ENGLISH Directions (1-4) : Read the following passage carefully and answer the question given below it.

Certain words/phrases are given in bold to help you locate them while answering some of the questions. An equally outstanding feature of the ancient Indian educational system is Adhyatma Vichara. Because of this very basic character of an eternal spiritual quest, the Indian system of education is sometimes mistaken to be other worlly whatever be the walk of life or the field of specialization, be it science of medicine, or the mechanics of war or the art of music or dance, the performer and the performance are always dedicated to the Divine. Daivarpura mastu is the attitude of every author of every educator of every householder and of very student. There is no science without sublimity and no education without enlightenment. A totally materialistic world is like the paper flower. It may last longer but exists without natural fragrance and an inner potentiality to multiply its message. Unfortunately, our modern education system is like this paper flower. That is the reason why an increased emphasis is laid these days on non-formal education. A large number of books have emerged even from the west like the Peasant Pedagogy of Paulo Fraire. Another title is Deschooling society. Even in the West, very sensitive and highly intellectual people have got fed up with formal education. The paper degrees and diplomas have formalized the system so much that our whole society is swelling up with the educated unemployed. A peculiar situation arises there from; all the uneducated some how seem to be employed all the time, and all the educated seem to be unemployed all the time. That is the reason why an increasing tendency is noticed on the part of employers to prefer performance to mere qualifications.

Q.1) The author s attitude towards present Indian education is essentially (1) realistic (2) despairing (3) distorted (4) uncritical (5) hopeful Q.2) The writer believes that (1) ancient education system was the best (2) there are problems in the present educational system (3) people should do their work with detachment (4) Peasant Pedagogy is the best book on education (5) None of these Q.3) Which of the following is FALSE in the context of the passage? (1) Modern educational is artificial (2) Indian education should borrow western ideas (3) Unemployment is the fruit of present educational system (4) Westerners are changing to non-formal education (5) Indiscriminate spread of education results into deterioration of its quality Q.4) The book titled Deschooling Society would have discussed (1) how modern societies will function without education (2) how pre-historic societies educated themselves without school (3) how education can take place outside the schools (4) how present education has created problems rather than giving solutions (5) none of these Directions (5-7) : Choose the word which is most nearly the SAME in meaning as the word given in bold as used in the passage Q.5) ENLIGHTENMENT

(1) Lightness (2) Insight (3) Twilight (4) Blinding (5) Proficiency Q.6) SUBLIMITY (1) Despression (2) Reduction (3) Subversion (4) Precipitation (5) Proficiency Q.7) DEDICATED (1) Devoted (2) Loyal (3) Submissive (4) Sincere (5) Conscious Directions (8-10) : Choose the word which is most OPPOSITE in meaning as the word given in bold as used in the passage Q.8) FRAGRANCE (1) Aroma (2) Perfume (3) Smell (4) Flavour (5) Stink Q.9) PECULIAR (1) Characteristic (2) Special (3) Specific (4) Distinct (5) Universal Q.10) ETERNAL (1) Momentary (2) Continual (3) Everlasting (4) Endless (5) ceaseless

Directions (11-20) : Read each sentence to find out whether there is any grammatical error in it. The error any will be in one part of the sentence. The number of that part is the answer. If there is no error, the answer is (5), (Ignore the errors of punctuation, if any) Q.11) The forest service (1)/ announced that (2)/ the forest fire (3)/ would destroy our town (4)/ No error (5).

Q.12) I respectedly(1)/ request(2)/ your consideration(3)/ of my application(4)/ No error(5). Q.13) Although the truck(1)/ was without brakes(2)/ the driver skillfully(3)/ guided it down through hill(4)/ No error(5). Q.14) The famous orator. President Roosevelt(1)/ was in power(2)/ longest than(3)/ anybody else(4)/ No error(5). Q.15) He is(1)/ interested but(2)/ suspicious of(3)/ the new cashier(4)/ No error(5). Q.16) Does books for children(1)/ use shorter sentences(2)/ than those(3)/ for adults(4)/ No error(5). Q.17) A play wright must characterize(1)/ mainly through action and speech(2)/ but a novelist may use(3)/ a great number of technique(4)/ No error(5). Q.18) The pieces of glass windows(1)/ were spread for miles(2)/ but it apparently(3)/ killed no one(4)/ No error(5). Q.19) Two drunks(1)/ were singing loud(2)/ near the hospital(3)/ and a policeman was following them(4)/ No error(5). Q.20) I like Faulkner(1)/ as well as(2)/ even beset(3)/ then I like Steinbeck(4)/ No error(5). Directions (2125) : In each sentence below, four words which are numbered (1), (2), (3) and (4) have been printed in bold type, one of which may be either inappropriate in the context of the sentence or wrongly spelt.

The number of that word is the answer. If all the four words are appropriate and also correctly spelt, mark (5) i.e. All Correct as the answer. Q.21) There was(1)/ several(2)/ simple explanations(3)/ for the defeat(4)/ All Correct(5). Q.22) The audience(1)/ are(2)/ applauding(3)/ vigorously(4)/ All correct(5). Q.23) About one-third of the questionnaires were(1)/ not returned(2)/ ,and one seventh of the replies(3)/ were unusable(4)/ All correct(5). Q.24) The period(1)/ of history that fascinates(2)/ me more(3)/ is the middle age(4)/ All correct(5). Q.25) After(1)/ you have seen the Taj Mahal, no other arcitectural(2)/ triumph is likely to impress(3)/ one(4)/ All correct(5). ANSWERS 1. (2) 2. (2) 3. (2) 4. (3) 5. (2) 6. (5) 7. (1) 8. (5) 9. (5) 10. (1) 11. (5) 12. (1) 13. (3) 14. (3) 15. (2)

16. (1) 17. (4) 18. (2) 19. (2) 20. (3) 21. (1) 22. (2) 23. (4) 24. (3) 25. (4) ENGLISH Direction (1 5) : In the following passage, the first and the last parts of the sentence are numbered 1 and 6. The rest of the sentence is split into four parts and named, P, Q, R and S. These four parts are not given in their proper order. Read the parts and find out which of the four combinations is correct. Then find the correct answer and blacken the appropriate rectangle in the Answer Sheet. Q.1) 1. Making ourselves P. our language Q. part of growing into R. masters of S. is an important 6. full manhood or womanhood (1) PSRQ (2) SQPR (3) RPSQ (4) PRSQ Q.2) 1. The very first battle they fought

P. and they had to fall back Q. cross the border R. was lost S. letting the enemy 6. an enter the country (1) RQSP (2) RPSQ (3) QRPS (4) QPRS Q.3) 1. A nation P. the material assets it possesses Q. is not made by R. and collective determination S. but by the will 6. of the people (1) PQRS (2) QPSR (3) RSPQ (4) SRPQ Q.4) 1. When the Governor P. the bell had rung Q. justice should be immediately R. he ordered that S. found out why 6. done to the horse (1) RSPQ (2) PQSR (3) SPRQ (4) SQRP Q.5) 1. When you ponder over P. that the only hope

