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Economics Questions Answers
'Economic drain' theory was popularized by—
The Britishers
Dadabhai Naoroji
Vera Anstey
V.V. Bhatt
Dadabhai Naoroji
When income increases, consumption also increases—
None of the options
in a lower proportion
in a higher proportion
in the same proportion
in a lower proportion
The difference in the value of visible exports and visible imports is called?
Balance of Trade
Balance of Account
Balance Sheet of items
Balance of Payments
Balance of Trade
What was the growth rate of National Income during First Five Year Plan?
15%
16%
17%
18%
18%
In which year International Monetary Fund was set up?
1944
1945
1946
1947
1944
The Central Bank can significantly influence the savings, investments and consumer spending in the economy through which of the following policy?
Fiscal Policy
Monetary Policy
Industrial Policy
Foreign Exchange Policy
Monetary Policy
Which one of the following is not the characteristic of capitalism?
Individuals and associations behave with economic motive of maximising their profit with least sacrifice or cost
The country's major means of production are either owned by the Government or their use is controlled by the Government
Producers, consumers and employees compete among themselves, as the resources and opportunities are limited
Price, the invisible hand, plays a predominant role in the (low of the factors of production and consumption
The country's major means of production are either owned by the Government or their use is controlled by the Government
Which of the following is not the salient feature of the industrial policy developments since 1991?
The scope of the private sector has been enormously expanded
Public sector has been with drawing partially or fully from several of the enterprises by divestment
The Indian industry is increasingly exposed to foreign competition
Monopoly or dominant position for the public sector in most of the industries and control of the commanding heights of the economy by the public sector
Monopoly or dominant position for the public sector in most of the industries and control of the commanding heights of the economy by the public sector
Which of the following does not form the part of the important information to be incorporated in the Memorandum of Association as specified in the Companies Act, 2013?
The name of the company and the state in which it is situated
The objects for which the company is proposed to be incorporated
The rules regulations and bye-laws for the internal management of the company
The liability of the members of the company, whether limited or unlimited,
The rules regulations and bye-laws for the internal management of the company
Assertion (A) : The volume of imports tends to be very high when there is a conjecture of high rate of economic growth and a sharp fall in the relative price of imports and vice versa.
Reason (R) : High rate of growth, ceteris paribus, is associated with rise in imports and increase in the imports, ceteris paribus, is associated with a fall in the relative price of imports.
Both (A) and (R) are correct and (R) is the right explanation of (A)
Both (A) and (R) are correct but (R) is not the right explanation of (A)
(A) is correct but (R) is not correct
(R) is correct but (A) is not correct
Both (A) and (R) are correct and (R) is the right explanation of (A)