INDIAN ECONOMY TEST - 1-Indian Economy-Quiz

Civil Services Exams-INDIAN ECONOMY TEST - 1

Q 1.
Consider the following statements about BRICS and choose the correct ones using the codes given below.

1. The first BRIC summit was held at Yekaterinburg

2. India is hosting the 13^th BRICS summit.

a.)
1 and 2 correct
b.)
Only1 is correct
c.)
Both are incorrect
d.)
Only 2 is correct

Q 2.
Consider the following matches of experts and their respective areas.

1. UK Sinha – Group Insolvency

2. Akhilesh Ranjan – Foreign Direct Investment

3. Bimal Jalan – Economic Capital Framework

4. Uday Kotak – Corporate Governance

Which of these matches are correct?

a.)
1, 2, 3 and 4
b.)
2, 3 and 4
c.)
3 and 4
d.)
1, 3 and 4

Q 3.
As on January 1, 2021, there are 164 members in the WTO. The latest country to join the WTO was:

a.)
Seychelles
b.)
Tajikistan
c.)
Afghanistan
d.)
Laos

Q 4.
The RBI makes an intervention in the foreign exchange market by purchasing dollars on a particular day. Which of the following can be an outcome of such an intervention? Choose the correct answer using the codes given below.

Curtailing excessive speculation.

Maintenance of competitiveness of the currency

Accretion to foreign exchange reserve

Codes:

a.)
Only 1 is correct
b.)
1, 2 and 3
c.)
2 and 3
d.)
Only 2 is correct

Q 5.
The Rupee’s exchange rate with US Dollar is moving from Rs 66 to Rs 55. Which of the following outcomes are correct related to this exchange rate movement? Choose the correct answer using the codes given below.

1. Imports into India are going to decrease

2. Domestic commodities have become costlier in the international market

3. Hedging improves the condition of exporters

4. Foreign commodities become cheaper in the Indian market.

Codes:

a.)
1, 2, 3 and 4
b.)
1, 2 and 3
c.)
1, 2 and 4
d.)
2, 3 and 4

Q 6.
The first Geographical Indications registered in India was:

a.)
Aranmula Kannady
b.)
Chandery Fabric
c.)
Tirupati Laddu
d.)
Darjeeling Tea

Q 7.
The IMF is undergoing significant transition in the post crisis global economy. Which of the following statements are indicative of this transition? Select the correct answer using the codes given below.

A new Director outside Europe has been appointed for the first time.

Lending schemes have been restructured to meet the new economic challenges and problems of the member countries.

The Fund’s resources have been enhanced to undertake bailouts and economic assistance.

Governance reforms aimed at increasing voting rights of developing countries were introduced.

Codes:

a.)
1, 2, 3 and 4
b.)
1, 3, 4
c.)
2, 3 and 4
d.)
1, 2, and 3

Q 8.
The IMF’s director board members are:

a.)
Appointed by each member state
b.)
Elected from the members
c.)
Finance Ministers of the member states
d.)
Governors of the member countries’ central banks

Q 9.
Match the list of organizations with the list of their publications and select the correct matches using the codes given below.

   Organisation                         Publication

A. UNCTAD                  1. World Development Report

B. IMF 2. World Investment Report

C. UNDP                      3. World Economic Outlook

D. World Bank             4. Human Development Report

Codes:

A       B       C       D

a.)
3 2 4 1
b.)
2 1 4 3
c.)
1 3 4 2
d.)
2 3 4 1

Q 10.
Consider the following statements about undervalued currency and select the correct ones using the codes given below.

1. Countries make their currencies undervalued to make trade gains

2. Foreign exchange market intervention through heavy purchase of foreign currencies makes undervalued currency.

Codes:

a.)
1 and 2 correct
b.)
only1 is correct
c.)
both are incorrect
d.)
only 2 is correct

Listed 1 of 2