Q. you will realize R. of world peace lies S. the question deeply 6. in the United Nations (1) QRSP (2) SPQR (3) SQPR (4) RSPQ Direction (6 15) : In the following passage, some of the words have been left out. First read the passage over and try to understand what it is about. Then fill in the blanks with the help of the alternatives given. Mark your answer in the Answer Sheet. The language problem is not solved by deciding the medium of instruction in the education institutions. The problem is 81. between State Governments still 82. At present, each State Government is 83 the process of 84 the 85 language as the medium for 86 purposes. Then the need for a stable language for 87 communication 88. Moreover, the Central Government shall 89 adopt a particular language for 90 own official work. Q.6) (1) communication (2) information (3) intimation (4) decision Q.7) (1) stays (2) remains (3) resides (4) rests Q.8) (1) into (2) through (3) with (4) in

Q.9) (1) adapting (2) imposing (3) thrusting (4) adopting Q.10) (1) local (2) mother (3) regional (4) foreign Q.11) (1) governmental (2) officious (3) administrative (4) religious Q.12) (1) inter-state (2) regional (3) international (4) intra-state Q.13) (1) come up (2) rises (3) crops up (4) persists Q.14) (1) having to (2) have to (3) had been (4) have been Q.15) (1) its (2) their (3) our (4) his Direction (16 25) : In the following passage, you have two brief passage with 5 questions following each passage. Read the passages carefully and choose the best answer to each question out of the four alternatives and blacken the appropriate rectangles in the Answer-sheet.

Passage - I The Law is an ass , declared Mr. Bumble in Oliver Twist , and it often seems he was right. For punishment does not always fit the crime and it rarely happens that a prison term reforms a criminal. Consider the following tow cases. The first one had happened in a village in Madural District. One Gopal One Gopal Yadhav, a hard-core criminal undergoing life sentence in the Madural Prison came out on ball for two days to perform the last rites of his mother. But he was rearrested on the same evening on the charges of murdering his neighbour s son the settle old scores. The second case too came to Madural Court recently. Deserted by her husband a drunkard, his griefstricken wife mixed rate poison in the food and gave it to her four children aged between 1 and 9 years. Before she could swallow the same food she was unable to bear the pritiable sight of her children writhing in pain. She rushed them to hospital where she disclosed everything. She was able to save the lives of the first three children, but the law of the country awarded her tow years imprisonment (later commuted to one year) on the charges of plotting to kill her children. Would you say women like here are a danger to the society? Would you call them criminal? It is high time that we found other ways of registering our disapproval of wrong doing. To imprison the bad is expedient when they are dangerous. To imprison the mad and the merely sad, as we do, is not only unnecessary, it is uncivilized. Q.16) The writer says The Law is an ass because (1) it is as patient as an ass (2) it does not punish the criminals severely (3) punishments do not help to reform criminals

(4) criminals can escape punishment. Q.17) Gopal Yadhav came out on ball (1) in order to murder his enemy (2) to cremate his mother (3) so that he could be rearrested (4) to see his four children undergoing treatment in the hospital Q.18) The mother in the second case cannot be called a criminal because she (1) rushed her children to the hospital (2) mixed an ineffective poison in the food (3) was able to save three out of four children (4) was deserted by her husband. Q.19) The writer argues that punishments for people like the woman in the second case are not necessary because they (1) don t commit crimes frequently (2) are less dangerous than other criminals (3) represent poor society (4) should not be clubbed with other criminals Q.20) The main difference between the two case is (1) the first is about a man and the other is about a woman (2) the woman regrets what she has done, but not the man (3) the man is a lifer but the woman is not (4) the man and the woman belong to different communities Passage - II The United Nations Fourth World Women s Conference had a colourful start at Beijing on September 4 th

. This is the century s most crucial conference which aimed at changing the status quo of women s lives characterized by inequality. In a preliminary session, Ms. Aung Suu Kyi, the Nobel Peace Prize winner said that expanding women s power will bring greater peace and tolerance to the world. It is not the prerogative of men alone to bring light to this world. Women with their capacity for compassion and self-sacrifice, with their courage and perseverance have done much to dissipate the darkness of intolerance and hate , said Ms. Suu Kyi. In the afternoon session Ms. Ayako Yamaguchi, a Japanese delegate, launched a petition against beauty pageants. What right do men have to evaluate women in a few minutes? All women are beautiful. Beauty is something different for everyone , Ms Ayako Yamaguchi said. Beauty contests are used as trade and exploitation. The training is very vigorous but it is the organizers, not the women, who get the full benefit , said Ms Ranjana Bhargava. After the competition, the women become trapped and the abuse and the bad things begin. The women are tainted no one else will accept them . Q.21) The Women s World Conference was very important because (1) Ms Aung Suu Kyi has just been awarded the prestigious Nobel Peace Prize (2) Ms Aung Suu Kyi was taking part in the Conference (3) its main purpose was to change inequalities between men and women (4) it was to protest against beauty contests Q.22) Which of the following arguments of Ms Aung Suu Kyi is not true? (1) Women also can bring greater peace to the world. (2) Men cannot claim they have done more for peace. (3) Women have the capacity for compassion and sacrifice.

(4) Men have done nothing to dissipate ignorance. Q.23) The main emphasis in Ms. Ayako Yamaguchi s argument is (1) men have no right to judge women. (2) men should be given more time to evaluate women. (3) all women are beautiful in a way. (4) beauty contests are not necessary. Q.24) Beauty is something different for everyone . This statement means (1) beauty is certainly different from ugliness. (2) beautiful women do not mingle with other women. (3) beauty cannot be defined adequately. (4) each woman is beautiful. Q.25) Colourful start in the first sentence refers to (1) participants who were all beautiful (2) a lot of excitement and cheerfulness in the conference hall (3) absence of black coloured girls (4) flags of various colours outside the conference hall ANSWERS 1. (3) 2. (2) 3. (2) 4. (3) 5. (3) 6. (1) 7. (2)

8. (4) 9. (4) 10. (3) 11. (3) 12. (1) 13. (1) 14. (2) 15. (1) 16. (3) 17. (2) 18. (1) 19. (2) 20. (2) 21. (3) 22. (4) 23. (1) 24. (3) 25. (2) ENGLISH Direction (1 5) : In the following passage, the first and the last parts of the sentence are numbered 1 and 6. The rest of the sentence is split into four parts and named, P, Q, R and S. These four parts are not given in their proper order. Read the parts and find out which of the four combinations is correct. Then find the correct answer and blacken the appropriate rectangle in the Answer Sheet. Q.1) 1. Making ourselves

P. our language Q. part of growing into R. masters of S. is an important 6. full manhood or womanhood (1) PSRQ (2) SQPR (3) RPSQ (4) PRSQ Q.2) 1. The very first battle they fought P. and they had to fall back Q. cross the border R. was lost S. letting the enemy 6. an enter the country (1) RQSP (2) RPSQ (3) QRPS (4) QPRS Q.3) 1. A nation P. the material assets it possesses Q. is not made by R. and collective determination S. but by the will 6. of the people (1) PQRS (2) QPSR (3) RSPQ (4) SRPQ Q.4) 1. When the Governor P. the bell had rung

