RBI GRADE ‘B’ OFFICER’S EXAM Held on : 06.02.2011 (Part-I)

11. In economic terms, which of the following factors determine the 'Individual's demand' of a product/commodity ?

(A) Price of a commodity.

(B) Income of the individual.

(C) Utility and quality of a commodity

Correct Answer: (5) All (A), (B) & (C)

Solution:Only (A)

12. Which of the following terms is used in the field of economics ?

Correct Answer: (4) Barter System

Solution:The demand for anything at a given price is the amount of it which will be bought per unit of time at that price.

13. "Pascal Lamy calls on trade negotiators to move out of their comfort zones towards agreements", was the headline in some major newspapers. This news is associated with which of the following organizations / agencies ?

Correct Answer: (3) World Bank

Solution:Except 'barter system' all other terms are used in the field of science.

14. Which of the following is NOT a function of the Planning Commission of India ?

(1) Assessment of the material, capital and human resources of the country
(2) Formulation of plans for the most effective and balanced utilization of country's resources
(3) Public cooperation in national development
(4) Preparation of annual budget of the country and collection of taxes to raise capital for the implementation of the plans
(5) Determination of stages in which the plan should be carried out

Correct Answer: (4) Preparation of annual budget of the country and collection of taxes to raise capital for the implementation of the plans

Solution:World Bank

15. Which of the following periods represents the period of the first Five Year Plan in India ?

Correct Answer: (5) 1951-56

Solution:Preparation of annual budget of the country and collection of taxes to raise capital for the implementation of the plans

16. Which of the following is the name of the process available to common people to seek court's intervention in matters of public interest ?

Correct Answer: (1) Public Interest Litigation (PIL)

Solution:1951-56

17. India's foreign policy is based on several principles, one of which is _______ .

Correct Answer: (1) Panchsheel

Solution:Public Interest Litigation (PIL)

18. As we know thousands of tonnes of foodgrain was washed away in the floods in Haryana and Punjab a few months back. This incident is an example which indicates that there is a scope for improvement in our machinery controlling our ______ .

Correct Answer: (4) Village Grain Bank Scheme

Solution:Panchsheel

19. President Barack Obama was on a visit to India a few months back. His visit is said to have forged both the nations into a new era of relations. India managed to sign a special agreement with US in which of the following fields/areas as a byproduct of the visit of Obama ?

(A) Energy sector & Nuclear energy as US has lifted sanctions on supply of high tech machines.

(B) Skill Development Programmes in IT sector in which US has superspecialisation.

(C) Training in management of Micro finance Institutions

Correct Answer: (5) Only (A) and (B)

Solution:Village Grain Bank Scheme

20. Many times we read a term 'Tax Haven' in various newspapers. What does it mean ?

(A) It is a country where certain taxes are levied at a very low rate.

(B) It is a country where people can dump their illegal money without any problem.

(C) It is a place where foreigners can work without paying any tax on their income

Correct Answer: (2) Only (B)

Solution:Only (A) & (B)