1. Consider the following statements:
1. The quantity of imported edible oils is more than the domestic production of edible oils in the last five years.
2. The Government does not impose any customs duty on all the imported edible oils as a special case.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
2. Consider the following statements:
1. Capital Adequacy Ratio (CAR) is the amount that banks have to maintain in the form of their own funds to offset any loss that banks incur if the account-holders fail to repay dues.
2. CAR is decided by each individual bank.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
3. India enacted the Geographical Indications of Goods (Registration and Protection) Act, 1999 in order to comply with the obligations to
a) ILO
b) IMF
c) UNCTAD
d) WTO
4. Which one of the following statements correctly describes the meaning of legal tender money?
a) The money which is tendered in courts of law to defray the fee of legal cases
b) The money which a creditor is under compulsion to accept in settlement of his claims
c) The bank money in the form of cheques, drafts, bills of exchange, etc.
d) The metallic money in circulation in a country
5. If a commodity is provided free to the public by the Government, then
a) the opportunity cost is zero.
b) the opportunity cost is ignored.
c) the opportunity costs are transferred from the consumers of the product to the tax-paying public.
d) the opportunity cost is transferred from the consumers of the product to the Government.
6. Increase is absolute and per capita real GNP does not connote a higher level of economic development, if
a) industrial output fails to keep pace with agricultural output.
b) agricultural output fails to keep pace with industrial output.
c) poverty and unemployment increase.
d) imports grow faster than exports.
7. Consider the following statements:
Human capital formation as a concept is better explained in terms of a process that enables
1. individuals of a country to accumulate more capital.
2. increasing the knowledge, skill levels, and capacities of the people of the country.
3. accumulation of tangible wealth.
4. accumulation of intangible wealth.
Which of the statements given above is/are correct?
a) 1 and 2
b) 2 only
c) 2 and 4
d) 1, 3 and 4
8. Despite being a high saving economy, capital formation may not result in a significant increase in output due to
a) weak administrative machinery
b) illiteracy
c) high population density
d) high capital-output ratio
9. Consider the following statements:
1. The Reserve Bank of India manages and services Government of India Securities but not any State Government Securities.
2. Treasury bills are issued by the Government of India and there are no treasury bills issued by the State Governments.
3. Treasury bills offer are issued at a discount from the par value.
Which of the statements given above is/are correct?
a) 1 and 2 only
b) 3 only
c) 2 and 3 only
d) 1, 2 and 3
10. Consider the following:
1. Areca nut
2. Barley
3. Coffee
4. Finger millet
5. Groundnut
6. Sesamum
7. Turmeric
The Cabinet Committee on Economic Affairs has announced the Minimum Support Price for which of the above?
a) 1, 2, 3 and 7 only
b) 2, 4, 5 and 6 only
c) 1, 3, 4, 5 and 6 only
d) 1, 2, 3, 4, 5, 6 and 7
11. With reference to the governance of the public sector banking in India, consider the following statements:
1. Capital infusion into public sector banks by the Government of India has steadily increased in the last decade.
2. To put the public sector banks in order, the merger of associate banks with the parent State Bank of India has been affected.
Which of the statements given above is/are correct?
a) 1 only
b) 2 only
c) Both 1 and 2
d) Neither 1 nor 2
Answer:
1-A; 2-A; 3-D; 4-B; 5-C;
6-C; 7-C; 8-D; 9-C; 10-B; 11-B;
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