Indian Economy Test 59

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Indian Economy Test 59

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Weekly Quiz Competition

Question 1
1 / -0

Consider the following statements
1) Reserve Bank of India (RBI) was established in 1935.
2) The share capital RBI was divided into shares of 100 each which was entirely owned by private shareholders in the beginning .
Which of the statements given above is / are correct ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 2
1 / -0

Consider the following functions of the LAF in Indian Monetary Policy
1) It influences the volume of liquidity in the money market.
2) It stabilises the short-term rate of interest or the call rates.
Which of the functions given above is / are the main functions of the LAF ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 3
1 / -0

Consider the following elements
1) New Broad Money (NM3).
2) All Deposits with the Post Office Savings Banks.
3) National Savings Certificates.
4) Term deposits with Term Lending Institutions and Refinancing Institutions (FIs).
5) Term Borrowing by FIs.
6) Certificates of Deposit issued by FIs.
7) Public Deposits of Non-banking Financial Companies.
Which of the elements given above are the major components of Liquidity Aggregate-3 (L3) of the Indian Monetary policy ?

A
1 , 3 , 4 and 6

B
1 , 2 , 4 , 5 , 6 and 7

C
1 , 2 , 3 , 4 , 5 and 7

D
All of the above
Question 4
1 / -0

Consider the following statements
1) Liquidity aggregates (L3) is disseminated once in a quarter in the Indian Monetary System.
2) Among liquidity aggregates , data on L1 and L2 are published monthly by the Indian Government.
Which of the statements given above is / are correct ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
neither 1 nor 2

Solution

C. Both 1 and 2
L1 and L2 are compiled monthly and L3 on quarterly basis.
L2 L1 : Term deposits with term lending institutions and refinancing
Financial institutions (FIs) + Term borrowing by FIs + Certificates of
deposit issued by FIs.
L3 L2 : Public deposits with non-banking financial companies.
Question 5
1 / -0

Consider the following sources
1. State's share in the Central Taxes
2. Grand-in aid from the Central Government
3. States' own non-tax revenue
Which of the sources given above is/are the important source of revenue for the States ?

A
1 and 2

B
Only 1

C
2 and 3

D
All of these
Question 6
1 / -0

The Eurozone Finance Ministers and the International Monetary Fund signed a deal in Brussels to and Cyprus with a bailout worth 10 billion Euros. Which of the following is/are features of the bailout deal ?
1. Cyprus agreed for Increasing the nominal corporate tax rate to 112.5%. Thus increasing it by 2.5%.
2. An imposition of 9.9% apart from the bank deposits above 100000 Euros in the Banks a part from the 6.75% tax on the smaller deposits.
3. The tax on interest. which will be generated by the deposits will also be levied.
4. The tax measures will help in boosting the revenues of Cyprus a part from limiting the loan size which is required from Eurozone.
Choose the correct answer from codes given below.

A
Only 1

B
2, 3 and 4

C
3 and 4

D
All of these
Question 7
1 / -0

Which one of the following deficits deducted the interest payments to internal and external debt from the fiscal deficit to Calculate the deficit of an economy ?

A
Revenue deficit

B
Twin deficit

C
Primary deficit

D
Budgetary deficit
Question 8
1 / -0

Consider the following
1. VAT is the neutral tax since it does not influence the organisation of production.
2. VAT is easier to enforce than the Sales Tax to impose through cross-checking.
Which of the statements given above Is/are correct about Value Added Tax (VAT) ?

A
Only 1

B
Only 2

C
Both 1 and 2

D
Neither 1 nor 2
Question 9
1 / -0

Consider the following statements regarding India's Minimum Reserve system and select the incorrect one / one's using the codes given below
1) In minimum reserve system , RBI had to keep a minimum reserve of gold worth Rs. 115 crore and rest in Indian rupees.
2) The minimum requirement of foreign securities was diluted when minimum reserve system was launched.

A
Only 1

B
Only 2

C
1 and 2

D
Neither 1 nor 2
Question 10
1 / -0

If all the banks in an economy are nationalized and converted into monopoly banks , the total deposits ______________.

A
will decrease

B
will increase

C
Neither increase nor decrease

D
None of the above

Solution

Because the created bank will function in monopoly and will try giving no impetus to increase the savings done by the depositors.

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Indian Economy Test 59

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Indian Economy Test 59

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SHARING IS CARING

Question 1

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 2

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 3

1 , 3 , 4 and 6

1 , 2 , 4 , 5 , 6 and 7

1 , 2 , 3 , 4 , 5 and 7

All of the above

Question 4

Only 1

Only 2

Both 1 and 2

neither 1 nor 2

Solution

Question 5

1 and 2

Only 1

2 and 3

All of these

Question 6

Only 1

2, 3 and 4

3 and 4

All of these

Question 7

Revenue deficit

Twin deficit

Primary deficit

Budgetary deficit

Question 8

Only 1

Only 2

Both 1 and 2

Neither 1 nor 2

Question 9

Only 1

Only 2

1 and 2

Neither 1 nor 2

Question 10

will decrease

will increase

Neither increase nor decrease

None of the above

Solution

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