Economics (Part-II) (Railway)

11. Which of the following is the component of M1 in money supply? [RRB RPF Constable Exam, 20.01.2019 Shift-III]

(1) Investment
(2) Savings
(3) Interest Rate
(4) Currency + deposits

Correct Answer: (4) Currency + deposits

Solution:M1 is a narrow measure of the money supply that includes currency, demand deposits, and other liquid deposits, including savings deposits.

• M1 does not include financial assets, such as bonds.

12. The government sponsored support price for agro-crop is________. [RRB RPF Constable Exam, 20.01.2019 Shift-III]

(1) Maximum Support Price
(2) Maximum Purchase Price
(3) Minimum Support Price
(4) Minimum purchase price

Correct Answer: (3) Minimum Support Price

Solution:The Minimum Support Price (MSP) is the rate at which the government purchases crops from farmers.

• It is based on a calculation of at least one-and-a-half times the cost of production incurred by the farmers.

13. What is NSSO under the Ministry of Statistics and Program Implementation? [RRB RPF Constable Exam, 25.01.2019 Shift-I]

(1) National Statistical Survey Organisation
(2) National Social Static Organisation
(3) National Social Survey Organisation
(4) National Sample Survey Organisation

Correct Answer: (4) National Sample Survey Organisation

Solution:The National Sample Survey Office (NSSO) comes under the Ministry of Statistic and Program Implementation.

• The National Sample Survey Office (NSSO) merged with the Central Statistical Office (CSO) to form the National Statistical Office (NSO).

14. The Reserve Bank of India was established in________. [RRB RPF Constable Exam, 25.01.2019 Shift-I]

(1) 1858
(2) 1909
(3) 1935
(4) 1919

Correct Answer: (3) 1935

Solution:The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

• It was nationalised with effect from 1st January, 1949.

15. In which field do the government own the highest assets and provide all the services? [RRB RPF Constable Exam, 25.01.2019 Shift-I]

(1) Foreign Direct Investment
(2) Private sector
(3) Public Private Partnerships
(4) Public Sector

Correct Answer: (4) Public Sector

Solution:The public sector comprises of organisations that are partly or wholly owned by government.

• In a government company, the paidup capital held by the state or central government is at least 51 percent of the total shares.

16. What is the full form of MRP with respect to the items cost on products? [RRB RPF Constable Exam, 25.01.2019 Shift-I]

(1) Minimum Retail Price
(2) Maximal Retail Price
(3) Minimum Range Price
(4) Maximum Range Price

Correct Answer: (2) Maximal Retail Price

Solution:Maximum Retail Price (MRP) means such price at which the product shall be sold in retail and such price shall include all taxes levied on the product.

• No goods or item can be sold more than MRP.

17. India's growth rate in 2001 - 2011 was_______. [RRB RPF Constable Exam, 25.01.2019 Shift-I]

(1) 17.64%
(2) 25%
(3) 10.70%
(4) 15%

Correct Answer: (1) 17.64%

Solution:As per Census the 2011, the population has increased by more than 181 million during the decade 2001-2011.

• The growth rate in 2011 is 17.64 per cent in comparison to 21.15 percent in 2001.

18. When did the Reserve Bank of India start operations? [RRB RPF Constable Exam, 25.01.2019 Shift-III]

(1) 1945
(2) 1947
(3) 1955
(4) 1935

Correct Answer: (4) 1935

Solution:The Reserve Bank of India was established on April 1, 1935 in accordance with the provisions of the Reserve Bank of India Act, 1934.

• It was nationalised with effect from 1st January, 1949.

19. Statistical Brochure of Indian Economy is published by________. [RRB RPF Constable Exam, 25.01.2019 Shift-III]

(1) Securities and Exchange Board of India (SEBI)
(2) Reserve Bank of India
(3) Financial Stability and Development Council (FSDC)
(4) Small Industries Development Bank of India (SID BI)

Correct Answer: (2) Reserve Bank of India

Solution:Handbook of Statistics on Indian Economy is annually published by the Reserve Bank of India.

20. Fiscal deficit means- [RRB RPF Constable Exam, 25.01.2018 Shift-III]

(1) External Remedies
(2) External debt
(3) Currency Printing
(4) All of the above

Correct Answer: (4) All of the above

Solution:A fiscal deficit is a difference between a government's total revenue and expenses in a given fiscal year.