Q. justice should be immediately R. he ordered that S. found out why 6. done to the horse (1) RSPQ (2) PQSR (3) SPRQ (4) SQRP Q.5) 1. When you ponder over P. that the only hope Q. you will realize R. of world peace lies S. the question deeply 6. in the United Nations (1) QRSP (2) SPQR (3) SQPR (4) RSPQ Direction (6 15) : In the following passage, some of the words have been left out. First read the passage over and try to understand what it is about. Then fill in the blanks with the help of the alternatives given. Mark your answer in the Answer Sheet. The language problem is not solved by deciding the medium of instruction in the education institutions. The problem is 81. between State Governments still 82. At present, each State Government is 83 the process of 84 the 85 language as the medium for 86 purposes. Then the need for a stable language for 87 communication 88. Moreover, the Central Government shall 89 adopt a particular language for 90 own official work. Q.6)

(1) communication (2) information (3) intimation (4) decision Q.7) (1) stays (2) remains (3) resides (4) rests Q.8) (1) into (2) through (3) with (4) in Q.9) (1) adapting (2) imposing (3) thrusting (4) adopting Q.10) (1) local (2) mother (3) regional (4) foreign Q.11) (1) governmental (2) officious (3) administrative (4) religious Q.12) (1) inter-state (2) regional (3) international (4) intra-state Q.13) (1) come up (2) rises (3) crops up (4) persists Q.14) (1) having to (2) have to

(3) had been (4) have been Q.15) (1) its (2) their (3) our (4) his Direction (16 25) : In the following passage, you have two brief passage with 5 questions following each passage. Read the passages carefully and choose the best answer to each question out of the four alternatives and blacken the appropriate rectangles in the Answer-sheet. Passage - I The Law is an ass , declared Mr. Bumble in Oliver Twist , and it often seems he was right. For punishment does not always fit the crime and it rarely happens that a prison term reforms a criminal. Consider the following tow cases. The first one had happened in a village in Madural District. One Gopal One Gopal Yadhav, a hard-core criminal undergoing life sentence in the Madural Prison came out on ball for two days to perform the last rites of his mother. But he was rearrested on the same evening on the charges of murdering his neighbour s son the settle old scores. The second case too came to Madural Court recently. Deserted by her husband a drunkard, his griefstricken wife mixed rate poison in the food and gave it to her four children aged between 1 and 9 years. Before she could swallow the same food she was unable to bear the pritiable sight of her children writhing in pain. She rushed them to hospital where she disclosed everything. She was able to save the lives of the first three children, but the law of the country awarded her tow years imprisonment (later commuted to one year) on the charges of plotting to kill her children. Would you say women like here are a danger to the society? Would you

call them criminal? It is high time that we found other ways of registering our disapproval of wrong doing. To imprison the bad is expedient when they are dangerous. To imprison the mad and the merely sad, as we do, is not only unnecessary, it is uncivilized. Q.16) The writer says The Law is an ass because (1) it is as patient as an ass (2) it does not punish the criminals severely (3) punishments do not help to reform criminals (4) criminals can escape punishment. Q.17) Gopal Yadhav came out on ball (1) in order to murder his enemy (2) to cremate his mother (3) so that he could be rearrested (4) to see his four children undergoing treatment in the hospital Q.18) The mother in the second case cannot be called a criminal because she (1) rushed her children to the hospital (2) mixed an ineffective poison in the food (3) was able to save three out of four children (4) was deserted by her husband. Q.19) The writer argues that punishments for people like the woman in the second case are not necessary because they (1) don t commit crimes frequently (2) are less dangerous than other criminals (3) represent poor society (4) should not be clubbed with other criminals

Q.20) The main difference between the two case is (1) the first is about a man and the other is about a woman (2) the woman regrets what she has done, but not the man (3) the man is a lifer but the woman is not (4) the man and the woman belong to different communities Passage - II The United Nations Fourth World Women s Conference had a colourful start at Beijing on September 4 th . This is the century s most crucial conference which aimed at changing the status quo of women s lives characterized by inequality. In a preliminary session, Ms. Aung Suu Kyi, the Nobel Peace Prize winner said that expanding women s power will bring greater peace and tolerance to the world. It is not the prerogative of men alone to bring light to this world. Women with their capacity for compassion and self-sacrifice, with their courage and perseverance have done much to dissipate the darkness of intolerance and hate , said Ms. Suu Kyi. In the afternoon session Ms. Ayako Yamaguchi, a Japanese delegate, launched a petition against beauty pageants. What right do men have to evaluate women in a few minutes? All women are beautiful. Beauty is something different for everyone , Ms Ayako Yamaguchi said. Beauty contests are used as trade and exploitation. The training is very vigorous but it is the organizers, not the women, who get the full benefit , said Ms Ranjana Bhargava. After the competition, the women become trapped and the abuse and the bad things begin. The women are tainted no one else will accept them . Q.21) The Women s World Conference was very important because

(1) Ms Aung Suu Kyi has just been awarded the prestigious Nobel Peace Prize (2) Ms Aung Suu Kyi was taking part in the Conference (3) its main purpose was to change inequalities between men and women (4) it was to protest against beauty contests Q.22) Which of the following arguments of Ms Aung Suu Kyi is not true? (1) Women also can bring greater peace to the world. (2) Men cannot claim they have done more for peace. (3) Women have the capacity for compassion and sacrifice. (4) Men have done nothing to dissipate ignorance. Q.23) The main emphasis in Ms. Ayako Yamaguchi s argument is (1) men have no right to judge women. (2) men should be given more time to evaluate women. (3) all women are beautiful in a way. (4) beauty contests are not necessary. Q.24) Beauty is something different for everyone . This statement means (1) beauty is certainly different from ugliness. (2) beautiful women do not mingle with other women. (3) beauty cannot be defined adequately. (4) each woman is beautiful. Q.25) Colourful start in the first sentence refers to (1) participants who were all beautiful (2) a lot of excitement and cheerfulness in the conference hall (3) absence of black coloured girls (4) flags of various colours outside the conference hall

ANSWERS 1. (3) 2. (2) 3. (2) 4. (3) 5. (3) 6. (1) 7. (2) 8. (4) 9. (4) 10. (3) 11. (3) 12. (1) 13. (1) 14. (2) 15. (1) 16. (3) 17. (2) 18. (1) 19. (2) 20. (2) 21. (3) 22. (4) 23. (1) 24. (3)

25. (2) ///////////////////////////////////

1.

