MCQ on India’s Economy with Answers 2012

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1.India has ?

  • Socialistic economy
  • Gandhian economy
  • Answer: Mixed economy
  • Free economy

2.The most important source of capital formation in India has been?

  • Answer: Household savings
  • Public sector savings
  • Government revenue surpluses
  • Corporate savings

3.In India, the Public Sector is most dominant in?

  • transport
  • steel production
  • Answer: commercial banking
  • organised term lending financial institutions.

4.Goa’s economy is mainly based on ?

  • tourism
  • Answer: export of ores
  • agriculture
  • None of these

5.India’s wage policy is based on ?

  • Answer: Cost Of Living
  • Standard of living
  • productivity
  • None of these

6.One of the reasons for India’s occupational structure remaining more or less the same over the years has been that

  • Productivity in agriculture has been high enough to induce people to stay with agriculture
  • Answer: People are largely unaware of the significance of transition from agriculture to industry for economic development.
  • Investment pattern has been directed towards capital intensive industries.
  • ceilings-on land holdings have enabled more people to own land and hence their preference to stay with agriculture

7. Which of the following is correct regarding the Gross Domestic Savings in India?

  • Answer: Contribution of Household sector is the largest
  • Contribution of Government sector is the largest
  • Contribution of Corporate sector is the largest
  • None of these.

8.Which of the following governmental steps has proved relatively effective in controlling the double digit rate of inflation in the Indian economy during recent years

  • Answer: Containing budgetary deficits and unproductive expenditure
  • Streamlined public distribution system
  • Enhanced rate of production of all consumer goods
  • Pursuing an export -oriented strategy

9.The modern economy is not characterised by?

  • capital intensive mode of production
  • development of money economy
  • production for market
  • Answer: self-sufficient village system

10.One of the problems in calculating the national income in India correctly is?

  • under – employment
  • inflation
  • Answer: non -monetised consumption
  • low savings

11.The main source of India’s national income is?

  • Industry
  • Answer: Agriculture
  • Forestry
  • None of these

12.Which of the following are the main causes of slow rate of growth of per capita income in India?
I. High capital – output ratio
2. High rate of growth of population
3. High rate of capital formation
4. High level of fiscal deficits

  • Answer: 1,2
  • 2,3,4
  • 1,4
  • All of the Above

13. Among Indian Economists who had done pioneering work on National Income?

  • P. N. Dhar
  • Jagdish Bhagwati
  • Answer: V. K. R. V. Rao
  • Prof. Shenoi

14.Which of the following is not a method of estimating national income?

  • Income method
  • Value – added method
  • Expenditure method
  • Answer: Export – import method

15. In our country, which of the following affects poverty line the most?

  • Level of prices
  • Production quantum
  • Answer: Per capita income
  • Quantum of gold reserve

16.To know whether the rich are getting richer and the poor getting poorer, it is necessary to compare

  • The availability of food grains among two sets of people, one rich and the other poor, over different periods of time
  • Answer: The distribution of income of an identical set of income recipients in different periods of time
  • The wholesale price index over different periods of time for different regions
  • The distribution of income of different sets of income recipients at a point of time

17.The largest revenue in India is obtained from?

  • Sales Tax
  • Direct Taxes
  • Answer: Excise Duties
  • None of these

18.Which of the following is not true about ‘vote on-account’?

  • Answer: 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.

19.Fresh evaluation of every item of expenditure from the very beginning of each financial year is called ?

  • Fresh Budgeting
  • Deficit Budgeting
  • Performance Budgeting
  • Answer: Zero-based Budgeting

20. Government imposes taxes to ?

  • check the accumulation of wealth among the rich
  • Answer: Run the machinery of state
  • uplift weaker sections
  • None of these

21.An ad valorem duty is a tax on the basis of

  • Answer: the price of a commodity
  • the value added
  • the advertisement expenditure
  • the unit of the commodity

22. The budget is presented to the Parliament on

  • Answer: the last day of February
  • 15th March
  • the last day of March
  • 1st April

23.The income tax in India is

  • indirect and progressive
  • direct and proportional
  • Answer: direct and progressive
  • indirect and proportional

24. Fiscal Policy is connected with

  • Issue of currency
  • exports and imports
  • Answer: public revenue and expenditure
  • None of these

25.Which of the following is not a direct tax?

  • Wealth Tax
  • Income Tax
  • Estate Duty
  • Answer: Sales Tax

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  • Which of the following is true with
    reference to democracy?
    a. A is true but B is false.
    b. A is false but B is true.
    c. Both A and B re true.
    d. Both A is true and B is false.

    piratpal on 15 Feb 2013
  • Q.Which of the following is true with
    reference to democracy?
    a. A is true but B is false.
    b. A is false but B is true.
    c. Both A and B re true.
    d. Both A is true and B is false.

    steve on 28 Jan 2013
  • Which one of the following is not a feature of current indian planning? 1. Structural planning 2. Indicative planning 3. Functional planning 4. Decentralised planning.

    Chenilotha on 21 Jan 2013
  • A good collection of questions on indian econmy which will really boost the level of an individual especially civil services aspirnts .So ,Please show also the answers of following questions.Thankig You !!!

    Balkaur Singh on 31 Oct 2012
  • A good collection of questions on indian econmy which will really boost the level of an individual especially civil services aspirnts .So ,Please show also the answers of following questions.

    Balkaur Singh on 31 Oct 2012
  • Exports and Imports come under the purview ofExports and Imports come under the purview of:
    A. Ministry of Finance
    B. Ministry of Commerce
    C. Ministry of External Affairs
    D. Ministry of International Affairs

    arundhati sarma on 11 Oct 2012
  • objective type question and answer Exports and Imports come under the purview ofExports and Imports come under the purview of:
    A. Ministry of Finance
    B. Ministry of Commerce
    C. Ministry of External Affairs
    D. Ministry of International Affairs

    arundhati sarma on 11 Oct 2012
  • 7. State Bank of India is maintaining account in Japanese Yen with American Express Bank, Tokyo. It is known as:

    a. Vostro account
    b. Nostro account
    c. Loro account
    d. Escrow account
    e. Current account

    HANWANT SINGH on 21 Sep 2012
  • Which one of the following is not a cause but a consequence of Globalisation?
    A. Deregulation abroad
    B. Integration of Markets
    C. Greater institutionalization abroad
    D. Greater Risk Exposure

    HANWANT SINGH on 21 Sep 2012
  • Exports and Imports come under the purview of:
    A. Ministry of Finance
    B. Ministry of Commerce
    C. Ministry of External Affairs
    D. Ministry of International Affairs

    HANWANT SINGH on 21 Sep 2012
  • An appreciation of the Rupee relative to the US Dollar would be expected to have which of the following effects?

    Mary on 04 Sep 2012
  • your provided question on indian economy is very very good for the purpose of any commission.pls define fiscal deficet with an suitable example.thanks for kind question

    subhash das on 22 Aug 2012
  • Which of these is NOT a focus product group for enhancing India‘s exports to the Latin American region

    laylaa on 28 May 2012
  • emploment in organised sector as % oftotal working force accountedfor—————.

    jossy abhilash on 26 May 2012
  • 1) The Foreign Trade Policy in India is announced by
    A. Ministry of Finance, Government of India
    B. Ministry of Commerce, Government of India
    C. Ministry of External Affairs, Government of India
    D. Director General of Foreign Trade

    2) Which of the following is NOT a part of the European Union?
    A. France
    B. Germany
    C. Iceland
    D. Slovenia

    3) Focus LAC programme lays emphasis on India’s major trading partners. The major trading partners include:
    A. Brazil, Venezuela, Chile
    B. Argentina, Peru, Colombia
    C. Bahamas, Trinidad, Ecuador
    D. All of the above

    4) Export Promotion Capital Goods (EPCG) Scheme is for:
    A. Import of Raw Materials by Manufacturers
    B. Import of Capital Goods by Manufacturers and Merchant Exporters
    C. Export of Capital Goods by Manufacturers only
    D. Export and Import of Capital Goods by merchant as well as manufacturers

    5) APEDA is associated with:
    A. Promotion of agriculture and improving agricultural practices
    B. Promotion of exports of packaged products from India
    C. Promotion of exports agricultural and processed food products
    D. Promotion of exports of organic agricultural products from India

    6) Foreign Trade (Development and Regulation) Act, was introduced in:
    A. 1991
    B. 1992
    C. 2002
    D. 2004

    7) DGCI&S is:
    A. Director General of Commercial Intelligence and Statistics
    B. Directorate General of Commercial Intelligence and Statistics
    C. Director General of Central Improvement and States
    D. None of the above

    8) The objectives of Foreign Trade Policy 2004-2009 were:
    A. To double India’s percentage share of global merchandise trade by 2009; and
    B. To act as an effective instrument of economic growth by giving a thrust to employment generation, especially in semi-urban and rural areas
    C. Both A and B
    D. None of the above

