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1. In which among the following years, a new “Liberalized Industrial Policy” in India was announced for the first time?

[A] 1986

[B] 1991

[C] 1992

[D] 1993


2. In which among the following years, the MRTP act became effective?

[A] 1970

[B] 1972

[C] 1975

[D] 1978


3. In the Industrial Policy of 1991, how many industries were reserved only for Public Sector?

[A] 7

[B] 8

[C] 11

[D] 13


4. In an oligopolistic or monopolistically competitive market, firms do not raise their prices because even a small price increase will lose many customers. Which among the following is the most suitable terms used for this concept ?

[A] Supracompetitive pricing

[B] Swing Demand

[C] Kinked Demand

[D] Imperfect competition


5. Which among the following was NOT a reason behind India’s poverty as pointed out by Dadabhai Naoroji in his famous work “Poverty and Un-British Rule in India” ?

[A] Expenditure of the European Officials in England

[B] Money sent by the British professionals to England

[C] India’s Population growth

[D] Bringing of British Capital in India


6. Which among the following was the first deepwater block in India to start production?

[A] Krishna Godavari D-6

[B] Mahanadi deepwater block NEC-DWN-2002/1

[C] SB-11

[D] KG-DWN- 2005/2


7. Which among the following represents a decrease in the Owner’s equity?

[A] Issue of Bonus Shares

[B] Redemption of the Debentures

[C] Redemption of the Preference Shares

[D] Purchase of the Building


8. Which among the following will be a debit entry in India’s balance of payments?

[A] Imports of goods by India

[B] Income of Indian investments abroad

[C] Receipts of transfer payments

[D] Exports of services by India


9) India opted for ‘Mixed Economy’ in?
[A] First Five Year Plan
[B] Second Five Year Plan
[B]Industrial Policy of 1948
[D] Framing of the Constitution
10) Among Indian Economics who had done pioneering work on National Income ?
[A] P.N. Dhar
[B] Jagdish Bhagwati
[C]V. K. R. V. Rao
[D] Prof. Shenoi


1)[B] 1991

2)[A] 1970

3)[B] 8

4)[C] Kinked Demand

5)[C] India’s Population growth

6)[A] Krishna Godavari D-6

7)[B] Redemption of the Debentures

8)[B] Income of Indian investments abroad

9)[C] Industrial Policy of 1948

10)[C]V. K. R. V. Rao



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