Competitive Exams: Economics MCQs (Practice-Test 16 of 122)

  1. Match List I with List II and select the correct answer:

    List-I List-II
    1. VKRV Rao

    2. Sukhmay Chakravarty

    3. Raja chelliah

    4. Dandekar and Rath

    1. Poverty estimation

    2. National Income estimation

    3. Development planning

    4. Fiscal policy

    • A
    • B
    • C
    • D
      • 3
      • 4
      • 2
      • 1
      • 4
      • 3
      • 2
      • 1
      • 2
      • 3
      • 1
      • 4
      • 2
      • 3
      • 4
      • 1
  2. Which one of the following dealt exclusively with taxation of agricultural wealth and income in India?

    1. John Mathai committee 1953.

    2. Kaldor's Report 1956

    3. Wanchoo committee 1971

    4. Raj Committee 1972

  3. Which one of the following is not the reason for rising debt over the last two decades in India?

    1. The failure to generate adequate resources from internal over the last two decades in India?

    2. The need for foreign aid in the form of technological assistance for financing development plants

    3. Failure to increase exports sufficiently

    4. Decrease in the cost of foreign debt

  4. In India, external sector policies should be designed to ensure a rising trend in the current receipts (CR) to GDP ratio from the present level of

    1. 15 percent

    2. 18 percent

    3. 20 percent

    4. 25 percent

  5. Which one of the following types of revenues is not share by the Central government with the State Government?

    1. Central Sale Tax

    2. Income Tax

    3. Excise duty

    4. Customs duty

  6. Which one of the following sources is not considered as a source of government revenue?

    1. Taxes

    2. Surpluses of public enterprises

    3. Transfer payments

    4. Mobilisation of internal loans and deposits

  7. Match List I with List II and select the correct answer:

    List-I List-II
    1. State Bank of India

    2. Green Revolution

    3. bank nationalisation

    4. Foreign Exchange Regulation Act (FERA)

    1. Year 1950

    2. Year 1955

    3. Year 1966

    4. Year 1969

    5. Year 1973

    • A
    • B
    • C
    • D
      • 1
      • 2
      • 4
      • 3
      • 1
      • 2
      • 3
      • 4
      • 2
      • 3
      • 4
      • 5
      • 2
      • 3
      • 5
      • 4
  8. What is the correct chronological sequence of the establishment of the following institutions in India?

    1. NABARD

    2. IDBI

    3. SIDBI

    4. IFCI

    Select the correct answer using the codes given below:

    1. 1, 3, 2, 4

    2. 1, 2, 4, 3

    3. 3, 1, 2, 4

    4. 4, 2, 1, 3

  9. What has been the acceptable rise in prices in Indian context recommended by the Chakravarty Committee (1985)?

    1. 4%

    2. 6%

    3. 2%

    4. 3%

  10. the committee on Capital Account Convertibility (1997) set up by RBI was headed by

    1. S S Tarapore

    2. C Rangaranjan

    3. V Ramkrishnan

    4. N K Sengupta

  11. Consider the following statements: Now economic Policy has greater relevance of the rural sector in the context of

    1. farm subsidies,

    2. bio-technological innovations.

    3. trade liberlisation

    4. increasing input to agriculture.

    Of these statements

    1. 1 and 4 are correct

    2. 1 and 2 are correct

    3. 1, 2 and 3 are correct

    4. 2, 3 and 4 are correct

    • Assertion (A): The rate of fall of MR (Marginal revenue) curve is more than twice the rate of fall of AR (Average revenue) curve.
    • Reason (R): The MR and AR curves are linear and negatively sloped.
    1. Both A and R are true and R is the correct explanation of A

    2. Both a and R are true but R is NOT the correct explanation of A

    3. A is true but R is false

    4. A is false but r is true

    • Assertion (A): A firm sets prices using the ‘cost plus mark-up’ method.
    • Reason (R): The firm has no knowledge about the demand and marginal cost.
    1. Both A and R are true and R is the correct explanation of A

    2. Both a and R are true but R is NOT the correct explanation of A

    3. A is true but R is false

    4. A is false but r is true

    • Assertion (A): A monopolist enjoys considerable power to manipulate the price of his product.
    • Reason (R): The monopoly power of the monopolist is measured by the excess of price over marginal cost.
    1. Both A and R are true and R is the correct explanation of A

    2. Both a and R are true but R is NOT the correct explanation of A

    3. A is true but R is false

    4. A is false but r is true

    • Assertion (A): Y = C + (where Y = national Income, C = Consumption, I = investment).
    • Reason (R): C and I are important determinate of national income.
    1. Both A and R are true and R is the correct explanation of A

    2. Both a and R are true but R is NOT the correct explanation of A

    3. A is true but R is false

    4. A is false but r is true