    9) MDA refers to _______________:
    A. Market Development Assistance
    B. Market Discovery Assistance
    C. Marketing Development Assistance
    D. None of the above

    10) The objectives of MDA are to:
    A. Assist Export Promotion Councils (EPCs) to undertake export promotion activities for their product(s) and commodities
    B. Assist Focus export promotion programmes in specific regions abroad like FOCUS (LAC), Focus (Africa), Focus (CIS) and Focus (ASEAN + 2) programmes.
    C. Assist approved organizations/trade bodies in undertaking exclusive nonrecurring innovative activities connected with export promotion efforts for their members
    D. All of the above

    11) Which of these is the eligible activity for assistance provided under MAI scheme?
    A. Assist exporters for export promotion activities abroad
    B. Residual essential activities connected with marketing promotion efforts abroad.
    C. Opening of Showrooms & Warehouses
    D. Assist approved organizations in undertaking exclusive nonrecurring innovative activities connected with export promotion efforts

    12) Under MAI scheme, financial assistance MAY NOT be provided to:
    A. Export Promotion Councils
    B. All individual exporters
    C. Registered Trade Promotion Organisation
    D. Commodity Boards

    13) Which of these countries is NOT a part of Focus LAC programme?
    A. Barbados
    B. Guyana
    C. British Virgin Islands
    D. Fiji

    14) FOCUS LAC programme is to promote India’s trade with:
    A. Least-developed African countries
    B. Latin American Countries
    C. Both A and B
    D. None of the above

    15) Which of these commodities is NOT a principal commodity exported by India:
    A. Gems & Jewellery
    B. Textiles
    C. Pulses
    D. Engineering Goods

    16) Which of these is a ‘thrust sectors for exports’, as identified by the Government of India include:
    A. Leather and Leather goods
    B. Chemicals
    C. Education Services
    D. Petroleum products

    17) There are 9 Commodity Boards for all EXCEPT one of the following commodities:
    A. Coffee
    B. Tea
    C. Rubber
    D. Wheat

    18) Which of these is NOT an incentive provided to units in an SEZ?
    A. Duty free import/domestic procurement of goods for development, operation and maintenance of units
    B. Exemption from export commitments
    C. Exemption from Central Sales Tax
    D. Exemption from Service Tax

    19) Which of these is the correct combination for minimum area requirements for setting up a SEZ?

    1 IT/ITES/handicrafts SEZ Bio-technology/ non-conventional energy/gems and jewellery Sector A 100 hectares

    2 Sector Specific SEZ B 40 hectares
    3 FTWZ C 1000 hectares
    4 Multi Sector SEZ D 10 hectares

    A. 1A; 2B; 3C; 4D
    B. 1D; 2A; 3B; 4C
    C. 1C; 2A; 3D; 4B
    D. 1A; 2D; 3B; 4C

    20) Export Credit Guarantee Corporation (ECGC) provides the following types of cover to the exporters?
    A. Standard policies
    B. Special policies
    C. Financial guarantees
    D. All of the above
    21) The functions of India Trade Promotion Organisation (ITPO) include:
    A. Providing information and market intelligence to the business community
    B. Issuing insurance policies to exporters
    C. Financing India’s imports and exports
    D. Providing financial guarantees to banks against the risks involved in providing credit to exporters

    22) Indian Institute of Foreign Trade (IIFT) is located in?
    A. New Delhi
    B. Kolkata
    C. New Delhi and Kolkata
    D. None of the above

    23) The products covered by APEDA include all, EXCEPT:
    A. Meat and meat products
    B. Seafood and marine products
    C. Poultry and poultry products
    D. Dairy products

    24) There are 19 Export Promotion Councils. The products which are not covered by Export Promotion Councils are?
    A. Basic Chemicals, Pharmaceuticals and Cosmetics
    B. Gems and Jewellery, Leather and Leather goods
    C. Coffee, Tea, Spices
    D. Electronics & Computer software Engineering

    25) The objectives of the Export Promotion Council for EOUs and SEZs (EPCES) are:
    • To promote exports from India and to earn more foreign exchange for the country.
    • To facilitate interaction between the exporting community and government both at the Central and State level
    • To canalize financial assistance rendered by the Central Government to members for assisting their export market development efforts.
    • All of the above
    • None of the above

    26) Asia’s first Export Processing Zone (EPZ) was set up in:
    A. Mumbai in 1965
    B. Kandla in 1965
    C. Chennai in 1965
    D. Kolkata in 1965

