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10 MCQ's on Indian Economy GK 07/10/2022

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  •  1) Which of the following fertilizers contains the highest proportion of nitrogen among the options given?
    • [A] Calcium ammonium nitrate
    • [B] Ammonium nitrate
    • [C] Calcium nitrate
    • [D] Urea
    Answer- [D] Urea

  • 2) In the context of financial markets, an arrangement to swap floating rate payments for fixed rate payments (or vice versa) at regular intervals over a predetermined time on a given principle amount is referred to as ?
    • [A] Currency Swap
    • [B] Interest Rate swap
    • [C] Rolling Settlement
    • [D] Arbitration
    Answer - [B] Interest Rate swap

  • 3) The process of converting a non-profit organization into a profit-making firm is known as:
    • [A] Dematerialization
    • [B] Rematerialization
    • [C] Demutualization
    • [D] Decentralization
    Answer - [D] Gautama

  • 4) In which year was the Unorganized Workers Social Security Act passed?
    • [A] 2006
    • [B] 2008
    • [C] 2010
    • [D] 2012
    Answer - [B] 2008

  • 5) How can we describe a situation in which the government bridges the gap between public expenditure and revenue by printing new currency?
    • [A] Fiscal Deficit
    • [B] Fiscal Stimulation
    • [C] Deficit Financing
    • [D] Differential accumulation
    Answer - [C] Deficit Financing

  • 6) Which of the following requires approval to draw funds from the Consolidated Fund of India?
    • [A] President
    • [B] Parliament
    • [C] Council of Ministers
    • [D] All the above
    Answer -     [B] Parliament

  • 7) What are the Anti-Avoidance General Rules?
    • [A] GAAR is a set of rules aimed at curbing aggressive tax planning
    • [B] GAAR is a set of rules aimed at curbing money laundering by Indians to Foreign countries
    • [C] GAAR is a set of rules aimed at regulating investments by Indians in foreign Countries
    • [D] GAAR is a set of rules aimed at regulating investments by Foreigners in India
    Answer - [A] GAAR is a set of rules aimed at curbing aggressive tax planning

  • 8) Which of the following organizations purchases, distributes, exports, and imports?
    • [A] FCI
    • [B] NAFED
    • [C] NABARD
    • [D] All of them
    Answer - [B] NAFED

  • 09) Which public sector company released the world's first green masala bond?
    • [A] ONGC
    • [B] NTPC
    • [C] IOCL
    • [D] CIL
    Answer - [B] NTPC

  • 10) Recently, the RBI opened subscriptions for the Sovereign Gold Bond (SGB) Scheme 2018-19 Series V. Consider the following claims about the Gold Bond Scheme.

    (i) The bonds can be used as collateral for loans
    (ii) Capital gain arising out of redemption of sovereign gold bond is tax exempt
    (iii) While the minimum permissible investment is 1 gram of gold, maximum permissible investment is 500 grams
Which of the above statements is/are correct?
    • [A] (i) & (ii) Only
    • [B] (i) & (iii) Only
    • [C] (ii) & (iii) Only
    • [D] (i), (ii) & (iii) 
    Answer - [A] (i) & (ii) Only
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