Economics GK Practice Question and Answer
8 Q: Which of the following concepts implies that sustainable development should take a holistic approach towards notions of progress and give equal importance to non-economic aspects of wellbeing?
349 064a69065aa4c004ce3218d63
64a69065aa4c004ce3218d63- 1Gross Domestic Productfalse
- 2Gross National Productfalse
- 3Gross National Happinesstrue
- 4Net National Productfalse
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Answer : 3. "Gross National Happiness"
Explanation :
1. Gross Domestic Product (GDP) is the standard measure of value added created through the production of goods and services in a country during a given period.
2. It also measures the income earned from that production or the total amount spent on final goods and services (less imports).
Q: The Reserve Bank of India introduced a comprehensive regulatory framework for NBFC-MFI on __________.
370 064a68c3bc4e3d04ca166ea6e
64a68c3bc4e3d04ca166ea6e- 110 December 2015false
- 22 December 2011true
- 38 December 2013false
- 45 December 2012false
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Answer : 2. "2 December 2011 "
Explanation :
1. The Reserve Bank of India introduced a comprehensive regulatory framework for NBFC-MFIs on 2 December 2011.
Q: In India, according to the Insolvency and Bankruptcy Code, 2016, the process of insolvency resolution for companies should be completed in how many days?
560 064a6845fdc607a4d2b2c74b7
64a6845fdc607a4d2b2c74b7- 1180true
- 2150false
- 3170false
- 4120false
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Answer : 1. "180"
Explanation :
1. According to the Insolvency and Disability Code, 2016 in India, the insolvency resolution process of companies must be completed in 180 days.
2. The IBC 2016 also attempted to deal with the difficulties in the existing law as well as other disagreements that may develop between debtors and creditors due to inadequacies in the information system.
Q: The ______ was nationalised in the year 1949.
387 064a2a3b7c7d7c7e067491fc8
64a2a3b7c7d7c7e067491fc8- 1Union Bank of Indiafalse
- 2Reserve Bank of Indiatrue
- 3Central Bank of Indiafalse
- 4Imperial Bank of Indiafalse
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Answer : 2. "Reserve Bank of India"
Explanation :
1. The Reserve Bank of India was nationalized on January 1, 1949.
2. Earlier, the Reserve Bank of India was a privately owned bank, established on April 1, 1935, in accordance with the provisions of the Reserve Bank of India Act, 1934.
2. After India's independence on 15 August 1947, RBI was nationalized on 1 January 1949.
4. After nationalization, the Reserve Bank of India came under the complete ownership of the Government of India.
Q: The national census does NOT recognise ______ groups within India.
1633 064a2a305ab3c5fffc2fa1e10
64a2a305ab3c5fffc2fa1e10- 1tribalfalse
- 2ethnictrue
- 3religiousfalse
- 4scheduled castefalse
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Answer : 2. "ethnic"
Explanation :
A. National census does not identify ethnic groups within India.
B. Here are examples of some specific groups identified by the national census.
1. Tribal Groups: Santhal, Gond, Adivasi, Bodo, Meena, Kushwaha
2. Religious Groups: Hindu, Muslim, Christian, Sikh, Buddhist, Jain, Parsi
3. Linguistic Groups: Hindi, Bengali, Marathi, Tamil, Telugu, Urdu, Gujarati, Kannada, Punjabi, Assamese
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.
462 0649aaa06dad6f2e01f6e1304
649aaa06dad6f2e01f6e1304- 1depreciatedtrue
- 2appreciatedfalse
- 3appreciatedfalse
- 4overvaluedfalse
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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: The intervention of the government whether to expand demand or reduce it constitutes the ___________.
448 0649aa4ff46047484bc6fa4b6
649aa4ff46047484bc6fa4b6- 1speculative functionfalse
- 2redistribution functionfalse
- 3stabilisation functiontrue
- 4transaction functionfalse
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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: Which of the following statements is/are correct regarding Government of India’s New Integrated Food Security Scheme?
A. This New Integrated Food Security Scheme has been started from 1 January 2023.
B. The Government of India targeted to supply food grains to more than 80 crores beneficiaries under the National Food Security Act.
C. First time this food grains supply programme was brought under the Ministry of Social Justice for effective implementation.
409 0649aa390ab3c5fffc2e088ea
649aa390ab3c5fffc2e088eaA. This New Integrated Food Security Scheme has been started from 1 January 2023.
B. The Government of India targeted to supply food grains to more than 80 crores beneficiaries under the National Food Security Act.
C. First time this food grains supply programme was brought under the Ministry of Social Justice for effective implementation.
- 1B and C onlyfalse
- 2A and C onlyfalse
- 3A, B and Cfalse
- 4A and B onlytrue
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Answer : 4. "A and B only"
Explanation :
The following statements are correct regarding the new Integrated Food Security Scheme of the Government of India.
A. This New Integrated Food Security Scheme has been started from 1 January 2023.
B. The Government of India targeted to supply food grains to more than 80 crore beneficiaries under the National Food Security Act.