Economy Quiz-1 IAS Pre 2016

Hello Good Evening Friends Everyone, 

Here are the set of questions on Economy. Attempt this quiz and write your answer in comment section. We will publish the result with detailed explanation at 5 PM.

Q1. Which of the following measures is not likely to help in improving India’s balance of payment position?

a) Devaluation of the rupee

b) Encouragement of import substitution

c) Imposition of higher duty on imports

d) Imposition of higher duty on exports

Q2. “Sunrise Industries” are industries

a) which are well developed and have ample scope for further development

b) which improve export performance of the country

c) which are small scale industries

d) which have high growth potential and meet further requirements of the economy

Q3. Consider the following: 

1. Life expectancy at birth

2. Gross enrolment ratio for schools

3. GNI per capita adjusted for Purchasing Power Parity

4. Expected years of schooling for a school age child

Which of the above is/are the parameters for the measurement of Human Development Index by UNDP?

a) 1, 3 and 4 only

b) 1, 2 and 3 only

c) 1, 2 and 4 only

d) 1, 2, 3 and 4

Q4. Which of the following constitute the World Bank Group?

1. International Bank of Reconstruction and Development

2. International Finance Corporation

3. International Development Association

4. International Monetary Fund

Choose the correct answers from the code given below:

a) 1, 2 and 4 only

b) 2, 3 and 4 only

c) 1, 2 and 3 only

d) 1, 2, 3 and 4

Q5. Which of the following sectors do not fall under the ambit of the stressed sector classification of RBI?

a) Iron and Steel

b) Coal

c) Textiles

d) Aviation

Q6. Consider the following statements regarding Special Safeguard Mechanism (SSM)

1. There are provisions through which a WTO member can temporarily impose higher than bound tariffs on the import of any commodity if there is a sudden surge of that commodity in the country

2. It is a trade defense mechanism which can essentially counter the volatility of international commodity prices

3. Both, developed as well as developing countries can impose SSM

Which of the statements given above is/are true?

a) 1 and 2 only

b) 1 and 3 only

c) 2 only

d) 2 and 3 only

Q7. Which one of the following statements appropriately describes the “fiscal stimulus”?

a) It is a massive investment by the Government in manufacturing sector to ensure the supply of goods to meet the demand surge caused by rapid economic growth

b) It is an intense affirmative action of the Government to boost economic activity in the country

c) It is Government’s intensive action on financial institutions to ensure disbursement of loans to agriculture and allied sectors to promote greater food production and contain food inflation

d) It is an extreme affirmative action by the Government to pursue its policy of financial inclusion