MCQ on Indian Economy
The earlier name of WTO was:
- UNCTAD
- GATT
- UNIDO
- OECD
Explanation: General Agreement on Trade and Tariffs (GATT) under the Marrakesh Agreement. The World Trade Organization (WTO) began journey on 1 January 1995.
From the following statements pertaining to the World Economic Forum (WEF), find the correct
statement(s) :
(i) The WEF is a platform under the International Monetary Fund (IMF).
(ii) The WEF is an independent department of the World Bank.
(iii) The WEF is an International Organization for Public-Private Cooperation.
(iv) The WEF was established in 1971 as a not-for-profit foundation and is headquartered in Geneva, Switzerland.
Select the correct answer using the codes given below.
- Only (1)
- Only (ii)
- Only (iii) and (iv)
- Only (ii) and (iii)
Explanation:
If the Cash Reserve Ratio (CRR) is lowered by the RBI, its impact on credit creation will be to :
- decrease it
- increase it
- No impact
- None of these
Explanation:
Government imposes taxes to:
- run the machinery of State
- uplift of weaker sections
- check the accumulation of wealth among the rich
- None of the above
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
Explanation:
Where is the headquarter of Reserve Bank of India (RBI) situated ?
- Chennai
- New Delhi
- Kolkata
- Mumbai
Explanation: Established in Calcutta but shifted to Mumbai in 1937.
Find out the statement which is false. Financial Structural reform needs
- fall in government budget deficit
- increase in profitability of economic sectors
- reduce inflationary pressure
- increase in the balance of payment deficit
Explanation:
The Gandhian economy is based on the principle of:
- Competition
- Trusteeship
- State Control
- None of the above
Explanation:
Gilt-edged market means:
- Market of government securities
- Bullion market
- Market of commodities
- Market of pure metals
Explanation:
The period of high inflation and low economic growth is termed as:
- Stagnation
- Take-off stage in economy
- Stagflation
- Depression
Explanation: