Economy compilation from different exams

Economy compilation from different exams

1:- The Most Favoured Nation (MFN) Clause under WTO regime is based on the principle of -
A. non-discrimination between nations
B. discrimination between nations
C. differential treatment between locals and foreigners
D. uniform tariff across commodities

Ans:- non-discrimination between nations. (A)

2:- Which one of the following indices is now used by the Reserve Bank of India to measure the rate of inflation in India?
B. BSE Index
C. Consumer Price Index
D. Wholesale Price Index

Ans:- Consumer Price Index . (C)

3:- Amartya Sen was awarded the Nobel Prize for his contribution to -
A. Monetary Economics
B. Welfare Economics
C. Environmental Economics
D. Development Economics

Ans:- Welfare Economics. (B)

4:- Arrange the following events in sequential order as they happened in India:
1. Mahalanobis Model
2. Plan Holiday
3. Rolling Plan
Select the correct answer using the code given below.
A. 1, 2, 3                                  B. 3, 2, 1
C. 2, 3, 1                                  D. 1, 3, 2

Ans:- 1, 2, 3.  (A)

5:- The monetary policy in India uses which of the following tools?
1. Bank rate
2. Open market operations
3. Public debt
4. Public revenue
Select the correct answer using the code given below.
A. 1 and 2 only                    B. 2 and 3 only
C. 1 and 4 only                    D. 1, 2, 3 and 4

Ans:- 1 and 2 only. (A)

6:- Devaluation of currency will be more beneficial if prices of
 A. domestic goods remain constant
B. exports become cheaper to importers
C. imports remain constant
D. exports rise proportionately

Ans:- exports become cheaper to importers. (B)

7:- The phenomenon of ‘demographic dividend’ of a country relates to
A. a sharp decline in total population
B. an increase in working age population
C. a decline in infant mortality rate
D. an increase in sex ration

Ans:- an increase in working age population . (B)

8:- In India, the base year of the new GDP series has been shifted from 2004-05 to
A. 2007-08
B. 2008-09
C. 2010-11
D. 2011-12

Ans:- 2011-12. (D)

9:- Match List-I with List-II and select the correct answer using the code given below the Lists:
List – I
List – II
(Type of Deficit)
A. Fiscal Deficit
1. Total Expenditure-Revenue Receipts & Non-debt Capital Receipts
B. Revenue Deficit
2. Revenue Expenditure-Revenue Receipts
C. Effective Revenue Deficit
3. Revenue Deficit-Grants for Creation of Capital Assets
D. Primary Deficit
4. Fiscal Deficit-Interest Payments

 Ans:- The above match is correct.

10:- Who among the following scholars argued that “capital created underdevelopment not because it exploited the underdeveloped world, but because it did not exploit it enough”?
A. Bill Warren
B. Paul Baran
C. Geoffrey Kay
D. Lenin

Ans:- Geoffrey Kay. (C)

11:- UBI, as an alternative for subsidies in poverty alleviation, stands for
A. Union Basic Income
B. Undefined Basic Income
C. Unconditional Basic Income
D. Universal Basic Income

Ans:- Universal Basic Income. (D)

Economy compilation from different exams Economy compilation from different exams Reviewed by GK Scientist on January 08, 2020 Rating: 5

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