Industrial growth for the year 2009-10 has been estimated at (A) 85% (B) 104% (C) 123% (D) Below 5% Ans : (B) 2. Bank of Rajasthan is being merged with (A) HDFC Bank (B) ICICI Bank (C) AXIS Bank (D) None of the above Ans : (B) 3. Which States/UT have been placed at first three places in Gender Development Index list 2006 made by Government of India ? (A) Kerala, Chandigarh, Goa (B) Kerala, Goa, Chandigarh (C) Chandigarh, Goa, Kerala (D) Goa, Kerala, Chandigarh Ans : (A)

4. Jawaharlal Nehru National Solar Mission or Solar India has been launched to create an installed capacity of 20000 MW by the end of (A) 11th plan (B) 12th plan (C) 13th plan (D) 14th plan Ans : (C) 5. R. N. Malhotra Committee gave recommendations on the field of (A) Sick industries (B) Tax reforms (C) Insurance Sector (D) Banking Sector Ans : (C) 6. The minimum number of women needed for making a Working Group under DWCRA programme is (A) 20 (B) 15 (C) 10 (D) No minimum limit

Ans : (C) 7. According to the 2010 Quality of Life Index, India has been placed at the best country in the world to live. (A) 76th (B) 88th (C) 90th (D) 94th Ans : (B) 8. Mahila Samridhi Yojana was introduced on (A) October 2, 1992 (B) October 2, 1993 (C) October 2, 1995 (D) January 1, 1996 Ans : (B) 9. Who recommended the merger of RRBs in their respective Sponsor Banks ? (A) Narsimham Committee (B) C. Rangrajan Ex-Governor of RBI (C) Agriculture Credit Appraisal Committee in 1989 headed by Prof. A.M. Khusro (D) None of these Ans : (C) 10. The 20th member joining Navratna Club of public sector enterprises is (A) Coal India Ltd. (B) Rashtriya Ispat Nigam Ltd. (C) Oil India Ltd. (D) Power Grid Corporation of India Ans : (C) 11. The GDP growth target for 11th Plan (200712) was fixed originally at 9% but NDC has not reduced it to (A) 81% (B) 85% (C) 90% (D) 95% Ans : (A) 12. During 2009-10, Indias gems & jewellery exports registered a growth of (A) 3% (B) + 6% (C) + 16% (D) + 26% Ans : (C) 13. Rural Electrification Corporation was established in (A) 1979 (B) 1969 (C) 1989 (D) 1959

Ans : (B) 14. Who suggested to establish an Insurance Regulation Authority ? (A) Dandekar Committee (B) Malhotra Committee (C) Khusro Committee (D) Rangrajan Committee Ans : (B) 15. What is Dow Jones ? (A) Share market index of New York exchange market (B) Gold price Index of World Gold Council (C) Share market index of Mumbai Stock Exchange (D) None of these Ans : (A) 16. In which stock exchange, currency futures trading was first started ? (A) BSE (B) NSE (C) MCX-SX (D) All the above had the trading simultaneously Ans : (B) 17. For the sugarcane having recovery of 95%, the government has fixed Fair and Remunerative Prices (FRP) of sugarcane for the sugarcane year 2010-11 (i.e., October 2010 to September 2011) at (A) Rs. 13912 per quintal (B) Rs. 14232 per quintal (C) Rs. 14612 per quintal (D) Rs. 15612 per quintal Ans : (A) 18. Amochu Hydro Power Project is being set by NTPC in (A) Arunachal Pradesh (B) Sikkim (C) Bhutan (D) Nepal Ans : (C) 19. Which Indian city has the highest population ? (A) Kolkata (B) Mumbai (C) New Delhi (D) Chennai Ans : (B) 20. In which state, Punjab National Bank has installed the first Biometric ATM ? (A) Rajasthan (B) Delhi (C) Haryana

1.

(D) Uttar Pradesh Ans : (D) Deficit financing increases (A) Rate of money inflation (B) Rate of money deflation (C) Rate of devaluation (D) All of the above Ans : (A) 2. Which is not a monetary measure to control inflation ? (A) Soft loan policy (B) Hard credit policy (C) Tight the regulation of money issue (D) To reduce the quantity of money Ans : (A) 3. Which is the monetary measure to control inflation ? (A) Increase in taxation (B) Decrease in taxation (C) Soft credit policy (D) Hard credit policy Ans : (D) 4. Selling of securities in the open market by the central bank creates (A) Inflation (B) Deflation (C) Both of above (D) None of the above Ans : (B) 5. To control inflation the central bank should do (A) To sell government securities and to decrease bank rate (B) To sell government securities and to increase bank rate (C) To purchase government securities and to increase bank rate (D) To purchase government securities and to decrease bank rate Ans : (B)

6. To buy a book, from the market by giving money is called (A) Direct Exchange (B) Indirect Exchange (C) Direct and Indirect exchange (D) This is not any type of exchange Ans : (A) 7. Which of the following is not a direct tax ? (A) Income tax (B) Property tax (C) Sales tax

(D) House tax Ans : (C) 8. Ultimate burden of tax is known as (A) Impact (B) Incidence (C) Shifting of tax (D) None of the above Ans : (B) 9. When elasticity of demand and elasticity of supply are equal, the burden of tax ? (A) Lies more on buyer (B) Lies more on seller (C) Lies equally on buyer and seller (D) All of the above are false Ans : (C) 10. Which of the following economists suggested tax on expenditure ? (A) Dalton (B) Musgrave (C) Kaldor (D) Van Philips Ans : (A) 11. If interest payment is deducted from the fiscal deficit, then the balance is (A) Primary deficit (B) Budgetary deficit (C) Revenue deficit (D) Monetary deficit Ans : (A) 12. Which is the characteristic of a tax ? (A) Tax is a payment for government service (B) Tax is a compulsory payment (C) Tax is voluntary (D) To get benefit for a tax is compulsory Ans : (B) 13. Which government income is included in revenue budget ? (A) Tax-revenue (B) Non-tax-revenue (C) Both of above (D) None of the above Ans : (C) 14. Which is included in Capital budget ? (A) Income received from public borrowings (B) Income received from tax-sources (C) Income received from non-tax sources

(D) All of the above Ans : (A)

15. Which is not included in the principles of public expenditure as developed by Findley Shirras ? (A) Principle of Economy (B) Principle of Sanction (C) Principle of Elasticity (D) Principle of Surplus Ans : (C) 16. Which of the following is the largest significant factor of revenue expenditure of Central Government ? (A) Defence Expenditure (B) Subsidy (C) Interest Payment (D) Salary Ans : (C) 17. In comparison to revenue deficit; the size of fiscal deficit is always (A) Higher (B) Smaller (C) Similar (D) Uncertain Ans : (A) 18. What is CENVAT ? (A) Direct Tax (B) Indirect Tax (C) Development Planning (D) None of the above Ans : (B) 19. Where is Indian Diamond Institute (IDI) established ? (A) New Delhi (B) Mumbai (C) Surat (D) Jaipur Ans : (C) 20. What is the nature of income tax in India ? (A) Proportional (B) Progressive (C) Regressive (D) None of the above Ans : (B) 21. Which factor is not related to economic development ? (A) Continuous process (B) Increase in real national income

(C) Long run and continuous increase (D) Compulsory change in economic welfare Ans : (D) 22. The index of measuring economic development is (A) Increase in productive assets (B) National income (C) Per-capita income (D) Any of the above Ans : (D) 23. Process of economic development means (A) Economic change (B) Social change (C) Ethical, institutional and cultural change (D) All of the above Ans : (D) 24. At 2004-05 prices, the per-capita national income in India during 2009-10 was (A) Rs. 21005 (B) Rs. 33588 (C) Rs. 25241 (D) Rs. 20241 Ans : (B) 25. What is the main characteristic of a capitalist or free market economy ? (A) Individuals are the owners of factors of production (B) Profit is the main motive of carrying out various activities (C) Consumer freedom (D) All of the above Ans : (D)

2.

