MCQs on Economics -13

1. Members of the World Trade Organization are required to
(a) Eliminate all tariffs.
(b) Allocate quotas on a first come first basis.
(c) Prevent their firms from “dumping”.
(d) Enforce patent rights for patent holders from other countries.

2. Which of the following organization makes ‘Doing Business Report’ every year?
(a) IMF
(b) WTO
(d) World Bank

3. CENVAT is related to-
(a) Sales Tax
(b) Excise Duty
(c) Customs Duty
(d) Octroi tax

4. Consider the following statements:
1. With increase in the interest rates in the economy, bond prices tend to increase.
2. With higher prices of the bonds, the bond yield tends to rise.
Which of the following statements given above is/are correct?
(a) 1 only
(b) 2only
(c) Both 1 and 2
(d) Neither 1 nor 2

5. Which sectors are included in calculation of Index of Industrial Production (IIP):
i. Manufacturing
ii. Mining
iii. Electricity
iv. Quarrying
v. Agriculture
(a) i, ii, iii (b) i, ii, iii, iv
(c) i, ii, iv, v (d) All the above

6. Forward Markets Commissions is a financial regulator of-
(a) Micro Finance
(b) Mutual Funds
(c) Non-life Insurance
(d) Commodity Future Market

7. Mega Food Parks Scheme was initiated by the Government of India with the objective of-
(a) To ensure better prices of products to farmers.
(b) To increase productivity of agriculture crops.
(c) To control food prices.
(d) To reduce the wastage of food items.
(a) a, c, d are true
(b) b, c, d are true
(c) All are false
(d) All are true

8. Consider the following statements
A. Infant mortality rate is calculated by taking 1000 as its base
B. Maternal mortality rate is calculated by taking 1 lakh as its base
(a) All are true
(b) All are false
(c) Only A is true
(d) Only B is true

9. Which of the following are true about Modified National Agricultural Insurance Scheme (MNAIS):
i. NAIS used to subsidize premium, MNAIS dropped this clause.
ii. The claim liability on insurance company.
(a) i only (b) ii only
(c) Both i and ii
(d) None of them

10. Recently WTO adopted the first worldwide trade reform in its history. These reforms are related to?
(a) Subsidies and Fair Trade Practices
(b) Customs checks and border procedures
(c) Tariff and Non-tariff Barriers
(d) None of them

11. Recently RBI has introduced the concept of ‘niche banking’ in India. Which among the following is most correct statement about this?
A. It for ultra high net worth banking individuals.
B. It is related to opening branches in remote villages.
C. It involves mobile firms and supermarket chains.
D. It is not under RBI supervision.
(a) All are true
(b) All are false
(c) b and c are true
(d) a and c are true

12. Which of the following true regarding Trade Receivables Discounting System (TReDS)?
i. The aim of TReDS is to set up and operate institutional mechanism to facilitate financing of trade receivables of MSMEs.
ii. Faster monetization of receivables.
iii. It builds safeguards against the risk of double financing, diversion of working capital funds and dilution of control over security.
(a) All of the above
(b) i and ii
(c) ii and iii
(d) None of them

13. Which among the following will be the headquarters of proposed Asian Infrastructure Investment Bank and BRICS New Development Bank respectively?
(a) Shanghai and Beijing
(b) Macau and Shanghai
(c) Beijing and New Delhi
(d) Beijing and Shanghai

14. Which of the following states is/are have 100 percent bank accounts in every household?
i) Gujarat
ii) Kerala
iii) Madhya Pradesh
iv) Goa
Choose the correct answer from the codes given below
(a) Only i, ii & iv
(b) Only ii & iv
(c) Only ii, iii & iv
(d) i, ii, iii & iv

15. The Union government has recently constituted a 10-member committee to review and revitalise public private partnership (PPP) mode of infrastructure development. In this regard identify the Correct Statement(s)
1. The committee will be chaired by former finance secretary Vijay Kelkar
2. It is expected to suggest optimal risk sharing mechanism in PPP projects
3. Risk rebalancing is a major issue involved in PPP projects.
(a) 1 and 2
(b) 2 and 3
(c) 3 only
(d) All the above



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