General Knowledge Quiz - Indian Economy 1

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General Knowledge Quiz on  Indian Economy 1

1. Since independence, both development and non-development expenditures have increased; the increase in the former being a little more than in the other. Non-development expenditure involves

I.interest payments

A. I, II
B. I

2. Deficit financing leads to inflation in general, but it can be checked if

A. government expenditure leads to increase in the aggregate supply in ratio of aggregate demand
B. only aggregate demand is increased
C. all the expenditure is denoted national debt payment only
D. All of the above

3. Deficit financing means that the government borrows money from the

B. local bodies
C. big businessmen

4. If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits

A. will decrease
B. will increase
C. will neither increase nor decrease
D. None of the above

5. Since the inception of the co-operative movement, rural credits has been

A. institutionalized
B. rationalized
C. cheapened
D. All of the above

6. India changed over to the decimal system of coinage in

A. April 1995
B. April 1957
C. April 1958
D. April 1959

7. Which of the following is not viewed as a national debt?

A. Provident Fund
B. Life Insurance Policies
C. National Saving Certificate
D. Long-term Government Bonds

8. Depreciation means

A. closure of a plant due to lock out
B. closure of a plant due to labour trouble
C. loss of equipment over time due to wear and tear
D. destruction of a plant in a fire accident

9. The condition of indirect taxes in the country's revenue is approximately

A. 70 percent
B. 75 percent
C. 80 percent
D. 86 percent

10. Revenue of the state governments are raised from the following sources, except

A. entertainment tax
B. expenditure tax
C. agricultural income tax
D. land revenue

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