1000 Best Indian Economy MCQs
Q273). Excise duty is a tax levied on the
a).import of goods
b).export of goods
c).production of goods
d).sale of goods
Correct Answer:
production of goods
Explanation:
Q274). 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:
Q275). Devaluation of a currency means
a).reduction in the value of a currency vis-a-vis major internationally traded currencies
b).permitting the currency to seek its worth in the international market
c).fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies
d).fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners
Correct Answer:
reduction in the value of a currency vis-a-vis major internationally traded currencies
Explanation:
Q276). National Agricultural Insurance Scheme replacing Comprehensive Crop Insurance Scheme was introduced in the year
a).1997
b).1998
c).1999
d).2000
Correct Answer:
1999
Explanation:
Q277). If an economy is equilibrium at the point where plans to save and to invest are equal, then government expenditure must be
a).zero
b).equal to government income
c).larger than government income
d).negative
Correct Answer:
equal to government income
Explanation:
Q278). National expenditure includes
a).consumption expenditure
b).investment expenditure
c).government expenditure
d).All of the above
Correct Answer:
All of the above
Explanation:
Q279). The currency convertibility concept in its original form originated in
a).Wells Agreement
b).Bretton Woods Agreement
c).Taylors Agreement
d).None of the above
Correct Answer:
Bretton Woods Agreement
Explanation:
Q280). In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines
a).to govern entry of new private sector banks to make the banking sector more competitive
b).to reduce the freedom given to banks to rationalize their existing branch network
c).to setup more foreign exchange banks
d).to lend more easily for industrial development
Correct Answer:
to govern entry of new private sector banks to make the banking sector more competitive
Explanation: