Competitive Exams: Economics MCQs (Practice-Test 6 of 122)

  1. Occupational structure refers to the

    1. number of workers living in a country size of the working population in industrial sector occupations.

    2. nature of different occupations in the economy.

    3. both of above

    4. none of above

  2. consider the following legislations:

    1. Indian Trade Union Act.

    2. Payment of Wages Act.

    3. Minimum Wages Act. There correct chronological sequence of these enactments in India is:

      1. 1, 2, 3

      2. 1, 2, 3

      3. 2, 1, 3

      4. 2, 3, 1

  3. Relatively higher wages of the agricultural labour in Punjab is best attributed to the

    1. greater availability of non-agricultural means of employment

    2. higher agricultural productivity out of adoption of the HYV technology.

    3. stronger bargaining power of the organized agricultural labour.

    4. more effective implementation of the

    Minimum Wages Act.

  4. India's major sources of import are from:

    1. USA

    2. OPEC

    3. Japan

    4. LDC's

    The correct sequence of the descending order of the percentage share of these countries in India's imports, as per 1995 − 96 figures is

    1. 2, 4, 3, 1

    2. 2, 4, 1, 3

    3. 4, 2, 3, 1

    4. 4, 2, 1 3

  5. Which of the following are related to India's export promotion efforts?

    1. Cash compensatory support

    2. duty drawback

    3. Convertibility clause

    4. Free Trade zones

  6. Select the correct answer using the codes given below:

    1. the pattern of India's export indicates that are growing in importance

    2. both traditional and non-traditional items are growing in importance

    3. non-traditional items like engineering goods, handicrafts, iron ore and chemicals are growing in importance

    4. neither traditional items nor the nontraditional items have much of trade significance.

  7. India has paid its share of the Capital in IMF and World Bank in the form of:

    1. Non-negotiable special rupee securities

    2. Indian rupee

    3. Gold

    4. Gilt-edged securities.

  8. Which one of the following effects of the creation of black money in the parallel economy of India has been the sources of greatest worry to the government of India?

    1. Diversion of resources to the purchase of real estate and investment in luxury housing

    2. Investment in precious stones, jewellery, god etc.

    3. conspicuous consumption of businessmen and capitalists.

    4. Loss of revenue to the state exchequer due to tax evasion.

  9. Which one of the following is the correct chronological sequence of nationalizations of the given sets of banks?

    1. SBI, RBI, 14 bans, 6 banks

    2. RBI, SBI, 6 banks, 14 banks

    3. RBI, SBI, 14 BANKS, 6 BANKS

    4. SBI, BRI, 6 banks, 14 banks

  10. Open market operations refers to

    1. borrowing by scheduled banks from the RBI

    2. leading by commercial banks to industry and trade

    3. purchase and sale of government securities by the RBI.

    4. deposit mobilization.

  11. The Reserve Bank of India (RBI) acts as a banker's bank. This would imply which of the following?

    1. Other banks retain their deposits with the RBI.

    2. RBI lends funds to the commercial banks in times of

    3. RBI advises the commercial banks on monetary matters

    Select the correct answer using the codes given below:

    1. 2 and 3

    2. 1 and 2

    3. 1 and 3

    4. 1, 2 and 3

  12. Which of the following forms the largest share of deficit in government of India's budget?

    1. budgetary deficit

    2. Fiscal deficit

    3. Revenue deficit

    4. Primary deficit

  13. Municipalities finance their expenditure by imposing among others

    1. ales tax

    2. profession tax

    3. Excise duties

    4. Gift tax.

  14. Authorizes expenditure out of the consolidated Fund of India.

    1. authoresses expenditure out of the Consolidated Fund of India.

    2. authorizes expenditure out of the contingency Fund of India.

    3. Gives effect to the financial proposals of the government for the succeeding financial year

    4. authorizes the government to spend the money raised through taxes etc.