The 'Relative Deprivation' approach for measuring poverty has been adopted by: developing countries .The largest share of India’s national income originates in the Tertiary sector. Tertiary sector.The difference between monetary policy (MP) and fiscal policy (FP) is that: FP tries to control aggregate demand through budgetary means, MP through the quantity of money and the rate of interestThe Duburi Thermal Power Plant Project approved by the Cabinet Committee on Foreign Investment will be set up in which of the following States? OrissaWhich of the following is not likely to cause an increase in the population? a rise in the ratio of legitimate to illegitimate birthsWhich of the following bodies finalizes the Five Year Plan proposals? National Development CouncilWhich of the following is not a part of national income? Interest on national debt.The goals of monetary policy do not include Maximum tax revenueThe principal source of revenue to the State Government in India is: Sales TaxVAT scheme is expected to avoid repeated payment of duty from the raw materials stage to the final product and thus reduce the burden of duty on the final productIn which of the following industries in India are the maximum number of workers employed? TextilesThe effort of a fall in investment on income is normall greater than the fall in investmentThe National Debt consists of: the total financial liabilities of the governmentTo find the value of closing stock at the end of a period we: do this by stocktakingWhat is the targeted additional power generation capacity during the Ninth Plan period in order to keep the shortage within manageable limits? 10, 000 MWPurchase of a tractor by a farmer is: fixed investmentThe Planning Commission is: an Advisory body A consumer’s equilibrium choice or position is one at which his satisfaction is maximumIn order to be scheduled to the Reserve Bank of India, a bank should have capital and reserve of not less than: 5 lakhsThe supply schedule for a commodity is usually assumed to be directly open to influence by all the following, except the quantity demandedInflation is caused by: increase in money supply and decrease in productionIn India, principal source of State revenue is: taxes and loansCarriage inwards is charged to the trading account because: it is an expense connected with buying goodsWhat do open market operations of the RBI mean? Trading in securitiesThe term 'devaluation' means: Reducing the value of a currency in terms of another currencyFor which one of the following items, is Triupur well-known as a huge exporter to many parts of the world? Knitted garmentsPrivate Banks in India account for what share of the total banking sector? 8%Out of following, which one is the best example of progressive tax in India? Income-taxWhich Committee's recommendations are being followed for estimating Poverty Line in India? Lakdawala Committee‘Food for Work Programme’ was introduced during which one of the following Five-Year Plans? FirstThe national debt: differs greatly from private debt because 'we owe it to ourselves'Disguised unemployment is the prominent feature of primary sectorThe statement "India is a rich country inhabited by poor people" means: country has rich, vast resources but they are not properly exploitedWhat is Laissez-faire? Non-interference of Government in economic affairsThe movement of a consumer’s budget line, on an indifference map, to a parallel position to the right indicates that the consumer’s income has increasedThe consumer’s surplus can be defined as difference between actual price and potential priceIn a capitalist economy, the pattern of output is determined by the demand and supply powers'MODVAT' stands for: Ad Valorem tax on outputThe sum of the marginal propensity to consume and the marginal propensity to save must be equal to oneA demand curve for a commodity is usually drawn on the assumption that factors influencing demand other than price are held constantDeflation is Contraction in volume of money or credit that results in a decline of price levelHawala market is related to Illegal Foreign Exchange.