1. Indian Rupee has got its symbol as (A) D. Kumar Raju (B) Udai D. Raj (C) D. Udai Kumar (D) D. Udai Reddy Ans : (C) 2. Primary gold is a gold of (A) 20 carat

. This symbol has been designed by

(B) 22 carat (C) 23 carat (D) 24 carat Ans : (D) 3. First share market in India was established in (A) Delhi (B) Kolkata (C) Chennai (D) Mumbai Ans : (D)

4. Aam Admi Bima Yojana is an insurance scheme for rural landless households executed by the nodal agency (A) National Insurance Co. (B) State Government (C) LIC (D) Central Government Ans : (B) 5. Revenue Deficit as a per cent of GDP in Budget 2011-12 has been estimated at (A) 42% (B) 68% (C) 60% (D) 46% Ans : (D) 6. GST would be introduced from (A) January 1, 2012 (B) August 1, 2011 (C) April 1, 2012 (D) August 15, 2011 Ans : (C) 7. The rate of Minimum Alternate Tax (MAT) proposed in the budget 2011-12 is (A) 15% (B) 185% (C) 20% (D) 22% Ans : (B) 8. Which of the following is not a financial regulator ? (A) IRDA (B) AMFI (C) PFRDA (D) SEBI Ans : (B)

9. Inflation in India is measured on which of the following indexes/indicators ? (A) Cost of Living Index (B) Consumer Price Index (C) Wholesale Price Index (D) Gross Domestic Product Ans : (C) 10. As per 13th Finance Commission Recommendations during 2010-15, transfers to the states from the central tax pool are expected to be (A) Rs. 44000 crore (B) Rs. 164832 crore (C) Rs. 318581 crore (D) Rs. 107552 crore Ans : (C) 11. From which of the following taxes, the Central Government will get the maximum revenue in 2011-12 ? (A) Custom Duties (B) Income Tax (C) Excise Duties (D) Corporation Tax Ans : (D) 12. How many economists shared Nobel Prize in Economics for the year 2010 ? (A) 01 (B) 02 (C) 03 (D) 04 Ans : (C) 13. The target for exports in 2013-14 has been fixed at (A) $ 300 billion (B) $ 275 billion (C) $ 250 billion (D) $ 450 billion Ans : (D) 14. Global Hunger Index released by IFPRI in October 2010 places India at (A) 58th rank (B) 64th rank (C) 67th rank (D) 74th rank Ans : (C) 15. When was the first EPZ set-up in Kandla ? (A) 1965 (B) 1970

(C) 1975 (D) 1995 Ans : (A) 16. For rural development allocation Union Budget 2011-12 is (A) Rs. 16,000 crore (B) Rs. 46,000 crore (C) Rs. 56,000 crore (D) Rs. 87,800 crore Ans : (D) 17. What is true for the service tax in Union Budget 2011-12 ? (A) It is raised from 10 to 12% (B) It is left unchanged at 11% (C) It is left unchanged at 10% (D) It is reduced from 14% to 12% Ans : (C) 18. Which part of Indian rupee has been allotted in public expenditure for repaying interest on loans in 2011-12 budget proposals ? (A) 18 Paise (B) 21 Paise (C) 22 Paise (D) 23 Paise Ans : (A) 19. In Forbes-2000 list of the year 2010 how many Indian companies got the place ? (A) 16 (B) 56 (C) 37 (D) 27 Ans : (B) 20. As per the latest data available (for the year 2009). Infant Mortality Rate (per thousand live births) in India is (A) 72 (B) 68 (C) 60 (D) 50 Ans : (D) 3. Indian Economy Quiz Questions 2010 1. In which of the following states Indias largest tea is produced ? (A) Tamil Nadu (B) Assam (C) Karnataka (D) Kerala Answer: Assam

2. Bilateral trade between India and Europe is expected to touch level of $ billion by 2010. (A) 50 (B) 75 (C) 100 (D) 110 Answer: 100

3. How many members are there in APEC (Asia-Pacific Economic Co-operation) ? (A) 20 (B) 21 (C) 25 (D) 27 Answer: 21

4. When did we start our First Five Year Plan ? (A) August 15, 1947 (B) April 1, 1950 (C) April 1, 1951 (D) January 26, 1952 Answer: April 1, 1951

5. Which of the following states in India has produced maximum foodgrains ? (A) Punjab (B) Andhra Pradesh (C) Uttar Pradesh (D) Haryana Answer: Uttar Pradesh

6. Who has written the book My Country My Life ? (A) Indira Gandhi (B) Rajgopalachari (C) Baljeet Singh (D) Lal Krishna Advani Answer: Lal Krishna Advani

7. Who was the Chairman of 13th Finance Commission? (A) Vijay L. Kelkar (B) C. Rangrajan (C) Deepak Pareek (D) Indira Bhargava Answer: Vijay L. Kelkar

8. RBI holdsequity in National Housing Bank. (A) 50% (B) 60% (C) 75% (D) 100% Answer: 100%

9. The most active and sensitive part of the organised money market is the (A) Call money market (B) Treasury bill market (C) Commercial bill market (D) Gilt-edged market Answer: Call money market

10. Reserve Bank of India, established on 1st April, 1935, was originally constituted as a shareholders, institution with a share capital of (A) Rs. 5 crore (B) Rs. 7 crore (C) Rs. 9 crore (D) Rs. 10 crore Answer: Rs. 5 crore

11. Which one of the following countries has achieved growth rates exceeding 9% for the last two to three decades ? (A) India (B) China (C) USA (D) None of the above Answer: China

12. Which of the following is not a Tax ? (A) MAT (B) SAT (C) GST (D) VAT Answer: SAT

13. The Future of India book is written by (A) R. N. Malhotra (B) Jagdish Mukhi (C) M. S. Ahluwalia (D) Bimal Jalan Answer: Bimal Jalan

14. The National Stock Exchange functions from (A) Mumbai (B) Kolkata (C) New Delhi (D) Chennai Answer: Mumbai

15. For a study of the long-term growth of the economy we use (A) Personal Income (B) Disposable Income (C) Money GNP (D) Real GNP Answer: Real GNP

16. What is the purpose of the India Brand Equity Fund ? (A) To make Made in India a label of quality (B) To promote in bound tourism (C) To organise trade fairs (D) To provide venture capital to IT sector Answer: To make Made in India a label of quality

