Know Your World - 51

1. When had India a plan holiday?

After the drought of 1966

2. During which Plan did prices show a decline?

First

3. Which bank is the Banker of the Banks?

RBI

4. When was the Reserve Bank of India taken over by the Government?

1948

5. Which is the tax that takes away a higher proportion of one’s income as the income rises?

Progressive tax

6. With which country is “Orange Revolution” associated?

Ukraine

7. What is the mean of Invisible Export?

Export Services

8. Which committee was assigned to recommend reforms in the insurance sector?

Malhotra Committee

9. When was the Rolling plan designed?

1978-83

10. Why does the Issue Department of the RBI maintain against printing of note?

Minimum Reserve System

11. From when was the Zero Base Budgeting in India first experimented?

April, 1987

12. What is an essential attribute of inflation?

Increase in prices

13. What is the best means of saving during inflation?

Money

14. Which is the oldest ‘stock exchange of India?

Bombay Stock Exchange

15. Which situation makes a firm most efficient?

Lowest average costs

16. What is meant by ‘Underwriting’, the term frequently used in financial sector?

Under valuation of the assets.

17. From the view of International economy, What does third World imply?

The developing countries

18. Which Committee was formed to suggest means for eradicating black money?

Cheiliah Committee

19. What is the situation with increasing unemployment and inflation termed?

Stagflation

20. If the cash-reserve ratio is lowered by the Central bank, what will be its effect on credit creation?

Increase

21. Which provides the largest part of the demand for loan able funds in India?

Corporate businesses

22. What is the main source of revenue to meet different expenditures?

Internal borrowings

23. From which sector is the largest contribution in India’s National Income?

Tertiary sector

24. In which policy India opted for ‘Mixed Economy’?

Industrial Policy of 1948

25. What is the task of the Planning Commission?

Preparation of the plan

26. Which Mahatma Gandhi series of currency notes issued by the RBI has “ecology” depicted on it?

Rs. 100

27. Which is the regulatory authority for giving clearance for External Commercial borrowing?

RBI

28. With which Economic growth is usually coupled?

Inflation

29. In which year was Minimum inflation in post economic reform?

1999-2000

30. What does Inflation imply?

Rise in general price index

Know Your World - 50

1. Terms of economics, which recession occurring two times with a small gap in between?

Deep Recession

2. Which is the place where bankers meet and settle their mutual claims and accounts?

Clearing House

3. Kautilya’s ‘Arthashastra’ deals with the aspects of which policies?

Political policies

4. Which organizations agency is involved in drafting the Union Budget of India?

Administrative Ministries only

5. What does National income ignore?

Salary of employees

6. Who is the founder of world Economic Forum?

Klaus Schwab

7. Stock Exchanges play a role in an economy how may it be termed?

Useful but need strict regulation

8. CENVAT is associated with which rate?

Rate of indirect tax

9. Taxation and the government’s expenditure policy are dealt under which policy?

Fiscal policy

10. For internal financing of Five Year Plans, the government depends on which source?

Taxation only

11. Which rural bank has been named after a river?

Varada Grameen Bank

12. ‘Asian Drama’, by Gunnar Karl Myrdal, is a book on which subjects?

Economics

13. What is the sum total of incomes received for the services of labour, land or capital in a country?

National income

14. Unemployment occurs when workers move from one job to another job?

Frictional unemployment

15. Which type of unemployment mostly found in India?

Disguised

16. Which is called a “banker’s cheque”?

Demand draft

17. Why is the Gross National Income always more than Net National Income?

Direct taxes

18. Who was the first Deputy Chairman of Planning Commission of India?

Shri V. T. Krishnamachari

19. To which duties is the system of value added taxation applicable?

Excise duties

20. How many of Banks were nationalized since 1969?

20

21. Which tax is levied by the Union and collected and appropriated by the States?

Stamp Duties

22. Is Tax on entertainment a direct tax?

no

23. Are Agricultural farmers protected against inflation?

no

24. By which bill does the government make arrangement for the collection of revenues for a year?

Finance Bill

25. Which is the ‘basis for determining the national income?

Production of goods and services

26. What is the mean of ‘Take off stage’ in an economy?

Steady growth begins

27. When was EXIM Bank set-up?

1982

28. Which is at the apex of Industrial Finance in India?

Industrial Development Bank of India

29. What is the most appropriate measure of a country’s economic growth?

Per capita real income

30. Of the various ways of financing government’s investment expenditure, what is the least inflationary?

Taxation

Know Your World - 49

1. The small and marginal farmers will get irrigation facilities through which plan?

Ganga Kalyan Yojna

2. The levying of which following taxes is outside the jurisdiction of Municipal Corporation?

Income Tax

3. Which is the most important item of non-plan expenditure?

Interest payment

4. What is the main objective of Antyodaya programme?

Uplift the poor

5. In which year Swarn Jayanti Gram Swa-Rozgar Yojna came into being?

01.04.1999

6. By whom is the Annual Financial Statement caused to be laid before both Houses of Parliament?

President

7. By which is National income of India compiled?

Central Statistical Organisation

8. If saving exceeds investment, how will the national income?

Remain constant

9. By which ministry is Economic survey published?

Ministry of Finance

10. In which of the Parliamentary Financial Committees is the Rajya Sabha not represented?

Estimates Committee

11. From which fund are the salaries of the Judges of the Supreme Court drawn?

Consolidated Fund

12. On which do Companies pay Corporation Tax?

Incomes

13. On which day is the budget, in normal circumstances, presented to the Parliament?

The last day of February

14. Which organization was established as the Bretton Woods Conference in 1944?

IMF

15. Which is the largest Committee of the Parliament?

The Estimates Committee

16. Which tax is not levied by the Union Government?

Profession Tax

17. Who signs on ten rupee notes?

Governor (Reserve Bank of India)

