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Economics Questions and Answers for Competitive Exams | Indian Economy Quiz Set 36

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Questions
1 Which one of the following is true for disguised unemployment ?
1 It has savings potential.
2 It has investment potential.
3 It is a source of expanding production.
4 It is a source of social unrest.

Answer: It has savings potential.
2 In the steady state growth situation in the Solow’s model of growth, the upper limit to growth would be determined by the growth rate of
1 Population
2 Capital
3 Output
4 Capital and output

Answer:Population
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3 A tax is said to be progressive, when the marginal rate of tax is
1 greater than the average rate
2 less than the average rate
3 equal to the average rate
4 equal to the marginal sacrifice

Answer:greater than the average rate
4 Methods of debt-redemption include
1 Capital levy
2 Sinking fund
3 Debt repudiation
4 All the above

Answer:All the above
5 Which of the following is related with optimum currency area ?
1 Optimal geographical area for a single currency.
2 Optimal geographical area for several currencies whose exchange rates are relatively pegged.
3 Single currency or the pegged currencies fluctuate jointly vis-à-vis other currencies.
4 All the above.

Answer:All the above.
6 Which one of the following is not included under WTO regulations ?
1 Removal of industrial licenses.
2 Removal of import tariffs.
3 Removal of foreign portfolio investments
4 Removal of price controls.

Answer:Removal of foreign portfolio investments
7 Which of the following statements is true ?
1 Asian financial crisis is generally considered to have started on July 2, 1997 with the devaluation of the Thai Baht.
2 Asian financial crisis is generally considered to have started on 2nd August, 1998 with the Russian’s crisis.
3 Brazil’s 1999 crisis is generally considered to be the main cause of Asian financial crisis.
4 All the above are true.

Answer: Asian financial crisis is generally considered to have started on July 2, 1997 with the devaluation of the Thai Baht.
8 Which of the following is true for European Union ?
1 All member countries have the Euro currency.
2 All member countries have the same defence policy.
3 There are no tariffs between member countries.
4 All member countries have the same taxation policy.

Answer:There are no tariffs between member countries.
9 When a nation imposes an import tariffs, the nation’s offer curve will
1 shift away from the axis measuring exports
2 move closer to the axis measuring exports
3 no shift will take place
4 None of the above

Answer:move closer to the axis measuring exports
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10 Market at which transaction will be consummated at some specified time in future is called
1 Spot market
2 Current market
3 Capital market
4 Forward market

Answer:Forward market
11 Capital adequacy ratio of all commercial banks in India is
1 below the required rate of 9 %
2 equal to the required rate of 9 %
3 well above the required rate of 9 %well above the required rate of 9 %
4 far below the required rate of 9 %

Answer:well above the required rate of 9 %
12 An stable population is characterised by
1 Constant birth rate
2 None of the above are true
3 Unchanging age structure
4 Both the above are true

Answer:Both the above are true
13 Which of the following is true for Net Reproduction Rate ?
1 It relates to average number of daughters born to a female.
2 It relates to the life span of a female.
3 Both (A) and (B) are true.
4 None of (A) or (B) are true.

Answer: It relates to average number of daughters born to a female.
14 Which option is true for population dividend to manifest ?
1 Population in the age group between 0-7 years is likely to increase.
2 Population in the age group between 8-15 years is likely to increase.
3 Population in the age group between 15-64 years is likely to increase.
4 Population in the age group above 65 years is likely to increase.

Answer:Population in the age group between 15-64 years is likely to increase.
15 Which one of the following is the correct sequence of development of sectors in India post-independence ?
1 Agriculture, Industry, Service
2 Service, Agriculture, Industry
3 Industry, Agriculture, Service
4 Agriculture, Service, Industry

Answer:Agriculture, Service, Industry

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