NABARD Grade A Economics & Social Issues (ESI ) Daily Quiz Questions Set- 4

1) Globalisation of Indian Economy’ means__________

1. Stepping up external borrowings
2. establishing Indian business units abroad
3. having minimum possible restrictions on economic relations with other countries
4. giving up programmes of import substitution

2) The Structural Adjustment Loan to Support Indian Economy’s leap into a more competitive and efficient environment has been secured from

1. the World Bank
2. Bank of America
3. the Asian Development Bank
4. International Monetary Fund

3) The term mixed economy denoted________

1.Existence of both rural and urban sectors
2.existence of both private and public sectors
3.Existence of both heavy and small industries
4.Existence of both developed and underdeveloped sectors

4)An expenditure that has been made and cannot be recovered is called_____________?

1.Variable cost
2.Opportunity cost
3.Sunk Cost
4.Operational cost

5)Economic liberalisation in India started with_________

1.substantial changes in industrial licensing policy
2.the convertibility of Indian rupee
3.doing away with procedural formalities for foreign direct investment
4.significant reduction in tax rates

6)In India planned economy is based on___________

1.Gandhian System
2.Socialist System
3.Capitalist System
4.Mixed Economy system

7)When development in economy takes place, the share of tertiary sector in National Income___________

1.First falls and the rises
2.first rises and then falls
3.keeps on increasing
4.remains constant

8) Gross domestic capital formation is defined as________

1. flow of expenditure devoted to increased or maintaining of the capital stock
2. expenditure incurred on physical assets only
3. production exceeding demand
4. net addition to stock after depreciation

9)The ratio of foreign rates to domestic rates measured in the ‘same’ currency is known as____

1. Real exchange rate
2. Nominal exchange rate
3. Superfluous exchange rate
4. None of the above

10.When was the International Monetary Fund (IMF) set up?

1. 1912
2. 1214
3. 1942
4. 1944

Answer:-

1)3. having minimum possible restrictions on economic relations with other countries

2)1. the World Bank

3)2.existence of both private and public sectors

4)3.Sunk Cost

5)1.substantial changes in industrial licensing policy

6)2.Socialist System

7) 3.keeps on increasing

8)4. net addition to stock after depreciation

9)1. Real exchange rate

10)4. 1944