The basic characteristics of an underdeveloped economy is
unemployment✔X
low productivity✔X
low per capita income✔X
high illiteracy level✔X
2/50
Uncertain income in any enterprise is
rent✔X
wages✔X
interest✔X
profit✔X
3/50
The volume of Savings in a country depends upon the level of
natural wealth✔X
national income✔X
development of industries✔X
employment✔X
4/50
The per capita income is
National income X population✔X
population/(National Income)✔X
(National Income)/Population✔X
none of these✔X
5/50
The second nationalization of banks took place in India in the year
1969✔X
1979✔X
1975✔X
1980✔X
6/50
Consider the following statements: Assertion(A): India is one of the leading Industrial countries the developing countries. Reason(R): Government of India has neglected altogether the traditional craft Industries. Now select your answer using the codes scheme given below:
Both (A) and (R) are true and (R) is the correct explanation of (A)✔X
Both (A) and (R) are true and (R) is not the correct explanation of (A)✔X
(A) is true but (R) is false✔X
(A) is false but (R) is true✔X
7/50
“FERA” stands for
Foreign Exchange Regulation Act✔X
Foreign Exchange Restrictions Act✔X
Foreign Exchange Reserve Act✔X
All of these✔X
8/50
“Economic Planning” refers to
increasing the tax revenue✔X
allocation of resources✔X
proper planning to utilize manpower✔X
exploitation of tax revenue and manpower✔X
9/50
The total number of nationalized banks in India is
14✔X
16✔X
17✔X
20✔X
10/50
Octrol refers to
Tax✔X
Agriculture✔X
Industry✔X
none of these✔X
11/50
The committee on the Financial System to trace the ills of public sector banks was headed by
Dr. Man Mohan Singh✔X
Dr. Ranganathan✔X
Dr. Narasimha✔X
Dr. Raja Chelliah✔X
12/50
The main and final aim of Land Reform is
abolition of intermediaries✔X
fixing ceiling on land holding✔X
fixation of fair rent✔X
making tillers as the owners of the soil✔X
13/50
What is the target growth rate as envisaged in the Ninth Five Year Plan?
5.5%✔X
6%✔X
7%✔X
8%✔X
14/50
Ninth Five Year Plan period is between
1996 – 2001✔X
1997 – 2002✔X
1998 – 2003✔X
1999-2004✔X
15/50
Human Resource Development was recognized as the core of all developmental efforts in
the Second Five Year Plan✔X
the Fifth Five Year Plan✔X
the Sixth Five Year Plan✔X
the Eighth Five Year Plan✔X
16/50
Which is not related to Industries?
SIPCOT✔X
CIPKO✔X
TANSITIA✔X
SIDCO✔X
17/50
Which is not a fibre material?
Jute✔X
Silk✔X
Flax✔X
Rubber✔X
18/50
In India, Policy of Population Control was introduced in
1951✔X
1961✔X
1971✔X
1947✔X
19/50
National Income is
income of the Central Government✔X
income of the Central and State Government✔X
total of factor incomes✔X
profits of the public sectors✔X
20/50
A serious effort to tackle the problem of poverty began with
First Five Year Plan✔X
Second Five Year Plan✔X
Fourth Five Year Plan✔X
Seventh Five Year Plan✔X
21/50
In which plan was the growth rate target exceeded?
First✔X
Second✔X
Sixth✔X
Seventh✔X
22/50
Consider the following statements: Assertion(A): Indian Economy is a developing economy Reason(R): India has disguised unemployment
Both (A) and (R) are true and (R) is the correct explanation of (A)✔X
Both (A) and (R) are true and (R) is not the correct explanation of (A)✔X
(A) is true but (R) is false✔X
(A) is false but (R) is true✔X
23/50
Reserve Bank of India issues all currency notes except
one-rupee note✔X
two-rupee note✔X
five-rupee note✔X
ten-rupee note✔X
24/50
The Central Bank of our country is the
Reserve Bank of India✔X
State Bank of India✔X
Central Bank of India✔X
Indian Bank✔X
25/50
Consignment account is the nature of
real account✔X
personal account✔X
nominal account✔X
profit and loss account✔X
26/50
“Grapevine” is a term used in relation to
formal communication✔X
informal communication✔X
both formal and informal communication✔X
informal motivation✔X
27/50
“Horlicks” is a __________ name.
