Online GK Test

GK Test
 

Question: Gilt-edged market means

1

bullion market

2

market of government securities

3

market of guns

4

market of pure metals

View Answer

Correct Answer: 2

Question: The central banking functions in India are performed by the

1

Central Bank of India

2

Reserve Bank of India

3

State Bank of India

4

Punjab National Bank

View Answer

Correct Answer: 2

Question: Devaluation of a currency means

1

reduction in the value of a currency vis-a-vis major internationally traded currencies

2

permitting the currency to seek its worth in the international market

3

fixing the value of the currency in conjunction with the movement in the value of a basket of pre-determined currencies

4

fixing the value of currency in multilateral consultation with the IMF, the World Bank and major trading partners

View Answer

Correct Answer: 1

Question: In the second nationalization of commercial banks, ___ banks were nationalized

1

4

2

5

3

6

4

8

View Answer

Correct Answer: 3

Question: Since independence, both development and non-development expenditures have increased; the increase

1

I, II

2

I

3

I, II, III

4

II, III, IV

View Answer

Correct Answer: 3

Question: Since the inception of the co-operative movement, rural credits has been

1

institutionalized

2

rationalized

3

cheapened

4

All of the above

View Answer

Correct Answer: 4

Question: If an economy is equilibrium at the point where plans to save and to invest are equal, then governme

1

zero

2

equal to government income

3

larger than government income

4

negative

View Answer

Correct Answer: 2

Question: The co-operative credit societies have a

1

two-tier structure

2

three-tier structure

3

four-tier structure

4

five-tier structure

View Answer

Correct Answer: 2

Question: Regional rural banks

1

have limited area of operation

2

have free access to liberal refinance facilities from NABARD

3

are required to lend only to weaker sections

4

have free access to liberal refinance facilities from NABARD

View Answer

Correct Answer: 4

Question: The Board of Industrial and Financial Reconstruction (BIFR) came into existence in

1

1984

2

1986

3

1987

4

1989

View Answer

Correct Answer: 3

Question: If the RBI adopts an expansionist open market operations policy, this means that it will

1

buy securities from non-government holders

2

sell securities in the open market

3

offer commercial banks more credit in the open market

4

openly announce to the market that it intends to expand credit

View Answer

Correct Answer: 3

Question: In which of the following sequences the change in quantity of money leads to change in price level

1

Change in quantity of money - change in investment - change in employment and output - change in rate of interest - change in price level

2

Change in quantity of money - change in employment and output - change in investment - change in the rate of interest - change in price level

3

Change in quantity of money - change in investment - change in rate of interest - change in employment and output - change in price level

4

Change in quantity of money - change in rate of interest - change in investment - change in employment and output - change in price level

View Answer

Correct Answer: 4

Question: Foreign Direct Investment ceilings in the telecom sector have been raised from 74 percent to

1

80 percent

2

83 percent

3

90 percent

4

100 percent

View Answer

Correct Answer: 4

Question: In utensils worth Rs 1000 are produced with copper worth Rs 500, wages paid are Rs 100, other materi

1

Rs 1000

2

Rs 500

3

Rs 400

4

Rs 300

View Answer

Correct Answer: 4

Question: Which of the following is not a part of machinery that settles industrial disputes?

1

Wage Court

2

Works Committee

3

Conciliation officers

4

Board of Conciliation

View Answer

Correct Answer: 1

Question: In the last one decade, which one among the following sectors has attracted the highest foreign

1

Chemicals other than fertilizers

2

Services sector

3

Food processing

4

Telecommunication

View Answer

Correct Answer: 1

Question: If all the banks in an economy are nationalized and converted into a monopoly bank, the total depo

1

will decrease

2

will increase

3

will neither increase nor decrease

4

None of the above

View Answer

Correct Answer: 3

Question: Development expenditure of the Central government does not include

1

defence expenditure

2

expenditure on economic services

3

expenditure on social and community services

4

grant to states

View Answer

Correct Answer: 1

Question: ICICI is the name of a

1

chemical industry

2

bureau

3

corporation

4

financial institution

View Answer

Correct Answer: 4

Question: Depreciation means

1

closure of a plant due to lock out

2

closure of a plant due to labour trouble

3

loss of equipment over time due to wear and tear

4

destruction of a plant in a fire accident

View Answer

Correct Answer: 3

Question: Deficit financing leads to inflation in general, but it can be checked if

1

government expenditure leads to increase in the aggregate supply in ratio of aggregate demand

2

only aggregate demand is increased

3

all the expenditure is denoted national debt payment only

4

All of the above

View Answer

Correct Answer: 4

Question: Which of the following is the most appropriate cause of exports surplus?

