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33. Economic growth is dependent mainly on–
(A) Level of consumption
(B) Price stability
(C) Level of investment
(D) Population growth
Ans. (C)

34. To achieve high rates of growth of national output, the economy has to–
(A) Reduce the rate of growth of population
(B) Borrow foreign capital
(C) Step up the rate of savings
(D) Increase the rate of investment and reduce the capital output ratio
Ans. (D)

35. The self-employed in a developing country who are engaged in small scale labour intensive work belong to the–
(A) Informal Sector
(B) Primary Sector
(C) Secondary Sector
(D) Tertiary Sector
Ans. (B)

36. ICI is related with–
(A) Multinational company for manufacture of chemicals
(B) Indian Cannot Industry.
(C) Chamber of Commerce and Industry
(D) Private Sector Bank
Ans. (A)

37. What is referred to as ‘Depository Services’?
(A) A new scheme of fixed deposits
(B) A method for regulating stock exchanges
(C) An agency for safe keeping of securities.
(D) An advisory service to investors
Ans. (C)

38. Long-term funds in the capital market can be raised either by borrowing from certain institutions or through–
(A) Issue of note
(B) Taking loan from government
(C) Issue of securities
(D) Taking loan from foreign institutions
Ans. (C)

39. Purchasing power parity theory is related with–
(A) Interest Rate
(B) Bank Rate
(C) Wage Rate
(D) Exchange Rate
Ans. (D)

40. In India, one-rupee coins, notes and subsidiary coins are issued by–
(A) The Reserve Bank of India
(B) The Central Government
(C) The State Bank of India
(D) The Unit Trust of India
Ans. (B)

41. A seller or buyer protects his business or holdings from changing prices and takes action against it. It is known as–
(A) Defence
(B) Betting
(C) Inter-trading
(D) Mortgage
Ans. (A)

42. The Minimum Wages Act was first passed in India in the year-
(A) 1947 (B) 1948
(C) 1950 (D) 1951
Ans. (B)

43. Who coined the term ‘Hindu rate of growth’ for Indian economy?
(A) AK Sen
(B) Kirit S Parikh
(C) Raj Krishna
(D) Montek Singh Ahluwalia
Ans. (C)

44. Compared to the rich, the poor save–
(A) A larger part of their income
(B) An equal part of their income
(C) A smaller part of their income
(D) All of their incomes
Ans. (C)

45. According to socialism who is the greatest enemy of society?
(A) Personal Property
(B) Capitalist Class
(C) Religion
(D) Cost
Ans. (A)

46. “Price Index” is measured by change in which of the following?
(A) Living Standard
(B) Purchasing power of money
(C) Balance of Payment
(D) Balance of Trade
Ans. (B)

47. ‘Gold’ is mainly related to-
(A) Local Market
(B) National Market
(C) International Market
(D) Regional Market
Ans. (C)

48. “Barter – System” means–
(A) Exchange of goods with coins
(B) Exchange of goods with goods
(C) Money exchange
(D) Exchange of goods with gold coins
Ans. (B)

49. For any product, balance of market is decided by–
(A) Market supply of product
(B) Various forces operating between demand and supply
(C) Intervention of government
(D) Market demand of product
Ans. (B)

50. The system of “Memorandum of Understandings” (MoU) was introduced in–
(A) 1989-90 (B) 1990-91
(C) 1987-88 (D) 1988-89
Ans. (C)

51. The Number of stages in trade cycle is?
(A) Five (B) Six
(C) Three (D) Four


52. Special Economic Zone (SEZ) concept was first introduced in–
(A) China (B) Japan
(C) India (D) Pakistan
Ans. (A)

53. How far does the exclusive economic zone of a country extend from her coast?
(A) 120 km (B) 220 km
(C) 370 km (D) 420 km
Ans. (C)
54. Where is the Indian Institute of foreign trade located?
(A) New Delhi
(B) Hyderabad
(C) Mumbai
(D) Ahmedabad
Ans. (A)
55. The definition of ‘small-scale industry’ in India is based on–
(A) Sales by the unit
(B) Investment in machines and equipment’s
(C) Market coverage
(D) Export capacity
Ans. (B)

56. Industrial Exit Policy means–
(A) Forcing foreign companies to leave India
(B) Forcing business units to move out of congested localities
(C) Allowing manufacturers to shift their line of products
(D) Following business units to close down
Ans. (D)

57. The “Law of Market” propounded by J.B. Say was not acceptable to –
(A) Adam Smith
(B) Marshall
(C) David Recordo
(D) Malthus
Ans. (D)

58. The Phillip’s curve is the schedule showing the relationship between–
(A) Aggregate supply and demand
(B) Total saving and investment
(C) The rate of unemployment and rate of inflation
(D) Demand for and supply of loanable funds
Ans. (C)

59. Goods which are meant either for consumption or for investment are called–
(A) Inferior goods
(B) Intermediate goods
(C) Final goods
(D) Giffen goods
Ans. (C)

60. When the price of a commodity falls, we can expect–
(A) The supply of it to increase
(B) The demand for it to fall
(C) The demand for it to stay constant
(D) The demand for it to increase
Ans. (D)

61. A firm practicing price discrimination will be–
(A) Charging different prices for different qualities of a product
(B) Buying in the cheapest and selling in the dearest markets
(C) Charging different prices in different markets for a product
(D) Buying only from firms selling in bulk at a distance
Ans. (C)

62. A firm is in equilibrium when its–
(A) Marginal cost equals the marginal revenue
(B) Total cost is minimum
(C) Total revenue is maximum
(D) Average revenue and marginal revenue are equal
Ans. (A)

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