Wednesday, June 24, 2015

Selected Questions from Indian Economy for SSC CGL Exam

Selected Questions from Indian Economy for SSC CGL Exam
  • Inflation, in theory, occurs when money supply grows at a higher rate than GDP in real terms.
  • The existence of a large parallel economy, fluctuations in agricultural and industrial output and indirect taxation are the reasons for :      Cost-push inflation.
  • Among the supply side measures to contain inflation is: to increase the supply of products or commodities.
  • Population experts refer to the possible 'demographic bonus' that may accrue to India around 2016 A.D. They are referring to the phenomenon of: A surge in the population in the productive age groups.
  • The significant change in the new FEMA which has replaced FERA is that the emphasis from imprisonment will be shifted to: Voluntary Compliance
  • 'Level playing field' argument industries requires: Domestic industry to be treated at par with MNCs.
  • One of the disadvantages of the Wholesale Price Index in India is that: It does not cover the service sector.
  • Check-off system refers to the verification of membership through : deduction of subscription from pay.
  • Direct taxation is a better form of taxation because: It allows for taxation according to means.
  • Lender of the last resort, periodic inspection of commercial banks, issue of bank notes of all denominations are the functions of : Reserve Bank of India
  • Multi Fibre Agreement deals with :Textiles
  • Under the Medium Term Fiscal Restructuring Programme, state governments have been permitted to borrow from international financial institutions like the World Bank and Asian Development Bank to : replace their high cost debt with low cost funds.
  • Open market operation of fiscal deficit was suggested by : Chakravarthy Committee.
  • According to chakravarthy Committee, one of the principal causes affecting price stability in India is: Violent fluctuation in agricultural production.
  • The concept of Total Fertility Rate(TFR) in population means the average number of children born to a woman during her lifetime.
  • The first bank managed by Indians was :Oudh Bank
  • The statement, "India has achieved national food security but has not ensured household food security" means: there is sufficient food stock but all households do not have access to it.
  • The permit for duty free trade issued by the East India Company at a price to private traders was called: Diwani
  • The demand for establishment of a department of agriculture in India was made by :Manchester Cotton Supply Association
  • The birth rate measures the number of births during a year per : 1000 of population
  • Structural unemployment arises due to :Inadequate productive capacity
  • "Disguised unemployment" refers to : more persons employed for a job which a few can accomplish.
  • The securities and Exchange Board of India (SEBI) has imposed a restriction on money flow in equity through "P-Notes". The full form of "P-Notes" is: Participatory Notes.
  • The money which government of India spends on the development of infrastructure in country comes from the following sources- Loan from World Bank/ ADB etc. Taxes collected from the people, Loan from the RBI etc.
  • "Investor Protection Fund" has been established by : Stock Exchange
  • The full form of FII is: Foreign Institutional Investor
  • The Union Government, on March 3, 2008, launched a conditional cash transfer scheme for the girl child. The conditions of this scheme include registration of birth of the girl, following a total immunisation schedule, school enrolment and delaying of marriage until the age of 18 years. The name of this scheme is :Dhan Laxmi
  • The National Association of Software and Service Companies (NASSCOM), the premier trade body represents: the IT and BPO industry
  • The largest consumer of natural gas in the world is : the USA
  • The country which leads in oil-consumption in the world is : the USA
  • The country which leads in Internet users in the world is : the USA
  • World's leading gold producer country is: South Africa
  • Entry for Normal Loss is recorded in :Trading Account
  • In product life cycle, the cost per unit is generally highest in the stage of :Introduction
  • Accounting acronym GAAP stands for :Generally Accepted Accounting Practices
  • Limited Liability is available in the kind of business organisation called: Company
  • Rank Account is called :Real Account
  • The form of accounting states that transactions are to be recorded in the period that they occur is:  Accrual basis of accounting
  • The most important ratio for the Sales Tax Department from the control point of view is :Gross Profit Ratio
  • The most important ratio for the Income Tax Department from the control point of view is:  Net Profit Ratio
  • The abbreviaion for debit and credit come from the language : Latin, 'debere and credere'
  • A Public Limited Company tries to maximise: Wealth of Shareholders
  • Anticipated losses are recorded in the books of accounts as per: Matching of Cost and Revenue
  • Goodwill is recorded in the books of account only when : It is valued
  • Depreciation Account is called: Nominal Account
  • Monopoly is when there is single: Seller
  • We can get the current ratio by :dividing current assets by current liabilities
  • The major rubber producing state in India is: Kerala

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