17. Under the Gadgil-Mukherjee Formula, which criterion gets highest weight ? (A) Population (B) Tax Effort and Fiscal Discipline (C) Income Distance (D) Area Answer: Income Distance

18. How much amount has been proposed for defence expenditure in the budget for 2011-12? (A) Rs. 164000 crore (B) Rs. 141703 crore (C) Rs. 157344 crore (D) Rs. 137344 crore Answer: Rs. 164000 crore

19. How many additional services have been brought under service tax in the budget for 2011-12 ? (A) 06 (B) 07 (C) 04 (D) 10 Answer: 04

20. How much custom duty is to be paid on 10 gram of gold as per 2010-11 budget ? (A) Rs. 100 (B) Rs. 200 (C) Rs. 300 (D) Rs. 500 Answer: Rs. 300 1. Demand curve of a firm under perfect competition is (A) Perfectly Inelastic (B) Perfectly Elastic (C) More Elastic (D) Less Elastic Ans : (B) 2. Which of the following equation is correct for perfect competition ? (A) AR = MR = Price MR"(B) AR MR (C) AR MR"(D) Price Ans : (A) 3. Which equation is correct under normal profit ? (A) AR = AC AC"(B) AR AC (C) AR (D) AR = AC = 0 Ans : (A) 4. The object of every producing firm is (A) To maximise production (B) To minimise cost (C) To maximise profit (D) None of the above Ans : (C) 5. Who determines price under perfect competition ? (A) Representative firm (B) Industry (C) Normal firm (D) Government Ans : (B)

6. Marshall's representative firm is a long-run average firm while optimum firm is a (A) Maximum cost firm (B) Minimum cost firm (C) Marginal cost firm (D) Average cost firm

Ans : (B) 7. In perfect competition average revenue curve is (A) Parallel to x-axis (B) Parallel to y-axis (C) Slopes down from left to right (D) Slopes upward from left to right Ans : (A) 8. In the long-run, perfect competitive firm gets (A) Only normal profit (B) Abnormal profit (C) Loss (D) Any of the above Ans : (A) 9. What minimum price is acceptable by a firm in the short-period ? (A) Equal to AC (B) Equal to AVC (C) Equal to AFC (D) Equal to TC Ans : (B) 10. Selling cost is a must in (A) Pure monopoly (B) Perfect competition (C) Imperfect competition (D) All of the above Ans : (C) 11. Which category of land is rent less land ? (A) First category of land (B) Second category of land (C) Third category of land (D) Marginal land Ans : (D) 12. Opportunity cast of a factor is known as (A) Transfer earning (B) Money cost (C) Present earning (D) None of the above Ans : (A) 13. Quasi Rent is (A) Equal to firm's total profit (B) More than firm's total profit (C) Less than firm's total profit (D) None of the above

Ans : (D) 14. Which of the following can not be accepted factor of production ? (A) Land (B) Labour (C) Light of sun (D) Capital Ans : (C) 15. Land is the only factor of production whose supply is ? (A) More Elastic (B) Perfectly Elastic (C) Perfectly Inelastic (D) Unitary Elastic Ans : (C) 16. Rent will be produced at that time when ? (A) Entire land is fertile (B) Elasticity of supply of land is perfectly elastic (C) Land is mobile (D) None of the above Ans : (D) 17. The Example of derived demand is (A) Demand for labour (B) Demand for tea (C) Demand for consumable commodity (D) Income demand Ans : (A) 18. Which of the following is an active factor of production ? (A) Land (B) Labour (C) Capital (D) Organisation Ans : (B) 19. Who developed the innovation theory of profit ? (A) Shumpeter (B) Haley (C) Prof. Knight (D) Karl Marx Ans : (A) 20. When the rate of money inflation increase then the prices of commodities ? (A) Increase (B) Decrease (C) Remain constant (D) Do not change

Ans : (A) 21. In common meaning, inflation is a condition in which (A) Price of commodity increases (B) Value of money decreases (C) Price of commodity and value of money both increase (D) Price of commodity increases and value of money decreases Ans : (D) 22. According to Keynes, real inflation takes place (A) Before the level of full employment (B) On the level of full employment (C) After the level of full employment (D) All above are true Ans : (C) 23. Which is the main reason of demand pull inflation ? (A) Increase in money supply (B) Increase in commercial expenditure (C) Increase in foreign demand for goods (D) All of the above Ans : (D) 24. The reason for cost push inflation is (A) Increase in money wages (B) Increase in rate of profit (C) Both of above (D) None of the above Ans : (C) 25. What is necessary to control cost push inflation ? (A) To impose control on wages of labour (B) To remove market imperfections (C) Both of the above (D) None of the above Ans : (C) 1. When was Consumer Protection Act enacted ? (A) 1980 (B) 1985 (C) 1986 (D) 1991 Ans : (C) 2. When was Planning Commission formed ? (A) March 15, 1950 (B) March 15, 1951 (C) August 15, 1947 (D) January 26, 1950 Ans : (A)

3. Planning Commission is (A) A statutory body (B) A consultative body (C) Both of above (D) None of these Ans : (B)

4. Who is the Chairman of Planning Commission ? (A) President (B) Prime Minister (C) Finance Minister (D) Home Minister Ans : (B) 5. Who is the Deputy Chairman of Planning Commission ? (A) Montek Singh Ahluwalia (B) C. Rangrajan (C) K. C. Pant (D) None of the above Ans : (A)

6. Who was the first Chairman of Planning Commission ? (A) Jawahar Lal Nehru (B) Raja Gopala Chari (C) Mahatma Gandhi (D) None of the above Ans : (A) 7. Which of the following is the function of Planning Commission ? (A) To estimate various resources of the country (B) To prepare plan for the balanced and effective use of resources (C) To review plan (D) All of the above Ans : (D) 8. When was National Development Council formed ? (A) 15th March, 1950 (B) 6th August, 1951 (C) 6th August, 1952 (D) 26th January, 1950 Ans : (C) 9. Who becomes the Chairman of National Development Council ? (A) President (B) Prime Minister (C) Finance Minister

(D) Minister of Planning Ans : (B) 10. Final shape is given to plan by (A) Planning Commission (B) Finance Minister (C) National Development Council (D) None of the above Ans : (C) 11. When was first five year plan introduced ? (A) 1st April, 1950 (B) 1st April, 1951 (C) 1st April, 1952 (D) 31st March, 1950 Ans : (B)

12. When was 10th five year plan introduced ? (A) 1st April, 2002 (B) 1st April, 2003 (C) 1st April, 2004 (D) None of the above Ans : (A) 13. Eleventh Five Year Plan Size (Centre Plus States) as percentage of GDP is (A) 946% (B) 1354% (C) 1525% (D) 1476% Ans : (B) 14. What is the period of 11th five year plan ? (A) 2006-2011 (B) 2007-2012 (C) 2008-2013 (D) 2009-2014 Ans : (B) 15. What is the revised target fixed for annual rate of growth of GDP during 11th five year plan ? (A) 9% (B) 81% (C) 10% (D) 105% Ans : (B) 16. For which year the latest census is being conducted in India ? (A) 2001 (B) 2010