    27) Which of these are the purposes of setting up EOU’s/ SEZs:
    A. Promotion of investment – from domestic and foreign sources
    B. Creating employment opportunities
    C. Developing infrastructure facilities
    D. All of the above
    E. None of the above
    28) Exports and Imports come under the purview of:
    A. Ministry of Finance
    B. Ministry of Commerce
    C. Ministry of External Affairs
    D. Ministry of International Affairs

    29) Which one of the following is not a cause but a consequence of Globalisation?
    A. Deregulation abroad
    B. Integration of Markets
    C. Greater institutionalization abroad
    D. Greater Risk Exposure

    30) An OBU set up in SEZ by a bank in India is subject to:
    A. CRR/SLR stipulation of RBI
    B. No Capital Adequacy Norms
    C. No CRR/SLR stipulation of RBI
    D. No restrictions from Government of India.

    31) If a country is having more exports than imports in value terms, it can be said that the country is having:
    A. BOP crisis
    B. Deficit under BOT
    C. Surplus under BOT
    D. Surplus under BOP

    32) An appreciation of the Rupee relative to the US Dollar would be expected to have which of the following effects?
    A. Increase US exports to India
    B. Increase US imports from India
    C. Raise the cost to Americans for Indian imports
    D. Create Balance of Payments surplus for India

    33) India is among the 15 leading exporters of agricultural products in the world. It had a share of ____ per cent in world trade in agriculture in 2008.
    A. 1.2
    B. 0.76
    C. 1.6
    D. 1.8

    34) The largest importer of agricultural products in 2008 was ____________?
    A. European Union (27)
    B. United States
    C. Japan
    D. China

    35) The largest exporter of agricultural products in 2008 was ____________?
    A. European Union (27)
    B. United States
    C. Brazil
    D. Canada

    36) Consumer food industry does not include:
    A. packaged foods
    B. packaged drinking water
    C. alcoholic beverages
    D. fresh fruits and vegetables

    37) Challenges faced by India’s gems and jewellery sector are:
    A. Unorganized sector
    B. Low level of R&D and product development
    C. Possible Threats from China and from Other Countries Producing Diamonds
    D. All of the above

    38) Which of these is the strength of Indian Leather and Leather goods sector?
    A. World-class institutional support for Design & Product Development, HRD and R & D
    B. Presence of support industries like leather chemicals and finishing auxiliaries
    C. Presence in major markets
    D. All of the above

    39) Which of these is NOT a focus product group for enhancing India‘s exports to the Latin American region:
    A. Textiles including ready-made garments, carpets and handicrafts
    B. Engineering products and computer software
    C. Chemical products including drugs/pharmaceuticals
    D. Gems and jewellery
    E. All of the above

    40) The state with the major share in production of leather and leather products is_________?
    A. Tamil Nadu
    B. Kerala
    C. Manipur
    D. Assam
    DAVID KWAME AGBEMABIESE on 02 May 2012

    30) An OBU set up in SEZ by a bank in India is subject to:
    A. CRR/SLR stipulation of RBI
    B. No Capital Adequacy Norms
    C. No CRR/SLR stipulation of RBI
    D. No restrictions from Government of India.
    ajo on 22 May 2012

    Which of the following is NOT a part of the European Union?
    A. France
    B. Germany
    C. Iceland
    D. Slovenia

    Manish on 25 May 2012
  • Would you help with the answers to the below multiple choice as well. It will be helpful

    VINCENT CHIBAMBO on 24 May 2012
  • The Foreign Trade Policy in India is announced by
    A. Ministry of Finance, Government of India
    B. Ministry of Commerce, Government of India
    C. Ministry of External Affairs, Government of India
    D. Director General of Foreign Trade

    2) Which of the following is NOT a part of the European Union?
    A. France
    B. Germany
    C. Iceland
    D. Slovenia

    3) Focus LAC programme lays emphasis on India’s major trading partners. The major trading partners include:
    A. Brazil, Venezuela, Chile
    B. Argentina, Peru, Colombia
    C. Bahamas, Trinidad, Ecuador
    D. All of the above

    4) Export Promotion Capital Goods (EPCG) Scheme is for:
    A. Import of Raw Materials by Manufacturers
    B. Import of Capital Goods by Manufacturers and Merchant Exporters
    C. Export of Capital Goods by Manufacturers only
    D. Export and Import of Capital Goods by merchant as well as manufacturers

    5) APEDA is associated with:
    A. Promotion of agriculture and improving agricultural practices
    B. Promotion of exports of packaged products from India
    C. Promotion of exports agricultural and processed food products
    D. Promotion of exports of organic agricultural products from India

