Economic Quiz For FCI Phase I 2022- 17th September

Q1.Real estate comes under which sector?
(a) Primary
(b) Tertiary
(c) Secondary
(d) Both Secondary and Tertiary
(e) None of these

Q2.What is the full form of PMGSY?
(a) Pradhan Mantri Greh Sadak Yojana
(b) Pradhan Mantri Gaon Sadak Yojana
(c) Pradhan Mantri Guarantee Sadak Yojana
(d) Pradhan Mantri Gram Sadak Yojana
(e) None of these

Q3.Match the following:

(a) 1-b, 2-a, 3-c, 4-d
(b) 1-c, 2-a, 3-d, 4-b
(c) 1-b, 2-c, 3-d, 4-a
(d) 1-b, 2-a, 3-d, 4-c
(e) None of these

Q4.Which Five Year Plan had a motive of ‘Faster, More inclusive and Sustainable growth’?
(a) Tenth
(b) Twelth
(c) Seventh
(d) Eleventh
(e) None of these

Q5.How many Navratnas CPSEs (Central Public Sector Enterprises) are there in India?
(a) 16
(b) 19
(c) 18
(d) 21
(e) None of these

Q6. Demand curve will shift forward, when ______.
(a) Price of complementary good falls
(b) Price of substitute goods decreases
(c) Income of the consumer falls
(d) Price of complement good increases
(e) None of these

Q7. What is the full form of NSDL?
(a) National Society Development Limited
(b) National Securities Depository Limited
(c) National Social Development Limited
(d) National Safety Development Limited
(e) None of these

Q8. If exports equal imports then, which of the following relations will be true?
(a) GDP = GNP
(b) GDP > GNP
(c) GDP < GNP
(d) GDP > GNN
(e) None of these

Q9. What is the minimum base rate fixed by RBI?
(a) 8.30 %
(b) 8.25 %
(c) 8.70 %
(d) 10 %
(e) None of these

Q10. Who among the following gave the ‘Gandhian Plan’ in 1944?
(a) D. D. Dhar
(b) S. N. Aggarwal
(c) M. N. Roy
(d) J. P. Narayan
(e) None of these

Solutions

S1. Ans.(b)
Sol. Real estate is the property, land, buildings, air rights above the land and underground rights below the land. Real estate comes under tertiary sector. Tertiary sector include service sector, construction sector, real estate.

S2. Ans.(d)
Sol. The Pradhan Mantri Gram Sadak Yojana (PMGSY), was launched by the Govt. of India to provide connectivity to unconnected Habitations as part of a poverty reduction strategy. Govt. of India is endeavoring to set high and uniform technical and management standards and facilitating policy development and planning at State level in order to ensure sustainable management of the rural roads network.

S3. Ans.(d)
Sol. IMF- Washington D.C
WTO- Geneva
ADB- Philippines
SAARC- Kathmandu.

S4. Ans.(b)
Sol. The Planning Commission drafted 12thFive Year Plan – Faster, More Inclusive and Sustainable Growth The 12thPlan says that it is guided by a vision of India moving forward in a way that would ensure a broad-based improvement in living standards of all sections of the people through a growth process which is faster than in the past, more inclusive and also more environmentally sustainable’

S5. Ans.(a)
Sol. There were 16 Navratnas CPSEs – Bharat Electronics Limited, Container Corporation of India Limited, Engineers India Limited, Hindustan Aeronautics Limited, Hindustan Petroleum Corporation Limited, Mahanagar Telephone Nigam Limited, National Aluminium Company Limited, National Buildings, Construction Corporation Limited, NMDC Limited, Neyveli Lignite Corporation Limited, Oil India Limited, Power Finance Corporation Limited, Power Grid Corporation of India Limited, Rashtriya Ispat Nigam Limited
Rural Electrification Corporation Limited, Shipping Corporation of India Limited.

S6.Ans.(a)
Sol. A shift in the demand curve is when a determinant of demand other than price changes. Demand curve will shift forward, when Price of complementary good falls.

S7.Ans.(b)
Sol. National Securities Depository Limited (NSDL) is an Indian central securities depository based in Mumbai. It was established on 8 November 1996 as the first electronic securities depository in India with national coverage based on a suggestion by a national institution responsible for the economic development of India.

S8.Ans.(c)
Sol. GDP refers to and measures the domestic levels of production in a country. GNP measures the levels of production of all the citizens or corporations from a particular country working or producing in any country. Thus, if exports equal imports then GNP is more than GDP.

S9.Ans.(c)
Sol. Base Rate is the minimum rate of interest the banks are permitted to charge their customers. The new Base Rate as fixed by RBI is 8.70% to 9.45% p.a.

S10.Ans.(b)
Sol. Gandhian Plan was put forward by Shriman Narayan Aggarwal in 1944 who was principal of Wardha Commercial College.