Economics GK Practice Question and Answer

Q:

To which of the following sectors of the economy do Basel III norms belong?

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  • 1
    Banking
    Correct
    Wrong
  • 2
    Capital market
    Correct
    Wrong
  • 3
    Automobile
    Correct
    Wrong
  • 4
    Aviation
    Correct
    Wrong
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Answer : 1. "Banking"
Explanation :

1. The Basel norms are international banking rules to strengthen the international banking system.

2. It is in the form of an agreement by the Basel Committee on Banking Supervision which mainly focuses on the risks to banks and the financial system.

Q:

Which of the following is considered as the main determinant of real wages?

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  • 1
    purchasing power of money
    Correct
    Wrong
  • 2
    Nature of work
    Correct
    Wrong
  • 3
    additional income
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 1. "purchasing power of money"

Q:

Government takes way and means loan?

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  • 1
    IDBI
    Correct
    Wrong
  • 2
    RBI
    Correct
    Wrong
  • 3
    SBI
    Correct
    Wrong
  • 4
    ICICI
    Correct
    Wrong
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Answer : 2. "RBI"

Q:

Which is the financial year from which disinvestment in public enterprises started?

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  • 1
    1970-1971
    Correct
    Wrong
  • 2
    1991-1992
    Correct
    Wrong
  • 3
    1994-1995
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 2. "1991-1992"

Q:

In India, according to the Insolvency and Bankruptcy Code, 2016, the process of insolvency resolution for companies should be completed in how many days?

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  • 1
    180
    Correct
    Wrong
  • 2
    150
    Correct
    Wrong
  • 3
    170
    Correct
    Wrong
  • 4
    120
    Correct
    Wrong
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Answer : 1. "180"
Explanation :

1. According to the Insolvency and Disability Code, 2016 in India, the insolvency resolution process of companies must be completed in 180 days.

2. The IBC 2016 also attempted to deal with the difficulties in the existing law as well as other disagreements that may develop between debtors and creditors due to inadequacies in the information system.

Q:

In which industry sector has India had more success?

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  • 1
    Computer Hardware
    Correct
    Wrong
  • 2
    Computer Software
    Correct
    Wrong
  • 3
    both
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Computer Software"

Q:

In which of the following years was the Reserve Bank of India nationalised?

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  • 1
    1935
    Correct
    Wrong
  • 2
    1949
    Correct
    Wrong
  • 3
    1927
    Correct
    Wrong
  • 4
    1965
    Correct
    Wrong
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Answer : 2. "1949"

Q:

Assume that the exchange rate between the US Dollar and the Indian Rupee is $1 = ₹55. Now if this exchange rate increases to $1 = ₹60, then in this situation the Indian Rupee has depreciated against the US Dollar.

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  • 1
    depreciated
    Correct
    Wrong
  • 2
    appreciated
    Correct
    Wrong
  • 3
    appreciated
    Correct
    Wrong
  • 4
    overvalued
    Correct
    Wrong
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Answer : 1. "depreciated"
Explanation :

मान लीजिए कि अमेरिकी डॉलर और भारतीय रुपये के बीच विनिमय दर $1= ₹55 है। अब यदि यह विनिमय दर बढ़कर $1 = ₹60 हो जाती है, तो इस स्थिति में अमेरिकी डॉलर की तुलना में भारतीय रुपये का _______ हुआ है।

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