Objective GK questions and answers on Indian Economy - Set 07

G.K. Practice Test: Question Set - 07


1. Which of the following is not a part of machinery that settles industrial disputes?
    (A) Wage Court
    (B) Works Committee
    (C) Conciliation officers
    (D) Board of Conciliation

2. Excise duty is a tax levied on the
    (A) Import of goods
    (B) Export of goods
    (C) Production of goods
    (D) Sale of goods

3. If the fiscal deficit of the Union Government is Rs. 75,000 crores relending to State is Rs. 25,000 crores, interest payments are Rs. 25,000 crores, what is the amount of the primary deficit?
    (A) Rs. 50,000 crores
    (B) Rs. 25,000 crores
    (C) Rs. 1,00,000 crores
    (D) Rs. 1,25,000 crores

4. Short-term finance is usually for a period ranging up to
    (A) 5 months
    (B) 10 months
    (C) 12 months
    (D) 15 months

5. Deficit financing implies
    (A) Printing new currency notes
    (B) Replacing new currency with worn out currency
    (C) Public expenditure in excess of public revenue
    (D) Public revenue in excess of public expenditure

6. Which of the following items would not appear in a company's balance sheet?
    (A) Value of stocks of raw materials held
    (B) Total issued capital
    (C) Revenue from sales of the company's products
    (D) Cash held at the bank

7. In the second nationalization of commercial banks, ________ banks were nationalized.
    (A) 4
    (B) 5
    (C) 6
    (D) 8

8. 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
    (A) I, II
    (B) II
    (C) I
    (D) II, III

9. If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be
    (A) Zero
    (B) Equal to government income
    (C) Larger than government income
    (D) Negative

10. Of the gross tax revenue of the Union Government the indirect taxes account for nearly
    (A) 70 percent
    (B) 75 percent
    (C) 65 percent
    (D) 60 percent

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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
  Set 10      Set 11
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