The term “Gresham’s Law” is often mentioned in the context of economics. What does it state?

Options

(a)

Bad money drives out good money when both are in circulation.

(b)

Good money drives out bad money when both are in circulation.

(c)

Inflation drives out deflation in the economy.

(d)

Market competition drives out inefficient producers.

Answer

(A)

Food Processing Sector

Economics › Food Processing Sector

2011

With what purpose is the Government of India promoting the concept of “Mega Food Parks”?
1. To provide good infrastructure facilities for the food processing industry.
2. To increase the processing of perishable items and reduce wastage.
3. To provide emerging and eco-friendly food processing technologies to entrepreneurs.
Select the correct answer using the code given below:

Options

(a)

1 only

(b)

1 and 2 only

(c)

2 and 3 only

(d)

1, 2 and 3

Answer

(B)

GST

Economics › GST

2011

Which one of the following is not a feature of “Value Added Tax”?

Options

(a)

It is a multi-point destination-based system of tax.

(b)

It is a tax levied on value addition at each stage of transaction in the production distribution chain.

(c)

It is a tax on the final consumption of goods or services and must ultimately be borne by the consumer.

(d)

It is basically a subject of the Central Government, and the State Governments are only a facilitator for its successful implementation.

Answer

(D)

Economics › GST

2011

In India, which of the following have the highest share in total tax revenue of the Central Government?

Options

(a)

Taxes on income

(b)

Taxes on commodities and services

(c)

Taxes on property and capital gains

(d)

Custom duties

Answer

(B)

Inflation

Economics › Inflation

2011

A rapid increase in the rate of inflation is sometimes attributed to the “base effect”. What is “base effect”?

Options

(a)

It is the impact of drastic deficiency in supply due to failure of crops.

(b)

It is the impact of the surge in demand due to rapid economic growth.

(c)

It is the impact of the price levels of previous year on the calculation of inflation rate.

(d)

None of the statements (a), (b) and (c) given above is correct in this context.

Answer

(C)

Economics › Inflation

2011

India has experienced persistent and high food inflation in the recent past. What could be the reasons?

1. Due to a gradual switchover to the cultivation of commercial crops, the area under the cultivation of food grains has steadily decreased in the last five years by about 30%.
2. As a consequence of increasing incomes, the consumption patterns of the people have undergone a significant change.
3. The food supply chain has structural constraints.

Options

(a)

1 and 2 only

(b)

2 and 3 only

(c)

1 and 3 only

(d)

1, 2 and 3

Answer

(B)

National Income Accounting(GDP)

Economics › National Income Accounting(GDP)

2011

In the context of Indian economy, consider the following statements:
1. The growth rate of GDP has steadily increased in the last five years.
2. The growth rate in per capita income has steadily increased in the last five years.

Options

(a)

1 only

(b)

2 only

(c)

Both 1 and 2

(d)

Neither 1 nor 2

Answer

(D)

Economics › National Income Accounting(GDP)

2011

In terms of economy, the visit by foreign nationals to witness the XIX Commonwealth Games in India amounted to

Options

(a)

Export

(b)

Import

(c)

Production

(d)

Consumption

Answer

(A)

RBIXLiquidity Management

Economics › RBIXLiquidity Management

2011

Consider the following statements:
1. An increase in the rate of interest may lead to an increase in the rate of inflation.
2. An increase in the rate of interest may lead to a decrease in the level of investment.
3. An increase in the rate of interest may lead to an increase in the rate of savings.
Which of the statements given above is/are correct?

Options

(a)

1 only

(b)

2 and 3 only

(c)

1 and 2 only

(d)

2 and 3 only

Answer

(B)

Economics

Economic Growth,LPG,Planning

Options

Answer

Food Processing Sector

Options

Answer

GST

Options

Answer

Options

Answer

Inflation

Options

Answer

Options

Answer

National Income Accounting(GDP)

Options

Answer

Options

Answer

RBIXLiquidity Management

Options

Answer