Fundamentals of Business Activities Test 21

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Fundamentals of Business Activities Test 21

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Weekly Quiz Competition

Question 1
1 / -0

In India, the three major objectives of economic policy are growth, social justice and price stability. Which of the above objectives can be pursued most effectively by the monetary authorities of the country?

A
Growth

B
Social Justice

C
Price Stability

D
None of the above

Solution

In India, the three major objectives of economic policy are growth, social justice and price stability. Social Justice can be pursued most effectively by the monetary authorities of the country. Social justice can be defined which is an ideal situation where everone gets equal treatment; any sort of dicimination is not applicable.
Question 2
1 / -0

Quantitative measures to control credit are also called _____________.

A
General Measures

B
Selective Methods

C
Both (a) and (b)

D
Neither (a) nor (b)

Solution

Quantitative or the traditional method of credit control comprises of bank rate policy, open market operations and variable reserve ratio. Qualitative or selective methods of credit control include directive of margin requirement, credit rationing, regulation of consumer credit and direct action.
The correct option is A.
Question 3
1 / -0

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 conversion of rupee to other major currencies and vice versa

D
developing an international market for currencies in India

Solution

Convertibility implies that rupee can be converted into any other country's denomination and vice versa with the exchange rate prevailing at that point of time.
Question 4
1 / -0

The economic reforms have failed to ______________.

A
keep fiscal deficits to the targeted levels

B
fully implement industrial deregulation

C
fully open the economy to trade

D
all of the above

Solution

The economic reforms have failed to keep fiscal deficits to the targeted levels, fully implement industrial deregulation and fully open the economy to trade.
Question 5
1 / -0

Which of the following methods cannot be used as an instrument of Quantitative Control of credit by the Central Bank?

A
Bank Rate Policy

B
Open Market Operations

C
Change in Margin Requirements

D
Changes in Reserve Requirements

Solution

Change in margin requirements cannot be used as an instrument of Quantitative Control of credit by the Central Bank. Change in margin requirement is used as an instrument of Qualitative control of credit. The margin requirement refers to the difference between the current value of the security offered for loan and the value of loan granted.
Question 6
1 / -0

India is on ___________.

A
paper currency standard

B
metal currency standard

C
both paper and metal currency standard

D
none of the above

Solution

India is on paper currency standard as India has most of its currency denominations as paper notes with worth and relevant details printed on it along with the stamp of RBI. Paper currency is circulated and used for transaction-related purposes.
Question 7
1 / -0

The share of tertiary sector in India's GDP in (2011-12) is _____________.

A
Around 46%

B
Around 42%

C
Around 74%

D
None of the above

Solution

The tertiary sector contributed to about 46.3% of the Indian GDP in the year 2011-2012.
Question 8
1 / -0

Who first raised the fears of a world food shortage?

A
David Ricardo

B
T.R. Malthus

C
J.S. Mill

D
J.B. Say

Solution

Thomas Robert Malthus was an English cleric and scholar, influential in the fields of political economy and demography who for the first time proposed the condition of food shortage on the grounds of scarce resources and unlimited wants after studying the world demographics.
Question 9
1 / -0

Of the major $$12$$ ports, _________ has been the top traffic handler for last five years.

A
Paradip

B
Cochin

C
Kandla

D
Mumbai

Solution

Kandla, also known as the Kandla Port Trust or Deendayal Port is a seaport in the Kutch district of Gujarat state in western India, near the city of Gandhidham. Located on the Gulf of Kutch, it is one of the major ports on the west coast as it is one of the top traffic handlers of all the merchandise that is imported and exported to the western countries.
Question 10
1 / -0

Almost __________ percent of India's global merchandise trade is carried through the sea route.

A
$$95$$

B
$$65$$

C
$$80$$

D
$$55$$

Solution

According to the data, in India 95 percent of the merchandise goods are exported to international market through sea route because it involves lesser costs than any other medium of transport to carry bulk of goods.

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Re-Attempt Weekly Quiz Competition

Fundamentals of Business Activities Test 21

Result

Fundamentals of Business Activities Test 21

Score

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Rank

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SHARING IS CARING

Question 1

Growth

Social Justice

Price Stability

None of the above

Solution

Question 2

General Measures

Selective Methods

Both (a) and (b)

Neither (a) nor (b)

Solution

Question 3

being able to convert rupee notes into gold

allowing the value of the rupee to be fixed by market forces

freely permitting the conversion of rupee to other major currencies and vice versa

developing an international market for currencies in India

Solution

Question 4

keep fiscal deficits to the targeted levels

fully implement industrial deregulation

fully open the economy to trade

all of the above

Solution

Question 5

Bank Rate Policy

Open Market Operations

Change in Margin Requirements

Changes in Reserve Requirements

Solution

Question 6

paper currency standard

metal currency standard

both paper and metal currency standard

none of the above

Solution

Question 7

Around 46%

Around 42%

Around 74%

None of the above

Solution

Question 8

David Ricardo

T.R. Malthus

J.S. Mill

J.B. Say

Solution

Question 9

Paradip

Cochin

Kandla

Mumbai

Solution

Question 10

$$95$$

$$65$$

$$80$$

$$55$$

Solution

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