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Q1. Which one of the following Five Year Plans recognised human development as the core of all developmental efforts?

The Third Five Year Plan

The Fifth Five Year Plan

The Sixth Five Year Plan

The Eighth Five Year Plan.

Q2. Which of the following are the objectives of the Commission for Agricultural Costs and Prices (CACP)? (1) To stabilise agricultural prices (2) To ensure meaningful real income levels to the farmers (3) To protect the interest of the consumers by providing essential agricultural commodities at reasonable rates through public distribution system. (4) to ensure maximum price for the farmer.

1,2 and 3

1,2 and 4

1,3 and 4

2,3 and 4

Q3. As part of the liberalisation programme and with a view to attract foreign exchange the government and the RBI have devised two schemes known as FCNR 'A' and FCNR 'B'. Which of the following is/are true regarding these two schemes? (1) Under Scheme 'A' RBI bears exchange rate fluctuations (2) Under Scheme 'B" other banks are to meet out the difference in exchange rate fluctuations. (3) Both the schemes stand withdrawn now. (4) Only scheme 'A" has been withdrawn.

3 only

1 and 2

1, 2 and 3

1,2 and 4

Q4. To know whether the rich are getting richer and the poor getting poorer, it is necessary to compare

the wholesale price index over different periods of time for different regions

the distribution of income of an indentical set of income recipients in different periods of time

the distribution of income of different sets of income recipients at a point of time

the availability of foodgrains among the two sets of people, one rich and the other poor, over a different periods of time.

Q5. The main function of the International Monetary Fund is to

arrange international deposits from banks

help to solve balance of payments problems of member countries

act as a private sector lending arm of the World Bank

Finance investment loans to developing countries

Q6. Which one of the following about the Dunkel draft is/are correct? (1) It is mandatory for the Government of India to accept all its proposals in all the sectors (2) In the field of agriculture, the main proposal is to cut agricultural subsidies (3) In the field of textiles, it reiterates the operation of the multifibre agreement (4) The proposals have already been accepted by the Parliament

1 only

1 and 2 only

1, 2 and 4 only

3 and 4 only

Q7. ASSERTION {A}: The USA reemerged as India's single largest import source in the early nineties. REASON {R}: With swift political developments in the erstwhile Soviet Union, India gradually began to rely on the USA for its defence requirements.

Both A and R are individually true and R is the correct explanation of A

Both A and R are individually true and R is not the correct explanation of A

A is true but R is false

A is false but R is true.

Q8. The difference between the GNP and NNP is equal to the .....

consumer expenditure on durable goods

direct tax revenue

indirect tax revenue

capital depreciation

Q9. The first to start a joint stock company trade with India were the

Portuguese

Dutch

French

Danish

Q10. The belief that economic growth will percolate down to all sectors was known as ........

Trickle Down

Decentralised growth theory

Dispersal theory

none of these

Q11. Which of the following are the purposes for which the National Renewal Fund has been set up? (1) To restructure sick small scale industries (2) To help workers likely to be displaced due to retrenchment in the process of industrial restructuring (3) to modernise existing industrial units. (4) to help refugees from Bangladesh, Sri Lanka etc.,

1 and 2

1 and 3

1 and 4

2 and 4

Q12. Earnings through Diamond export is high in our country. Which one of the following factors has contributed to it?

pre independence stock piling of diamonds in the country which are now exported

large production of industrial diamonds in the country

expertise available for cutting and polishing of imported diamonds which are then exported

as in the past, India produces huge quantity of gem diamonds which are exported.

Q13. Euro dollars are ....

a currency issued by European Monetary Union

Speciala currency issued by federal government of USA to be used only in Europe

US dollars circulating in Europe

European currencies exchanged for the US dollars in US.

Q14. Which one of the following type of borrowings from the IMF has the softest servicing conditions?

Second Tranche loan

SAF -- sustainable aviation fuel

ESAF -- enhanced structural adjustment facility

oil facility

Q15. When partial convertibility obtains, the exchange rate is

a weighted average

a simple average

fully floating

fully administered

Q16. Which one of the following sets of economists strongly favoured a market economy?

Adam Smith, Keynes, Hicks

Adam Smith, Mrx, Strumlin

Adam Smith, Hayek, Friedman

Adam Smith, Ricardo, J K Galbraith

Q17. The nature of "usual status unemployment" is

seasonal

disguised

chronic

frictional

Q18. "Most Favoured Nations" clause under GATT implies......

Most favour to some countries

Most Favour to all countries

No favour to any country

No favour to some countries

Q19. The basic difference between imperative and indicative planning is that

in the case of the imperative planning the market mechanism is entirely replaced by a command hierarchy, while in the case of indicative planning, it is looked upon as a way to improve the functioning of the market system

in the case of indicative planning there is no need to nationalise any industry

in the case of imperative planning all economic activities belong to public sector, while in the other type they belong to the private sector.

it is easier to achieve targets in imperative type of planning.

Q20. Which one of the following modes of privatisation is the most comprehensive and complete?

introduction of private capital in public sector

contracting out management of public enterprises to the private sector

transferring ownership and management to the workers

transferring ownership and management to the private sector.

Q21. The definition of a small scale industry is based on

the market outreach of a unit

the size of the sales of a unit

the fact whether the products manufactured fall in a list drawn up by the Ministry of Industry

the value of the plant and machinery investment in a unit

Q22. Which one of the following institutions providing finance to the industrial sector was the first to be set up?

