1. The 2004-09 Foreign Trade Policy gave emphasis to
[B]increasing customs duty
[D]long term trade relations
2. Markets fail when
[A]they do not maximise the aggregate consumer and producer surplus
[B]they maximise aggregate consumer and producer surplus
[C]they equalise the aggregate consumer and producer surplus
[D]they escalate the aggregate consumer and producer surplus
they don not maximize aggregate consumer and producer surplus
Market failure occus because prices fail to provide the proper signals to consumers and producers, the unregulated competitive market is inefficient — ie, does not maximize aggregate consumer and producer surplus.
3. Neglect of agriculture in the development process will lead to
[B]shortage of foreign exchange
[C]lower levels of production
[D]severe bottlenecks in overall development
severe bottlenecks in overall development
4. Monopolistic competition produces
5. A Socialist economy is
[A]a non-planned economy
[B]a democratic economy
[C]an equalitarian economy
[D]a planned economy
an equalitarian economy
Social economy is more euqlitarian than market economy.
6. That India is a secular state is implied in the phrase
[A]Equality of status
[B]Liberty of faith and worship
[D]Dignity of the Individuals
Liberty of faith and worship
7. Which kind of veto can the President make use of with regard to bills by the Parliament?
[D]All of the above
All of the above
The veto power of the President of India is a combination of qualified veto, suspension veto and pocket veto.
8. In which country will the Speaker soon after getting elected severs all kinds of relations with his party?
The Speaker in Engalnd, by convention, severs all ties with his or her political party, as it is considered essential that the Speaker be seen as an impartial presiding officer
9. Gandhian economy emphasises on
[A]Humanitarian and cultural values
[B]Spiritual and religious values
[C]Political and Social Values
[D]Socialist and economic values
Socialist and economic values
Gandhian economics is a school of economic thought based on the socio-economic principles expounded by Mahatma Gandhi and it is characterised by its affinity to the principles and objectives of nonviolent humanistic socialism, but with a rejection of violent class war and promotion of socio-economic harmony. Gandhi's economic ideas also aim to promote spiritual development and harmony with a rejection of materialism. The term "Gandhian economics" was coined by J. C. Kumarappa, a close supporter of Gandhi.
10. Which country's Constitution is a mixture of both Parliamentary and Presidential forms of Governments ?
French system aims for the best of both worlds, combining a strong president with a parliamentary form of government.