Economy : Mock Papers

Mock Question Paper 2

Q1. 'Devaluation' means

A. Converting rupees into gold
B. Lowering of the value of one currency in comparison of some foreign currency
C. Making rupee dearer in comparison to some foreign currency
D. None of these

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Q2. Monetary policy is regulated by

A. Money lenders
C. Central Bank
D. Private enterpreneurs
D. Government policy

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Q3. which of the following public sector banks has the largest number of loss making branches?

A. State Bank of India
B. Indian Bank
C. United Bank of India
D. Syndicate Bank

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Q4. A crossed cheque is one, which can be encashed only

A. by the drawee
B. Through a bank
C. At the State Bank of India
D. After it has been transferred to another person

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Q5. Who among the following is most benefitted from inflation?

A. Government pensioners
B. Debtors
C. Creditors
D. Savings Bank Account holders

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Q6. Which of the following is the Banker of the Banks?

A. IDBI
B. SBI
C. RBI
D. SBI and RBI

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Q7. When does the problem of unfavourable balance of payment arise?

A. When exports decrease
B. When exports increase
C. When imports decrease
D. When imports are greater than exports

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Q8. The largest Public Sector Bank in India is

A. Central Bank
B. State Bank of India
C. Punjab National Bank
D. Indian Overseas Bank

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Q9. The National Housing Bank is a subsidiary of

A. Reserve Bank of India
B. NABARD
C. Unit Trust of India
D. Life Insurance Corporation of India

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Q10. Which of the following can be used for checking inflation temporarily?

A. Increase in wages
B. Decrease in money supply
C. Decrease in taxes
D. None of these

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Q11. Credit Rationing in India is done by

A. RBI
B. SBI
C. LIC
D. UTI

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Q12. Monetary Policy refers to the policy of

A. Moneylenders
B. Government
C. Commercial Banks
D. Central Bank

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Q13. Open market operations by a Central Bank involves

A. Increase or decrease of discount rate
B. Raising or lowering fo marginal requirements
C. Sale and purchase of government securities
D. Changing the reserve ratio up and down

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Q14. What is NABARD's primary role

A. To provide term loans to State Cooperative Banks
B. To assist State Governments for share capital contribution
C. To act as refinance institution
D. All of the above

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Q15. In which of the following cities is the headquarters of the Unit Trust of India located?

A. Bombay
B. New Delhi
C. Calcutta
D. Madras

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Q16. Prior to full convertibility of the rupee, the convertibility ratio was

A. 40:60
B. 60:40
C. 30:70
D. 70:30

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Q17. Who among the following headed the Commitee on 'Computerisation' in Indian banks (1988)?

A. R.N. Malhotra
B. S. Venditaramanan
C. M. Narasimhan
D. C. Rangarajan

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Q18. Who among the following are not protected against inflation?

A. Salaried class
B. Industrial workers
C. Pensioners
D. Agricultural farmers

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Q19. To prevent recurrence of scams in Indian Capital Market, the Government has assigned regulatory powers to

A. RBI
B. SBI
C. SEBI
D. ICICI

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Q20. Banks in India were nationalised for the first time in the year

A. 1950
B. 1960
C. 1969
D. 1979

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Q21. Money for public utility is issued by the government through consolidated fund of India through

A. Finance Minister
B. Finance Secretary
C. RBI Governor
D. None of these

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Q22. The Planning Commission in India was set up in

A. 1947
B. 1950
C. 1951
D. 1952

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Q23. Which one of the following is the task of the Planning Commission?

A. Preparation of the plan
B. Implementation of the plan
C. Financing of the plan
D. Both A & B

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Q24. Economic Planning is a subject

A. In the Union List
B. In the State List
C. In the Concurrent List
D. Unspecified in any special list

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Q25. The Planning Commission is

A. A Ministry
B. A Government department
C. An Advisory body
D. An Autonomous Corporation

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Q26. The steel Plants at Durgapur, Bhilai and Rourkela were established during the period of

A. First Five Year Plan
B. Second Five Year Plan
C. Third Five year Plan
D. Fourth Five Year Plan

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Q27. Eighth Five Year Plan covered the period

A. 1990-95
B. 1989-94
C. 1991-96
D. 1992-97

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Q28. The term 'Hindu rate of growth' refers to the 3.70% per annum growth rate achieved by the Indian economy over the first six Five-Year Plans. the term was coined by

A. J.N. Bhagwati
B. K.N. Raj
C. Raj Krishna
D. Sukhamoy Chakravarty

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Q29. The Eighth Plan had proposed to create how many million additional employment opportunities annually?

A. 3 to 4
B. 6 to 7
C. 8 to 90
D. 10 to 12

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Q30. Economic planning is an essential feature of

A. Dual Economy
B. Mixed Economy
C. Capitalist Economy
D. Socialist Economy

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