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Socio-economic Quiz for Federal Bank

1. The demand for goods and services i.e. GDP in the economy comes from which of the following components:

(i) Households

(ii) Private investment

(iii) Government

(iv) Exports

Select the correct answer using the code given below:

1) (i) & (ii) only

2) (ii) & (iii) only

3) (i), (ii) & (iii) only

4) All of the above

5) None of the above

2. Which of the following factors may affect a country’s potential GDP growth:

(i) Physical capital

(ii) Human Capital

(iii) Labour

(iv) Total factor productivity

Select the correct answer using the code given below:

1) (i) only

2) (i) & (iv) only

3) (i), (ii) & (iii) only

4) All of the above

5) None of the above

3. Match the following indices with their publishers: 

Index

 (i) WPI

 (ii) CPI combined

 (iii) GDP Deflator 

(iv) CPI-Industrial Workers 

Published by

1. Labour Bureau

 2. Office of Economic Advisor

3. CSO

Select the correct answer using the code given below:

1) (i)-2, (ii)- 3, (iii)–3, (iv)-1

2) (i)-1, (ii)- 1, (iii)-2, (iv) -1

3) (i)-1, (ii)-3, (iii)-3, (iv)-2

4) (i)-1, (ii)-2, (iii)-3, (iv)-3

5)  (i)-3, (ii)-2, (iii)-3, (iv)-1

4. Which of the following statements are correct about CPI rural, CPI urban and CPI combined index?

(i) Price data is collected by NSSO

(ii) Price data is published by CSO

(iii) The base year is 2011-12

(iv) It is released for all India and for states and UTs separately 

Select the correct answer using the code given below:

1) (ii), (iii) & (iv) only

2) (i), (ii) & (iii) only

3) (ii) & (iii) only

4) All of the above

5) None of the above

5. Which of the following exchange  rate system is being followed in India?

1) Fixed Exchange Rate with gold standard

2) Fixed but adjustable

3) Managed/ Dirt Float

4) Free Float

5) None of these

6. The Indian exchange rate system  is termed as “managed float” because:

1) RBI fixes the exchange rate

2) RBI fixes the exchange rate and keeps adjusting depending on the economic situation

3) RBI participates in the market to keep the exchange rate in a particular range and to prevent volatility

4) None of the above

5) All the above

7. Which of the following are the objectives of the “New Urea Policy 2015”:

(i) Maximizing indigenous urea production

(ii) Promoting energy efficiency and reducing the carbon-footprint 

(iii) Reducing the subsidy burden of the government

(iv) Adopting best technology in the world and become globally more competitive

Select the correct answer using the code given below: 

1) (i) & (ii) only

2) (i), (ii) & (iii) only

3) (ii), (iii) & (iv) only

4) All of the above

5) None of the above

8. Consider the following statements regarding the National Agricultural Market (NAM) launched in April 2016:

(i) It is an online platform with physical markets at the backend

(ii) It will integrate the APMC mandis of various states

(iii) NAM will increase the choice for farmers to sell his produce

(iv) Small Farmers Agribusiness Consortium (SFAC) is acting as the nodal agency for NAM 

Select the correct answer using the code given below:

1) (i) & (iii) only

2) (i), (ii) & (iii) only

3) (i) & (iv) only

4) All of the above

5) None of these

9. The government is launching the “Pradhan Mantri Fasal Bima Yojana” from Kharif season 2016. In light of the above which of the following crop insurance schemes has been discontinued from April 2016.

(i) Weather Based Crop Insurance Scheme (WBCIS)

(ii) National Agricultural Insurance Scheme (NAIS)

(iii) Modified Agricultural Insurance Scheme (MNAIS)

 (iv) Coconut Palm Insurance Scheme

Select the correct answer using the code given below:

1) (i) & (ii) only

2) (ii) & (iii) only

3) (i) & (iv) only

4) All of the above

5) None of these

10. Consider the following statements regarding the “Kisan Vikas Patra” reintroduced by the government in 2014

(i) It is a savings scheme

(ii) No maximum limit on investment

(iii) Only farmers can purchase

Select the correct answer using the code given below:

1) (i) only

2) (i) & (ii) only

3) (i) & (iii) only

4) All of the above

5) None of these

11. Consider the following statements regarding the recently launched MUDRA Bank:

(i) It will provide direct lending to small entrepreneurs

(ii) MUDRA loans will be available for manufacturing, trading and service activities 

Select the correct answer using the code given below:

1) (i) only

2) (ii) only

3) Both (i) & (ii)

4) Neither (i) nor (ii)

5) Either I or II

Answers:

1. 4
2. 4
3. 1
4. 4
5. 3
6. 3
7. 4
8. 4
9. 2
10. 2
11. 2