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Banking Awareness - Multiple Choice Questions (MCQs) and Answers for IBPS Exam | Page-3

(21) Which of the following is a major concept frequently referred in the economic literature of Nobel laureate Dr. Amartya Sen?
[A] Capability to function
[B] Corporate ethics
[C] Negative freedom
[D] Positive freedom
[E] Welfare economics

Comment

Answer: Option [E]
(22) What Gross Domestic Product?
[A] It is the market value of all final goods and services made in the country
[B] It is the cost production of all final goods and services made in the country
[C] It is the cost of services made within the borders of a country in a year
[D] It is the market value of all final goods and services made within the borders of a country in a year
[E] None of the above

Comment

Answer: Option [D]
(23) Refinance facility is provided by NABARD. Which institutions can avail this facility?
[A] Commercial bank
[B] Regional rural banks
[C] State cooperative banks
[D] State Agricultural Development Finance Companies (ADFCs)
[E] All of the above

Comment

Answer: Option [E]
(24) The largest share of Gross Domestic Product (GDP), in India comes from
[A] Service sector
[B] Defense and allied sector
[C] Agriculture and allied sector
[D] Manufacturing and construction
[E] Defense and public administration

Comment

Answer: Option [A]
(25) Gross Domestic Product (GDP) is defined as the value of all
[A] Goods and services in an economy in a year
[B] Goods produced in an economy in a year
[C] Final goods and service produced in an economy in a year
[D] Final goods produced in economy in an economy in a year
[E] None of the above

Comment

Answer: Option [C]
(26) Intermediate goods are not included from GDP because
[A] Their inclusion would understate GDP
[B] Their inclusion would involve double counting
[C] Value of intermediate goods is unknown
[D] They represent goods that have never been purchased so they cannot by counted
[E] The premise of the question is incorrect because intermediate goods are directly included in calculating GDP

Comment

Answer: Option [B]
(27) The GDP is the value of all final goods and services produced
[A] Within the nations boundaries
[B] By citizen of the country
[C] By domestically owned companies
[D] By domestically controlled companies
[E] None of the above

Comment

Answer: Option [A]
(28) Which of the following is one the indicators of Human Development Index
[A] Life expectancy at birth
[B] Total cost of the agricultural land with a family
[C] Nature of employment, casual permanent or semi-permanent
[D] Total area of the agricultural land with a family
[E] None of the above

Comment

Answer: Option [A]
(29) In economic terms, the total market value of all final goods and services produced in a country in a given year is known as
[A] PPP
[B] GDP
[C] GNI
[D] INFLATION
[E] wealth of a nation

Comment

Answer: Option [B]
(30) The higher rate of growth of economy certainly reduces
[A] population of country
[B] Gender inequalities
[C] poverty
[D] flow of foreign direct investment
[E] None of the above

Comment

Answer: Option [C]

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