People As Resource Test

Result

People As Resource Test - 14

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Weekly Quiz Competition

Question 1
1 / -0

Which of the following does not relate to the External Sector Reforms in 1991?

A
Devaluation of the Rupee

B
Removal of restrictions on Foreign Exchange transactions

C
Export Support

D
Restrictions on Foreign Direct Investment

Solution

Restrictions on Foreign Direct Investment does not relate to the External Sector Reforms in 1991. After 1991, foreign direct investment was proposed so that India could avail high investments from outside and grow. New economic reforms was enacted in 1991 which liberalized the FDI.
Question 2
1 / -0

'Served from India' brand concept has been started for -

A
Agricultural exports

B
Exports of services

C
Export of handlooms and handicrafts

D
Export of gems and jewellery

Solution

'Served from India' was a concept which was started in 2015 as a export promotion techniques for the services that were exported to various countries.
Question 3
1 / -0

Which of the following does not relate to the External Sector Reforms in 1991?

A
Reduction in the number of items covered by import licenses

B
Permission for free trade of all items except a negative list of imports and exports

C
Increasing of import/ export duty rates

D
Permission for foreign direct investment

Solution

Increasing of import/ export duty rates does not relate to the External Sector Reforms in 1991. As per New economic policy which was adopted in 1991, the import rates and export duty rates were to be decreased so that there would be fair flow of goods between the domestic country and other countries as a result of which there will be rationalization in the tariff structure,
Question 4
1 / -0

In which of the following situations, the Law of Variable Proportions will not apply?

A
Improvement in technology

B
When all factors are proportionately varied

C
Where the factors must be used in fixed proportions to yield the product

D
All of the above

Solution

In the following situations, the Law of Variable Proportions will not apply:
a) Improvement in technology
b) When all factors are proportionately varied c) Where the factors must be used in fixed proportions to yield the product
Law of variable proportions is also known as the law of law of diminishing returns. This law shows the production function with one input factor variable while keeping the other input factors constant.
Question 5
1 / -0

As part of Economic Reforms in 1991, Financial Sector Reforms relates to :

A
Banking Sector

B
Capital Market Sector

C
Insurance Sector

D
All of the above

Solution

Financial sector reforms relates to reforms in all such sectors where finance was a major and prominent factor which included all the three sector i.e. banking, capital market, and insurance.
Question 6
1 / -0

Lowering of Import / Export Duty Rates, as part of the External Sector Reforms in 1991, relates to -

A
Exchange Rate Stabilisation

B
Rationalisation of Tariff Structure

C
Quantitative Restrictions

D
Foreign Direct Investment

Solution

As a part of globalization, the import rates and export duty rates were to be decreased so that there would be fair flow of goods between the domestic country and other countries as a result of which there will be rationalization of tariff structure.
Question 7
1 / -0

In India, Support to Exporters is available in the form of:

A
Duty and Tax Concessions

B
Export Finance

C
Export Promotion Marketing Assistance

D
All of the above

Solution

In India, the exporters get a lot of benefit as they complete in the international market with the foreign goods. There is tax concessions on many exported items, exported items get a separate marketing assistance at national level and there is export financial inclusion for many exporting firms who needs them.
Question 8
1 / -0

As a result of the New Industrial Policy, 1991 -

A
Prior approval of Central Government is required for establishing new undertakings, and expanding the present undertakings

B
An industry intending to have more than Rs 100 Crore of assets is required to obtain the permission of the Central Government

C
Prior approval of Central Government for establishing new undertakings and expanding existing undertaking is not required

D
Two or more Companies deciding to amalgamate are required to take the prior approval of the Central Government

Solution

New industrial policy include the policy of liberalization where it was specified that it is compulsory only for few major named industries to have compulsory licence under the rules and regulations of the government where as other industries were free to establish as well as expand their company without any government intervention.
Question 9
1 / -0

All of the following institutions promote/assist Export Trade. Identify the institution which does not.

A
The Trade Fair Authority

B
Indian Institute of Management

C
The Indian Institute of Foreign Trade

D
Commodity Boards

Solution

The Indian Institutes of Management are a group of 20 public, autonomous institutes of management education and research in India. They primarily offer postgraduate, doctoral and executive education programs for the students career.
Question 10
1 / -0

Which of the following were abolished as part of the External Sector Reforms in 1991?

A
Cash Compensatory Scheme

B
EXIM Scrip Scheme

C
Both (a) and (b)

D
Neither (a) nor (b)

Solution

Cash compensatory scheme was a scheme where foreign cash was allowed to be compensated on various means in the domestic territory and EXIM scrip scheme was the export and import assistance bank set up in India in 1981. These both schemes were abolished as a part of new economic reform globalisation and its fair conduct.

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Re-Attempt Weekly Quiz Competition

People As Resource Test - 14

Result

People As Resource Test - 14

Score

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Rank

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SHARING IS CARING

Question 1

Devaluation of the Rupee

Removal of restrictions on Foreign Exchange transactions

Export Support

Restrictions on Foreign Direct Investment

Solution

Question 2

Agricultural exports

Exports of services

Export of handlooms and handicrafts

Export of gems and jewellery

Solution

Question 3

Reduction in the number of items covered by import licenses

Permission for free trade of all items except a negative list of imports and exports

Increasing of import/ export duty rates

Permission for foreign direct investment

Solution

Question 4

Improvement in technology

When all factors are proportionately varied

Where the factors must be used in fixed proportions to yield the product

All of the above

Solution

Question 5

Banking Sector

Capital Market Sector

Insurance Sector

All of the above

Solution

Question 6

Exchange Rate Stabilisation

Rationalisation of Tariff Structure

Quantitative Restrictions

Foreign Direct Investment

Solution

Question 7

Duty and Tax Concessions

Export Finance

Export Promotion Marketing Assistance

All of the above

Solution

Question 8

Prior approval of Central Government is required for establishing new undertakings, and expanding the present undertakings

An industry intending to have more than Rs 100 Crore of assets is required to obtain the permission of the Central Government

Prior approval of Central Government for establishing new undertakings and expanding existing undertaking is not required

Two or more Companies deciding to amalgamate are required to take the prior approval of the Central Government

Solution

Question 9

The Trade Fair Authority

Indian Institute of Management

The Indian Institute of Foreign Trade

Commodity Boards

Solution

Question 10

Cash Compensatory Scheme

EXIM Scrip Scheme

Both (a) and (b)

Neither (a) nor (b)

Solution

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