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1. Karl Marx explained the process of class struggle with the help of which one of the following theories?

a) Empirical liberalism

b) Existentialism

c) Darwin’s theory of evolution

d) Dialectical materialism

Ans: D

2. In terms of economy, the visit by foreign nationals to witness the XIX commonwealth games in India amounted to:

a) Export

b) Import

c) Production

d) Consumption

Ans: A

3. Fiscal Policy in India is formulated by.

a) The Reserve Bank of India

b) The planning commission

c) The finance ministry

d) The securities and exchange board of India.

Ans: C

4. Which of the following occupations are included under the secondary sector as per the national income accounts?

1) Manufacturing

2) Construction

3) Gas and water supply

4) Mining and quarrying

Select the correct answer using the codes given below.

a) 1,2,3and 4

b) 1,2 and 4 only

c) 1,2 and 3 only

d) 3 and 4 only

Ans: C

5. The Reserve Bank of India regulates the commercial banks in matters of:

1) Liquidity of assets

2) Branch expansion

3) Merger of banks

4) Winding of banks

Select the correct answer using the codes given below.

a) 1,2, 3 and 4

b) 2, 3 and 4 only

c) 1, 2 and 3 only

d) 1 and 4 only

Ans: A

6. An increase in the Bank Rate generally indicates that the.

a) The market rate of interest is likely to fail

b) Central Bank is no longer making loans to commercial banks.

c) Central Bank is following an easy money policy

d) Central Bank is following a tight money policy.

Ans: D

7. The concept of “Vicious Circle of poverty” is related to.

a) Karl Marx

b) Nurkse

c) Adam smith

d) None of these

Ans: B