Indian Economy Practice Question and Answer
8 Q: Which Indian finance minister was India’s delegate to the World Monetary Conference at Bretton Woods in 1944?
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64c22a2a96ae1f4842fef06d- 1KC Neogyfalse
- 2CD Deshmukhfalse
- 3John Mathaifalse
- 4RK Shanmukham Chettytrue
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Answer : 4. "RK Shanmukham Chetty"
Explanation :
1. In the World Monetary Conference at Bretton Woods in 1944, R. Of. Shanmukham Chetty served as the Indian Finance Minister.
2. Served as Speaker of the Central Legislative Assembly of India, and also as Dewan of Cochin State from 1935 to 1941.
Q: The difference between Revenue Receipts plus Non-debt Capital Receipts (NDCR) and total expenditure is called ______.
402 064bfc92123047f4c71e1cb68
64bfc92123047f4c71e1cb68- 1Revenue Deficitfalse
- 2Fiscal Deficittrue
- 3Effective Revenue Deficitfalse
- 4Primary Deficitfalse
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Answer : 2. "Fiscal Deficit"
Explanation :
1. The difference between the sum of revenue receipts and Non-Debt Capital Receipts (NDCR) and total expenditure is called fiscal deficit.
2. Fiscal deficit is an important indicator of the financial position of the government.
3. It shows how much difference there is between the current income and expenditure of the government.
4. Fiscal deficit can be influenced by many factors, including.
- Economic situation: During an economic recession, the government often increases the fiscal deficit to provide stimulus to the economy.
- Political pressure: Governments often run up fiscal deficits to raise funds for social programs.
- Military spending: Governments often run fiscal deficits to increase military spending.
Q: The Reserve Bank of India introduced a comprehensive regulatory framework for NBFC-MFI on __________.
360 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: The ______ was nationalised in the year 1949.
367 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.
1590 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.
458 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: Amartya Sen was awarded the Noble Prize for his contribution to–
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6336e5cc30141c336c3a466b- 1Monetary Economicsfalse
- 2Welfare Economicstrue
- 3Econometricsfalse
- 4Development Economicsfalse
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Answer : 2. "Welfare Economics"
Explanation :
Explain: -For Welfare Economics and Social Choice Theory, Amartya Sen, in 1998 was awarded the Noble Prize. Welfare economics is a branch of economics that uses microeconomic techniques to evaluate well-being (welfare) at the aggregate (economy-wide) level. ... The field of welfare economics is associated with two fundamental theorems.
Q: Labour Intensive Technique would get chosen in a–
588 06336e53793021d4ee41b0a34
6336e53793021d4ee41b0a34- 1Labour Surplus Economytrue
- 2Capital Surplus Economyfalse
- 3Developed Economyfalse
- 4Developing Economyfalse
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Answer : 1. "Labour Surplus Economy"
Explanation :
Expl:- Labour Intensive Technique will be chosen in Labour Surplus Economy because in such economy labour cost is low.