Economics GK Practice Question and Answer

Q:

Which of the following is NOT a public sector insurance company?

667 0

  • 1
    United India Insurance Company Limited
    Correct
    Wrong
  • 2
    The New India Assurance Company Limited
    Correct
    Wrong
  • 3
    SBI Life Insurance
    Correct
    Wrong
  • 4
    General Insurance Corporation of India
    Correct
    Wrong
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Answer : 3. "SBI Life Insurance"
Explanation :

There are public sector insurance companies.

1. United India Insurance Company Limited

2. The New India Assurance Company Limited

3. General Insurance Corporation of India

Q:

The intervention of the government whether to expand demand or reduce it constitutes the ___________.

662 0

  • 1
    speculative function
    Correct
    Wrong
  • 2
    redistribution function
    Correct
    Wrong
  • 3
    stabilisation function
    Correct
    Wrong
  • 4
    transaction function
    Correct
    Wrong
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Answer : 3. "stabilisation function"
Explanation :

1. Government intervention, whether to expand demand or to reduce it, is called stabilization function.

Q:

In which of the following years was the Reserve Bank of India nationalised?

635 0

  • 1
    1935
    Correct
    Wrong
  • 2
    1949
    Correct
    Wrong
  • 3
    1927
    Correct
    Wrong
  • 4
    1965
    Correct
    Wrong
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Answer : 2. "1949"

Q:

As per the recommendations of the National Statistical Commission, the Base Year of the GDP Series in India was revised from 2004-05 to ______ with effect from January 2015.

607 0

  • 1
    2011-12
    Correct
    Wrong
  • 2
    2013-14
    Correct
    Wrong
  • 3
    2005-06
    Correct
    Wrong
  • 4
    2009-10
    Correct
    Wrong
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Answer : 1. "2011-12"
Explanation :

1. From January 2015, as per the recommendations of the National Statistical Commission, the GDP in India The base year of the (GDP) series was revised from 2004-05 to 2011-12.

Q:

Which of the following is called the ‘father of white revolution’ in India? 

598 0

  • 1
    Hargovind Khurana
    Correct
    Wrong
  • 2
    V. Kurien
    Correct
    Wrong
  • 3
    M.S. Swaminathan
    Correct
    Wrong
  • 4
    P.K. Sethi
    Correct
    Wrong
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Answer : 2. "V. Kurien"

Q:

Assume that the exchange rate between the US Dollar and the Indian Rupee is $1 = ₹55. Now if this exchange rate increases to $1 = ₹60, then in this situation the Indian Rupee has depreciated against the US Dollar.

592 0

  • 1
    depreciated
    Correct
    Wrong
  • 2
    appreciated
    Correct
    Wrong
  • 3
    appreciated
    Correct
    Wrong
  • 4
    overvalued
    Correct
    Wrong
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Answer : 1. "depreciated"
Explanation :

मान लीजिए कि अमेरिकी डॉलर और भारतीय रुपये के बीच विनिमय दर $1= ₹55 है। अब यदि यह विनिमय दर बढ़कर $1 = ₹60 हो जाती है, तो इस स्थिति में अमेरिकी डॉलर की तुलना में भारतीय रुपये का _______ हुआ है।

Q:

What is the total stock of money in circulation among the public at a particular point of time called? 

571 0

  • 1
    Money order
    Correct
    Wrong
  • 2
    Money supply
    Correct
    Wrong
  • 3
    Short money
    Correct
    Wrong
  • 4
    Money laundering
    Correct
    Wrong
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Answer : 2. "Money supply "

Q:

A form of financial service which provides small loans and other financial services to poor and low-income households is called ______. 

553 0

  • 1
    microfinance
    Correct
    Wrong
  • 2
    commercial mortgage
    Correct
    Wrong
  • 3
    invoice financing
    Correct
    Wrong
  • 4
    personal finance
    Correct
    Wrong
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Answer : 1. " microfinance "

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