Economics (Part-VI) (Railway)

Total Questions: 57

11. The Nehru Rozgar Yojana (NRY) was launched in which Five-Year plan in India? [RRB Group 'D' CBT Exam, 27.09.2022 (Shift-I)]

(1) Second
(2) Ninth
(3) Fifth
(4) Seventh

Correct Answer: (4) Seventh

Solution:Jawahar Rozgar Yojana was launched on 1st April 1989 in the Seventh Five Year Plan by the then Prime Minister Lt. Atal Bihari Vajpayee.

• It was established by merging the National Rural Employment Programme and Rural Landless Employment Guarantee Programme.

12. The Pradhan Mantri Shram Yogi Maandhan Yojana (PMSYM) is aimed at providing: [RRB Group 'D' CBT Exam, 27.09.2022 (Shift-I)]

(1) loans for small farmers
(2) education subsidies to students in professional education
(3) protection for old age unorganized workers
(4) protection for girls against dowry exploitation

Correct Answer: (3) protection for old age unorganized workers

Solution:Pradhan Mantri Shram Yogi Maandhan is a government scheme meant for old age protection and social security of Unorganized Workers (UW).

• It is a voluntary and contributory pension scheme on a 50:50 basis where contribution shall be made by the beneficiary and the matching contribution by the Central Government.

13. What is non-tax revenue? [RRB Group 'D' CBT Exam, 27.09.2022 (Shift-I)]

(1) Income earned by the government through the public sector units only
(2) Any liabilities for the government
(3) Financial help in the form of grants, gifts from foreign governments and international organisations.
(4) Recurring income earned by the government form sources other than taxes.

Correct Answer: (4) Recurring income earned by the government form sources other than taxes.

Solution:Non-Tax Revenue is the recurring income that is earned from sources other than taxes by the government.

• They are the revenue receipts that are not generated by taxing the public.

• Some of the major sources of non-tax revenue are interests, Power Supply Fees, License Fee, Fines and Penalties, Escheats, Forfeitures, etc.

14. Which five-year plan is also called 'Gadgil Yojna', after the Deputy Chairman of the Planning Commission DR Gadgil? [RRB Group 'D' CBT Exam, 27.09.2022 (Shift-I)]

(1) Fourth
(2) Third
(3) Fifth
(4) Sixth

Correct Answer: (2) Third

Solution:The third Five Year Plan (1961-1966) is known as Gadgil Yojana.

• D.R. Gadgil was the Deputy Chairman of Planning Commission who formulated the Third Five-year plan.

• This five-year plan shifted its major focus to India's defence sector, along with the other sectors.

15. Which of the following is NOT a goal of sustainable agriculture? [RRB Group 'D' CBT Exam, 27.09.2022 (Shift-I)]

(1) Minimising labour and effort
(2) Minimising input of chemicals
(3) Maximising economic value
(4) Maximising environmental health

Correct Answer: (1) Minimising labour and effort

Solution:Sustainable agriculture gives equal weight to environmental, social, and economic concerns in agriculture.

• Agricultural sustainability rests on the principle that we must meet the needs of the present without compromising the ability of future generations to meet their own needs.

• So, it aims to reduce the input of chemicals, maximise economic value and environmental health.

16. MUDRA refers to________. [RRB Group 'D' CBT Exam, 28.09.2022 (Shift-II)]

(1) Micro Units Development and Refinance Agency
(2) Medium Units Development and Regulatory Agency
(3) Medium Units Developed and Refinance Association
(4) Micro Units Developing and Regulatory Agency

Correct Answer: (1) Micro Units Development and Refinance Agency

Solution:The acronym MUDRA stands for Micro Units Development and Refinance Agenсу.

• It is a public sector financial institution in India that provides loans at low rates to micro-finance institutions and non-banking financial institutions which then provide credit to MSMEs.

• It was launched by Prime Minister Narendra Modi on 8 April 2015.

17. As per performance of the Indian states, which of the following states was in the 'Front Runner' category in the NITI Aayog SDG India Index 2020-21? [RRB Group 'D' CBT Exam, 28.09.2022 (Shift-II)]

(1) Tripura
(2) Manipur
(3) Madhya Pradesh
(4) West Bengal

Correct Answer: (1) Tripura

Solution:Kerala retained the top rank in Niti Aayog's SDG India Index 2020-21 that was released in June 2021.

• Uttarakhand, Gujarat. Maharashtra, Mizoram, Punjab, Haryana, Tripura, Delhi, Lakshadweep, Andaman and Nicobar Islands, Jammu and Kashmir and Ladakh were placed in the category of front-runners..

18. The sum of average variable cost and average fixed cost is known as________. [RRB Group 'D' CBT Exam, 28.09.2022 (Shift-II)]

(1) total cost
(2) average cost
(3) marginal cost
(4) actual cost

Correct Answer: (2) average cost

Solution:Average Total Cost (ATC) Or Average Cost (AC)refers to the per unit total cost of production.

• It is calculated by dividing TC by total output.

• Average cost is also defined as the sum of average fixed cost and average variable cost.AC= AFC + AVC

19. In the context of five year planning in India. the period from 1966 to 1969 was a period of_________. [RRB Group 'D' CBT Exam, 28.09.2022 (Shift-II)]

(1) 3rd plan
(2) 4th plan
(3) no plan
(4) three annual plans

Correct Answer: (4) three annual plans

Solution:Due to failure of the Third Plan the government was forced to declare "plan holidays" (from 1966-67, 1967-68, and 1968-69).

• Three annual plans were drawn during this intervening period.

• The main reasons for plan holidays were the war, lack of resources and Increase in inflation.

20. In relation to consumer behaviour, two indifference curves________. [RRB Group 'D' CBT Exam, 28.09.2022 (Shift-II)]

(1) intersect each other at 120 degrees.
(2) always Intersect each other at right angles.
(3) never intersect each other
(4) Intersect each other at 45 degrees.

Correct Answer: (3) never intersect each other

Solution:As two indifference curves cannot represent the same level of satisfaction, they cannot intersect each other.

• It is because at the point of tangency, the higher curve will give as much as of the two commodities as is given by the lower indifference curve. This is absurd and impossible.

• It means only one indifference curve will pass through a given point on an indifference map.

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