UPSC NCRET ECONOMY NOTES: TOPIC WISE SOLVED MCQ’s

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1. The national income of a country for a given period is equal to the
a) Sum of total consumption and investment expenditure
b) Sum of personal income of all individuals
c) The money value of final goods and services produced
d) The total value of goods and services produced by the nationals
Ans:     D

2.  Which of the below grant/ grants direct credit assistance to rural households?
1. Regional Rural Banks
2. National Bank for Agriculture and Rural Development
3. Land Development Banks
Which of the above grants/ grants direct credit assistance to rural households?
a) 1 and 3 only            b) 2 only          c) 1 and 2 only            d) 1,2 and 3 only
Ans:     A

3. Which of the below given constitute Capital Account?
1. Foreign Loans
2. Foreign Direct Investment
3. Private Remittances
4. Portfolio investment
a) 1,2 and 4                b) 1,2 and 3                 c) 2,3 and 4                 d) 1,3 and 4
Ans:     A

4. Which of the below-given statements above is/are correct?
1. Inflation benefits the bondholders.
2. Inflation benefits the debtors.
Which of the above-given statements above is/are correct?
a) 1 only          b) 2 only          c) Both 1 and 2           d) Neither 1 nor 2
Ans:     B

5. Disguised unemployment generally refers to
a) Alternative employment is not available
b) The marginal productivity of labor is zero
c) The productivity of workers is low
d) A large number of people remain unemployed
Ans:     B

6. The correct sequence of the below-given assets in the decreasing order of liquidity is
1. Demand deposits with the banks
2. Time deposits with the banks
3. Savings deposits with the banks
4. Currency
a) 1-4-3-2                    b) 4-3-2-1                    c) 2-3-1-4                    d) 4-1-3-2
Ans:     D

7. ‘Open Market Operations’ generally refers to
a) Lending by commercial banks to industry and trade
b) Purchase and sale of government securities by the RBI
c) Borrowing by scheduled banks from the RBI
d) None of the above
Ans:     B