Quiznetik

General Economics 2 | Set 1

1. Trade as an engine of growth was propounded by :

Correct : B. Nurkse

2. A decrease in the domestic currency price of foreign currency is:

Correct : B. Appreciation

3. Normal rate quoted in foreign exchange market is:

Correct : C. Exchange rate

4. Balance of payment consist of:

Correct : D. All of the above

5. Invisible item are the part of ‐‐‐‐‐‐ account of balance of payment.

Correct : A. Current

6. Devaluation of currency may result in:

Correct : A. Increase in export

7. Balance of payment take in to account:

Correct : C. Both visible and invisible item

8. A fall in the price of Rupee in terms of foreign exchange is termed as:

Correct : A. Depreciation

9. Transaction in travel, transportation and insurance between countries is included under:

Correct : C. Invisibles

10. Which of the following transaction is debit in balance of payment;

Correct : D. Gift to foreigners

11. Which is the component of capital account of balance of payment:

Correct : B. Portfolio investment

12. Under fixed exchange rate system, when domestic currency is moved to a higher parity in terms of vehicle currency is:

Correct : D. Revaluation

13. Which one of the following is correct when there is under valuation of domestic currency:

Correct : A. Encouraging exports and inflow of capital

14. In balance of payment , if current account registers a deficit, the capital and financial account must register a:

Correct : C. Surplus

15. In all balance of payment accounts, there are a fictitious head of account called:

Correct : D. Errors and omissions

16. Balance on merchandise and service trade is called:

Correct : C. Current account

17. When demand for US dollars increases under flexible exchange rate system, then:

Correct : C. Both A and B

18. An economic transaction is entered in the balance of payment as a credit, if it leads to:

Correct : A. Receipt of payment from foreigners

19. Remittances foe abroad is included in which account of balance of payment:

Correct : A. Current account

20. Assertion (A) : Devaluation in general is resorted to increase the exports. Reason (R) : It makes exports cheaper.

Correct : A. Both (A) and (R) are correct

21. The continuous deficit in the balance of payments of India is due to

Correct : D. All of the above

22. The ongoing weakening of Rupee against Dollar will cause

Correct : A. Indian exports to US will rise

23. If the Rupees per Dollar($) exchange rate changes from Rs 44 to 46 in an year by the market force, it implies

Correct : A. Appreciation of $

24. Public finance is said to be:

Correct : A. Science of income and expenditure

25. All the accounts of public authority are subject to:

Correct : B. Audit and inspection

26. Price revenue is popularly known as:

Correct : C. Commercial revenue

27. Who propounded the doctrine of sound finance:

Correct : B. Classical Economists

28. The basic principle of Public Finance is:

Correct : A. Maximum social advantage

29. A tax is:

Correct : C. Compulsory Contribution with no direct benefit.

30. Which of the following are direct taxes:

Correct : D. All of the above.

31. From the following which is not a direct tax:

Correct : A. Tax income

32. The name of indirect tax is:

Correct : A. Sales tax

33. Taxes raised are credited into:

Correct : B. Consolidated Fund

34. All taxes come under:

Correct : C. Revenue receipts

35. Who favoured an unbalanced budget:

Correct : B. Keynesian economists

36. The concept of functional finance was first developed by:

Correct : C. A.P. Lerner

37. Deficit budgeting should be resorted to at a time of:

Correct : B. Depression

38. Fiscal policy is related to:

Correct : A. Public revenue and expenditure

39. “The Law of Increase of state Activities” was explained by:

Correct : C. Adolph Wagner

40. The Critical limit Hypothesis was explained by:

Correct : C. Colin Clark

41. Public debt implies loans raised by a government:

Correct : C. Both (a) and (b)