The Sunrise Industry is one which is non-conventional and expected to grow rapidly.A public enterprise is distinguished from a private enterprise by whether it is owned by the governmentAs output increases, average fixed cost falls.Which of the following could explain why the supply curve for a commodity slopes downwards? Costs fall as production increasesA consumer with a given income will obtain maximum utility when the marginal utility of each commodity is in he same ratio to its priceWhich one of the following contributes most to the National Income in India? Agricultural SectorThe budget is presented to the Parliament on: the last day of FebruaryThe total utility which a consumer derives from n units of a commodity minus the total utility he drives from ‘n-1’ units is consumer’s surplus from ‘n-1’ unitsWhich of the following is not a function of Reserve Bank of India? It is a foreign exchange detectorLargest revenue in India is obtained from: Excise dutiesWhen the price of a substitute of a commodity X falls, the demand for X falls.‘MAT’ is a new tax introduced in the 1996-97 Budget. It relates to Minimum corporate tax for zero tax companies.The agency estimating the national income of India is Central Statistical OrganizationNational Income of India is compiled by Central Statistical OrganizationIn public budgets, zero-based budgeting was first introduced in USAIf the elasticity of demand for a good is equal to (-)2 then a 1 percent price rise will lower the quantity demanded by 2 percentPrice in the market is fixed by: The demand and supply ruling in the market at a particular timeIn India, the first bank of limited liability managed by Indians and founded in 1881 was: Oudh Commercial BankDumping' in the context of international trade refers to: exporting goods at prices below the actual cost of productionThe standard of living in a country is represented by its: per capita incomeThe main argument advanced in favour of small scale and cottage industries in India is that: they generate a large volume of employmentWhich one of the following is the most important item of non-plan expenditure? Interest payment An indifference curve for an individual consumer represents graphically Combinations of two goods which have the same marginal utilityWhich of the following businesses would probably find it easiest to borrow money from complete strangers? A public joint stock companyGross profit is: excess of sales over cost of goods soldA public enterprise is distinguished from a private enterprise by whether it: is owned by the governmentThe ‘gilt-edged’ market deals in: bullionWhen was the decimal system of currency introduced in India? 1957The elasticity of a straight-line demand curve may have varying values along its lengthIt will pay a monopolist to cut the price of his product if marginal revenue is greater than marginal costIndia's oldest iron and steel plant is: TISCO at JamshedpurGilt-edged market means: Market of Government securitiesWhich one of the following states produces about 50 per cent of the total silk textiles in India? KarnatakaTurnover represents: the total volume of sales during the yearThe most serious economic problems of India are: Poverty and unemploymentThe period of high inflation and low economic growth is termed as: stagflationInflation implies rise in money supply.

Which of the following is not a financial institution? FICCIThe descending order in which current assets should be shown in the balance sheet are: stock, debtors, bank, cashPerfect market means there are many sellers and many buyers.The ‘Year of Great divide’ refers to: rapid growth rate in population after 1921Which one of the following situations makes a firm most efficient? Lowest average costsThe demand curve shows that price and quantity demanded are inversely proportional and also inversely related.A ‘hard currency’ is the one which is readily accepted in international transactions,Which is the best definition of a balance sheet? An account proving the books balanceHuman Development Index comprises literacy rates, life expectancy at birth and: gross domestic product per head at real purchasing powerWho is the originator of Green Revolution in India? M.S. SwaminathanA firm will shut down rather than carry on producing in the short run if total revenue is less than total variable costNationalization or public control of an industry is often supported by economists because it is a ‘natural monopoly’During which Plan did prices show a decline? First Which one of the following is the task of the Planning Commission? Preparation of the planDevelopment means economic growth plus social changeThe highest savings in India are recorded by the Household Sector.A shift to the left of a demand curve, could be due to a rise in the price of a complementWhich one of the following is the largest mutual fund organization in India? Unit Trust of India 'Devaluation' means: lowering of the value of one currency in comparison of some foreign currencyThe ‘cost of living index’ is indicative of the prevailing level of prices as compared to a base year taken as 100.A 45° supply curve represents unit elastic supply. What is NABARD's primary role? To provide term loans to state co-operative banks, To assist state governments for share capital contribution and To act as re-finance institutionThe slope of an indifference curve represents the marginal rate of substitution between two goodsAn upward and leftward movement of an upward-sloping supply curve for a commodity could be caused by all of the following, expect a sift of tastes in favour of the product.The two -gaps theory refers to savings gap and wage-goods gapWhich of the following is included in the National Income Account? Services of night-watchman.Which of the following is not shared by the Centre and the States? Sales Tax Who is called the 'Father of Economics’? Adam SmithWhich part of separated UTI is under SEBI's regulation? UTI-IILegal tender is the name used to describe: money which cannot legally be refused in settlement of a debtWhich of the following constitute the World Bank? All Three1. International Bank of Reconstruction and Development2. International Finance Corporation3. International Development AssociationWhich of the following do not enter into marginal costs?fixed costsThe largest area covered by HYV (high yielding varieties) seeds is under: wheatWhich of the following prints currency notes of the denomination of Rs.100? The Bank Note Press, Dewas

