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question_answer1)
What change took place in India's Foreign trade after independence?
A)
Increase in percentage share of agriculture done
clear
B)
Increase in percentage share of country's finished products done
clear
C)
Rise in traditional exports done
clear
D)
None of the above done
clear
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question_answer2)
In 1950-51, deficit in India's balance of trade was estimated at:
A)
Rs. 2 crore done
clear
B)
Rs. 10 crore done
clear
C)
Rs. 80 crore done
clear
D)
Rs. 100 crore done
clear
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question_answer3)
During 1950-90, India adopted:
A)
export promotion policy done
clear
B)
free trade policy done
clear
C)
policy of imports substitution done
clear
D)
None of the above done
clear
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question_answer4)
Following was the feature of India's Foreign Trade during 1950-90:
A)
the volume and value of foreign trade increased slowly done
clear
B)
exports were rising faster than imports done
clear
C)
the USSR and East Europe had a dominating position in India's Foreign Trade done
clear
D)
None of the above done
clear
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question_answer5)
During 1950-90:
A)
the share of agricultural products in country's exports increased done
clear
B)
the share of manufactured goods in country's exports increased done
clear
C)
the share of agricultural products increased while that of manufacturers decreased done
clear
D)
None of the above done
clear
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question_answer6)
Types of goods which are exported and imported by a nation is called:
A)
Balance of trade done
clear
B)
Direction of trade done
clear
C)
Composition of trade done
clear
D)
Trade surplus done
clear
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question_answer7)
A strategy to earn foreign exchange by making domestic industries competitive in the international market is called:
A)
Export promotion done
clear
B)
Import substitution done
clear
C)
Inward looking trade strategy done
clear
D)
Both [b] and [c] done
clear
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question_answer8)
The trade reforms were:
A)
removal of quotas done
clear
B)
taking away control over foreign exchange use done
clear
C)
Both [a] and [b] done
clear
D)
None of the above done
clear
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question_answer9)
Inward looking trade strategy is also known as a policy of
A)
Import relaxation done
clear
B)
Import substitution done
clear
C)
Import promotion done
clear
D)
None of these done
clear
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question_answer10)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
(A) | X > M | 1. | Balanced Trade balance |
(B) | X=M | 2. | Surplus Trade |
(C) | X<M | 3. | Deficit Trade |
(D) | Export and Import | 4. | Foreign Trade |
A)
A - 3, B - 1, C - 4, D - 2 done
clear
B)
A - 2, B - 1, C - 3, D - 4 done
clear
C)
A - 1, B - 3, C - 2, D - 4 done
clear
D)
A - 4, B - 2, C - 1, D - 3 done
clear
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question_answer11)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
(A) | Quantum of export and imports | 1. | Composition of trade |
(B) | Types of goods and services exported and imported | 2. | Volume of trade |
(C) | Countries to which India exports and from which India imports | 3. | Gains of trade |
(D) | Benefits arising out of export and imports | 4. | Direction of trade |
A)
A - 2, B - 1, C - 4, D - 3 done
clear
B)
A - 4, B - 2, C - 3, D - 1 done
clear
C)
A - 1, B - 3, C - 2, D - 4 done
clear
D)
A - 3, B - 4, C - 1, D - 2 done
clear
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question_answer12)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
(A) | Prime Minister | 1. | Improvements in the field of agriculture to increase its productivity |
(B) | Gross Domestic Product | 2. | Quantity of goods that can be imported |
(C) | Quota | 3. | Chairperson of the Planning Commission |
(D) | New Agricultural Strategy | 4. | The money value of all the final goods and services produced within the domestic territory in one year |
A)
A - 3, B - 4, C - 2, D - 1 done
clear
B)
A - 3, B - 4, C - 1, D - 2 done
clear
C)
A - 4, B - 3, C - 1, D - 2 done
clear
D)
A - 1, B - 2, C - 3, D - 4 done
clear
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question_answer13)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
(A) | Agricultural sector | 1. | Drain of India's wealth |
(B) | Industrial sector | 2. | Lack of social infrastructure |
(C) | Foreign trade | 3. | Low public investment |
(D) | Low literacy rate of life expectancy | 4. | Surplus labour |
A)
A - 4, B - 1, C - 2, D - 3 done
clear
B)
A - 1, B - 4, C - 3, D - 2 done
clear
C)
A - 4, B - 3, C - 1, D - 2 done
clear
D)
A - 3, B - 2, C - 4, D - 1 done
clear
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question_answer14)
Economic reforms in India were started in India:
A)
1951 done
clear
B)
1985 done
clear
C)
1991 done
clear
D)
2001 done
clear
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question_answer15)
What is the number of industries reserved for public sectors?