    6) Foreign Trade (Development and Regulation) Act, was introduced in:
    A. 1991
    B. 1992
    C. 2002
    D. 2004

    7) DGCI&S is:
    A. Director General of Commercial Intelligence and Statistics
    B. Directorate General of Commercial Intelligence and Statistics
    C. Director General of Central Improvement and States
    D. None of the above

    8) The objectives of Foreign Trade Policy 2004-2009 were:
    A. To double India’s percentage share of global merchandise trade by 2009; and
    B. To act as an effective instrument of economic growth by giving a thrust to employment generation, especially in semi-urban and rural areas
    C. Both A and B
    D. None of the above

    9) MDA refers to _______________:
    A. Market Development Assistance
    B. Market Discovery Assistance
    C. Marketing Development Assistance
    D. None of the above

    10) The objectives of MDA are to:
    A. Assist Export Promotion Councils (EPCs) to undertake export promotion activities for their product(s) and commodities
    B. Assist Focus export promotion programmes in specific regions abroad like FOCUS (LAC), Focus (Africa), Focus (CIS) and Focus (ASEAN + 2) programmes.
    C. Assist approved organizations/trade bodies in undertaking exclusive nonrecurring innovative activities connected with export promotion efforts for their members
    D. All of the above

    11) Which of these is the eligible activity for assistance provided under MAI scheme?
    A. Assist exporters for export promotion activities abroad
    B. Residual essential activities connected with marketing promotion efforts abroad.
    C. Opening of Showrooms & Warehouses
    D. Assist approved organizations in undertaking exclusive nonrecurring innovative activities connected with export promotion efforts

    12) Under MAI scheme, financial assistance MAY NOT be provided to:
    A. Export Promotion Councils
    B. All individual exporters
    C. Registered Trade Promotion Organisation
    D. Commodity Boards

    13) Which of these countries is NOT a part of Focus LAC programme?
    A. Barbados
    B. Guyana
    C. British Virgin Islands
    D. Fiji

    14) FOCUS LAC programme is to promote India’s trade with:
    A. Least-developed African countries
    B. Latin American Countries
    C. Both A and B
    D. None of the above

    15) Which of these commodities is NOT a principal commodity exported by India:
    A. Gems & Jewellery
    B. Textiles
    C. Pulses
    D. Engineering Goods

    16) Which of these is a ‘thrust sectors for exports’, as identified by the Government of India include:
    A. Leather and Leather goods
    B. Chemicals
    C. Education Services
    D. Petroleum products

    17) There are 9 Commodity Boards for all EXCEPT one of the following commodities:
    A. Coffee
    B. Tea
    C. Rubber
    D. Wheat

    18) Which of these is NOT an incentive provided to units in an SEZ?
    A. Duty free import/domestic procurement of goods for development, operation and maintenance of units
    B. Exemption from export commitments
    C. Exemption from Central Sales Tax
    D. Exemption from Service Tax

    19) Which of these is the correct combination for minimum area requirements for setting up a SEZ?

    1 IT/ITES/handicrafts SEZ Bio-technology/ non-conventional energy/gems and jewellery Sector A 100 hectares

    2 Sector Specific SEZ B 40 hectares
    3 FTWZ C 1000 hectares
    4 Multi Sector SEZ D 10 hectares

    A. 1A; 2B; 3C; 4D
    B. 1D; 2A; 3B; 4C
    C. 1C; 2A; 3D; 4B
    D. 1A; 2D; 3B; 4C

    20) Export Credit Guarantee Corporation (ECGC) provides the following types of cover to the exporters?
    A. Standard policies
    B. Special policies
    C. Financial guarantees
    D. All of the above
    21) The functions of India Trade Promotion Organisation (ITPO) include:
    A. Providing information and market intelligence to the business community
    B. Issuing insurance policies to exporters
    C. Financing India’s imports and exports
    D. Providing financial guarantees to banks against the risks involved in providing credit to exporters

    22) Indian Institute of Foreign Trade (IIFT) is located in?
    A. New Delhi
    B. Kolkata
    C. New Delhi and Kolkata
    D. None of the above

    23) The products covered by APEDA include all, EXCEPT:
    A. Meat and meat products
    B. Seafood and marine products
    C. Poultry and poultry products
    D. Dairy products

    24) There are 19 Export Promotion Councils. The products which are not covered by Export Promotion Councils are?
    A. Basic Chemicals, Pharmaceuticals and Cosmetics
    B. Gems and Jewellery, Leather and Leather goods
    C. Coffee, Tea, Spices
    D. Electronics & Computer software Engineering