1

Country's exports promotion value

2

Country's stringent import policy

3

Developments in national and international markets

4

None of the above

View Answer

Correct Answer: 3

Question: If the cash reserve ratio is lowered by the RBI, its impact on credit creation will be to

1

increase it

2

decrease it

3

no impact

4

None of the above

View Answer

Correct Answer: 1

Question: India changed over to the decimal system of coinage in

1

April 1995

2

April 1957

3

April 1958

4

April 1959

View Answer

Correct Answer: 2

Question: The association of the rupee with pound sterling as the intervention currency was broken in

1

1990

2

1991

3

1992

4

1993

View Answer

Correct Answer: 3

Question: On which one of the followings is the benefits received principle of taxation to achieve optimality

1

Marginal benefit received

2

Total benefit received

3

Average benefit received

4

Ability to pay for the benefit

View Answer

Correct Answer: 4

Question: One of the reasons for India's occupational structure remaining more or less the same over the years

1

investment pattern has been directed towards capital intensive industries

2

productivity in agriculture has been high enough to induce people to stay with agriculture

3

ceiling on land holdings have enabled more people to own land and hence their preference to stay with agriculture

4

people are largely unaware of the significance of transition from agriculture to industry for economic development

View Answer

Correct Answer: 1

Question: Of the gross tax revenue of the Union Government the indirect taxes account for nearly

1

70 per cent

2

75 percent

3

65 percent

4

60 percent

View Answer

Correct Answer: 3

Question: The current price index (base 1960) is nearly 330. This means that

1

all items cost 3-3 times more than what they did in 1960

2

the prices of certain selected items have gone up to 3-3 times

3

weighted means of prices of certain item has increased 3-3 times

4

gold price has gone up 3-3 times

View Answer

Correct Answer: 3

Question: Devaluation of currency will be more beneficial if

1

prices of domestic goods remain constant

2

prices of exports remain constant

3

prices of imports remains constant

4

prices of exports rise proportionately

View Answer

Correct Answer: 2

Question: Subsidies mean

1

payment by government for purchase of goods and services

2

payment made by business enterprises to factors of production

3

payment made by companies to shareholders

4

payment made by the government to business enterprises, without buying any goods and services

View Answer

Correct Answer: 4

Question: National expenditure includes

1

consumption expenditure

2

investment expenditure

3

government expenditure

4

All of the above

View Answer

Correct Answer: 4

Question: Resurgent India Bonds were issued in US dollar, Pound Sterling and

1

Japanese Yen

2

Deutsche Mark

3

Euro

4

French Franc

View Answer

Correct Answer: 2

Question: The apex body for formulating plans and coordinating research work in agriculture and allied fields

1

State Trading Corporation

2

Regional Rural Banks

3

National Bank for Agriculture and Rural Development (NABARD)

4

Indian Council of Agricultural Research

View Answer

Correct Answer: 4

Question: Which of the following is not an undertaking under the administrative control of Ministry of Railway

1

Container Corporation of India Limited

2

Konkan Railway Corporation Limited

3

Indian Railways Construction Company Limited

4

Diesel Locomotive Works, Varanasi

View Answer

Correct Answer: 3

Question: Non Tax revenues can be increased by improving the working of the

1

State Road Transport Corporations

2

electricity boards

3

commercial irrigation projects

4

All of the above

View Answer

Correct Answer: 3

Question: Which of the following is not viewed as a national debt?

1

Provident Fund

2

Life Insurance Policies

3

National Saving Certificate

4

Long-term Government Bonds

View Answer

Correct Answer: 3

Question: The condition of indirect taxes in the country's revenue is approximately

1

70 percent

2

75 percent

3

80 percent

4

86 percent

View Answer

Correct Answer: 4

Question: Deficit financing means that the government borrows money from the

1

RBI

2

local bodies

3

big businessmen

4

IMF

View Answer

Correct Answer: 1

Question: Revenue of the state governments are raised from the following sources, except

1

entertainment tax

2

expenditure tax

3

agricultural income tax

4

land revenue

View Answer

Correct Answer: 3

Question: Notes on which denomination has the portrait of Mahatma Gandhi printed on them?

