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National Economy of India - General Knowledge Multiple Choice Questions and Answers

Questions
1 The symbol of Reserve Bank of India is
A Tiger before a Palm tree
B Capitol of Asokan Pillar
C Kuber with a purse of money
D A Dog sitting in a defensive state

Answer: Option [A]
2 The achieve high rates of growth of national output, the economy has to
A Borrow foreign capital
B Step up the rate of savings
C Reduce the rate of growth of population
D Increase the rate of investment and reduce the capital output ratio

Answer: Option [D]
3 National income refers to
A Money value of stocks and shares of a country during a year
B Money value of capital goods produced by a country during a year
C Money value of consumer goods produced by a country during a year
D Money value of goods and services produced in a country during a year

Answer: Option [B]
4 Why did the Government ban the import of “Terminator seeds”?
A To contain a virus which can destroy local crops
B These seeds multiply at very slow rates
C These seeds are injurious to human and animal health
D These seeds contain genetically engineered properties to prevent further multiplication

Answer: Option [D]
5 Merchant Banking is an institution which provides finances to:
A International trade among countries
B Domestic retail trade among
C International aid agencies
D Domestic whole sale trade

Answer: Option [A]
6 Which amidst the following taxes collected by the Union is NOT mandated to be assigned to the States?
A Service Tax
B Taxes on consignment of goods
C Taxes on railway fares and freights
D Terminal taxes on goods or passengers carried by railway, sea or air

Answer: Option [A]
7 Inflation is caused by:
A Increase in supply of goods
B Decrease in money supply
C Increase in money supply
D Increase in cash with the government

Answer: Option [C]
8 Open market operation refers to
A Purchase and sale of Government securities by the R.B.I.
B Purchase and sale of bounds and securities by the Central Govt.
C Borrowing by commercial banks from the R.B.I.
D Lending by scheduled banks to non-scheduled banks

Answer: Option [A]
9 What is the main function of Central Statistical Organisation (CSO)?
A Determination of money supply
B Price determination
C Collection of estimates of national income
D Collection of detail data regarding employment

Answer: Option [C]
10 What does National Income mean?
A The total value of all consumer goods produced in the country during a period of one year
B The total value of all capital goods produced in the country during a period of one year
C The total value of all stocks and shares in the country during a period of one year
D The total value of all goods and services produced in the country during a period of one year

Answer: Option [D]

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