    25) The objectives of the Export Promotion Council for EOUs and SEZs (EPCES) are:
    • To promote exports from India and to earn more foreign exchange for the country.
    • To facilitate interaction between the exporting community and government both at the Central and State level
    • To canalize financial assistance rendered by the Central Government to members for assisting their export market development efforts.
    • All of the above
    • None of the above

    26) Asia’s first Export Processing Zone (EPZ) was set up in:
    A. Mumbai in 1965
    B. Kandla in 1965
    C. Chennai in 1965
    D. Kolkata in 1965

    27) Which of these are the purposes of setting up EOU’s/ SEZs:
    A. Promotion of investment – from domestic and foreign sources
    B. Creating employment opportunities
    C. Developing infrastructure facilities
    D. All of the above
    E. None of the above
    28) Exports and Imports come under the purview of:
    A. Ministry of Finance
    B. Ministry of Commerce
    C. Ministry of External Affairs
    D. Ministry of International Affairs

    29) Which one of the following is not a cause but a consequence of Globalisation?
    A. Deregulation abroad
    B. Integration of Markets
    C. Greater institutionalization abroad
    D. Greater Risk Exposure

    30) An OBU set up in SEZ by a bank in India is subject to:
    A. CRR/SLR stipulation of RBI
    B. No Capital Adequacy Norms
    C. No CRR/SLR stipulation of RBI
    D. No restrictions from Government of India.

    31) If a country is having more exports than imports in value terms, it can be said that the country is having:
    A. BOP crisis
    B. Deficit under BOT
    C. Surplus under BOT
    D. Surplus under BOP

    32) An appreciation of the Rupee relative to the US Dollar would be expected to have which of the following effects?
    A. Increase US exports to India
    B. Increase US imports from India
    C. Raise the cost to Americans for Indian imports
    D. Create Balance of Payments surplus for India

    33) India is among the 15 leading exporters of agricultural products in the world. It had a share of ____ per cent in world trade in agriculture in 2008.
    A. 1.2
    B. 0.76
    C. 1.6
    D. 1.8

    34) The largest importer of agricultural products in 2008 was ____________?
    A. European Union (27)
    B. United States
    C. Japan
    D. China

    35) The largest exporter of agricultural products in 2008 was ____________?
    A. European Union (27)
    B. United States
    C. Brazil
    D. Canada

    36) Consumer food industry does not include:
    A. packaged foods
    B. packaged drinking water
    C. alcoholic beverages
    D. fresh fruits and vegetables

    37) Challenges faced by India’s gems and jewellery sector are:
    A. Unorganized sector
    B. Low level of R&D and product development
    C. Possible Threats from China and from Other Countries Producing Diamonds
    D. All of the above

    38) Which of these is the strength of Indian Leather and Leather goods sector?
    A. World-class institutional support for Design & Product Development, HRD and R & D
    B. Presence of support industries like leather chemicals and finishing auxiliaries
    C. Presence in major markets
    D. All of the above

    39) Which of these is NOT a focus product group for enhancing India‘s exports to the Latin American region:
    A. Textiles including ready-made garments, carpets and handicrafts
    B. Engineering products and computer software
    C. Chemical products including drugs/pharmaceuticals
    D. Gems and jewellery
    E. All of the above

    40) The state with the major share in production of leather and leather products is_________?
    A. Tamil Nadu
    B. Kerala
    C. Manipur
    D. Assam

    DAVID KWAME AGBEMABIESE on 02 May 2012
    30) An OBU set up in SEZ by a bank in India is subject to:
    A. CRR/SLR stipulation of RBI
    B. No Capital Adequacy Norms
    C. No CRR/SLR stipulation of RBI
    D. No restrictions from Government of India.

    ajo on 22 May 2012
    Which of the following is NOT a part of the European Union?
    A. France
    B. Germany
    C. Iceland
    D. Slovenia

    VINCENT CHIBAMBO on 24 May 2012
  • Which of the following is NOT a part of the European Union?
    A. France
    B. Germany
    C. Iceland
    D. Slovenia

    Amina on 24 May 2012
  • 30) An OBU set up in SEZ by a bank in India is subject to:
    A. CRR/SLR stipulation of RBI
    B. No Capital Adequacy Norms
    C. No CRR/SLR stipulation of RBI
    D. No restrictions from Government of India.

    ajo on 22 May 2012
  • 1) The Foreign Trade Policy in India is announced by
    A. Ministry of Finance, Government of India
    B. Ministry of Commerce, Government of India
    C. Ministry of External Affairs, Government of India
    D. Director General of Foreign Trade

