1000 Best Indian Economy MCQs

Q177). Short-term finance is usually for a period ranging up to

a).5 months
b).10 months
c).12 months
d).15 months

Correct Answer:
12 months
Explanation:

Q178). In India, which one among the following formulates the fiscal policy?

a).Planning Commission
b).Ministry of Finance
c).Finance Commission
d).The Reserve Bank of India

Correct Answer:
Ministry of Finance
Explanation:

Q179). The budget deficit means

a).the excess of total expenditure, including loans, net of lending over revenue receipts
b).difference between revenue receipts and revenue expenditure
c).difference between all receipts and all the expenditure
d).fiscal deficit less interest payments

Correct Answer:
difference between all receipts and all the expenditure
Explanation:

Q180). In utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other material purchased is worth Rs 100 and depreciation of machinery is zero, then what is the value added in process?

a).Rs 1000
b).Rs 500
c).Rs 400
d).Rs 300

Correct Answer:
Rs 300
Explanation:

Q181). Paper currency first started in India in

a).1861
b).1542
c).1601
d).1880

Correct Answer:
1861
Explanation:

Q182). The ARDC is now a branch of the

a).RBI
b).NABARD
c).IDBI
d).SDBI

Correct Answer:
NABARD
Explanation:

Q183). Devaluation of currency leads to

a).fall in domestic prices
b).increase in domestic prices
c).no impact on domestic prices
d).erratic fluctuations in domestic prices

Correct Answer:
increase in domestic prices
Explanation:

Q184). Since 1983, the RBI’s responsibility with respect to regional rural banks was transferred to

a).ARDC
b).SBI
c).NABARD
d).PACs