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General Economics (CA - CPT)

Description: Economics
Number of Questions: 15
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Tags: Mock test General Economics
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India's ranking in the world in terms of postal network is

  1. 1st

  2. 27th

  3. 10th

  4. 100th

  5. None of these


Correct Option: A
Explanation:

India is ranked number 1 in postal network. India, with pincodes and so many small villages, provides the biggest network in the whole world.

When was India's population growth negative?

  1. 1901-11

  2. 1911-21

  3. 1921-31

  4. 1931-41

  5. None of these


Correct Option: B
Explanation:

In this period only, it was negative. Hence, it is the correct option.

The Foreign Trade policy 2004-09 has

  1. identified certain thrust areas for growth

  2. started serving from India brand

  3. revamped duty free export credit

  4. All of the above

  5. None of these


Correct Option: D
Explanation:

The policy included all the three.

The IMF had an initial membership of

  1. 121

  2. 100

  3. 50

  4. 31

  5. None of these


Correct Option: D
Explanation:

This is the correct answer.

Among the following, the least liquidity is of

treasury bills immovable property bill of exchange bearer cheques

  1. treasury bills

  2. bill of exchange

  3. immovable property

  4. bearer cheques

  5. None of these


Correct Option: C
Explanation:

This is the least liquid asset out of all the four; encashing is not very easy for immovable properties.

The expansion for GRT is

  1. Great Route Tarry

  2. Green Revolution Technology

  3. Gross Registered Tonnage

  4. Green Route Tariff

  5. None of these


Correct Option: B
Explanation:

GRT stands forĀ Green Revolution Technology.

India devalued the value of rupee by about 10 million in the year

  1. 1994

  2. 1991

  3. 2000

  4. 2005

  5. None of these


Correct Option: B
Explanation:

In 1991, devalue of rupee by 10 million was done.

Which of the following is not a function of banks as a part of their regular activities?

  1. Advancing loans

  2. Accepting deposits

  3. Discounting bills

  4. Issuing notes

  5. None of these


Correct Option: D
Explanation:

It is not bank's function to issue notes and hence, the correct answer.

Which of the following is not necessary for cardinal utility theory?

  1. Rationality of the consumer

  2. Constant marginal utility of money

  3. Perfectly competitive market

  4. Additivity of utility

  5. None of these


Correct Option: C
Explanation:

Perfect competition is not necessary for cardinal utility theory. Cardinal utility depends more on consumer preferences, satisfaction, etc.

Net national income at market prices is equal to

  1. GNP (Gross National Product) at factor price + or - depreciation

  2. GNI (Gross National Income) at market price minus depreciation

  3. NDP (Net Domestic Product) at factor price + or - earning from abroad

  4. GDP (Gross Domestic Product) minus indirect taxes and subsidies

  5. None of these


Correct Option: B
Explanation:

Correct interpretation is GNP - Depreciation = Net national income at market prices

The central bank of our country is

  1. Nabard

  2. Central Bank of India

  3. RBI

  4. Bank of India

  5. None of these


Correct Option: C
Explanation:

Reserve Bank of India is our country's central bank.

A lower indifference curve shows

  1. a lower level of satisfaction

  2. a lower level of production

  3. a lower level of income

  4. a lower level of savings

  5. None of these


Correct Option: B
Explanation:

It is correct because low production means low indifference curve.

Lead bank scheme is started to ensure that

  1. big banks open offices in each district

  2. competition is raised among various nationalised banks

  3. individual bank adopt particular districts for intensive development

  4. all banks make intensive effort to mobilise deposits

  5. None of these


Correct Option: C
Explanation:

This is the main purpose of lead bank scheme.

Which of the following states has the lowest literacy rate?

  1. Uttar Pradesh

  2. West Bengal

  3. Orissa

  4. Bihar

  5. None of these


Correct Option: D
Explanation:

Bihar has the lowest literacy rate.

What is the meaning of dumping and how is it done?

  1. Price discrimination between two marks

  2. Selling at a price in another market which is lower than the price or cost in your home market

  3. Surplus production at lower cost

  4. Lower production at higher cost

  5. None of these


Correct Option: B
Explanation:

This is the right interpretation.

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