Top 550+ Solved Indian Economy MCQ Questions Answer
Q. Since March 1973, the world, more or less, had a:
a. free floating exchange rate system
b. fixed exchange rate system
c. managed floating exchange rate system
d. adjustable peg system
Q. Net National gains from trade is measurable function of:
a. volume of trade
b. relative prices in two countries
c. factor cost of commodities traded
d. volume of trade credited and change in prices caused by trade
Q. Outward looking development policies are not associated with:
a. open system of communications
b. free movement of capital
c. multinational enterprises
d. learning by doing
Q. Import quota is :
a. tariff
b. non-tariff trade barrier
c. concession
d. international obligation
Q. Balance of payments must always balance because:
a. trade deficit is cancelled by invisible credits
b. import always equals exports
c. of an accounting connection
d. what a country gets, it must either pay or save
Q. Trade Policy measures for correction of balance of paymentsdisequilibrium include of export promotion:
a. export promotion
b. import control
c. both a & b
d. import substitution
Q. In calculating India’s balance of payments position, we must:
a. omit invisible items
b. omit exports and imports of gold
c. include expenditure by foreign tourists as imports
d. include long term loans abroad as debit
Q. Each member of IMF is assigned a quota expressed in:
a. member country’s currency
b. dollar
c. special drawing rights
d. none of the above
Q. The international monetary system that existed from 1947 to 1971 isgenerally known as:
a. par value system
b. pegged exchange rate system
c. bothe a & b
d. fewer rupees in the spot market than in the home market
Q. The fundamental cause for the collapse of the Bretton woods system was:
a. liquidity problem
b. the adjustment problem
c. the confidence problem
d. all of the above
Q. The direction of trade indicates:
a. the nature of goods that are exported and imported
b. the value of goods that are exported and imported
c. the countries to which commodities are exported and the countries from which commodities are imported
d. the terms at which exports exchanges for imports school of distance education indian economy
Q. The important component of foreign trade:
a. terms of trade, balance of trade and balance of payment
b. the volume of trade, the composition of trade and direction of trade
c. terms of trade and volume of trade
d. terms of trade and direction of trade
Q. The balance of payment in unfavorable:
a. when value of export is greater than import
b. when value of import is greater than export
c. when value of imports and exports are equal
d. only when there is much greater difference between exports and imports
Q. In which of the plan period, the Balance of payment position had surplus:
a. first plan
b. second plan
c. third plan
d. fifth plan