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IAS Questions of Economy - Set 7 for Prelims Exam

Nov 25, 2015 17:06 IST

    1. “Equity Reference Framework” is related to

    (a) SEBI guidelines on stock market
    (b) Initiatives by UNDP to bring in equity in society
    (c) New Bank licensing policy by RBI
    (d) Initiatives by UNFCCC against Climate change

    Answer. d

    2. The Human Development Report focus on

    (1) Sustaining development momentum
    (2) Peace and security
    (3) Confronting environmental pressure
    (4) Managing demographic change

    Codes:
    (a) 1, 2 and 3 only
    (b) 1, 3 and 4 only
    (c) 1 and 4 only
    (d) All of these

    Answer. b

    3. The term budget deficit means

    (a) Borrowing from the market
    (b) Borrowing from RBI
    (c) Borrowing from international agencies
    (d) Total borrowings

    Answer. b

    4. Which of the following taxes are regressive taxes?

    (1) Income tax
    (2) Corporate tax
    (3) Excise duty
    (4) Sales tax

    Codes:
    (a) 1 and 2 only
    (b) 3 and 4 only
    (c) 2, 3 and 4 only
    (d) All of these

    Answer. a

    5. WTO divides supports given to agricultural sector into three groups, Which of the following pair(s) is/are not correctly matched?

    (1) Public Distribution System  :   Green Box Subsidy
    (2) Production limiting Subsidy :   Amber Box Subsidy
    (3) Minimum Support Price      :   Blue Box Subsidy

    Codes:
    (a) 1 and 2 only
    (b) 2 and 3 only
    (c) 1 and 3 only
    (d) 3 only

    Answer. b

    6. Which of the following statements regarding Laffer curve are correct?
     
    (1) It shows the relationship between tax rate and tax payment behavior of the people.
    (2) If tax rate increase beyond a critical point, tax collection starts falling.

    Codes:
    (a) 1 only
    (b) 2 only
    (c) Both 1 and 2
    (d) Neither 1 Nor 2

    Answer. c

    7. Which country became the 19th member to join the Eurozone?

    (a) Latvia
    (b) Lithuania
    (c) Azerbaijan
    (d) Ukraine

    Answer. b

    8. India is a regular member of which of the following organizations?

    (1) BIMSTEC
    (2) Shanghai Cooperation Organization
    (3) ASEAN
    (4) G-20

    Codes:
    (a) 1 and 2 only
    (b) 2 and 3 only
    (c) 1 and 4 only
    (d) All of these

    Answer. c

    9. Which of the following statement(s) regarding e-Biz is/are correct?

    (1) It is one of the Mission Mode Projects under the National e-Governance Programme
    (2) It is to provide a single window mechanism for number of services to business users

    Codes:
    (a) 1 only
    (b) 2 only
    (c) Both 1 and 2
    (d) Neither 1 Nor 2

    Answer. c
     
    10. Which of the following statements are correct?

    (1) The headquarter of the World Intellectual Property Organization (WIPO) is at Rome
    (2) It is an agency of United Nations
    (3) The trade Related Aspects of Intellectual Property (TRIPS) are binding on all WTO members.

    Codes:
    (a) 1 and 2 only
    (b) 2 and 3 only
    (c) 1 and 3 only
    (d) All of these

    Answer. d

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