    2) Which of the following is NOT a part of the European Union?
    A. France
    B. Germany
    C. Iceland
    D. Slovenia

    3) Focus LAC programme lays emphasis on India’s major trading partners. The major trading partners include:
    A. Brazil, Venezuela, Chile
    B. Argentina, Peru, Colombia
    C. Bahamas, Trinidad, Ecuador
    D. All of the above

    4) Export Promotion Capital Goods (EPCG) Scheme is for:
    A. Import of Raw Materials by Manufacturers
    B. Import of Capital Goods by Manufacturers and Merchant Exporters
    C. Export of Capital Goods by Manufacturers only
    D. Export and Import of Capital Goods by merchant as well as manufacturers

    5) APEDA is associated with:
    A. Promotion of agriculture and improving agricultural practices
    B. Promotion of exports of packaged products from India
    C. Promotion of exports agricultural and processed food products
    D. Promotion of exports of organic agricultural products from India

    6) Foreign Trade (Development and Regulation) Act, was introduced in:
    A. 1991
    B. 1992
    C. 2002
    D. 2004

    7) DGCI&S is:
    A. Director General of Commercial Intelligence and Statistics
    B. Directorate General of Commercial Intelligence and Statistics
    C. Director General of Central Improvement and States
    D. None of the above

    8) The objectives of Foreign Trade Policy 2004-2009 were:
    A. To double India’s percentage share of global merchandise trade by 2009; and
    B. To act as an effective instrument of economic growth by giving a thrust to employment generation, especially in semi-urban and rural areas
    C. Both A and B
    D. None of the above

    9) MDA refers to _______________:
    A. Market Development Assistance
    B. Market Discovery Assistance
    C. Marketing Development Assistance
    D. None of the above

    10) The objectives of MDA are to:
    A. Assist Export Promotion Councils (EPCs) to undertake export promotion activities for their product(s) and commodities
    B. Assist Focus export promotion programmes in specific regions abroad like FOCUS (LAC), Focus (Africa), Focus (CIS) and Focus (ASEAN + 2) programmes.
    C. Assist approved organizations/trade bodies in undertaking exclusive nonrecurring innovative activities connected with export promotion efforts for their members
    D. All of the above

    11) Which of these is the eligible activity for assistance provided under MAI scheme?
    A. Assist exporters for export promotion activities abroad
    B. Residual essential activities connected with marketing promotion efforts abroad.
    C. Opening of Showrooms & Warehouses
    D. Assist approved organizations in undertaking exclusive nonrecurring innovative activities connected with export promotion efforts

    12) Under MAI scheme, financial assistance MAY NOT be provided to:
    A. Export Promotion Councils
    B. All individual exporters
    C. Registered Trade Promotion Organisation
    D. Commodity Boards

    13) Which of these countries is NOT a part of Focus LAC programme?
    A. Barbados
    B. Guyana
    C. British Virgin Islands
    D. Fiji

    14) FOCUS LAC programme is to promote India’s trade with:
    A. Least-developed African countries
    B. Latin American Countries
    C. Both A and B
    D. None of the above

    15) Which of these commodities is NOT a principal commodity exported by India:
    A. Gems & Jewellery
    B. Textiles
    C. Pulses
    D. Engineering Goods

    16) Which of these is a ‘thrust sectors for exports’, as identified by the Government of India include:
    A. Leather and Leather goods
    B. Chemicals
    C. Education Services
    D. Petroleum products

    17) There are 9 Commodity Boards for all EXCEPT one of the following commodities:
    A. Coffee
    B. Tea
    C. Rubber
    D. Wheat

    18) Which of these is NOT an incentive provided to units in an SEZ?
    A. Duty free import/domestic procurement of goods for development, operation and maintenance of units
    B. Exemption from export commitments
    C. Exemption from Central Sales Tax
    D. Exemption from Service Tax

    19) Which of these is the correct combination for minimum area requirements for setting up a SEZ?

