Economics (Railway)

Total Questions: 50

11. Which of these cities located in the state of Gujarat is famous for its diamond industry? [RRB ALP & Technician Exam, 20.08.2018 Shift-III]

(1) Vadodara
(2) Ahmedabad
(3) Rajkot
(4) Surat

Correct Answer: (4) Surat

Solution:Surat in Gujarat, famous for its diamond cutting and polishing is known as the Diamond City of India. The first diamond workshops in Gujarat appeared in Surat and Navasari in the late 1950s.

12. A bank always has a/an: [RRB ALP & Technician Exam, 21.08.2018 Shift-I]

(1) Account holder
(2) Manager
(3) Locker
(4) ATM

Correct Answer: (1) Account holder

Solution:A bank is a financial institution that accepts deposits from the public and creates credit. Banks act as payment agents by conducting checking or current accounts for customers, paying cheques drawn by customers in the bank, and collecting cheques deposited to customers' current accounts. So, account holders are essential feature for any bank. Manager, locker and ATM are dispensable features associated with a bank.

13. What is the highest percentage slab for GST in India? [RRB ALP & Technician Exam, 29.08.2018 Shift-I]

(1) 20%
(2) 32%
(3) 25%
(4) 28%

Correct Answer: (4) 28%

Solution:Goods and services tax (GST) is imposed at variable rates on variable items. It is divided into five tax slabs for collection of tax 0%, 5%, 12%, 18% and 28%. The highest slab of 28% tax is imposed on luxury and sinful items. The number of items in the top slab is 28, including luxury goods, a few automobile and cement items.

14. The latest issued bank notes in the denomination of ₹50 by RBI have what motif on their reverse side? [RRB ALP & Technician Exam, 31.08.2018 Shift-I]

(1) Mangalyaan
(2) Sanchi Stupa
(3) Red Fort
(4) Stone chariot of Hampi

Correct Answer: (4) Stone chariot of Hampi

Solution:The Reserve Bank of India (RBI) in August 2017 announced circulation of new currency denomination of 50 banknotes in the Mahatma Gandhi (New) Series. Bearing signature of RBI Governor Urjit Patel, the new denomination has motif of Hampi with Chariot on the reverse, depicting the country's cultural heritage.

15. Name the famous national institute that was founded by Indian scientist Prasanta Chandra Mahalanobis in the year 1931. [RRB RPF/RPSF SI Exam, 04.09.2018 Shift-I]

(1) IIM Kolkata
(2) Indian Statistical Institute
(3) National Academy of Construction
(4) National Academy of Agricultural Research

Correct Answer: (2) Indian Statistical Institute

Solution:The Indian Statistical Institute grew out of the Statistical Laboratory set up by Prasanta Chandra Mahalanobis in Presidency College, Kolkata. Established in 1931, it was relocated to a property owned by Professor Mahalanobis, named "Amrapali", in Baranagar, near Kolkata, in 1953.

16. The main objective of the Ecnomic Responsibility and Budget Management (FRBM) Act (FRBM) is_________. [RRB RPF/RPSF SI Exam, 06.01.2019 Shift-II]

(1) Improvement in law sector
(2) Economic Aggregation
(3) Tax devaluation for states
(4) Increasing Government spending

Correct Answer: (2) Economic Aggregation

Solution:The Fiscal Responsibility and Budget Management (FRBM) Act was enacted in 2003 which set targets for the government to reduce fiscal deficits. The targets were put off several times. In May 2016, the government set up a committee under NK Singh to review the FRBM Act. The committee recommended that the government should target a fiscal deficit of 3 percent of the GDP in years up to March 31, 2020 cut it to 2.8 per cent in 2020-21 and to 2.5 per cent by 2023.

17. The rate at which the bank lends to banks is called______ [RRB RPF/RPSF SI Exam, 06.01.2019 Shift-II]

(1) Open Market Rate
(2) Bank Rate
(3) Reverse Repo Rate
(4) Repo Rate

Correct Answer: (2) Bank Rate

Solution:Bank rate is the rate charged by the central bank for lending funds to commercial banks. Bank rates influence lending rates of commercial banks. Higher bank rate will translate to higher lending rates by the banks. In order to curb liquidity, the central bank can resort to raising the bank rate and vice versa.

18. ______The country has made national planning for the first time. [RRB RPF/RPSF SI Exam, 06.01.2019 Shift-II]

(1) India
(2) Russia
(3) China
(4) America

Correct Answer: (2) Russia

Solution:Five-Year Plans, the method of planning economic growth over limited periods, through the use of quotas, was used first in the Soviet Union and later in other socialist states, In the Soviet Union, the first Five-Year Plan (1928-32); implemented by Joseph Stalin, concentrated on developing heavy industry and collectivizing agriculture, at the cost of a drastic fall in consumer goods.

19. Which method is used to convert units of one system into another system? [RRB RPF/RPSF SI Exam, 06.01.2019 Shift-II]

(5) Unit analysis
(1) Legal Marking
(2) Accuracy
(3) Quantification
(4) Precision

Correct Answer: (5) Unit analysis

Solution:Unit analysis is a form of proportional reasoning where a given measurement can be multiplied by a known proportion or ratio to give a result having a different unit or dimension. Sometimes, it is necessary to deal with measurements that are very small (as in the size of an atom) or very large (as in numbers of atorns). In these cases, it is often necessary to convert between units of metric measurement.

20. In 1945 the people's plan was prepared by________. [RRB RPF/RPSF SI Exam, 06.01.2019 Shift-II]

(1) Jaiprakash Narayan
(2) M.N. Roy
(3) J.R.D. Tata
(4) Jawaharlal Nehru

Correct Answer: (2) M.N. Roy

Solution:People's plan was drafted by MN Roy in 1945. This plan was for ten years period and gave greatest priority to Agriculture. Nationalization of all agriculture and production was the main feature of this plan. This plan was based on Marxist socialism and drafted by M N Roy on behalf of the Indian federation of Lahore.

« Previous 123 4 5 Next »