Model Questions for Scientific Assistant (IMD) Exam (Paper-1) Indian Economy - Set 38

Write and Discuss Your Answer with Q.No in Comment Box at the Bottom of Post.

1. Consider the following statements.

A. India ranks first in the world in fruit production.
B. India ranks second in the world in the export of tobacco.

Which of these statements is are correct?

(a) Only A
(b) Only B
(c) both A and B
(d) neither A nor B

2. Consider the following statements.

A. Damodar Valley Corporation is the first multipurpose river valley project of independent India
B. Damodar Valley Corporation includes thermal and gas power stations

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

3. Consider the following taxes.

A. Corporation tax
B. Customs duty
C. Wealth tax
D. Excise duty

Which of these is are indirect taxes?

(a) A only
(b) Band D
(c) A and C
(d) B and C

4. Convertibility of the rupee implies

(a) being able to convert rupee notes into gold
(b) allowing the value of the rupee to be fixed by market forces
(c) freely permitting the conversation of rupee of other major currencies and vice versa
(d) developing an international market for currencies in India

5. Corporation tax

(a) is levied and appropriated by the States
(b) is levied by the Union and collected and appropriated by the States
(c) is levied by the Union and shared by the Union and the States
(d) is levied by the Union and belongs to it exclusively

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6. Debenture holders of a company are its

(a) shareholders
(b) creditors
(c) debtors
(d) directors

7. Devaluation of a currency means

(a) reduction in the value of a currency vis-a-vis major internationally traded currencies
(b) permitting the currency to seek its worth in the international market
(c) fixing the value of the currency in conjunction with the movement in the value of a basket of predetermined currencies
(d) fixing the value of a currency in multilateral consultation with the IMF, the World Bank, and major trading partners

8. Economic liberalization in India started with

(a) substantial changes in industrial licensing policy
(b) the convertibility of Indian rupee
(c) doing away with procedural formalities for foreign

direct investment

(d) significant reduction in tax rates

9. Economic survey in India is published officially, every year by the

(a) Reserve Bank of India
(b) Planning Commission of India
(c) Ministry of Finance, Government of India
(d) Ministry of Industries, Government of India

10. Euro dollars are:

(a) a currency issued by European Monetary Union
(b) special currency issued by federal government of USA to be issued only in Europe
(c) US dollars circulating in Europe
(d) European currencies exchanged for the US dollar in US

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Answer

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