General Awareness Questions and Answers for Competitive Exams
Economics Important Question for Competitive Exam
Q.71 In India, which one among the following formulates the fiscal policy?
(A) Planning Commission
(B) Ministry of Finance
(C) Finance Commission
(D) The Reserve Bank of India
Ans . B
Q.72 Short-term finance is usually for a period ranging up to
(A) 5 months
(B) 10 months
(C) 12 months
(D) 8 months
Ans . C
Q.73 Redistribution polices geared to reduce economic inequalities include
(A) progressive tax policies
(B) land reforms
(C) rural development policies
(D) All the above
Ans . D
Q.74 If the RBI adopts an expansionist open market operations policy, this means that it will
(A) buy securities from non-government holders
(B) sell securities in the open market
(C) offer commercial banks more credit in the open market
(D) openly announce to the market that it intends to expand credit
Ans . C
Q.75 Subsidies mean
(A) payment by government for purchase of goods and services
(B) payment made by business enterprises to factors of production
(C) payment made by companies to shareholders
(D) payment made by the government to business enterprises, without buying any goods and services
Ans . D
Q.76 In which of the following sequences the change in quantity of money leads to change in price level in the Keynesian models?
(A) Change in quantity of money - change in investment - change in employment and output - change in rate of interest - change in price level
(B) Change in quantity of money - change in employment and output - change in investment - change in the rate of interest - change in price level
(C) Change in quantity of money - change in investment - change in rate of interest - change in employment and output - change in price level
(D) Change in quantity of money - change in rate of interest - change in investment - change in employment and output - change in price level
Ans . D
Q.77 Paper currency first started in India in
(A) 1861
(B) 1542
(C) 1601
(D) 1880
Ans . A
Q.78 The ARDC is now a branch of the
(A) RBI
(B) NABARD
(C) IDBI
(D) SDBI
Ans . B
Q.79 Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to
(A) ARDC
(B) SBI
(C) NABARD
(D) PACs
Ans . C
Q.80 The budget deficit means
(A) the excess of total expenditure, including loans, net of lending over revenue receipts
(B) difference between revenue receipts and revenue expenditure
(C) difference between all receipts and all the expenditure
(D) fiscal deficit less interest payments
Ans . C
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Rajesh Bhatia
A Writer, Teacher and GK Expert. I am an M.A. & M.Ed. in English Literature and Political Science. I am highly keen and passionate about reading Indian History. Also, I like to mentor students about how to prepare for a competitive examination. Share your concerns with me by comment box. Also, you can ask anything at linkedin.com/in/rajesh-bhatia-7395a015b/.
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