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question_answer1)
......... are short-term policy measures taken to improve the BoP situation in an economy.
A)
Structural measures done
clear
B)
Stabilisation measures done
clear
C)
Reconstruction measures done
clear
D)
Developmental measures done
clear
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question_answer2)
......... was the Indian Finance Minister in 1991, acknowledged for his capabilities to steer away the economic crises looming large on the erstwhile Indian Economy. (CBSE SQP 2020-21)
A)
Dr. Subramanian Swamy done
clear
B)
Dr. Manmohan Singh done
clear
C)
Pranab Mukherjee done
clear
D)
Dr. Urjit Patel done
clear
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question_answer3)
Quantitative restrictions are those trade barriers which increases the prices of imported goods. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Can't say, there nature varies from time-to time done
clear
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question_answer4)
......... regulates the financial markets in context of India.
A)
Securities and Exchange Board of India (SEBI) done
clear
B)
Reserve Bank of India (RBI) done
clear
C)
Competition Commission of India (CCI) done
clear
D)
Federation of Indian Chambers of Commerce and Industry (FICCI) done
clear
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question_answer5)
Select the correct combination between the following columns.
| Column A | | Column B |
A. | Trade barriers | (i) | Reduction in the value of domestic currency in comparison to foreign currencies as a result of market forces |
B | Devaluation | (ii) | Tariff and quota |
C. | Depreciation | (iii) | Selling part of equity of PSEs to the public |
D. | Disinvestment | (iv) | Deliberate downward adjustment of domestic currency with respect to foreign currencies |
Codes
A)
A-(iii) B-(i) C-(iv) D-(ii) done
clear
B)
A-(ii) B-(i) C-(iii) D-(iv) done
clear
C)
A-(ii) B-(iv) C-(i) D-(iii) done
clear
D)
A-(ii) B-(iii) C-(i) D-(iv) done
clear
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question_answer6)
Select the correct combination between the following columns.
| Column A | | Column B |
A. | Licensing on production capacities | (i) | Stabilisation measures |
B. | Correcting the BoP situation and bringing inflation under control. | (ii) | Globalisation |
C. | Increasing efficiency and international competitiveness | (iii) | MRTP Act, 1969 |
D. | Integrating national economy with the world economy | (iv) | Structural measures |
Codes
A)
A-(ii) B-(i) C-(iv) D-(iii) done
clear
B)
A-(iii) B-(iv) C-(i) D-(ii) done
clear
C)
A-(iv) B-(i) C-(iii) D-(ii) done
clear
D)
A-(ii) B-(iii) C-(i) D-(iv) done
clear
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question_answer7)
Stabilisation measures are long-term measures which intend to improve the efficiency of an economy and increase its international competitiveness. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Can't say done
clear
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question_answer8)
The trade policy reforms introduced in 1991 aimed at
A)
dismantling of quantitative restrictions on imports and exports done
clear
B)
reduction of tariff rates done
clear
C)
removal of licensing procedures for imports done
clear
D)
All of the above done
clear
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question_answer9)
The policy measure (s) taken to induce the spirit of privatisation during the reform period was/were
A)
Contraction in the role of public sector done
clear
B)
Policy of disinvestment was followed done
clear
C)
Both (a) and (b) done
clear
D)
None of the above done
clear
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question_answer10)
Which of the following industry is not reserved for the public sector in India?
A)
Railways done
clear
B)
Atomic energy generation done
clear
C)
Chemicals done
clear
D)
Defence equipments done
clear
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question_answer11)
Which of the following is incorrect with regard to the financial sector reforms taken under the purview of new economic policy, 1991?
A)
Role of RBI shifted from regulator to facilitator of financial institutions. done
clear
B)
Foreign investment limit in banks was raised to around 70 percent. done
clear
C)
Foreign Institutional Investors (Flls) are now allowed to invest in Indian financial markets. done
clear
D)
Banks can set up new branches without the approval of RBI provided they fulfil certain conditions done
clear
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question_answer12)
Policy concerning government taxation and public expenditure are collectively known as
A)
Fiscal policy done
clear
B)
Monetary policy done
clear
C)
Stabilisation policy done
clear
D)
Structural policy done
clear
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question_answer13)
......... is a trade barrier which makes imported goods costlier and thus restricts trade.
A)
Tariff done
clear
B)
Quota done
clear
C)
Export Duty done
clear
D)
None of these done
clear
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question_answer14)
The main reason for reduction in taxes and simplification of tax procedure since 1991 is
A)
high tax rates act as a deterrent to savings and is a major reason for tax evasion done
clear
B)
income of the people post 1991 have fallen continuously and so does the tax rates done
clear
C)
high tax rates imply higher disposable income and thus lower level of consumption done
clear
D)
All of the above done
clear
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question_answer15)
The major reason for simplification of tax procedure post 1991 is
A)
to avoid the cascading effects of taxation done
clear
B)
to encourage better compliance on part of the taxpayers done
clear
C)
to rationalise the tax structure and computing taxes with more clarity done
clear
D)
All of the above done
clear
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question_answer16)
Which of the following explains the way for a government company to go private?