Industrial Reconstruction Corporation of India

Industrial Finance Corporation of India

Industrial Credit and Investment Corporation of India

Industrial Development Bank of India

Q23. Which one of the following is NOT TRUE regarding the trends during and after the Seventh Five Year Plan process in India?

During this period, gross domestic product (GNP) grew at an average rate of 5.6 per cent per year

Food grain production grew by 3.23 per cent

to reduce unemployment and consequently the incidence of poverty, special programmes like Jawahar Rojgar Yojana was initiated

Major objectives of the plan were to achieve self reliance and adopt measures for raising consumption standard of people living below the poverty line.

Q24. Invisible trade is a trade

of corporate and financial institutions with government

of government with public institutions

of government with other countries

of the services like the banks, marine companies and shipping companies.

Q25. "Terms of Trade" between agriculture and industry has reference to

relative price movements between the two sectors

relative quantities of production in the two sectors

the extent of trade existent between the two sectors

relative international valuation of the agricultural produce in contrast to the industrial produce

Q26. A 'deflator' is a technique of ....

adjusting for changes in price level

adjusting for change in commodity

accounting for decline of GNP

accounting for higher increase of GNP

Q27. AGMARK is ....

a cooperation institution for egg production and other egg related products

regulated agricultural market

farmer's cooperative

a quality control stamp on agreecultural products.

Q28. A common currency for the members of the Common Market in Europe is known as ....

Dollar

Franc

Eurodollar

Pound

Q29. The main watchdog of international trade is

International Monetary Fund

World Bank

General Agreement on Tariffs and Trade

International Finance Corporation

Q30. The data collection for national income estimation in India is done by;

National Sample Survey Organisation

Finance Ministry

Central Statistical Institute/Organisation

Indian Statistical Institute

Q31. Of the various sources of income to the Gram Panchayats, one source is

income tax

sales tax

professional tax

levy duties

Q32. Inflation tends to reduce the share of labour in the GNP (Gross National Product) because

wages lag behind prices

prices lag behind wages

profits lag behind prices

profits lag behind wages

Q33. The main source of financing the implementation of development programmes is

internal resources from taxes and other measures

external finance as borrowings/loans from foreign governments

external finance as loans from international finance agencies

external finance as loans from foreign governments and international finance agencies

Q34. Betterment levy is imposed by the government because.....

of the improvement in soil/land quality as a result of irrigational facilities provided by the government

of improved industrial production due to various infrastructural facilities provided by the government

of increased capacity utilisation due to electricity supplied by State Electricity Boards

Of increased raw material imports possible due to availability of foreign currency provided by the government

Q35. ASSERTION {A}: The ratio of direct taxes to gross domestic product has been falling in the recent years. REASON {R}: Unaccounted "Black Money" has grown rapidly.

Both A and R are individually true and R is the correct explanation of A

Both A and R are individually true and R is not the correct explanation of A

A is true but R is false

A is false but R is true.

Q36. "AGMARK" stamping approval is issued by the .....

Bureau of Indian Standards

Director General of Supplies and Disposals

Department of Marketing and Inspection

none of these

Q37. Zero based budgeting lays emphasis on (1) Unlimited deficit financing (2) Preparing new Budget, right from the scratch (3) Preparing the Budget neglecting history of the expenditure

1,2 and 3

1 and 3

2 and 3

1 and 2

Q38. For the first time, under which plan, specific schemes for employment generation was evolved?

3rd Plan

4th Plan

5th plan

6th Plan

Q39. The structural changes in exports means

change in the commodities of export

increasing exports along with the imports

increasing imports

changes in the commodities of imports

Q40. The interest rate policy is a component of

Fiscal policy

Monetary policy

Trade Policy

Direct Control

Q41. Who among the following is a famous economist?

Max Muller

Macaulay

Gunnar Myrdal

Henry Francis Carry

Q42. Five Year Plan proposals are finalised by .....

National Development Council

Planning Comission

Union Finance Ministry

Union Ministry of Planning.

Q43. The rate of exchange of Indian rupee is linked with

Dollar

Sterling/Pound

A basket of foreign currencies

Yen

Q44. Identify the period which was declared as "Plan Holiday Period"?

1965..1968

1966..1969

1967..1970

1978..1980

Q45. An 'ad valorem duty' is a tax on the basis of

the price of a commodity

the value added

the advertisement expenditure

the unit of the commodity

Q46. Regional Rural Banks are designed to work in which one of the following ideals?

Work on basics of Commercial Banks

Help the targetted groups

keep lending rates lower than cooperative institutions

work on innovative and adaptive ideals

Q47. Which foreign bank has the largest number of branches in India?

City Bank

HSBC

Standard Chartered

Royal Bank of Scotland

Q48. Deficit financing means .....

different of total expenditure and income by revenue from all sources

government spends in excess of revenues so that a budget deficit is incurred which is financed by the borrowings.

difference in borrowing and external and internal resources

capital expenditure on items of public constructions, public enterprises and public borrowings.

Q49. Currency of a European country which was not revalued at the European Economic Summit was ......

Dutch Guilder

German Mark

French Franc

Danish Kroner

Q50. Lareget allocation in the Seventh Five Year Plan has been given to

Agriculture

Transport

Education

Energy

Answers Evaluate

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