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Indian Economy Test 39

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Indian Economy Test 39
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Weekly Quiz Competition
  • Question 1
    1 / -0
    Which one of the following unemployments is also known as search unemployment which occurs at  the time period between jobs when a worker is searching for or transitioning from one job to another?
  • Question 2
    1 / -0
    What will be the nature of the Beveridge curve when there is prevalent of the long term unemployment due to deterioration of human capital or a negative perception of the unemployed by the potential employers in an economy?
  • Question 3
    1 / -0
    Which one of the following services is included in the services sector of Indian Economy?
    Solution
    Service sector is the tertiary sector of Indian economy and forms the largest contributor to GDP. Tourism, health care, education, transportation, communication, engineering, information technology, finance, banking, management and other such services form part of the services sector in India.
  • Question 4
    1 / -0
    Which one of the following laws/curves stated that the lower the unemployment in an economy, the higher the rate of inflation?
    Solution
    Philips curve is a historical inverse relationship between the rate of unemployment and the rate of inflation in an economy. Philip's curve stated that the lower the unemployment in an economy, the higher the rate of inflation.
  • Question 5
    1 / -0
    Consider the following statements
    1. International Development Association (IDA) is a member of the World Bank Group
    2. IDA complements the International Bank for Reconstruction and Development by lending to development by leading to developing countries which suffer from the lowest gross national income, from troubled credit-worthiness, or from the lowest per capita income
    3. International Development Association and International Banks for Reconstruction and Development are collectively known as the World Bank
    Which of the statements given above are correct?
  • Question 6
    1 / -0
    Which one of the following is the act of stimulating the economy by increasing the money supply or by reducing taxes?
  • Question 7
    1 / -0
    Which one of the following sub-sector of the services sector in India has contributed the highest per cent in the annual growth rate of the GDP?
    Solution
    Real estate, ownership of dwellings and business services are the biggest contributor to growth among the various sub-sectors in the services sector. It formed approximately 14.9% of the share of GDP in 2014-15. It is followed by trade, hotels and restaurants at 11.8%.
  • Question 8
    1 / -0
    Consider the following factors regarding the Structural Unemployment of an economy
    1. Mechanisation of agriculture
    2. Geographical factors or locations
    3. Adoption of robotic technologies to replace unskilled labourers
    Which of the factors given above are correct?
  • Question 9
    1 / -0
    Supply of money remaining the same when there is an increase in demand for money, there will be _____________.
    Solution
    Supply remaining the same, increase in demand for money will lead to more options to lend money for the banks. Thus, banks will lend money at greater rate of interest to earn more money as there are more customers for the same amount of money.
  • Question 10
    1 / -0
    Consider the following statements: 
    1) Reserve Bank of India was nationalised in the year 1955.
    2) Reserve Bank of India is a member bank of the Asian Clearing Union.
    Which of the statement(s) given above is/are correct?
    Solution
    RBI was nationalised as per RBI Act, 1948 with effect from 1st January, 1949. Asian Clearing Union is an organisation set up to provide a system for clearing payments among the member countries on a multilateral basis. India, Iran, Pakistan, Bhutan, Bangladesh, Maldives, Myanmar, Nepal, Sri Lanka are its members.
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