A)
Withdrawal of the government from ownership and management of public sector companies done
clear
B)
Outright sale of public sector companies done
clear
C)
Both (a) and (b) done
clear
D)
None of the above done
clear
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question_answer17)
Which of the following does not constitute the special status as granted to Central Public Sector Enterprises in context of India?
A)
Newratnas done
clear
B)
Maharatnas done
clear
C)
Navratnas done
clear
D)
Miniratnas done
clear
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question_answer18)
Indian Oil Corporation Limited has been granted the status of
A)
Newratnas done
clear
B)
Maharatnas done
clear
C)
Navratnas done
clear
D)
Miniratnas done
clear
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question_answer19)
Which of the following PSEs has not been granted the status of Miniratnas?
A)
Bharat Sanchar Nigam Limited done
clear
B)
Airport Authority of India done
clear
C)
Indian Railway Catering and Tourism Corporation Limited done
clear
D)
Steel Authority of India Limited done
clear
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question_answer20)
Which of the following is not true about economic crisis of India in 1990?
A)
India was highly indebted country, pay Rs. 10.000 crore as interest payment done
clear
B)
Foreign exchange reserves showed a marginal rise owing to policies between 1950 to 1990 done
clear
C)
Inflation rate was very high at 16.8% per annum done
clear
D)
BoP was in deficit of Rs. 30,000 crore done
clear
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question_answer21)
Strategic sale implies selling up of major proportion of equity (51% or more) of PSEs to the private sector. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Partially false done
clear
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question_answer22)
Select the correct combination between the following columns.
| Column A | | Column B |
A. | Disinvestment | (i) | Trade between two countries |
B. | Minority sale | (ii) | Trade between more than two Countries |
C. | Bilateral trade | (iii) | To bring about financial discipline and modernisation of PSUs |
D. | Multilateral trade | (iv) | Sale of 49% or less of the equity of PSUs |
Codes
A)
A-(iv) B-(iii) C-(ii) D-(i) done
clear
B)
A-(iii) B-(iv) C-(ii) D-(i) done
clear
C)
A-(iii) B-(iv) C-(i) D-(ii) done
clear
D)
A-(iv) B-(iii) C-(i) D-(ii) done
clear
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question_answer23)
Facilitating greater integration and interdependence in markets and allowing for activities that transcends economic, social and geographical boundaries is known as
A)
Liberalisation done
clear
B)
Privatisation done
clear
C)
Globalisation done
clear
D)
None of these done
clear
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question_answer24)
The reason that has lead India as a major destination for global outsourcing is
A)
restrictions from the government done
clear
B)
availability of skilled and cheap labour done
clear
C)
availability of cheap labour with skill-gap done
clear
D)
availability of large number of consumer and capital goods industry done
clear
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question_answer25)
Voice-based business processes are also referred to as BPO (Business Process Outsourcing) or Call centres. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Partially false done
clear
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question_answer26)
World Trade Organisation (WTO) was established in 1995 as a successor to World Bank. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Partially false done
clear
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question_answer27)
WTO was established in 1995 as a successor to
......... . (CBSE 2020)
A)
General Agreement on Trade and Tariff (GATT) done
clear
B)
General Agreement on Trade and Transformation (GATT) done
clear
C)
General Agreement on Tariff and Transformation (GATT) done
clear
D)
General Agreement on Tariff and Travel (GATT) done
clear
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question_answer28)
GATT was established in ......... with ...... countries as a trading organisation to administer global trade agreements.
A)
1950, 67 done
clear
B)
1948, 23 done
clear
C)
1965, 130 done
clear
D)
1995, 130 done
clear
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question_answer29)
The major reason for joining and becoming a member of WTO is/are
A)
integrating domestic economy with the world economy done
clear
B)
greater market access to all neighbouring countries done
clear
C)
allowing trade restrictive policies among the member nations done
clear
D)
Both (a) and (b) done
clear
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question_answer30)
Trade between more than two countries is known as ......... .
