ROUND-2

1. Which of the following countries joined WTO in the year 2012. a. Russia b.Serbia c.Ukraine d.Vanuata Select the correct answer from the codes given below? a. 2 only b.1 and 3 only c.1,2 and 3 only d.1 and 4 only 2. Which of the following instrument crucially determine market borrowings by government of India? a. Repo rate b.Cash reserve ratio

c. Statutory liquidity ratio 3. Which of the committee played an important role in suggesting Financial Reform after 1991? a. Rangarajan committee b.Abid Hussain committee c. Narasimhan committee 4. Lorentz curve measures a. Absolute Poverty b.Income Inequality c.Structural Unemployment d. Headline Inflation 5.The process of budget making based on fresh evaluation of expenditure in every financial year is known as a. zero based budgeting b. incremental budgeting c. outcome budgeting d. performance budgeting

6. Five year plan in India is finally approved by a. Planning commission b. Union cabinet c. President on advice of PM d. National Development Council 7. Corporate tax is a tax a.Levied by the centre and collected appropriated by the b. Levied and appropriated by the states c. Levied by the centre and belongs to it. d. Levied by the states and share with centre. 8. Agricultural income tax is assigned to the state government by finance commissiona. finance commission b. National development council c. Interstate council d. The Constitution of India. 9. "World Development Report' is an annual

publication ofb. International Bank of Reconstruction & Development c.World Trade Organisation. d. International Monetary Fund 10.13th finance commission covers the time period ofa. 2010-15 b.2015-20 c.2014-19 d.2008-2013 11.Goods & Service tax as advocated by Kelkar task force in 2004, will merge all indirect taxes both of states & center. Select the correct choice b.False 12.Economic survey of India is published officially every year by thea.RBI b. Planning commission of India

c. Ministry of Finance,GOI d. Ministry of Industries,GOI 13.Tobin Tax is based on capital gains made in the stock market a. True b. False 14.The term "Hot Money" is associated with a. FDI b. Stock Market c. Non Resident Deposit d. Foreign Portfolio Investment 15. At present Kaushik Basu is not a permanent member of Planning Commission of Indiaa. True b. False 16. Which of the following rate(s) is /are NOT determined by RBI?

a. Call Money Rate b. Prime Lending Rate c. Base Rate d. Bank Rate Select the correct answer from the codes given belowa.1 only b.1 and 2 only c.1, 2 and 3 only d.1,2,3 and 4 only 17. Consider the following1. Nationalization of 14 major banks 2. Nationalization of SBI 3. Nationalization of RBI 4.Nationalization of UTI Select the correct chronological order from the codes given below-

a. 3,4,2,1. b. 3,2,4,1 c. 4,3,2,1 d. 2,3,4,1 18.What approximately was the growth rate recorded by the industrial sector of India during the year 2011-2012? a.6.6% b.5.5% c.10.5% d.3.4% 19. Taxes on the sales and purchases of newspapers and advertisements therein are imposed by the a. Center b. State c. Both Center and State

d. None of them 20.Which of the following deficits gives a true status of the governments current year finances a. Fiscal deficit b. Revenue Deficit c. Monetizied deficit d. Primary deficit 21.Bank rate implies rate of interest a. Paid by RBI on the deposits of commercial banks b. Charged by banks on loans and advances c. Payable on loans d. At which RBI discounts bills of exchange 22. According to Engels law, with increase in incomea.Expenditure on food items decreases b.Expenditure on food items increases

c.Proportion of Income spent on food item increases d.Proportion of Income spent on food item decreases 23.Fiscal Responsibility and Budgetory Management Act concernsa.Fiscal deficit only b.Revenue deficit only c.Both revenue and fiscal deficit d.Neither fiscal nor revenue deficit 24.Gilt edgeda. Bullion market b. Market for government securities c.Market for guns d.Market for pure metals 25.Which of the following is an example of expansionary fiscal policy-

a.Decrease in CRR b.Decrease in SLR c. Decrease in Income tax rate d.Increase in Income tax rate 26.Which of the following is not a instrument of credit control in Indiaa. Regulation of Consumer credit b. Rationing of credit c.Margin requirement d.Veriabe cash reserve ratio 27.National Income isa. Net National Product at market price b. Net National Product at factor prices c.Net domestic product at market price d. Net domestic product at factor cost 28.A redistribution of income in a country can be best brought about through -

a. Progressive taxation combined with progressive expenditure b. Progressive taxation combined with regressive expenditure c. Regressive taxation combined with regressive expenditure d. Regressive taxation combined with progressive expenditure 29. Which of the following come under Npn Plan Expenditure ? a. subsidies b. Interest payments c. Defence Expenditure d. Maintaince expenditure for the infrastructure created in the previous plans Choose the correct answer using the codes given belowa.1 and 2

b. 1 and 3 c. 2 and 4 d. 1,2,3 and 4 30. 'ECO MARK' is given to the Indian Products that area.pure and unadultrated b. rich in proteins c. environment friendly d.economically viable