A)
Eight done
clear
B)
Two done
clear
C)
Five done
clear
D)
Four done
clear
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question_answer16)
Which of the following industry is not reserved for the public sector?
A)
Atomic energy done
clear
B)
Rail transport done
clear
C)
Iron and steel done
clear
D)
None of these done
clear
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question_answer17)
Who is the Chairman of the GST Council?
A)
Finance Minister done
clear
B)
Prime Minister done
clear
C)
Finance Secretary done
clear
D)
Deputy Chairman of NITI Aayog done
clear
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question_answer18)
When was MUDRA bank set-up?
A)
1991 done
clear
B)
1994 done
clear
C)
2000 done
clear
D)
2015 done
clear
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question_answer19)
GST has been implemented from:
A)
April, 2018 done
clear
B)
January 1, 2018 done
clear
C)
January 1, 2017 done
clear
D)
July 1, 2017 done
clear
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question_answer20)
Which of the following replaced MRTP Act?
A)
Competition Act done
clear
B)
Foreign Exchange Management Act done
clear
C)
New Companies Act done
clear
D)
None of the above done
clear
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question_answer21)
Who regulate the International Trade?
A)
IMF done
clear
B)
World Bank done
clear
C)
WTO done
clear
D)
UNO done
clear
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question_answer22)
Which of the following regulates the inflow and outflow of foreign exchange in India?
A)
FERA done
clear
B)
FEMA done
clear
C)
MRTP done
clear
D)
SEBI done
clear
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question_answer23)
Which of the following is not an instrument of fiscal policy?
A)
Taxation done
clear
B)
Public expenditure done
clear
C)
Interest rate done
clear
D)
Government borrowings done
clear
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question_answer24)
Which of the following statements is false?
A)
Deregulation of the industries is not good for the economy done
clear
B)
Structural reforms are long-term measures done
clear
C)
Globalisation is achieved by increasing tourism done
clear
D)
Liberalisation is an economic reform done
clear
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question_answer25)
Which one of these is still to be bought by the private sector?
A)
Air India done
clear
B)
ONGC done
clear
C)
SAIL done
clear
D)
BHEL done
clear
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question_answer26)
Which of the following statements is not true?
A)
Globalisation is opening up of the economy to the rest of the world done
clear
B)
Liberalisation is removal of controls from the private sector done
clear
C)
Privatisation is reducing the economic activity of private sector. done
clear
D)
None of the above done
clear
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question_answer27)
WTO has been established in:
A)
1960 done
clear
B)
1992 done
clear
C)
1963 done
clear
D)
1995 done
clear
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question_answer28)
BPO means:
A)
Business Policy Outsource done
clear
B)
Business Process Organisaton done
clear
C)
Business Process Outsourcing done
clear
D)
None of the above done
clear
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question_answer29)
RBI was set-up in:
A)
2006 done
clear
B)
1971 done
clear
C)
1963 done
clear
D)
1935 done
clear
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question_answer30)
Government declared ......... public sector undertakings as Navaratnas.
A)
6 done
clear
B)
9 done
clear
C)
3 done
clear
D)
12 done
clear
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question_answer31)
WTO is located in:
A)
Geneva done
clear
B)
Berlin done
clear
C)
New York done
clear
D)
Japan done
clear
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question_answer32)
......... implies free interaction among all the countries in various fields like trade technology, Outsourcing etc.
