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Q.1What is a fiscal deficit?

A) It is a gap between the values of import & export.

B) It is a gap between the import & export minus external borrowings

C) It is a gap between total expenditure & total receipts of the Govt.

D) It is a gap between total receipts minus external borrowing

Ans. C


Q.2 Sweat Labour implies goods produced by

A) Female labourers at a very low wage.

B) Laboures working in inhuman/ unhealthy working conditions.

C) Labourers working for more than eight hours a day without any break.

D) Labourers where there is a wage discrimination between male & female labourers.

Ans. B


Q.3 The difference between visible exports & visible imports is defined as

A) Balance of trade

B) Balance of payment

C) Balanced terms of trade

D) Gains from trade

Ans. A


Q.4 Which of the following is not a part of the scheduled banking structure in India?

A) Moneylenders

B) Public sector banks

C) Private sector banks

D) Regional rural banks

Ans. A


Q.5 In which of the following activities percentage share of cooperative sector is the highest?

A) Agricultural credit Disbursement

B) Sugar production

C) Wheat procurement

D) Handlooms

Ans. B


Q.6 Which of the following are members of BASIC?

1. India

2. China

3. South Africa

4. Brazil


A) 1,2,4

B) 1,2,3,4

C) 1,3,4

D) 4 only

Ans. B


Q.7 Which of the following is/are indicator the financial health of a country?



III. FDI in a yr


A)  I only


C) I & II

D) All are correct

Ans. C


Q.8 Who among the following can be the Chairman of the National Human Rights


A) Any serving judge in the Supreme Court.

B) Any serving judge in the High Court.

C) Only retired Chief Justice of India.

D) Only retired Chief Justice of High Courts.

Ans. C


Q.9 Which of the following  is responsible for the preparation & presentation of

Union Budget to the Parliament?

A) Department of Revenue

B) Department of Economic Affairs

C) Department of Financial Services

D) Department of Expenditure

Ans. B


Q.10 When the Reserve Bank of India announces an increase of the Cash Reserve

Ratio, what does it mean?

A) The commercial banks will have less money to lend.

B) The RBI will have less money to lend.

C) The Union Govt. will have less money to lend.

D) The commercial banks will have more money to lend.

Ans. A