(C) 2012 (D) 2011 Ans : (D) 17. How many censuses (including the 2011 census) have been carried out since independence ? (A) 05 (B) 06 (C) 07 (D) 08 Ans : (C) 18. At what interval of years population census is conducted in India ? (A) 05 years (B) 06 years (C) 10 years (D) 15 years Ans : (C) 19. When was first human development report of India issued ? (A) March 2000 (B) April 2002 (C) June 2002 (D) April 2001 Ans : (B) 20. In which religion largest population growth was noticed during 1991-2001 ? (A) Hindu (B) Muslim (C) Christian (D) Sikhs Ans : (B) 21. According to population census 2001, population of India as on March 1, 2001 was (A) 10287 crore (B) 10020 crore (C) 99 crore (D) 98 crore Ans : (A) 22. In which of the following states the percentage of scheduled caste population is maximum as per final figures of population census 2001 ? (A) Uttar Pradesh (B) Madhya Pradesh (C) Kerala (D) Punjab Ans : (D) 23. In which state the literacy rate of women is highest ? (A) Tamil Nadu

(B) Kerala (C) Mizoram (D) West Bengal Ans : (B) 24. According to population census 2001, which of the following states shows largest growth of population during 1991-2001 ? (A) M.P. (B) Manipur (C) Rajasthan (D) Nagaland Ans : (D) 25. According to population census 2001, what is the number of women per 1000 men in India ? (A) 939 (B) 959 (C) 933 (D) 927 Ans : (C)

1. An Enquiry into the Nature and Causes of Wealth of Nations is the book of economist (A) Adam Smith (B) Marshall (C) Robbins (D) None of above Ans : (A) 2. Economics is the Science of Wealth who gave this definition ? (A) J. K. Mehta (B) Marshall (C) Adam Smith (D) Robbins Ans : (C) 3. Economics is what economists do. It has been supported by (A) Richard Jones (B) Comte (C) Gunnar Myrdal (D) All of the above Ans : (D) 4. Human Welfare is the subject of Economics. This statement is associated with the name of which of the economists ? (A) Marshall (B) Pigou

(C) Penson (D) All of the above Ans : (D) 5. Who has given scarcity definition of economics ? (A) Adam Smith (B) Marshall (C) Robbins (D) Robertson Ans : (C)

6. Economics is a science the basis of this statement is (A) Relation between cause and effect (B) Use of deductive method and inductive method for the formations of laws (C) Experiments (D) All of the above Ans : (D) 7. Characteristics of economic laws are (A) Mere statements of economic tendencies (B) Less certain (C) Hypothetical (D) All of the above Ans : (D) 8. Which theory is generally included under micro economics ? (A) Price Theory (B) Income Theory (C) Employment Theory (D) None of the above Ans : (A) 9. Whose opinions have revolutionised the scope of macro economics ? (A) Adam Smith (B) J.B. Say (C) J.M. Keynes (D) All of the above Ans : (C)

10. Which of the following is an economic activity ? (A) Teaching of a teacher in the school (B) To teach son at home (C) To serve her child by mother (D) To play football by a student Ans : (A) 11. Passive factor of production is (A) Only land (B) Only capital (C) Both land and capital (D) Neither land nor capital Ans : (C) 12. Under law of demand (A) Price of commodity is an independent variable (B) Quantity demanded is a dependent variable (C) Reciprocal relationship is found between price and quantity demanded (D) All of the above Ans : (D) 13. For inferior commodities, income effect is (A) Zero (B) Negative (C) Infinite (D) Positive Ans : (B) 14. When total utility becomes maximum, then marginal utility will be (A) Minimum (B) Average (C) Zero (D) Negative Ans : (C) 15. Utility means (A) Power to satisfy a want (B) Usefulness (C) Willingness of a person (D) Harmfulness

Ans : (A) 16. Marginal utility is equal to average utility at that time when average utility is (A) Increasing (B) Maximum (C) Falling (D) Minimum Ans : (B) 17. At point of satiety, marginal utility is (A) Zero (B) Positive (C) Maximum (D) Negative Ans : (A) 18. Which of the following is the second law of Gossen ? (A) Law of equi-marginal utility (B) Law of equi-product (C) Theory of indifference curve (D) Law of diminishing marginal utility Ans : (A) 19. Total utility of a commodity is measured by which price of that commodity ? (A) Value in use (B) Value in exchange (C) Both of above (D) None of above Ans : (A) 20. According to Marshall, the basis of consumer surplus is (A) Law of diminishing marginal utility (B) Law of equi-marginal utility (C) Law of proportions (D) All of the above Ans : (A) 21. Which commodity can be called as Giffen commodity ? (A) Inferior commodity (B) Superior commodity

(C) Any of above (D) None of the above Ans : (A) 22. The price of a commodity is determined where supply"(A) Demand supply (B) Demand (C) Demand = supply (D) None of the above Ans : (C) 23. In perfect competition, the demand for a commodity is (A) Elastic (B) Perfectly elastic (C) Inelastic (D) Perfectly inelastic Ans : (B) 24. Which condition is not found in perfect competition ? (A) Many buyers and sellers (B) Perfect knowledge about market conditions (C) Product differentiation (D) Perfect factor-mobility Ans : (C) 25. In which market, a firm cannot determine price ? (A) Perfect competition (B) Monopoly (C) Monopolistic competition (D) Oligopoly Ans : (A) 1. Which is not the characteristic of socialist or planned economy ? (A) Government is the owner of resources (B) Production decisions are determined by the government (C) Profit motive (D) None of the above Ans : (C) 2. The main feature of mixed economy is (A) Combination of free market economy and centrally planned economy (B) Production is carried out by private individuals and government

(C) Both of the above (D) None of the above Ans : (C) 3. What per cent of GDP at 2004-05 prices was contributed by agriculture and related sectors in 2009-10 ? (A) 146% (B) 176% (C) 190% (D) 198% Ans : (A) 4. According to World Development Report 2010, Low income economies are those whose percapita gross national income is (A) $ 975 or less than this (B) Less than $ 11905 (C) Less than $ 4526 (D) None of the above Ans : (A) 5. Which of the following country's economy is known as high income economy ? (A) America (B) U.K. (C) Singapore (D) All of the above Ans : (D)

6. How much percentage of working population in India depends on agriculture as per economic survey 2009-10 ? (A) 52% (B) 70% (C) 73% (D) 75% Ans : (A) 7. Which policy of economic system has been adopted by India for its economic development ? (A) Capitalist Economy (B) Mixed Economy (C) Socialist Economy (D) Centralised Planned Economy Ans : (B) 8. A positive aspect of economic development after independence is (A) Creation of a large industrial base (B) Proportion of population living below poverty line has declined

