The market in which loans of money can be obtained is called
(1) Reserve market
(2) Institutional market
(3) Money market
(4) Exchange market
Solution: (3)
Money market helps in securing short-term loans to meet working capital requirements through the system of finance bills, commercial papers, etc. it plays crucial role in financing both internal as well as international trade.
If the marginal return increase at a diminishing rate, the total return
(1) increases
(2) decreases
(3) remains constant
(4) becomes income
Solution: (2)
The question talks about marginal return increasing at diminishing rate which, in reality, is diminishing marginal return. In economics, the law of diminishing returns states: “If increasing amounts of a variable factor are applied to a fixed quantity of other factors per unit of time, the increments in total output will first increase but beyond some point, it begins to decline”. Richard A. Bilas describes the law of diminishing returns as: “If the input of one resource to other resources is held constant, total output will increase but beyond some point, the resulting output increases will become smaller and smaller.” So as the marginal return increases at diminishing rate, the total return will eventually decrease.
RRBs are owned by
(1) Central Government
(2) State Government
(3) Sponsor Bank
(4) Jointly by all of the above
Solution: (4)
RRBs are jointly owned by the Centre, the State Government concerned and sponsor banks, with the issued capital shared in the ratio 50:15:35, respectively. According to the RRB Act, 1976 the authorised capital of each such bank is Rs 5 crore and the issued capital, a maximum of Rs 1 crore
Which of the schemes of the Government of India makes Indian cities free from slums?
(1) Indira Awas Yojana
(2) Central Rural Sanitation Programme
(3) Rajiv Awas Yojana
(4) Antyodaya
Solution: (3)
Rajiv Awas Yojana (RAY) launched in 2011 envisages a “Slum Free India” with inclusive and equitable cities in which every citizen has access to basic civic infrastructure and social amenities and decent shelter. It aims to make India slum-free by 2022 by providing people with shelter or housing, free of cost. It was introduced by the Union Ministry of Housing and Alleviation
How many languages are there on language panel of Indian currency note?
(1)15
(2) 17
(3) 10
(4) 12
Solution: (1)
The question asks about Language Panel and NOT the whole note. So, Contemporary Currency notes have 15 languages on the panel which appears on the reverse of the note. Languages included on the panel are Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Telugu, and Urdu.
Which is one of the following languages in which the denomination is printed on the reverse of a contemporary Indian currency note.
(1) Burmese
(2) Sinhala
(3) Nepali
(4) Dzongkha
Solution: (3)
Nepali is one of the languages in which the denomination is printed on the reverse of a contemporary Indian currency note. The currency of Nepal is Nepalese rupee. There are 17 languages written on the Currency Note. 2 languages (Hindi and English) are written on the front side and 15 on the backside (Assamese, Bengali, Gujarati, Kannada, Kashmiri, Konkani, Malayalam, Marathi, Nepali, Odia, Punjabi, Sanskrit, Tamil, Telugu, Urdu). Contemporary Indian currency notes have 15 languages on the panel which appears on the reverse of the note.
Which of the following are used to calculate economic freedom of a country?
(1) Rule of Law, Regulatory Efficiency, Market Openness, Government Size
(3) Rule of Law, Inflation, Gross domestic product growth rate, Government Size
(4) Rule of Law, Regulatory Efficiency, Inflation, Foreign Direct Investment
Solution: (4)
The economic freedom of a country is calculated using the Economic Freedom Index that focuses on four key aspects of the economic environment over which governments typically exercise policy control: (1) Rule of law (property rights, freedom from corruption); (2) Government size (fiscal freedom, government spending); (3) Regulatory efficiency (business freedom, labor freedom, monetary freedom); and (4) Market openness (trade freedom, investment freedom, financial freedom).
Scheduled bank is a bank which is
(1) Nationalised
(2) Not Nationalised
(3) Based in foreign Country
(4) Included in the second schedule of RBI
Solution: (4)
A scheduled bank, in India, refers to a bank which is listed in the 2nd Schedule of the Reserve Bank of India Act, 1934. Banks not under this Schedule are called non-scheduled banks. Scheduled banks are usually private, foreign, and nationalized banks operating in India.
Economic Survey in India is published officially, every year by the:
(1) Reserve Bank of India
(2) NITI Aayog
(3) Ministry of Finance
(4) Ministry of Commerce
Solution: (3)
The Economic Survey of India is a flagship annual document of the Ministry of Finance, Government of India. It reviews the developments in the Indian economy over the previous 12 months, summarizes the performance on major development programs, and highlights the policy initiatives of the government and the prospects of the economy.
Which of the following tax systems will help to reduce economic inequalities in India ?
(1) Regressive Tax
(2) Progressive Tax
(3) Flat rate tax
(4) None of these
Solution: (2)
A progressive tax is a tax in which the tax rate increases as the taxable amount increases. Progressive taxes are imposed in an attempt to reduce the tax incidence of people with a lower ability to pay, as such taxes shift the incidence increasingly to those with a higher ability-to-pay. It reduces tax burdens on people who can least afford to pay them and is, thus, considered as effective in reducing economic inequalities.
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