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Question 1 of 10
1. Question
2 points
An economy is said to have reached its highest possible efficiency when
Correct
Economic efficiency is when every scarce resource in an economy is used and distributed among producers and consumers in a way that produces the most economic output and benefit to consumers.
Incorrect
Economic efficiency is when every scarce resource in an economy is used and distributed among producers and consumers in a way that produces the most economic output and benefit to consumers.
Question 2 of 10
2. Question
2 points
Which of the following reduce accumulation of capital stock in the economy:
Depreciation of assets
Spending on infrastructure rather than capacity building of financial institutions
Which of the above statements is/are correct:
Correct
Solution:
(A)
Incorrect
Solution:
(A)
Question 3 of 10
3. Question
2 points
Consider the following statements about European Bank for Reconstruction and
Development (EBRD):
The European Bank for Reconstruction and Development (EBRD) is an international financial institution that supports projects from eastern Europe to central Asia and the southern and eastern Mediterranean.
The mandate of the EBRD stipulates that it must only work in countries that are committed to democratic principles.
India is yet to join European Bank for Reconstruction and Development (EBRD).
Correct
India has joined the European Bank for Reconstruction and Development (EBRD) as the 69th shareholder, paving the way for more joint investment with Indian companies across the EBRD’s regions.
Membership of EBRD would enhance India’s international profile and promote its economic interests.
Incorrect
India has joined the European Bank for Reconstruction and Development (EBRD) as the 69th shareholder, paving the way for more joint investment with Indian companies across the EBRD’s regions.
Membership of EBRD would enhance India’s international profile and promote its economic interests.
Question 4 of 10
4. Question
2 points
Which of the following best describes ‘Bank Rate’:
Correct
Bank rates influence lending rates of commercial banks.
Higher bank rate will translate to higher lending rates by the banks.
Incorrect
Bank rates influence lending rates of commercial banks.
Higher bank rate will translate to higher lending rates by the banks.
Question 5 of 10
5. Question
2 points
Consider the following statements about Index of Eight Core Industries (ICI):
ICI provide an advance indication on production performance of industries of ‘core’ nature before the release of Index of Industrial Production.
The Index is compiled and released by Central Statistics Office.
Refinery Products are not part of eight core industries.
Which of the above statements is/are correct:
Correct
The objective of the ICI is to provide an advance indication on production performance of industries of ‘core’ nature before the release of Index of Industrial Production (IIP).
ICI measures collective and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Petroleum Refinery Products, Fertilizers, Steel, Cement and Electricity.
Incorrect
The objective of the ICI is to provide an advance indication on production performance of industries of ‘core’ nature before the release of Index of Industrial Production (IIP).
ICI measures collective and individual performance of production in selected eight core industries viz. Coal, Crude Oil, Natural Gas, Petroleum Refinery Products, Fertilizers, Steel, Cement and Electricity.
Question 6 of 10
6. Question
2 points
Consider the following statements regarding India’s External Debt:
The debtors can be Union government, state governments, corporations or citizens of India.
The largest of India’s external debt is the United States dollar.
Multilateral debt by the international financial institutions is the largest component of external debt.
Which of the above statements is/are correct:
Correct
The external debt of India is the total debt the country owes to foreign creditors.
The debtors can be the Union government, state governments, corporations or citizens of India.
Incorrect
The external debt of India is the total debt the country owes to foreign creditors.
The debtors can be the Union government, state governments, corporations or citizens of India.
Question 7 of 10
7. Question
2 points
Consider the following statements:
GDP is the total market value of all goods and services produced in the economy during a particular year, excluding taxes and subsidies on products.
Real GDP growth measures how much the production of goods and services in the economy has increased in actual physical terms during a year.
Nominal GDP growth helps to measure the increase in incomes resulting from rise in both production and prices.
Which of the above statements is/are correct:
Correct
GDP is the total market value of all goods and services produced in the economy during a particular year, inclusive of all taxes and subsidies on products.
The market value taken at current prices is the nominal GDP.
Incorrect
GDP is the total market value of all goods and services produced in the economy during a particular year, inclusive of all taxes and subsidies on products.
The market value taken at current prices is the nominal GDP.
Question 8 of 10
8. Question
2 points
Gross capital formation will necessarily increase if:
Gross domestic savings increases
Gross domestic consumption increases
GDP increases
Select the correct answer code:
Correct
Gross capital formation, in simple terms is equivalent to investment made.
It was earlier called gross domestic investment.
Incorrect
Gross capital formation, in simple terms is equivalent to investment made.
It was earlier called gross domestic investment.
Question 9 of 10
9. Question
2 points
Which of the following factors are considered for determining Minimum Support Prices:
Cost of production
Inter-crop price parity
Effect on cost of living
International price situation
Select the correct answer code:
Correct
Solution:
(D)
Incorrect
Solution:
(D)
Question 10 of 10
10. Question
2 points
Predatory pricing policy is designed to:
Correct
Predatory Pricing – the pricing of goods or services at such a low level that other firms cannot compete and are forced to leave the market.
Incorrect
Predatory Pricing – the pricing of goods or services at such a low level that other firms cannot compete and are forced to leave the market.