The national income of a nation is the government’s annual revenue., sum total of factor incomes and surplus of public sector undertakings.Balanced economic growth can be achieved only if all the interdependent sectors grow in harmony.Which of the following is the Banker of the Banks? RBI Who among the following is most benefited from inflation? DebtorsThe oldest stock exchange of India is: Bombay Stock ExchangeThe inflation experienced in the country at present is: cost-push inflationThe number of Banks nationalized since 1969 is: 20In a joint-stock company, the ordinary shareholders do not have the right to appoint the sales managerSelect from the following list the costs which are most likely to vary with the output of a car manufacturer during a period of a year. The wages of the workers in the paint shopBank rate is the rate at which: the Reserve Bank of India gives credit to commercial banksEquilibrium exists in the market for a commodity when at the market price, the amount sellers wish to sell is the same as the quantity buyers wish to buyIn which of the following industries is the maximum number of women employed in India? Tea If income is below equilibrium income will tend to riseWhich of the following combinations is correct? RRB-Agricultural finance‘Quota’ is limit on quantity of imports.The aim of a rational consumer in allocating his income is to maximize his total utilityWhich bank gives long term loan to farmers? Land Development BankThe credit entry for gross profit is on the credit side of: profit and loss accountIndian economy is most appropriately described as a: mixed economyPrice index numbers are designed to measure: changes in the cost or value of productionDevaluation of currency helps to promote: ExportsWhat is the main reason for occurrence of structural unemployment? Inflation"World Development Report" is an annual publication of International Bank of Reconstruction and DevelopmentMovement along the same demand curve is known as Contraction of supplyNational Income is the Net National Product at market priceOctroi is levied and collected by: local bodies Per capita net availability of pulses has shown a tendency of: First increase then decreaseNational Income is the same as: Net national product at factor costOpen Sky Policy means involving private agencies in air transport.A 45° supply curve represents: unit elastic supplyFrom the balance sheet of a company, it is possible to Judge the extent of profitability of the companyReserve Bank of India does not provide finance to agricultureCommercial banking system in India is mixed bankingWhich of the following are the main sources of State finances?I. General Sales TaxIV. Land RevenuesA tax which is paid by the person on whom the tax is incident is called a: direct tax Functional unemployment occurs when: people frequently change their jobWho controls the day-to-day action in a joint-stock company? The salaried managersWhat was the objective of Command Area Development Programme? To ensure better utilisation of irrigation potentialWhich of the following Mahatma Gandhi series of currency notes issued by the RBI has a drawing of the 'Parliament House' depicted on it? Rs.50

The largest share in our imports is from: European CommunityBank rate means the official rate of interest charged by the central bank of the countryThe term ‘Hindu rate of growth’ refers to the 3.7% per annum growth rate achieved by the Indian economy over the first six Five-Year Plans. The term was coined by Raj KrishnaInflation can be contained by: surplus budget, increase in taxation and reduction in public expenditureWhich of the following is the most likely reason why total income tends to fluctuate? Many savings and investment decisions are taken by different peopleWhich State stands first in the length of roads in the country? Maharashtra Which is the least liquid of the following assets of a commercial bank? Treasury billsA serious effort to tackle the problem of poverty began with: fourth plan The difference between Gross Domestic Product and Gross National Product is equal to: net property income from abroadA closed economy is the one which: engages in no foreign tradeWhich of the following is not a rural development programme? CRYIf two goods are complements, it means that a rise in the price of one commodity will induce a fall in demand of the other commodityWhen was the Family Planning Programme officially started in India? 1952Major food-crop of India in terms of production is: riceWhich of the following is not one of the three central problems of an economy? When to produceIn the Keynes model above, which is independent? InvestmentWhat is the percentage of the total workforce employed in Agriculture sector in India? about 64%Demand means willingness and ability of an individual to buy goods and services at a given price and timeWhich of the following is a selective Credit Control method? RBI directivesPersons below the poverty line in India are classified as such based on whether: they are entitled to a minimum prescribed food basket.The most important source of capital formation in India has been Household savings.In recent years the Indian economy has been characterized as a developing economyOther things being equal a decrease in demand can be caused by a rise in the price of the commodityIndia has: Mixed economy Fixed Cost is known as Overhead Cost.The First paper mill of the country was started in 1832. Where was it located? Sehramporein West BengalWhich Five-Year Plan commenced from 1st April, 1997? Ninth Five-Year PlanKudremukh is situated in: KarnatakaTo achieve economic self-reliance was the main objective of which of the following plans Fourth PlanWhich one of the following Five-Year Plans of India had growth with social justice and equity for achieving its goals as the main focus? VIWhich of the following are reasons for the Small-Scale Industry in India assuming importance?I. It is capable of absorbing the surplus work-force in the rural area.II. It can make use of the agricultural produce.NNP (Net National Product) or National Income is the money value of final goods and services produced annually in the economyWhich of the following commodity groups is/are considered for working out average index?(i) Fuel groups(ii) Primary articles(iii) Manufactured products MODVAT is a/an direct tax.Total revenue of a firm is maximum when marginal revenue becomes zero

The largest contribution in India's National Income is from: tertiary sector The law of demand states that when price falls, demand increasesWhich of the following taxes is not shared by the Central Government with the States? Customs dutyWhich of the following groups suffer the most from inflation? CreditorsIn which of the following cities is the headquarters of the Unit Trust of India located? Mumbai Economic survey is published by: Ministry of Finance