Economics (Railway)

Total Questions: 50

41. Which of the following is an Indirect tax? [RRB RPF/RPSF SI Exam, 12.01.2019 Shift-III]

(1) Goods and Services Tax
(2) Income tax
(3) Minimum Alternate Tax
(4) Corporate Tax

Correct Answer: (1) Goods and Services Tax

Solution:Goods and Services Tax (GST) is an indirect tax) or consumption tax) imposed in India on the supply of goods and services. The tax came into effect from July 1, 2017 through the implementation of One Hundred and First Amendment of the Constitution of India by the Indian government. The tax replaced existing multiple flowing taxes levied by the central and state governments.

42. The first industrial policy of India was declared in- [RRB RPF/RPSF SI Exam, 13.01.2019 Shift-II]

(1) 1952
(2) 1950
(3) 1948
(4) 1956

Correct Answer: (3) 1948

Solution:The first industrial policy after independence was announced on 6th April 1948. It was presented by Dr Shyama Prasad Mukherjee then Indus-try Minister. The main goal of this policy was to accelerate the industrial development by introducing a mixed economy where the private and public sector was accepted as important in the development of the economy.

43. The face value in respect of standard currency is equal to- [RRB RPF/RPSF SI Exam, 13.01.2019 Shift-II]

(1) Intrinsic value
(2) Custom value
(3) Extrinsic value
(4) Token value

Correct Answer: (1) Intrinsic value

Solution:The value of money is of two types, internal value of money and external value of money. The internal value of money refers to the purchasing power of money over domestic goods and services. The external value of money refers to the purchasing power of money over foreign goods and services.

44. What is the full form of 'IPPB'? [RRB RPF/RPSF SI Exam, 13.01.2019 Shift-III]

(1) India Post Payments Bank
(2) India Postal Payment Bank
(3) India Personal Payments Bank
(4) International Post Payments Bank

Correct Answer: (1) India Post Payments Bank

Solution:India Post Payments Bank (IPPB) was setup under the Department of Post, Ministry of Communication with 100% equity owned by Government of India. IPPB was launched as a pilot project on 30 January 2017 in Ranchi (Jharkhand) and Raipur (Chhattisgarh), with the objective of being present across India by the FY 2018-2019.

45. Foreign Currency Convertible Bonds are________ written documents issued by Indian companies in foreign currency which are not or may not be an option for voicing and principal payment. [RRB RPF/RPSF SI Exarfi, 13.01.2019 Shift-III]

(1) Future-loan
(2) Debt
(3) Current-Deposit
(4) Semi-deposit

Correct Answer: (2) Debt

Solution:Treasury Bills are government bonds or debt securities with maturity of less than a year. Treasury Bills, also known as T-bills are the shortterm money market instrument, issued by the central bank on behalf of the government to curb temporary liquidity shortfalls. These do not yield any interest, but issued at a discount, at its redemption price, and repaid at par when it gets matured.

46. Where is the headquarter of 'Pension Fund Regulatory and Development Authority' (PFRDA) located? [RRB RPF/RPSF SI Exam, 13.01.2019 Shift-III]

(1) Kolkata
(2) Mumbai
(3) Hyderabad
(4) New Delhi

Correct Answer: (4) New Delhi

Solution:The Pension Fund Regulatory and Development Authority (PFRDA), a statutory body. is the pension regulator of India which was established by Government of India on August 23, 2003 and was authorized by Ministry of Finance, Department of Financial Services. PFRDA is headquartered at New Delhi with various regional offices.

47. The excess expenditure of government income in excess of the national plan is called- [RRB RPF/RPSF SI Exam, 16.01.2019 Shift-II]

(1) Inflation tax
(2) Inflation gap
(3) Inflation Spiral
(4) Deflation interval

Correct Answer: (2) Inflation gap

Solution:Fiscal deficit is defined as excess of total budget expenditure over total budget receipts excluding borrowings during a fiscal year. Generally fiscal deficit takes place either due to revenue deficit or a major hike in capital expenditure.

48. When was the Public Distribution System restructured as Targeted Public Distribution System? [RRB RPF/RPSF SI Exam, 16.01.2019 Shift-II]

(1) 1999
(2) 1998
(3) 1997
(4) 2000

Correct Answer: (3) 1997

Solution:The Public Distribution System (PDS) evolved as a system of management of scarcity and for distribution of food grains at affordable prices. To remove the loopholes of this system, government re-launched the Targeted Public Distribution System (TPDS) in June, 1997 with focus on the poor. Under the TPDS, States were required to formulate and implement foolproof arrangements for the identification of the poor for delivery of food grains.

49. What is the meaning of an alternative program in economics? [RRB RPF Constable Exam, 17.01.2019 Shift-III]

(1) Long Term Plan
(2) Short Term Plan
(3) Annual Plan
(4) Sliding Scheme

Correct Answer: (1) Long Term Plan

Solution:A long-term plan is also known as a progressive plan.

• The long run refers to a period of time where all factors of production and costs are variable.

50. What is the nature of Indian economy? [RRB RPF Constable Exam, 17.01.2019 Shift-III]

(1) Public Sector
(2) Capital Economy
(3) Private Sector
(4) Mixed Economy

Correct Answer: (4) Mixed Economy

Solution:The main features of mixed economy include coexistence of public and private sectors, economic planning, individual liberty welfare approach towards the disadvantaged section of the society.

• India is a mixed economy; therefore, public, as well as private entities, coexist.

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