Economics GK Practice Question and Answer

Q:

What is the relationship between the value of money and the price level in an economy?

883 0

  • 1
    stable
    Correct
    Wrong
  • 2
    inverse
    Correct
    Wrong
  • 3
    Anulom
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "inverse"

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?

881 0

  • 1
    180
    Correct
    Wrong
  • 2
    150
    Correct
    Wrong
  • 3
    170
    Correct
    Wrong
  • 4
    120
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

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:

Which of the following is not a function of currency?

868 0

  • 1
    Measurement of value
    Correct
    Wrong
  • 2
    accumulation of value
    Correct
    Wrong
  • 3
    transfer of value
    Correct
    Wrong
  • 4
    stabilization of price
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 4. "stabilization of price"

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.

857 0

  • 1
    depreciated
    Correct
    Wrong
  • 2
    appreciated
    Correct
    Wrong
  • 3
    appreciated
    Correct
    Wrong
  • 4
    overvalued
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

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।

Q:

As per the recommendations of the National Statistical Commission, the Base Year of the GDP Series in India was revised from 2004-05 to ______ with effect from January 2015.

825 0

  • 1
    2011-12
    Correct
    Wrong
  • 2
    2013-14
    Correct
    Wrong
  • 3
    2005-06
    Correct
    Wrong
  • 4
    2009-10
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 1. "2011-12"
Explanation :

1. From January 2015, as per the recommendations of the National Statistical Commission, the GDP in India The base year of the (GDP) series was revised from 2004-05 to 2011-12.

Q:

The intervention of the government whether to expand demand or reduce it constitutes the ___________.

821 0

  • 1
    speculative function
    Correct
    Wrong
  • 2
    redistribution function
    Correct
    Wrong
  • 3
    stabilisation function
    Correct
    Wrong
  • 4
    transaction function
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 3. "stabilisation function"
Explanation :

1. Government intervention, whether to expand demand or to reduce it, is called stabilization function.

Q:

What is the total stock of money in circulation among the public at a particular point of time called? 

809 0

  • 1
    Money order
    Correct
    Wrong
  • 2
    Money supply
    Correct
    Wrong
  • 3
    Short money
    Correct
    Wrong
  • 4
    Money laundering
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "Money supply "

Q:

Which of the following is called the ‘father of white revolution’ in India? 

803 0

  • 1
    Hargovind Khurana
    Correct
    Wrong
  • 2
    V. Kurien
    Correct
    Wrong
  • 3
    M.S. Swaminathan
    Correct
    Wrong
  • 4
    P.K. Sethi
    Correct
    Wrong
  • Show AnswerHide Answer
  • Workspace

Answer : 2. "V. Kurien"

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully

      Report Error

    Please Enter Message
    Error Reported Successfully