    1 IT/ITES/handicrafts SEZ Bio-technology/ non-conventional energy/gems and jewellery Sector A 100 hectares

    2 Sector Specific SEZ B 40 hectares
    3 FTWZ C 1000 hectares
    4 Multi Sector SEZ D 10 hectares

    A. 1A; 2B; 3C; 4D
    B. 1D; 2A; 3B; 4C
    C. 1C; 2A; 3D; 4B
    D. 1A; 2D; 3B; 4C

    20) Export Credit Guarantee Corporation (ECGC) provides the following types of cover to the exporters?
    A. Standard policies
    B. Special policies
    C. Financial guarantees
    D. All of the above
    21) The functions of India Trade Promotion Organisation (ITPO) include:
    A. Providing information and market intelligence to the business community
    B. Issuing insurance policies to exporters
    C. Financing India’s imports and exports
    D. Providing financial guarantees to banks against the risks involved in providing credit to exporters

    22) Indian Institute of Foreign Trade (IIFT) is located in?
    A. New Delhi
    B. Kolkata
    C. New Delhi and Kolkata
    D. None of the above

    23) The products covered by APEDA include all, EXCEPT:
    A. Meat and meat products
    B. Seafood and marine products
    C. Poultry and poultry products
    D. Dairy products

    24) There are 19 Export Promotion Councils. The products which are not covered by Export Promotion Councils are?
    A. Basic Chemicals, Pharmaceuticals and Cosmetics
    B. Gems and Jewellery, Leather and Leather goods
    C. Coffee, Tea, Spices
    D. Electronics & Computer software Engineering

    25) The objectives of the Export Promotion Council for EOUs and SEZs (EPCES) are:
    • To promote exports from India and to earn more foreign exchange for the country.
    • To facilitate interaction between the exporting community and government both at the Central and State level
    • To canalize financial assistance rendered by the Central Government to members for assisting their export market development efforts.
    • All of the above
    • None of the above

    26) Asia’s first Export Processing Zone (EPZ) was set up in:
    A. Mumbai in 1965
    B. Kandla in 1965
    C. Chennai in 1965
    D. Kolkata in 1965

    27) Which of these are the purposes of setting up EOU’s/ SEZs:
    A. Promotion of investment – from domestic and foreign sources
    B. Creating employment opportunities
    C. Developing infrastructure facilities
    D. All of the above
    E. None of the above
    28) Exports and Imports come under the purview of:
    A. Ministry of Finance
    B. Ministry of Commerce
    C. Ministry of External Affairs
    D. Ministry of International Affairs

    29) Which one of the following is not a cause but a consequence of Globalisation?
    A. Deregulation abroad
    B. Integration of Markets
    C. Greater institutionalization abroad
    D. Greater Risk Exposure

    30) An OBU set up in SEZ by a bank in India is subject to:
    A. CRR/SLR stipulation of RBI
    B. No Capital Adequacy Norms
    C. No CRR/SLR stipulation of RBI
    D. No restrictions from Government of India.

    31) If a country is having more exports than imports in value terms, it can be said that the country is having:
    A. BOP crisis
    B. Deficit under BOT
    C. Surplus under BOT
    D. Surplus under BOP

    32) An appreciation of the Rupee relative to the US Dollar would be expected to have which of the following effects?
    A. Increase US exports to India
    B. Increase US imports from India
    C. Raise the cost to Americans for Indian imports
    D. Create Balance of Payments surplus for India

    33) India is among the 15 leading exporters of agricultural products in the world. It had a share of ____ per cent in world trade in agriculture in 2008.
    A. 1.2
    B. 0.76
    C. 1.6
    D. 1.8

    34) The largest importer of agricultural products in 2008 was ____________?
    A. European Union (27)
    B. United States
    C. Japan
    D. China

    35) The largest exporter of agricultural products in 2008 was ____________?
    A. European Union (27)
    B. United States
    C. Brazil
    D. Canada

    36) Consumer food industry does not include:
    A. packaged foods
    B. packaged drinking water
    C. alcoholic beverages
    D. fresh fruits and vegetables

    37) Challenges faced by India’s gems and jewellery sector are:
    A. Unorganized sector
    B. Low level of R&D and product development
    C. Possible Threats from China and from Other Countries Producing Diamonds
    D. All of the above

    38) Which of these is the strength of Indian Leather and Leather goods sector?
    A. World-class institutional support for Design & Product Development, HRD and R & D
    B. Presence of support industries like leather chemicals and finishing auxiliaries
    C. Presence in major markets
    D. All of the above

    39) Which of these is NOT a focus product group for enhancing India‘s exports to the Latin American region:
    A. Textiles including ready-made garments, carpets and handicrafts
    B. Engineering products and computer software
    C. Chemical products including drugs/pharmaceuticals
    D. Gems and jewellery
    E. All of the above

    40) The state with the major share in production of leather and leather products is_________?
    A. Tamil Nadu
    B. Kerala
    C. Manipur
    D. Assam

    DAVID KWAME AGBEMABIESE on 02 May 2012
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