42. Who is the chairman of the first finance commission?

Correct : A. KC.Neogi

43. Loans on projects yielding income is:

Correct : A. Productive

44. When income of the government is greater than its expenditure, the budget is:

Correct : B. surplus

45. Chairman of the Thirteenth Finance Commission is:

Correct : C. Vijay Khelkar

46. Chairman of the Finance Commission is appointed by:

Correct : B. President

47. When income and expenditure of the government are equal, the budget is:

Correct : C. balanced

48. Budget is presented in the Parliament as per:

Correct : B. Article 112

49. The largest contributing sector to GDP at the time of independence in India is:

Correct : A. Agriculture

50. The contribution of Primary sector to GDP in 2011‐12 is:

Correct : A. 13.9

51. The average annual growth rate of agriculture realized in the 11th Five Year Plan:

Correct : B. 3.3%

52. The targeted growth rate of agriculture in the 11 th Five Year Plan:

Correct : C. 4%

53. The largest employment providing sector in Indian economy at present is:

Correct : A. Agriculture

54. According to 2010‐11 estimates the percent of people worked with agriculture is:

Correct : B. 52.1%

55. Which one is the least important exportable item of agriculture sector?

Correct : D. Vegetables

56. The contribution of Industrial sector to GDP in 2011‐12 is:

Correct : C. 27%

57. Who is considered as the Father of Indian Green Revolution?

Correct : C. M.S. Swaminathan

58. Green Revolution takes place in the year:

Correct : C. 1966

59. High Yielding Varieties Programme was launched in:

Correct : A. 1966.

60. Intensive Agricultural District Programme was introduced as a pilot project in:

Correct : A. 1960‐61

61. HYV is related mainly with the input of agriculture:

Correct : B. Seeds

62. The apex institution in agriculture credit is :

Correct : C. NABARD

63. Food Corporation of India was established in the year:

Correct : C. 1965

64. The Green Revolution is otherwise known as :

Correct : C. Wheat Revolution

65. The Green Revolution does not increase the production of :

Correct : D. Pulses

66. The Green Revolutionin India is mainly centered

Correct : D. Punjab

67. The ‘Permanent Settlement Act’ was introduced in India in:

Correct : A. 1793.

68. Which is the least oppressive system of land tenure in India?

Correct : C. Ryotwari system

69. The major parts of the land area covered by the land tenure system is:

Correct : B. Mahalwari System

70. The first Industrial Policy Resolution was passed in India in:

Correct : A. 1948.

71. Which plan is known as Industrial Plan?

Correct : B. Second

72. The latest Index of Industrial Production(IIP) is based on:

Correct : A. 2004‐05

73. Which is the largest contributing sector to India’s GDP?

Correct : C. Service

74. The contribution of service sector to GDP in 2011‐12 is:

Correct : C. 56.3%

75. Which productive sector shows highest growth rate in India in 2011‐12

Correct : C. Service

76. The growth rate of service sector in 2011‐12 is:

Correct : B. 9.4%

77. In the service sector which subsector shows highest growth rate?

Correct : A. Trade, hotels and restaurants

78. Economic reforms were first introduced in India in:

Correct : C. 1991

79. The most important paradox in the Kerala economy is;

Correct : B. Development without growth

80. Kerala was top in the production of:

Correct : C. Rubber

81. The total land area of Kerala is:

Correct : D. 38,863 Sq Km

82. In the size of land area Kerala was in the :

Correct : C. 21st position.

83. According to the national HDR 2011 Kerala’s HDI value is:

Correct : A. 0.79

84. According to the national HDR 2011 Kerala’s HDI rank is:

Correct : A. 1st

85. According to the 2011 census Kerala’s population is;

Correct : B. 3,33,87,677

86. Infant Mortality rate in Kerala according to the 2011 census is:

Correct : C. 13

87. The growth rate of Kerala economy in 2010‐11 is:

Correct : D. 9.13

88. The growth rate of per capita income in the Kerala economy in 2010‐11 is:

Correct : D. 8.33

89. The contribution of the tertiary sector to the Kerala economy in 2010‐11 is:

Correct : D. 68.81

90. The largest contributor to the state economy in 2010‐11 is:

Correct : C. Tertiary

91. The Kerala Land Reforms Act was passed in the year:

Correct : A. 1963

92. The Kerala state was formed in:

Correct : C. 1956

93. The Kerala Panchayat Raj Act was enacted by the UDF government in:

Correct : A. 1995

94. The initial name of the decentralized planning in Kerala is:

Correct : A. People's Plan Campaign

95. The People's Campaign for Decentralized Planning was formally inaugurated on:

Correct : C. 17th August 1996

96. Which is referred as the heath paradox in Kerala:

Correct : B. Good health at low cost

97. The Couple protection rate in Kerala according to the 2011 estimates:

Correct : A. 62.3%

98. The District Primary Education Program (DPEP) introduced in the State during:

Correct : A. 1994‐95

99. The literacy rate of Kerala in 2011:

Correct : C. 93.91

100. The district with largest number of out‐migrants from Kerala is:

Correct : C. Palakkad