material✔X
brand✔X
institution✔X
company✔X
28/50
Advertising creates a
brand loyalty✔X
quality of the product✔X
purchasing capacity✔X
none of these✔X
29/50
Match List I with List II correctly and select your answer using the codes given below: List I List II Inflation 1. Controlled inflation Deflation 2. Money supply increases Stag flation 3. Money supply decreases Reflation 4. Rise in price without growth
4 1 2 3✔X
1 2 3 4✔X
2 3 4 1✔X
3 4 1 2✔X
30/50
Consider the following statements: 1.means Voluntary Disclosure of Income Scheme.2.was introduced in 1997.3.helped the tax evaders to declare undisclosed income of over Rs.33,000 crores.4.helped the Government to get a tax of more than Rs. 10,050 crores
I and II are correct✔X
I,II and III are correct✔X
I,III and IV are correct✔X
All are correct✔X
31/50
All losses and expenses are
debited✔X
credited✔X
both debit and credit✔X
no entry✔X
32/50
The basic function of an economy is
consumption✔X
production✔X
investment✔X
all these✔X
33/50
Consider the following statements: Assertion(A): Demand curve normally slopes down wards. Reason(R): Demand for goods increases when price increases.
Both (A) and (R) are true and (R) is the correct explanation of (A)✔X
Both (A) and (R) are true and (R) is not the correct explanation of (A)✔X
(A) is true but (R) is false✔X
(A) is false but (R) is true✔X
34/50
Black money refers to
paper money which is black in colour✔X
money earnings from business✔X
unaccounted money✔X
none of these✔X
35/50
Recent Tax reforms in India are based on the
Rajah J.Chelliah Committee report✔X
Chocksi Committee report✔X
Wanchoo Committee report✔X
Raj Committee report✔X
36/50
Dunkel proposal is related to
patent right✔X
fundamental right✔X
human right✔X
none of these✔X
37/50
The programme IRDP is connected with
Industry✔X
Transport✔X
Villages✔X
Trade✔X
38/50
The period of Ninth Five Year Plan is
1997-2002✔X
1996-2001✔X
1998-2003✔X
1999-2004✔X
39/50
Expenditure on defence is an item of
Public welfare investment✔X
Security of the nation✔X
Government’s duty✔X
Development✔X
40/50
When did RBI become a state owned institution?
1947✔X
1949✔X
1952✔X
1956✔X
41/50
Consumers surplus is
Surplus consumer✔X
Consumers surplus profit✔X
Surplus product✔X
Surplus satisfaction✔X
42/50
Free trade zone is
Kandla port✔X
Mumbai port✔X
Vishakhapatnam port✔X
Cochin port✔X
43/50
National Renewel Fund was constituted in
1990✔X
1992✔X
1994✔X
1996✔X
44/50
The item that earns the maximum foreign exchange for India is
leather and leather goods✔X
spices✔X
medicines✔X
rice✔X
45/50
SIDCO was established in
1950✔X
1952✔X
1954✔X
1956✔X
46/50
Fourth Five Year Plan period was
1966-71✔X
1968-73✔X
1969-74✔X
1970-75✔X
47/50
Consider the following statements: 1.India is a developing economy 2.India is the second stage of demography 3.India ranks second among the highly populated countries 4.India stands first in Industrial production.
I alone is correct✔X
I and II alone is correct✔X
I,II and III are correct✔X
All are correct✔X
48/50
Match List I with List II correctly and select your answer using the codes given below: List I List II 1.Adam Smith 1. Rent 2.Marshall 2. Employment 3.Ricardo 3. Wealth 4.Keynes 4. Equilibrium
1 2 3 4✔X
2 1 4 3✔X
4 2 1 3✔X
3 4 1 2✔X
49/50
Some portion of the capital which can be called up only on the winding up of accompany is called
paid up capital✔X
called up capital✔X
reserve capital✔X
capital reserve✔X
50/50
The minimum number of members who must be present for transacting the business at a meeting is called
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