The currency convertibility concept in its original form originated in
    (A) Wells Agreement
    (B) Bretton Woods Agreement
    (C) Taylors Agreement
    (D) None of the above

10. India changed over to the decimal system of coinage in
    (A) April 1995
    (B) April 1957
    (C) April 1958
    (D) April 1959

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Economics and Indian Economy:
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