A)
Unilateral trade done
clear
B)
Bilateral trade done
clear
C)
Multilateral trade done
clear
D)
None of these done
clear
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question_answer31)
Select the correct combination between the following columns.
| Column A | | Column B |
A. | Bilateral trade | (i) | Make imports relatively costlier |
B. | Unilateral trade | (ii) | Trade between two countries |
C. | Tariff barriers | (iii) | Barriers imposed on the quantity of imports and exports |
D. | Non-tariff barriers | (iv) | One-sided, non-reciprocal trade preferences often granted by developed countries |
Codes
A)
A-(iv) B-(ii) C-(i) D-(iii) done
clear
B)
A-(ii) B-(iv) C-(i) D-(iii) done
clear
C)
A-(ii) B-(iv) C-(iii) D-(i) done
clear
D)
A-(iv) B-(ii) C-(iii) D-(i) done
clear
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question_answer32)
Growth during the reform period was mainly driven by the growth of which particular sector?
A)
Agricultural sector done
clear
B)
Manufacturing sector done
clear
C)
Service sector done
clear
D)
All sectors contributed equally to growth done
clear
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question_answer33)
The positive impact of LPG policies in context of Indian economy is/are
A)
a rise in foreign exchange reserves from US Dollar 6 billion in 1990-91 to about US Dollar 304 billion in 2013-14. done
clear
B)
a rise in foreign investment from US Dollar 100 million in 1990-91 to US Dollar 467 billion in 2012-13 done
clear
C)
a rise in the rate of economic growth from 5.6% in 1991 to 8.2% by the end of 2012 done
clear
D)
All of the above done
clear
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question_answer34)
The negative impact of LPG policies a context of Indian economy is/are
A)
Productivity in the agriculture sector has declined as it remained neglected done
clear
B)
Productivity in the service sector has increased due to increased focus done
clear
C)
Dwindling of the GDP growth rate done
clear
D)
Consumer's sovereignty has widened done
clear
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question_answer35)
Foreign Direct Investment (FDI) does not include ......... .
A)
investment in stock markets done
clear
B)
investment in domestic infrastructure done
clear
C)
investment in setting up of capital goods done
clear
D)
All of the above done
clear
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question_answer36)
Arrange the following in chronological order in context of Indian economy. |
(i) Monopolies and Restrictive Trade Practices Act |
(ii) Competition Commission |
(iii) New Economic Reforms |
(iv) Goods and Services Tax |
Choose the correct alternative. |
A)
(iii), (ii), (i), (iv) done
clear
B)
(i), (iii), (ii), (iv) done
clear
C)
(i), (iii), (iv), (ii) done
clear
D)
(i), (iii), (ii), (iv) done
clear
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question_answer37)
Which of the given pair is incorrectly matched?
| Column A | | Column B |
A. | Strategic | (i) | Sale of 51% or more equity of the PSUs |
B. | Minority | (ii) | Sale of 49% or less equity of the PSUs |
C. | Quota | (iii) | Trade Promoter |
D. | Foreign Investment | (iv) | FDI + FII |
Codes
A)
A-(i) done
clear
B)
B-(ii) done
clear
C)
C-(iii) done
clear
D)
D-(iv) done
clear
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question_answer38)
Availability of cheap labour and reasonable degree of skills among the Indian workforce makes it a favourable outsourcing destination. The given statement is
A)
True done
clear
B)
False done
clear
C)
Partially true done
clear
D)
Partially false done
clear
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question_answer39)
The latest demonetisation of currency was undertaken by the Government of India on
......... .
A)
6th November, 2016 done
clear
B)
8th November, 2017 done
clear
C)
6th November, 2016 done
clear
D)
8th November, 2016 done
clear
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question_answer40)
Industrialisation in India has recorded a slowdown in the period of economic reforms. What is/are the reason(s) for this?
A)
The demand for domestic industrial products is decreasing. done
clear
B)
Globalisation done
clear
C)
India does not have access to different markets because of high non-tariff barriers. done
clear
D)
All of the above done
clear
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question_answer41)
Which of the following items has been kept outside the purview of Goods and Services Tax (GST)?
A)
Electricity, Automobiles and Telecomm unications done
clear
B)
Electricity, Automobiles and Alcohol for human consumption done
clear
C)
Electricity, Petroleum Products and Alcohol for human consumption done
clear
D)
Electricity, Telecommunications and Alcohol for human consumption done
clear
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question_answer42)
Which of the given taxes has been subsumed under the Goods and Services Tax (GST)?
A)
Luxury tax done
clear
B)
Taxes on advertisements done
clear
C)
Purchase tax done
clear
D)
All of the above done
clear
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question_answer43)
The reform measures that were taken in order to boost the growth of manufacturing sector was/were
A)
import licensing was abolished except in case of hazardous and environmentally sensitive industries. done
clear
B)
quantitative restrictions on imports of manufactured consumer goods and agricultural products were removed from 2001. done
clear
C)
to increase the competitiveness of Indian products, export duties have been removed done
clear
D)
All of the above done
clear
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