Economics Quiz-3 for SSC CHSL/CGL 2016-17

Q1. Reserve Bank of India (RBI) was established on the recommendations of.............? 

(a) Hilton Young Commission

(b) CRAFICARD

(c) S.Chetty Commission

(d) U.K.Patel Committee

Q2. Who among the following gave the definition of Economics as the “Science which deals with wealth”?

(a) J. M. Keynes

(b) H. C. Dickinson

(c) Henry Smith

(d) J. B. Say

Q3. Freedom of choice is the advantage of

(a) socialism

(b) capitalism

(c) mixed economy

(d) communism

Q4. Which one of the following is the objective of   National Watershed Development project for rainfed areas of India?

(a) Sustainable farming systems

(b) Integrated Watershed Management

(c) Reclamation of Forest Area

(d) Both (a) and (b)

Q5. Which bank sponsored first Regional Rural Bank (RRB) in India by the name  Prathama Grameen Bank?

(a) Allahabad Bank

(b) UCO Bank

(c) Syndicate Bank

(d) NABARD

Q6. The objective of selective credit controls is mainly to?

(a) Selectively allocate credit to commercial banks

(b) Selectively allocate credit among borrowers

(c) Regulate the quantity of demand deposits created by commercial banks

(d) Regulate the quantity of credit created by commercial banks

Q7. Total utility is maximum when:

(a) marginal utility is zero.

(b) marginal utility is at its highest point.

(c) marginal utility is equal to average utility.

(d) average utility is maximum.

Q8. Grasham’s low relates to.............?

(a) Money supply

(b) Money and prices

(c) Real output

(d) Employment

Q9. With reference to agriculture sector of India, consider the following statements

1. Rural Infrastructure Development Fund disperses loans to the states to complete the minor irrigation projects.

2. Rural Infrastructure Development Fund is managed by the public sector commercial banks.

Which of the statements given above is/are correct?

(a) Only 1

(b) Only 2

(c) Both 1 and 2

(d) Neither 1 nor 2

Q10. Swaroop Committee is associated with

(a) financial products marketing

(b) sugar marketing

(c) banking

(d) capital marketing

Q11. The term “MSME” used in banking parlance means _____?

(a) Mini, Small and Medium Enterprises

(b) Micro, Small and Medium Enterprises

(c) Mini scale Marketing Enterprises

(d) Medium Scale Marketing Enterprises

Q12. If the valuation of a currency is increased with respect to another currency, then it is known as..........?

(a) appreciation

(b) depreciation

(c) devaluation

(d) revaluation

Q13. Exchange rate or Conversion rate is -

(a) the rate at which a currency is converted to another currency

(b) the rate at which a bank pays interest to its savings deposits

(c) the rate charged at foreign transactions

(d) All of the above

Q14. An extra tax that may be added to the existing tax calculation is -

(a) Service Tax

(b) Surcharge

(c) Sales Tax

(d) All of the above

Q15. Which of the following is the apex authority for Direct Taxes?

(a) CBDT

(b) CBEC

(c) RBI

(d) SEBI

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