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MCQ on Indian Economy

Existence of huge black money creates

  • increase in the inequality of income
  • decrease in the quality of output
  • high living standard for all
  • Both (B) and (C)
    • Correct Option: A  [ increase in the inequality of income ]

    Explanation:

Who was the first Governor of Reserve Bank of India (RBI)?

  • C D Deshmukh
  • Sir Osborne Smith
  • James Braid Taylor
  • Benegal Rama Rau
    • Correct Option: B  [ Sir Osborne Smith ]

    Explanation: from 1935 to 1937

Which of the following is not an asset held by the commercial bank ?

  • Bills of exchange
  • Current account deposits
  • Money lent at short notice
  • Credit balances with the Reserve Bank
    • Correct Option: B  [ Current account deposits ]

    Explanation:

Prime Minister Jan Dhan Yojana provides free Accident Insurance upto :

  • Rs. 1 lac
  • Rs. 1.5 lacs
  • Rs. 2 lacs
  • Rs. 2.5 lacs
    • Correct Option: A  [ Rs. 1 lac ]

    Explanation:

If withdrawal of a worker from employment does not create any output loss, this situation is known as

  • Search unemployment
  • Voluntary unemployment
  • Disguised unemployment
  • Frictional unemployment
    • Correct Option: C  [ Disguised unemployment ]

    Explanation:

The earlier name of WTO was:

  • UNCTAD
  • GATT
  • UNIDO
  • OECD
    • Correct Option: B  [ GATT ]

    Explanation: General Agreement on Trade and Tariffs (GATT) under the Marrakesh Agreement. The World Trade Organization (WTO) began journey on 1 January 1995.

Who wrote the book Planned Economy for India?

  • Jawaharlal Nehru
  • Indira Gandhi
  • M. Visvesvaraya
  • Mahatma Gandhi
    • Correct Option: C  [ M. Visvesvaraya ]

    Explanation:

Which of the following products of Tripura ranks Second in all India level in terms of production ?

  • Paddy
  • Bamboo
  • Natural gas
  • Natural rubber
    • Correct Option: D  [ Natural rubber ]

    Explanation:

The period of high inflation and low economic growth is termed as:

  • Stagnation
  • Take-off stage in economy
  • Stagflation
  • Depression
    • Correct Option: C  [ Stagflation ]

    Explanation:

What is hard currency?

  • A stable currency
  • Arranged in war time
  • Issued by IMF
  • Given by RBI to foreign banks
    • Correct Option: A  [ A stable currency ]

    Explanation:
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