Economics Quiz for RRB NTPC 2017

Ques 1. Which of the following expenditure is not included in Development Expenditure of Central Government?
a. expenditure on economic services
b. defence expenditure
c. grant to states
d. expenditure on social and community services

Ques 2. What do you mean by a gilt-edged market?
a. market of guns
b. market of pure metals
c. bullion market
d. market of government securities

Ques 3. Which of the following is not included in Non-development Expenditure?
a. defence
b. irrigation
c. subsidies
d. interest payments
Ques 4. In which year did India change over the decimal coinage system?
a. April 1957
b. April 1958
c. April 1950
d. April 1959

Ques 5. Gross domestic capital formation is
a. expenditure incurred on physical assets only
b. production exceeding demand
c. net addition to stock after depreciation
d. flow of expenditure devoted to increased or maintaining of the capital stock

Ques 6. ARDC was merged into NABARD on
a. July 12, 1982
b. July 12, 1984
c. July 12, 1986
d. July 12, 1988

Ques 7. If cash reserve rate is lowered by RBI, credit creation will be
a. neutral
b. decreased
c. increased
d. None of the above

Ques 8. The currency convertibility concept was originated in
a. Taylors Agreement
b. Bretton Woods Agreement
c. Wells Agreement
d. None of the above

Ques 9. How many banks were nationalised in April 1980?
a. 12 
b. 10
c. 8
d. 6 

Ques 10. When was Aam Admi Bima Yojana launched?
a. March 5, 2009
b. November 14, 2011
c. March 10, 2008
d. October 2, 2007

Ques 11. The central co-operative banks are directly in associated with
a. land development banks
b. central government
c. gramin bank
d. state co-operative banks

Ques 12. On which of the following activities is excise duty levied on?
a. Production of goods
b. Sale of goods
c. Export of goods
d. Import of goods

Ques 13. Which of the following is not a national debt?
a. Life Insurance Policies
b. National Saving Certificate
c. Long-term Government Bonds
d. Provident Fund

Ques 14. During Deficit financing, the government borrows money from 
a. businessmen
b. local bodies
c. IMF
d. RBI

Ques 15. Which of the following structures is followed by corporative credit societies?
a. four-tier structure
b. two-tier structure
c. three-tier structure
d. five-tier structure

Ques 16. In which year was Reserve Bank of India nationalised?
a. 1960
b. 1949
c. 1963
d.  1948

Ques 17. In which of the following currencies was Resurgent Bonds were not introduced?
a. US dollar, 
b. Pound Sterling and
c. Japanese Yen
d. Deutsche Mark

Ques 18. Fiscal Policy of India is generally formulated by
a. Ministry of Finance
b. Finance Commission
c. Planning Commission
d. The Reserve Bank of India

Ques 19. When was the paper currency started for the first time in India?
a. 1542
b. 1601
c. 1861
d. 1880

Ques 20. Which of the following is not a part of the machinery that settles industrial disputes?
a. Wage Court
b. Works Committee
c. Conciliation officers
d. Board of Conciliation

Answer Key

1. b. defence expenditure
2. d. market of government securities
3. b. irrigation
4. a. April 1957
5. c. net addition to stock after depreciation
6. a. July 12, 1982
7. c. increased
8. b. Bretton Woods Agreement
9. d. 6 
10. d. October 2, 2007
11. d. state co-operative banks
12. a. Production of goods
13. b. National Saving Certificate
14. d. RBI
15. c. three-tier structure
16. b. 1949
17. c. Japanese Yen
18. a. Ministry of Finance
19. c. 1861
20. a. Wage Court
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