General Knowledge : Economics QUESTIONS AND ANSWERS :: part7 : 1 to 5
Following General Knowledge Multiple choice objective type questions and answers will help you in TRB, SSC and UPSC 2024 examinations :
1.Given below are two statements labelled as Assertion (A) and Reason (R) in the context of the statements, which of the following is correct ?Assertion (A) : India has been having large trade deficit. Reason (R) : The value of exports has declined in recent years. |
| Both A and R are true and R is the correct explanation of A. |
| Both A and R are true but R is the not the correct explanation of A. |
| A is true but R is false. |
| A is false but R is true. |
2.Devaluation means |
| converting rupees into gold |
| lowering of the value of one currency in comparison of some foreign currency |
| making rupee dearer in comparison to some foreign currency |
| None of these |
3.The Econimic and Social Commission for Asia and Pacific (ESCAP) is located at |
| Kuala Lumpur |
| Bangkok |
| Manila |
| Singapore |
4.Thesoft loan affiliate of the World Bank is |
| Asian Development Bank |
| International Monetary Fund |
| International Development Association |
| International Bank for Reconstruction and Development |
5.Which of the following is not true about vote-on-account ? |
| It is a budget presented in the Parliament to cover the deficit left by the last budget. |
| 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. |
More Economics QUESTIONS AND ANSWERS available in next pages
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