Indian Economy-GK Practice MCQ Questions – 08 Posted on July 15, 2020September 21, 2020 by admin Question 1Redistribution polices geared to reduce economic inequalities include A. progressive tax policies B. land reforms C. rural development policies D. All the above Question 2The ARDC is now a branch of the A. RBI B. NABARD C. IDBI D. SDBI Question 3Short-term finance is usually for a period ranging up to A. 5 months B. 10 months C. 12 months D. 15 months Question 4If the RBI adopted an expansionist open market operations policy, this means that it will A. buy securities from non-government holders B. sell securities in the open market C. offer commercial banks more credit in the open market D. openly announce to the market that it intends to expand credit Question 5If utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process? A. Rs 1000 B. Rs 500 C. Rs 400 D. Rs 300 Question 6In India, which one among the following formulates the fiscal policy? A. Planning Commission B. Ministry of Finance C. Finance Commission D. The Reserve Bank of India Question 7Paper currency first started in India in A. 1861 B. 1542 C. 1601 D. 1880 Question 8The apex body for formulating plans and coordinating research work in agriculture and allied fields is A. State Trading Corporation B. Regional Rural Banks C. National Bank for Agriculture and Rural Development (NABARD) D. Indian Council of Agricultural Research Question 9Which of the following is not an undertaking under the administrative control of Ministry of Railways? A. Container Corporation of India Limited B. Konkan Railway Corporation Limited C. Indian Railways Construction Company Limited D. Diesel Locomotive Works, Varanasi Question 10The budget deficit means A. the excess of total expenditure, including loans, net of lending over revenue receipts B. difference between revenue receipts and revenue expenditure C. difference between all receipts and all the expenditure D. fiscal deficit less interest payments
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