Quiz 321: General Socio-Economic Awareness for Bank PO Examinations

1.Which among the following phrases generally denotes National Income?
(A)Gross National Product at Market Prices
(B)Net National Product at Market Prices
(C)Gross National Product at Factor Cost
(D)Net National Product at Factor Cost
(E)None of them

2.If a commodity has more number of substitutes, the demand for this commodity will be _______?
(A)more elastic
(B)less elastic
(D)perfectly elastic
(E)no impact on demand

3.With which among the following environment issues Raina Report 2009 is related to ? (It was recently released by Environment Minister Jairam Ramesh)
(A)Pollution in Ganga
(B)Environmental Impacts of Bt Brinjal
(C)CO2 emission Standards
(D)Ozone Depletion
(E)Melting Glaciers

4.Which of the following country’s government is known to impose Policy of Apartheid between 1948 and 1994 which curtailed rights of the black inhabitants and maintained rights of whites?
(B)New Zea Land
(C)South Africa
(D)United States
(E)West Indies

5.Which of the following reforms in India had Abolition of intermediaries and tenancy reforms as components?
(A)Banking Reforms
(B)Tax Reforms
(C)Industrial Reforms
(D)External Sector Reforms
(E)Land Reforms

6.Which among the following represents an example, in which National Income is double counted?
(A)Wages of Bus and Wages of Train Drivers
(B)Coal energy output and hydro electric energy output
(C)Tax receipts and Salaries of Revenue Officers
(D)Cotton Output and Cotton cloth output
(E)Cotton output and Jute output

7.Which among the following is considered as an important power of World Bank?
(A)World Bank has right to insist on pegged parities
(B)World Bank has right to float Bonds and use the proceeds for loans
(C)World Bank has right to suspend the operation of tariffs imposed without WB’s permission
(D)World Bank has right to buy gold below current Gold prices
(E)All of above

8.A change from Rs. 48 = $1 to Rs. 47.50=$1 will represent the following: (More than 1 options)
(A)depreciation of Rupee
(B)Depreciation of Dollar
(C)appreciation of Rupee
(D)Appreciation of the dollar
(E)None of them

9.Which of the following sectors use largest fraction of commercial energy in India?
(E)None of them

10.Many a times we read in the newspapers that a large fraction of government expenditure in India is on non plan expenditures like defense and maintenance of law & order. How these non plan expenditures affect the inflation in India?
(A)They tend to increase the inflation
(B)They tend to decrease the inflation
(C)They have minimal impact on inflation
(D)They have no impact at all on inflation
(E)They cause stagflation

11.Which among the following measure of controlling inflation can be taken up byReserve Bank of India & not by Government of India?
(A)Introducing a progressive tax system
(B)Control over public expenditures
(C)Rationing of credit
(D)Improving profits of public sector
(E)Increase efficiency of PDS (Public Distribution System)

12.In which year Wholesale Price Index (WPI) was published for the very first time?

13.What is the full form of ITC Ltd. Which deals in FMCG, Hotels, Paperboards & Packaging, Agri-business and IT services?
(A)International Tobacco Company
(B)International Travel Company
(C)Imperial Tobacco Company
(D)International Travel Consortium
(E)Indian Tobacco Company

14.Recently we read in the newspapers that gross non-performing assets (NPAs) are reportedly 27% higher at the end of December 2009 than at the end of December 2008. This gives the following inferences:
1. The overall asset quality of the Banks has deteriorated in this one year
2. The slowdown in growth leads to trigger a rise in NPAs
3. The interest rates should be lowered as a measure to check in increasing NPS
Which among the above statements hold true?
(A)1 only
(B)1 & 2 only
(C)2 & 3 only
(D)all 1, 2 & 3
(E)None of them

15.Benson Hedges Cup is related to which of the following sports?
(D)Basket Ball
(E)None of them

16.Which among the following body in India requires to protect the interests of consumers against anti-competitive practices of all market entities?
(A)National Consumer Forum
(B)Competition Commission of India
(C)National Consumer Disputes Redressal Commission
(D)Central Vigilance Commission
(E)Monopoly and Restrictive Trade Practices Commission

17.Which among the following organization is an best example of an agreement between Oligopolists?

18.Which among the following is commonly called as “Soft Loan Window ” of the World Bank?
(A)International Monetary Fund
(B)International Finance Corporation
(C)International Development Association
(D)B & C
(E)None of them

19.Which among the following economists / psychologists (please note option B Maslow who is known for his hierarchy of needs was an Psychologist and not economist) is known to raise the fear of World Food Shortage for the very first time?
(A)John Maynard Keynes
(B)Abraham Maslow
(C)Alfred Marshall
(D)Thomas Robert Malthus
(E)William Whewell

20.At which of the following rate, RBI discounts bills of commercial Banks?
(A)Bank Rate
(B)Repo Rate
(C)Reverse Repo Rate
(D)None of them

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