Indian Economy Set 3
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This set of Indian Economy Multiple Choice Questions & Answers (MCQs) focuses on Indian Economy Set 3
Q1 | Indian Iron and Steel company was established in ……………
- 1919
- 1909
- 1976
- 1090
Q2 | …………… is known as the father of Iron and Steel company in India.
- jamshedji tata
- ratan tata
- ambani
- mittal
Q3 | Bockaro Steel plant was started during ……………. plan .
- first
- second
- third
- fourth
Q4 | WTO prescribes export subsidies as:
- competition
- unfair competition
- monopolistic competition
- exploitation
Q5 | Export promotion is an:
- inward looking strategy
- outward looking strategy
- fiscal strategy
- political strategy
Q6 | Since March 1973, the world, more or less, had a:
- free floating exchange rate system
- fixed exchange rate system
- managed floating exchange rate system
- adjustable peg system
Q7 | Net National gains from trade is measurable function of:
- volume of trade
- relative prices in two countries
- factor cost of commodities traded
- volume of trade credited and change in prices caused by trade
Q8 | Outward looking development policies are not associated with:
- open system of communications
- free movement of capital
- multinational enterprises
- learning by doing
Q9 | Import quota is :
- tariff
- non-tariff trade barrier
- concession
- international obligation
Q10 | Balance of payments must always balance because:
- trade deficit is cancelled by invisible credits
- import always equals exports
- of an accounting connection
- what a country gets, it must either pay or save
Q11 | Trade Policy measures for correction of balance of paymentsdisequilibrium include of export promotion:
- export promotion
- import control
- both a & b
- import substitution
Q12 | In calculating India’s balance of payments position, we must:
- omit invisible items
- omit exports and imports of gold
- include expenditure by foreign tourists as imports
- include long term loans abroad as debit
Q13 | The convertibility of dollar was formally abandoned in:
- 1971
- 1966
- 1973
- 1962
Q14 | Each member of IMF is assigned a quota expressed in:
- member country’s currency
- dollar
- special drawing rights
- none of the above
Q15 | The international monetary system that existed from 1947 to 1971 isgenerally known as:
- par value system
- pegged exchange rate system
- bothe a & b
- fewer rupees in the spot market than in the home market
Q16 | The fundamental cause for the collapse of the Bretton woods system was:
- liquidity problem
- the adjustment problem
- the confidence problem
- all of the above
Q17 | The direction of trade indicates:
- the nature of goods that are exported and imported
- the value of goods that are exported and imported
- the countries to which commodities are exported and the countries from which commodities are imported
- the terms at which exports exchanges for imports school of distance education indian economy
Q18 | The important component of foreign trade:
- terms of trade, balance of trade and balance of payment
- the volume of trade, the composition of trade and direction of trade
- terms of trade and volume of trade
- terms of trade and direction of trade
Q19 | The balance of payment in unfavorable:
- when value of export is greater than import
- when value of import is greater than export
- when value of imports and exports are equal
- only when there is much greater difference between exports and imports
Q20 | In which of the plan period, the Balance of payment position had surplus:
- first plan
- second plan
- third plan
- fifth plan
Q21 | The Mudaliar Committee was related to:
- export-import policy
- exim bank
- small scale industries
- banking sector
Q22 | EXIM Bank was set up in:
- 1980
- 1982
- 1991
- 2000
Q23 | The balance of payment on current account shows:
- the record of the current position of the country in transfer of both visible and invisible items
- the record of the financial position of the country
- the extent of the financial position of the country
- the record of the current position of visible items.
Q24 | “Capitalism” refers to?
- The use of market
- Government ownership of capital
- Private ownership of capital goods
- Private ownership of homes & cars
Q25 | What is the main cause of exports surplus?
- Country’s stringent import policy
- Developments in national and international markets
- Country’s exports promotion value
- above all