Wednesday, 23 July 2014

Economy Prelims General Studies Mock Test

1.Ms. Gita Patel a retired Government official wants to invest her Gratuity amount in Intra Day Trade(trade within a day) of Share Market. Which of the following Ms. Gits Patel will be interested in
            a. Primary Trend                                              b. Secondary Trend
            c. Secular Trend                                               d. Call Money Market Rate Trend


2.If Mr.Ranjith Singh buys a second hand Maruti car in the year 2011, manufactured in the year 2008, from  ‘Maruti value’ an used car agency. Which of the following regarding GDP is true
            a. Car value will be reflected in GDP of 2011
            b. Service charge(for used car sale) charged by Maruti value will be reflected in GDP of 2011
            c. Both values will not be reflected in GDP of 2011
            d. Both values will be reflected in GDP of 2011

3. India curbs export of Onion from time to time in order to control Inflation by banning exports. From the above statement we can infer
            a. Indian currency is not fully convertible in Current Account
            b. India currency is not fully convertible in Capital Account
            c. Indian currency is not fully convertible in Current Account and Capital Account
            d. None of the above

4. Who of the following is not affected financially (neither gain nor loss) in a Commercial Bill transaction
            a. Buyer                                                           b. Seller
            c. Financial Intermediary (Bank)                     d. All are affected

5. If a bank requires short term money to finance its Liquidity Crisis or Big Loan Portfolios it may resort to
            i. Commercial Paper
            ii. Inter Bank participation certificate
                        a. i only                                                           b. ii only
                        c. Both i and ii                                     d. Neither i nor ii

 6. In a Call money Market if money is lent for period between 2 days and 14 days, it is termed as
            a. Term Money                                                            b. Call Money
            c. Call Money Market                                      d. Notice Money

7. If a country A follows Fixed Exchange Rate system and if there is sudden Flight of capital of currency of country B, then which of the following usually happens
            a. B would devalue its currency
            b. B would revalue its currency

            c. A would devalue its currency
                                                                                               
8. Which of the following statements with regard to 2014-15 budget of India is/are true
            i. A sum of ` 7060 crore is provided in the current fiscal for the project of developing
“one hundred Smart Cities’
            ii. “Neeranchal” to give impetus to watershed development in the country
                        a. i only                                                           b. ii only
                        c. Both i and ii                                     d. Neither i nor ii

9. Fresh evaluation of every item of expenditure at the time of demand for grants is called as
            a. Line item budget                                          b. Zero-based budget
            c. Performance budget                                     d. Performance planning budget system

10. Copyrights and patents are related to
            a. TRIPS                      b. TRIMS         c. GATS                       d. TPRM

11. Subsidy for livestock will be reflected in WTO under
            a. Amber box                           b. Blue box
            c. Green box                            d. Red box

12. When there is a Recession in Business cycle
            i. RBI may purchase government security through Open Market Operation
            ii. RBI may sell government security through Open Market Operation
                        a. i only                                               b. ii only
                        c. Both i and ii                         d. Neither i nor ii

13.  Which of the following statements with regard to 2014-15 budget of India is/are true
i.To print currency notes with Braille like signs for visibly challenged persons
ii. To provide institutional finance to all BPL farmers, it is proposed to provide finance to
5 lakh joint farming groups of “Bhoomi Heen Kisan” through NABARD
                        a. i only                                               b. ii only
                        c. Both i and ii                         d. Neither i nor ii

14. Which of the following statements related to Second Green Revolution is true in India
            i. Organic farming and SGR are synonymous
            ii. Warehousing has been left out in SGR
                        a. i only                                                           b. ii only
                        c. Both i and ii                                     d. Neither i nor ii

15. The basic objective of planning in India is
a.       Increasing employment opportunities
b.      Expansion of key industries
c.       Increase in agricultural output
d.      All of the above

16. Which of the following was given the highest MSP in the year 2014-15
            a. Wheat                                              b. Paddy Grade A
            c. Maize                                               d. Barley

17. Land reform programmes in India include which of the following?
1.      Elimination of intermediaries
2.      Tenancy Reform
3.      Determination of ceiling of holding per family
4.      Consolidation of holdings
Select the correct answer using the codes given below
a.       1 and 3
b.      3 and 4
c.       2 and 4
d.      All of these

18. Mr. Subramaniyan a retired Government official wants to invest his Gratuity amount in Share Market. He expects better returns but less risk. If you are his investment advisor, in which of the following instrument will you advise him to invest
            a. Equity Share                                                b. Preference Share
            c. Debenture                                        d. Fixed Deposit in a Bank

19. NIFTY is associated with
            a. BSE                                                  b. NSE
            c. LIBOR                                             d. SENSEX

20. Which of the following statement related to Green Revolution in India is/are true
            i. HYV seeds of Wheat preceded HYV seeds of Rice
            ii. It was dependent on Surface Water rather than Ground Water for Irrigation
                        a. i only                                                           b. ii only
                        c. Both i and ii                                     d. Neither i nor ii  
21.Mixed Economy was suggested by
            i. Prof. Oscar Lange                                         ii. John Keynes

                        a. i only                                               b. ii only
                        c. Both i and ii                         d. Neither i nor ii

22. If GDP deflator of an economy is lesser than 1, it implies
            a. Inflation in economy                                               b. Deflation in economy
            c. Reflation in economy                                              d. Data insufficient

23. Kerb Dealing implies
            a. There is a difference between buying and selling price of share
            b. Stock prices are over subscribed
            c. The stock prices are undersubscribed
            d. Transaction of stocks takes place outside the stock exchange

24. Fiscal deficit usually leads to
            i. Costlier imports                                            ii. Crowding out effect

                        a. i only                                                           b. ii only
                        c. Both i and ii                                     d. Neither i nor ii
25.The concept of Guillotine
            i. Increases the control of legislature over executive
            ii. It reduces the time period of Vote on account
                        a. i only                                                                       b. ii only
                        c. Both i and ii                                                 d. Neither i nor ii 

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