WESTBENGAL 18+ BOYS&GIRLS ,[TEST UR IQ] CLUB.

Economy : 1.Which of following statement is true about the Economic Growth
a. It refers to increase in Gross Domestic Product ( GDP)
b. It refers to the long and sustained rise in real Gross Domestic Product (GDP)
c. It is characterized by fall in unemployment rate
d. Rise in GDP on monetary term Answer: b 2. Amartya Sen is known for
a. Welfare Economics
b. Money and Banking
c. Industrial Economics
d. Behavioral Economics Answer: a 3. Liquidity refers to:
a. Wealth available with investors
b. Ease with which assets can be converted into the money
c. Currency convertibility
d. All of above Answer: b 4. Which of following statement is true about the Primary deficit?
a. It is difference between Revenue receipts and Revenue Expenditure
b. It is difference between capital receipts and Interest Payment
c. It is difference between the Fiscal Deficit and Interest Payment
d. It is addition of Fiscal Deficit and Interest Payment Answer: c 5. Base Effect always remains in news, which of following statement is true about Base Effect:
a. It is Change in numbers of items for which price quotations are taken
b. It measures Impact of fuel items on inflation
c. It is related to Impact of the rise in price level in the previous year over the rise in price levels in the current year
d. It is related Problems which arises due to miscalculation Answer: c 6. Consider the following statements:
I) Government disinvesting its share in various public sector undertakings
II) Process of disinvestment is very fast
III) Process of disinvestment is very slow and government always falls short of target
Which of above statements is/ are true about government policy of disinvestment
a. Only I
b. I and III
c. I and II
d. I, II and III Answer: b 7. What does the tax heaven mean?
a. Important source of tax revenue for government
b. countries or states which impose no tax or very low tax that attract wealth from all over the world.
c. Rich class of society that pays the tax
d. Particular section of society that does not pay the tax Answer: b 8. Our first five year plan primary focused on
a. Agricultural Sector
b. Manufacturing Sector
c. Defense up gradation
d. Service sector Answer: a 9. Consider the following statements
I) Recession reduces the demands for goods and services
II) Recession leads to unemployment
III) Government interference is desirable to reverse the recessionary trends
Which of above statements is/ are true about Recession
a. Only I
b. Only II
c. I,II,III
d. None of above Answer: c 10. Consider the following statement:
I) Government disinvesting its share in various public sector undertakings
II) Process of disinvestment is very fast
III) Process of disinvestment is very slow and government always falls short of target
Which of above statements is/ are true about government policy of disinvestment
a. Only I
b. I and III
c. I and II
d. I, II and III Answer: b 11. Who operates the monetary policy in India?
a. Ministry of Finance
b. Reserve Bank of India (RBI)
c. Security and Exchange Board of India
d. All of above Answer: b 12.Market Based economy means
a. All economic decision are taken based on the demand and supply forces
b. Some economic decision are taken by government and other are left to market forces
c. Government has full control over the private sector
d. Economic decisions are taken after keeping in view the social welfare Answer: a
13.Quaternary sector implies
a. Activities related to mining and quarrying
b. Activities related to manufacturing
c. Fishing activities
d. Research and developmental activities Answer: d 14.Sustainable Development implies
a. Sustained rise in real GDP
b. Long lasting development without negatively impacting the environment
c. Full exploitation of natural resources
d. Reduction in unemployment and poverty Answer: b 15. Mixed Economy Implies
a. Absence of Public Sector
b. Absence of private sector
c. Co-existence of public and private sector
d. All economic activities are motivated by social welfare Answer: c 16.Sustainable economic growth depends upon
a. Investment, not saving
b. Saving, not investment
c. Both saving and investment
d. Neither saving nor investment Answer: c 17. Which of the following are not third-world regions?
a. Latin America.
b. Asia.
c. Africa.
d. Australia Answer: d 18. Economic development means
a. Economic growth.
b. Economic growth plus structural and qualitative changes.
c. Improvement in the living standard of the urban population.
d. Sustainable increases in Gross National Product (GDP). Answer: b