Model Questions for Scientific Assistant (IMD) Exam (Paper-1) Indian Economy - Set 37

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1. A consumer is said to be in equilibrium, if

(a) he is able to fulfill his need with a given level of income
(b) he is able to live in full comfort with a given level of income
(c) he can fulfill his needs without consumption of certain items
(d) he is able to locate new sources of income

2. A country is said to be in a debt trap if

(a) it has to abide by the conditionalities imposed by the International Monetary Fund
(b) it has to borrow to make interest payments on outstanding loans
(c) it has been refused loans or aid by creditors abroad
(d) the World Bank charges a very high rate of interest on outstanding as well as new loans

3. A redistribution of income in a country can be best brought about through

(a) progressive taxation combined with progressive expenditure
(b) progressive taxation combined with regressive expenditure
(c) regressive taxation combined with regressive expenditure
(d) regressive taxation combined with progressive expenditure

4. A rise in ‘SENSEX’ means

(a) a rise in prices of shares of all companies registered with Bombay Stock Exchange
(b) a rise in price of shares of all companies registered with National Stock Exchange
(c) an overall rise in prices of shares of group of companies registered with Bombay Stock Exchange
(d) a rise in prices of shares of all companies belonging to a group of companies registered with Bombay Stock Exchange

5. A zero rate of inflation obtains necessarily in a year where the annual rate of inflation

(a) in every week of the year is zero
(b) is failing in every week of the year
(c) is both falling and rising in a year
(d) is constant in every week of the year

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6. Agricultural income tax is assigned to the State Government by

(a) the Finance Commission
(b) the National Development Council
(c) the Inter-state Council
(d) the Constitution of India

7. Arrange the following states in descending order with respect to urban population.
Choose your answer from the following codes.

A. Tamil Nadu B. Uttar Pradesh
C. Maharashtra D. West Bengal
(a) A, B, C, D (b) B, A, C, D
(c) C, B, A, D
(d) C, A, B, D

8. Bank Rate implies the rate of interest

(a) paid by the Reserve Bank of India on the deposits of commercial banks.
(b) charged by banks on loans and advances
(c) payable on bonds
(d) at which the Reserve Bank of India discounts the Bills of Exchange

9. Capital Account Convertibility of the Indian Rupee implies

(a) that the Indian Rupee can be exchanged by the authorized dealers for travel
(b) that the Indian Rupee can be exchanged for any major currency for the purpose of trade in goods and services
(c) that the Indian Rupee can be exchanged for any major currency for the purpose of trading financial assets
(d) none of the above

10. Consider the following statements.

A. National Thermal Power Corporation has diversified into hydropower sector
B. Power Grid Corporation of India has diversified in telecom sector

Which of the statements given above is/are correct?
(a) A only (b) B only
(c) both A and B
(d) neither A nor B

Answer

1. (a) 2. (b) 3. (a) 4. (c) 5. (c) 6. (d) 7. (a) 8. (d) 9. (c) 10. (c)

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