A)
Monopoly done
clear
B)
Privatisation done
clear
C)
Policy reform done
clear
D)
Globalisation done
clear
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question_answer33)
Selling-off part of the equity of PSU's is called:
A)
Globalisation done
clear
B)
Privatisation done
clear
C)
Disinvestment done
clear
D)
None of these done
clear
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question_answer34)
New Economic Policy was announced in:
A)
June 1990 done
clear
B)
July 1990 done
clear
C)
July 1991 done
clear
D)
January 1991 done
clear
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question_answer35)
......... and........ currency notes of old Mahatma Gandhi series were banned as Legal tender money on 8th November, 2016.
A)
` 50 and ` 100 done
clear
B)
` 500 and ` 1000 done
clear
C)
` 500 and ` 2000 done
clear
D)
` 500 and ` 200 done
clear
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question_answer36)
Demonetisation does not target:
A)
tax administration done
clear
B)
cashless economy done
clear
C)
credit creation done
clear
D)
encouragement to black money done
clear
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question_answer37)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
A. | Privatisation | 1. | Hiring services from external sources |
B. | Globalisation | 2. | Transfer of ownership from public to private |
C. | Liberalisation | 3. | Reducing restrictions by government on firms |
D. | Outsourcing | 4. | Integrating Indian Economy with rest of the world |
A)
A - 4, B - 1, C - 2, D - 3 done
clear
B)
A - 2, B - 4, C - 3, D - 1 done
clear
C)
A - 3, B - 2, C - 1, D - 4 done
clear
D)
A - 1, B - 3, C - 4, D - 2 done
clear
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question_answer38)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
A. | New Economic Policy | 1. | 1995 |
B. | GST | 2. | 1991 |
C. | MUDRA | 3. | 2017 |
D. | WTO | 4. | 2015 |
A)
A - 2, B - 3, C - 4, D - 1 done
clear
B)
A - 1, B - 4, C - 3, D - 2 done
clear
C)
A - 3, B - 2, C - 1, D - 4 done
clear
D)
A - 4, B - 1, C - 2, D - 3 done
clear
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question_answer39)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
A. | MRTP Act | 1. | to encourage liberalisation |
B. | FERA | 2. | to encourage globalisation. |
C. | Delicensing | 3. | abolished to aid privatisation |
D. | IGST | 4. | to enable competition with domestic goods |
A)
A - 1, B - 2, C - 3, D - 4 done
clear
B)
A - 2, B - 3, C - 4, D - 1 done
clear
C)
A - 3, B - 1, C - 2, D - 4 done
clear
D)
A - 4, B - 3, C - 1, D - 2 done
clear
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question_answer40)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
A. | Demonetisation | 1. | Selling equity to private sector |
B. | GST | 2. | end poverty in all forms everywhere |
C. | Disinvestment | 3. | Centralisation of tax |
D. | NITI Aayog | 4. | Declaring some currency as illegal tender |
A)
A - 4, B - 1, C - 2, D - 3 done
clear
B)
A - 3, B - 1, C - 4, D - 2 done
clear
C)
A - 4, B - 3, C - 1, D - 2 done
clear
D)
A - 2, B - 1, C - 3, D - 4, done
clear
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question_answer41)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
A. | Jobless growth | 1. | Renault, Marks and Spencer |
B. | MNC | 2. | growth with no increase in jobs |
C. | Deregulated under NEP 1991 | 3. | reduced under NEP, 1991 |
D. | Quota on imports | 4. | cement, steel newsprint |
A)
A - 4, B - 1, C - 2, D - 3 done
clear
B)
A - 3, B - 1, C - 4, D - 2 done
clear
C)
A - 4, B - 3, C - 1, D - 2 done
clear
D)
A - 2, B - 1, C - 4, D - 3 done
clear
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question_answer42)
From the following statements given in Column I and Column II, choose the correct pair of statements:
Column I | Column II |
A. | Economic infrastructure | 1. | Education |
B. | Social infrastructure | 2. | Sanitation |
C. | Essential for health | 3. | Communication |
D. | Contributes to both | 4. | Transport |
A)
A - 4, B - 1, C - 2, D - 3 done
clear
B)
A - 1, B - 3, C - 4, D - 2 done
clear
C)
A - 3, B - 2, C - 1, D - 4 done
clear
D)
A - 2, B - 4, C - 3, D - 1 done
clear
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