(C) Self sufficient in the production of food grains (D) All of the above Ans : (D) 9. The negative aspect of economic development after independence is (A) Problems of poverty and unemployment have not been eliminated (B) Industrialisation did not take place as expected (C) Many public sector enterprises started making losses (D) All of the above Ans : (D) 10. Reasons for the privatisation and liberalisation of public sector after 1991 are (A) Corruption (B) Lack of efficiency in work (C) Ineffective management (D) All of the above Ans : (D) 11. The main strategy adopted in the new economic policy of 1991 is (A) Liberalisation (B) Privatisation (C) Globalisation (D) All of the above Ans : (D) 12. How many industries have been reserved for government sector at present ? (A) 03 (B) 04 (C) 05 (D) 06 Ans : (A) 13. How many industries are kept for compulsory licensing at present ? (A) 03 (B) 06 (C) 05 (D) 07 Ans : (C) 14. Agriculture sector registered 16% growth in 2008-09 and what is estimated for 2009-10 ? (A) 6% (B) 43% (C) 02% (D) 09% Ans : (C)

15. When was World Trade Organisation set up by the member countries of the united Nations to promote trade among countries ? (A) 1994 (B) 1995 (C) 1999 (D) 2005 Ans : (B) 16. Where is the Headquarter of WTO located ? (A) Newyork (B) Washington (C) Peris (D) Geneva Ans : (D) 17. The main objective of WTO is (A) Import and export restrictions to be abolished (B) Instead of bilateral agreements, WTO expects the countries to follow multilateral agreements (C) To regulate international trade of both goods and services (D) All of the above Ans : (D) 18. The largest source of National Income in India is (A) Agriculture Sector (B) Industry Sector (C) Service Sector (D) Trade Sector Ans : (C) 19. In which state the percentage of people living below poverty line is largest ? (A) Orissa (B) Bihar (C) M.P. (D) U.P. Ans : (A) 20. Which of the following programmes is not for rural poverty eradication ? (A) SGSY (B) SJSRY (C) PMGY (D) All above programmes are for rural poverty eradication Ans : (B) 21. The cause of rise in prices of goods, in the market is (A) Rise in money supply (B) Increase in cost of production

(C) Increase in stocks of goods and blackmarketing (D) All of the above Ans : (D) 22. Changes in the prices of goods in India is measured by which of the following index numbers ? (A) Wholesale Price Index (WPI) (B) Consumer Price Index (CPI) (C) Both of above (D) None of these Ans : (C) 23. Which year has been currently used as the base year to estimate national income in India by CSO ? (A) 2004-05 (B) 1993-94 (C) 2001-02 (D) 1999-2000 Ans : (A) 24. Which of the following remedies are adopted to control price rise in the economy ? (A) Monetary measures (B) Fiscal measures (C) Administered price mechanism (D) All of the above Ans : (D) 25. The term Evergreen Revolution has been used for increasing agricultural production in India by (A) Norman Barlogue (B) Raj Krishna (C) M. S. Swaminathan (D) R. K. V. Rao Ans : (C)

y y y y

1.India has ? Socialistic economy Gandhian economy Answer: Mixed economy Free economy 2.The most important source in India has been? Answer: Household savings

of

capital

formation

y y y

y y y y

y y y y

y y y y

y y y y

Public sector savings Government revenue surpluses Corporate savings 3.In India, the Public Sector is most dominant in? transport steel production Answer: commercial banking organised term lending financial institutions. 4.Goas economy is mainly based on ? tourism Answer: export of ores agriculture None of these 5.Indias wage policy is based on ? Answer: Cost Of Living Standard of living productivity None of these 6.One of the reasons for Indias occupational structure remaining more or less the same over the years has been that Productivity in agriculture has been high enough to induce people to stay with agriculture Answer: People are largely unaware of the significance of transition from agriculture to industry for economic development. Investment pattern has been directed towards capital intensive industries. ceilings-on land holdings have enabled more people to own land and hence their preference to stay with agriculture 7. Which of the following is correct regarding the Gross Domestic Savings in India? Answer: Contribution of Household sector is the largest Contribution of Government sector is the largest Contribution of Corporate sector is the largest None of these.

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y y y y

y y y y

y y y y

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8.Which of the following governmental steps has proved relatively effective in controlling the double digit rate of inflation in the Indian economy during recent years Answer: Containing budgetary deficits and unproductive expenditure Streamlined public distribution system Enhanced rate of production of all consumer goods Pursuing an export -oriented strategy 9.The modern economy is not characterised by? capital intensive mode of production development of money economy production for market Answer: self-sufficient village system 10.One of the problems in calculating the national income in India correctly is? under employment inflation Answer: non -monetised consumption low savings 11.The main source of Indias national income is? Industry Answer: Agriculture Forestry None of these 12.Which of the following are the main causes of slow rate of growth of per capita income in India? I. High capital output ratio 2. High rate of growth of population 3. High rate of capital formation 4. High level of fiscal deficits Answer: 1,2 2,3,4 1,4 All of the Above 13. Among Indian Economists who had done pioneering work on National Income?

y y y y

y y y y

y y y y

y y y y

P. N. Dhar Jagdish Bhagwati Answer: V. K. R. V. Rao Prof. Shenoi 14.Which of the following is not a method of estimating national income? Income method Value added method Expenditure method Answer: Export import method 15. In our country, which of the following affects poverty line the most? Level of prices Production quantum Answer: Per capita income Quantum of gold reserve 16.To know whether the rich are getting richer and the poor getting poorer, it is necessary to compare The availability of food grains among two sets of people, one rich and the other poor, over different periods of time Answer: The distribution of income of an identical set of income recipients in different periods of time The wholesale price index over different periods of time for different regions The distribution of income of different sets of income recipients at a point of time 17.The largest revenue in India is obtained from? Sales Tax Direct Taxes Answer: Excise Duties None of these 18.Which of the following is not true about vote onaccount? Answer: It is a budget presented in the Parliament to cover the deficit left by the last budget.

y y y y

y y y y

y y y y

y y y y

y y y y

y y y

It does not allow the Government to set for the economic policies of the new plan which starts from April 1. It prevents the Government from imposing fresh taxes or withdrawing old one. This allows the Government to withdraw an amount for a period with the consent of Parliament. 19.Fresh evaluation of every item of expenditure from the very beginning of each financial year is called ? Fresh Budgeting Deficit Budgeting Performance Budgeting Answer: Zero-based Budgeting 20. Government imposes taxes to ? check the accumulation of wealth among the rich Answer: Run the machinery of state uplift weaker sections None of these 21.An ad valorem duty is a tax on the basis of Answer: the price of a commodity the value added the advertisement expenditure the unit of the commodity 22. The budget is presented to the Parliament on Answer: the last day of February 15th March the last day of March 1st April 23.The income tax in India is indirect and progressive direct and proportional Answer: direct and progressive indirect and proportional 24. Fiscal Policy is connected with Issue of currency exports and imports Answer: public revenue and expenditure

y y y y

None of these 25.Which of the following is not a direct tax? Wealth Tax Income Tax Estate Duty Answer: Sales Tax