Economics mcq

Economics miscellaneous questions

Question 1
Disinvestment in Public Sector is called
A
Liberalization
B
Globalization
C
Industrialization
D
Privatization
Question 1 Explanation: 
Privatization is the process of transferring an enterprise or industry from the public sector to the private sector. The public sector is the part of the economic system that is run by government agencies. The term has alternate meanings within business and finances.






Question 2
The Accounting Year of Reserve Bank of India runs from ;
A
April to March
B
July to June
C
January to December
D
August to July
Question 2 Explanation: 
The Accounting Year of Reserve Bank of India runs from July to June.
Question 3
On the administered price of which of the following articles no subsidy is given?
A
DAP
B
ATF
C
IPG
D
Kerosene oil
Question 3 Explanation: 
The Bureau of Alcohol, Tobacco, Firearms and Explosives (ATF) is a federal law enforcement organization within the United States Department of Justice. In it no subsidy is given.






Question 4
Internal economies-
A
Arise when there is expansion in an industry
B
Arise in an economy as it makes progress
C
Accrue to a firm when it expands its output
D
Arise when there is expansion in internal trade
Question 4 Explanation: 
"Internal economies are those economies in production which occur to the firm itself when it expands its output or enlarge its scale of production".
Question 5
Out of the various sources of power, the government relies more on
A
Atomic power
B
Thermal power
C
Wind power
D
Hydro Power






Question 6
The Indian economy can be most appropriately described as a:
A
Capitalist economy
B
Socialist economy
C
Traditional economy
D
Mixed economy
Question 6 Explanation: 
The Indian economy can be most appropriately described as a Mixed economy.
Question 7
What is NABARD's primary role?
A
to provide term loans to state co-operative banks
B
to assist state governments for share capital contribution
C
to act as re-finance institution
D
All of the above
Question 7 Explanation: 
Besides this pivotal role, NABARD also: Acts as a coordinator in the operations of rural credit institutions Extends assistance to the government, the Reserve Bank of India and other organizations in matters relating to rural development Offers training and research facilities for banks, cooperatives and organizations working in the field of rural development






Question 8
The pocess of curing inflation by reducing money supply is called
A
Cost-push inflation
B
Demand-pull inflation
C
Disinflation
D
Reflation
Question 8 Explanation: 
Disinflation is a slowing in the rate of price inflation. It is used to describe instances when the inflation rate has reduced marginally over the short term. Although it is used to describe periods of slowing inflation, disinflation should not be confused with deflation, which can be harmful to the economy.
Question 9
What is a fiscal deficit? [Punjab & Sindh Bank 2011]
A
It is a gap between exports and imports minus external borrowings
B
It is a gap between the values of the exports and imports
C
It is a gap between total expenditure and total receipts of the Govt.
D
It is a gap between total receipts minus External Borrowing






Question 10
Which one of the following is not a member of Organization of the Petroleum Exporting Countries (OPEC)? [Asstt Comm 2008]
A
Brazil
B
Algeria
C
Ecuador
D
Nigeria
There are 10 questions to complete.

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