1

1000 rupee

2

500 rupee

3

100 rupee

4

All of the above

View Answer

Correct Answer: 4

Question: The banks are required to maintain a certain ratio between their cash in the hand and totals assets.

1

Statutory Bank Ratio (SBR)

2

Statutory Liquid Ratio (SLR)

3

Central Bank Reserve (CBR)

4

Central Liquid Reserve (CLR)

View Answer

Correct Answer: 2

Question: Redistribution polices geared to reduce economic inequalities include

1

progressive tax policies

2

land reforms

3

rural development policies

4

All the above

View Answer

Correct Answer: 4

Question: Short-term finance is usually for a period ranging up to

1

5 months

2

10 months

3

12 months

4

15 months

View Answer

Correct Answer: 3

Question: In India, which one among the following formulates the fiscal policy?

1

Planning Commission

2

Ministry of Finance

3

Finance Commission

4

The Reserve Bank of India

View Answer

Correct Answer: 2

Question: The budget deficit means

1

the excess of total expenditure, including loans, net of lending over revenue receipts

2

difference between revenue receipts and revenue expenditure

3

difference between all receipts and all the expenditure

4

fiscal deficit less interest payments

View Answer

Correct Answer: 3

Question: Paper currency first started in India in

1

1861

2

1542

3

1601

4

1880

View Answer

Correct Answer: 1

Question: The ARDC is now a branch of the

1

RBI

2

NABARD

3

IDBI

4

SDBI

View Answer

Correct Answer: 2

Question: Devaluation of currency leads to

1

fall in domestic prices

2

increase in domestic prices

3

no impact on domestic prices

4

erratic fluctuations in domestic prices

View Answer

Correct Answer: 2

Question: Since 1983, the RBI's responsibility with respect to regional rural banks was transferred to

1

ARDC

2

SBI

3

NABARD

4

PACs

View Answer

Correct Answer: 3

Question: On July 12, 1982, the ARDC was merged into

1

RBI

2

NABARD

3

EXIM Bank

4

None of the above

View Answer

Correct Answer: 2

Question: Which of the following items would not appear in a company's balance sheet?

1

Value of stocks of raw materials held

2

Total issued capital

3

Revenue from sales of the company's products

4

Cash held at the bank

View Answer

Correct Answer: 3

Question: The currency convertibility concept in its original form originated in

1

Wells Agreement

2

Bretton Woods Agreement

3

Taylors Agreement

4

None of the above

View Answer

Correct Answer: 2

Question: In the state of India, the State Financial Corporation have given assistance mainly to develop

1

agricultural farms

2

cottage industry

3

large-scale industries

4

medium and small-scale industries

View Answer

Correct Answer: 4

Question: The central co-operative banks are in direct touch with

1

farmers

2

state co-operative banks

3

land development banks

4

central government

View Answer

Correct Answer: 2

Question: The first wholly Indian Bank was set up in

1

1794

2

1894

3

1896

4

1902

View Answer

Correct Answer: 2

Question: States earn maximum revenue through

1

land revenue

2

custom revenue

3

commercial taxes

4

excise duties on intoxicants

View Answer

Correct Answer: 3

Question: Debenture holders of a company are its

1

shareholders

2

creditors

3

debtors

4

directors

View Answer

Correct Answer: 2

Question: Our financial system has provided for the transfer of resources from the centre to the states; the

1

tax sharing

2

grant-in-aids

3

loans

4

All the above

View Answer

Correct Answer: 4

Question: Excise duty is a tax levied on the

1

import of goods

2

export of goods

3

production of goods

4

sale of goods

View Answer

Correct Answer: 3

Question: In pursuance with the recommendations of Narsimhan Committee, the RBI has framed new guidelines

1

to govern entry of new private sector banks to make the banking sector more competitive

2

to reduce the freedom given to banks to rationalize their existing branch network

3

to setup more foreign exchange banks

4

to lend more easily for industrial development

View Answer

Correct Answer: 1

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