Sunday, May 5, 2019

WBCS Polity and Constitution MCQs Prelims and Mains

WBCS Main 2018 Indian Economy P21

201. Bank rate is the rate at which
(A) a bank lends to the public.
(B) RBI lends to the public.
(C) The government of India lends money to other countries.
(D) RBI lends to commercial banks.
Correct Answer: [D] RBI lends to commercial banks..

202. The main argument in favor of small-scale and cottage industries in India is that
(A) cost of production is low.
(B) it requires a small capital investment.
(C) they advance the goal of equitable distribution of wealth.
(D) they generate a large volume of employment
Correct Answer: [D] they generate a large volume of employment.

203. Which of the following statements regarding Regional Rural Banks (RRB) in India is correct?
i) The basic income setting up by the RRBs is to develop rural economy.
ii) It covers a specific region as it covers only one or a few districts.
iii) RRBs are sponsored by Commercial Banks. Select the answer.
(A) (i) only
(B) (i) and (ii) only
(C) (ii) and (iii) only
(D) (i), (ii), (iii)
Correct Answer: [B] (i) and (ii) only.

204. The liabilities of commercial bank are
(i) time deposits
(ii) security holdings
(iii) demand deposits
(iv) advances from central bank
(A) (i), (ii), (iii)
(B) (i), (iii), (iv)
(C) (ii) and (iii)
(D) (iii) and (i)
Correct Answer: [B] (i), (iii), (iv).

205. What is the main function of EXIM bank?
(A) to help RBI in the regulation of foreign exchange.
(B) to prevent the unlicensed transaction.
(C) to promote exports and curtail imports.
(D) to conserve foreign exchange
Correct Answer: [C] to promote exports and curtail imports..

206. All taxes come under
(A) Revenue receipts
(B) Capital receipts
(C) Public debt
(D) Both A and B
Correct Answer: [C] Public debt.

207. People below the poverty line in India are classified as such based on whether
(A) they are entitled to a minimum prescribed food basket.
(B) they get work for a minimum number of days in a year.
(C) they belong to minority groups.
(D) their daily wages follows below prescribed minimum wages
Correct Answer: [A] they are entitled to a minimum prescribed food basket..

208. The basic regulatory authority for mutual funds and stock exchange lies with
(A) Government of India
(B) Reserve Bank of India
(C) Securities and Exchange Board of India
(D) Stock Exchange
Correct Answer: [C] Securities and Exchange Board of India.

209. National Income of India is compiled by
(A) Finance Commission
(B) Indian Statistical Institute
(C) National Development Council
(D) Central Statistical Organisation
Correct Answer: [D] Central Statistical Organisation.

210. In India GDP is higher than GNP because
(A) import is higher than exports.
(B) capital inflow is higher than capital outflow.
(C) net factor income is negative.
(D) government expenditure is more than income
Correct Answer: [A] import is higher than exports..


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