Economics (Railway)

Total Questions: 50

31. According to WTO, the motion of Economy in the whole world by unrestricted transportation of goods and services, capital and man power across the world is called: [RRB RPF/RPSF SI Exam,11.01.2019 Shift-II]

(1) Globalisation
(2) Modernisation
(3) Privatisation
(4) Liberalisation

Correct Answer: (1) Globalisation

Solution:Globalisation refers to the integration of markets in the global economy, leading to the increased interconnectedness of national economies. It is the process by which the world is becoming increasingly Interconnected as a result of massively increased trade and cultural exchange. It has increased the production of goods and services.

32. The FCI is selling wheat at times in the open market at prefixed prices. This is called [RRB RPF/RPSF SI Exam, 11.01.2019 Shift-II]

(1) Minimum selling price of wheat
(2) Selling programme of wheat
(3) Online wheat selling programme
(4) Open market selling scheme

Correct Answer: (4) Open market selling scheme

Solution:Open Market Sale Scheme (OMSS) refers to selling of foodgrains by Government / Government agencies at predetermined prices in the open market from time to time to enhance the supply of grains especially during the lean season and thereby to moderate the general open market prices especially in the deficit regions. The FCI conducts a weekly auction to conduct this scheme in the open market using the platform of commodity exchange NCDEX (National Commodity and Derivatives Exchange Limited).

33. Which organisation determine the GDP of India? [RRB RPF/RPSF SI Exam,11.01.2019 Shift-III]

(1) Central statistical organisation
(2) Finance Ministry
(3) Finance Commission
(4) Permanent Commission

Correct Answer: (1) Central statistical organisation

Solution:The Central Statistics Office (CSO) is a governmental agency in India under the Ministry of Statistics and Programme Implementation responsible for coordination of statistical activities in India and evolving and maintaining statistical standards. This Division is responsible for the preparation of national accounts, which includes Gross Domestic Product, Government and Private Final Consumption Expenditure. Fixed Capital Formation and other macro-economic aggregates.

34. Which of the following is not the characteristic of recession? [RRB RPF/RPSF SI Exam, 11.01.2019 Shift-III]

(1) Collapse in employment rate
(2) decrease in prices of product by industries
(3) Jump in inflation
(4) decrease in demand

Correct Answer: (3) Jump in inflation

Solution:Inflation refers to a general rise in the prices of goods and services over a period of time. In an inflationary environment, people tend to cut out leisure spending, reduce overall spending and begin to save more. As individuals and businesses curtail expenditures in an effort to trim costs, GDP declines and unemployment rates rise because companies lay off workers to reduce costs. It is these combined factors that cause the economy to fall Into a recession.

35. Who among the following is final creditors? [RRB RPF/KPSF SI Exam, 11.01.2019 Shift-III]

(1) Prime Minister of India
(2) Reserve Bank of India
(3) President of India
(4) Parliament

Correct Answer: (2) Reserve Bank of India

Solution:Under the Reserve Bank of India Act, 1934 and the Banking Regulation Act, 1949 (as amended from time to time). the RBI enjoys extensive powers of supervision, regulation, and control over commercial and cooperative banks. As bankers' bank, the RBI holds a part of the cash reserves of banks, lends them funds for short periods, and provides them with centralised clearing and cheap and quick remittance facilities.

36. Which of the following decides the Authoritative House Price Index? [RRB RPF/RPSF SI Exam, 11.01.2019 Shift-III]

(1) LIC housing Finance Limited
(2) National Housing Bank
(3) Reserve Bank of India
(4) Labour Bureau

Correct Answer: (2) National Housing Bank

Solution:NHB Residex from the National Housing Bank, offers two sets of quarterly Housing Price Indices (HPIs) across the cities it tracks. List prices of under-construction property. collated through a survey of developers, are captured in the 'Market HPI'. Data reported by banks and finance companies that extend home loans, is collated into the 'Assessment HPI'.

37. Which of the following fiveyear plan was implemented with the slogan 'Garibi Hatao? [RRB RPF/RPSF SI Exam, 12.01.2019 Shift-II]

(1) Seventh Five-Year Plan
(2) Eighth Five-Year Plan
(3) Fifth Five-Year Plan
(4) Sixth Five-Year Plan

Correct Answer: (3) Fifth Five-Year Plan

Solution:The Fifth Five-Year Plan laid stress on employment, poverty alleviation (Garibi Hatao), and justice. The pian also focused on self-reliance in agricultural production and defence. The Minimum Needs Programme (MNP) was introduced in the first year of the Fifth Five-Year Plan (1974-78). The objective of the programme is to provide certain basic minimum needs and thereby improve the living standards of the people.

38. in relation to the National Agricultural Market, the following statements is not correct? [RRB RPF/RPSF SI Exam, 12.01.2019 Shift-III]

(1) It provides a common emarket platform.
(2) It was established in 2015 by the Government of India.
(3) It has a provision for electronic auction.
(4) It provides multiple licenses for different states.

Correct Answer: (4) It provides multiple licenses for different states.

Solution:With the objective to usher reforms in the agri-marketing sector and promote online marketing of agri commodities across the country and to provide maximum benefit to the farmers, the Government has approved a scheme to implement National Agriculture Market (NAM) in 2015.

• Under the scheme, a web based platform has been deployed across 585 regulated markets to promote online trading, digitalization of entire functioning of markets outline gate entry, lot making, bidding, generation of e-sale agreement and e- payment etc., remove information asymmetry, Increase transparency in the transaction process and enhance accessibility to markets across the country

39. What is the minimum amount of capital required for setting up small and payment banks? [RRB RPF/RPSF SI Exam, 12.01.2019 Shift-III]

(1) 25 crores
(2) 50 crores
(3) 250 crores
(4) 100 crores

Correct Answer: (4) 100 crores

Solution:The Reserve Bank of India (RBI) has set a minimuin paidup capital of Rs. 100 crore for those who wish to set up payments and small banks. The activities of a payments bank will be restricted to acceptance of demand deposits, and pro-vision of payments and remit-tances services. A payments bank cannot set up subsidiaries to undertake non-banking financial activities. The payments bank/small bank will be registered as a public limited company.

40. The PDS scheme was restructured as Targeted PDS- [RRB RPF/RPSF SI Exam, 12.01.2019 Shift-III]

(1) in 1997
(2) in 1996
(3) in 1998
(4) in 1999

Correct Answer: (1) in 1997

Solution:The Public Distribution System (PDS) in the country facilitates the supply of food grains and distribution of essential commodities to a large number of poor people through a network of Fair Price Shops at a subsidized price on a recurring basis. To remove the loopholes of this system, government relaunched the Targeted Public Distribution System (TPDS) in June, 1997 with focus on the poor. Under the TPDS, States were required to formulate and implement fool proof arrangements for the identification of the poor for delivery of food grains.

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