Indian economy

1) In the second nationalization of commercial banks ……………. Banks were nationalized.

a) 4.
b) 5.
c) 6.
d) 8.

ANSWER : 6

2) If all the banks in an economy are nationalized and converted into a monopoly bank, the total deposits:

a) Will decrease.
b) Will increase.
c) Will neither increase nor decrease.
d) None of the above.

ANSWER : Will neither increase nor decrease

3) India changed over to the decimal system of coinage in which year?

a) April 1995.
b) April 1957.
c) April 1958.
d) April 1959.

ANSWER : April 1957

4) Gross domestic capital formation is defined as:

a) Flow of expenditure devoted to increase or maintaining of the capital stock.
b) Expenditure incurred on physical assets only.
c) Production exceeding demand.
d) Net addition to stock after depreciation.

ANSWER : Net addition to stock after depreciation

5) On July 12 1982, the ARDC was merged into:

a) RBI.
b) NABARD.
c) EXIM bank.
d) None of these.

ANSWER : NABARD

6) The central co-operative banks are in direct touch with:

a) Farmers.
b) State co-operative banks.
c) Land development banks.
d) Central government.

ANSWER : State co-operative banks

7) Maximum revenue in States are Earned Through

a) Land revenue.
b) Custom revenue.
c) Commercial taxes.
d) Excise duties on intoxicants.

ANSWER : Custom revenue

8) Excise duty is a tax levied on the:

a) Import of goods.
b) Export of goods.
c) Production of goods.
d) Sale of goods.

ANSWER : Production of goods

9) The condition of indirect taxes in the country’s revenue is approximately?

a) 70 percent.
b) 75 percent.
c) 80 percent.
d) 86 percent.

ANSWER : 86 percent

10) Deficit Financing means that the government borrows money from the:

a) RBI.
b) Local bodies.
c) Big businessmen.
d) IMF.

ANSWER : RBI