18. When was the decimal system of currency introduced in India?

1957

19. What is the investment in public works?

Capital expenditure

20. Which industry does not earn foreign exchange for India?

Fertilizers

21. What does Net factor income from abroad added to GDP give?

GNP

22. Why is Poverty in less developed countries largely?

Due to income inequality

23. Who is most benefitted from inflation?

Debtors

24. What are “Open Market Operations”?

Selling of gilt edged securities by the Government

25. Which is the ‘Slack Season’ in the Indian Economy?

Jan.-June

26. On which is based the India’s wage policy?

Cost of living

27. Which can be used for checking inflation temporarily?

Decrease in money supply

28. What does real national income denote?

National income at constant prices

29. Under VAT, how many slabs are there?

4

30. What is the cause of inflation?

Increase in money supply and fall in production

Know Your World - 48

1. By which band is Monetary policy regulated?

Central Bank

2. Which One feature is distinguishing the Rajya Sabha from the Bidhan Parishad?

Indirect election

3. If the price of an inferior good falls, what about its demand?

Remains constant

4. In which sector is 70% of working population of India engaged?

Primary sector

5. In India, in which banking is the Public Sector is most dominant?

Commercial banking

6. Which is the largest Public Sector Bank in India?

State Bank of India

7. Who is responsible for the collection and publication of monetary and financial information?

Reserve Bank of India

8. With which was Tarapore Committee associated?

Fuller capital account convertibility

9. To which Bill the President must accord his sanction without sending it back for fresh consideration?

Finance Bills

10. Among Indian Economists who had done pioneering work on National Income?

V. K. R. V. Rao

11. Who was the chairman of National Income Committee?

P. C. Mahalanobis

12. How is the contribution of agriculture to India’s economy?

Decreasing

13. Which body finalizes the Five Year Plan proposals?

National Development Council

14. Of which purpose was Nationalization of banks done?

Consolidating the economy

15. Word Bull and Big are associated with which branch of commercial activity?

Share Market

16. Chanda Kochhar leads to which of the organization?

ICICI Bank

17. Of which allocation does Gadgil Formula refer to?

Tax proceeds between the States

18. What is the principal source of revenue to the State Government in India?

Sales Tax

19. By whom was the first attempt to initiate economic planning in India made?

By M. Visvesvaraya

20. Bouncing of cheques has become an offence. What is the punishment for the same?

6 months imprisonment

21. In which year, some more commercial banks in addition to the first lot of 141 were nationalized in India?

1980

22. When did East African Development Bank come into force?

1967

23. Which forms the largest share of deficit in Govt. of India budget?

Fiscal deficit

24. Which scheme was intended to tap the black money?

India Development Bonds

25. Which bank prints currency notes of the denomination of Rs. 100?

The Bank Note Press, Dewas

26. Before 31st August, 1965 how many members were in the Economic and Social Council?

18

27. What is the effect of inflation on tax revenue results in a situation?

Fiscal drag

28. Which part of separated UTI is under SEBI’s regulation?

UTI-II

29. By which bank are the central banking functions in India performed?

Reserve Bank of India

30. From where does the National Stock Exchange functions?

Mumbai

Know Your World - 47

1. Which tissue takes part in healing the wounds?

Epithelium tissue

2. Temporary hardness of water is due to the presence of which thing?

Magnesium bicarbonate

3. Which energy does not have the problem of pollution?

Sun

4. What is a suitable unit for expressing electric field strength?

N/C

5. Which air pollutant affect the nervous system of man?

Lead

6. Which oxyacid of halogen has maximum acidic nature?

HClO4

7. The greatest threat to organisms and biodiversity in which process?

Process of habitat loss

8. The unidirectional property of a pn-junction is useful for its use as which thing?

Rectifier

9. Which animals have a diet mainly consisting of bamboo?

Red pandas

10. Thermal decomposition of alkanes is known as which name?

Cracking

11. Which energy of the electron at absolute zero is called?

Fermi energy

12. What is the characteristic odour of garlic?

A sulphur compound

13. What can be the maximum duration of totality for a solar eclipse?

7 minutes 40 seconds

14. Which is the vitamin that is most readily manufactured in our bodies?

Vitamin D

15. In human body, which are the leg bones?

Humerus and Femur

16. Which of the following is good nuclear fuel?

Plutonium-239

17. In metabolism, how enzymes act?

As catalyst

18. Which is the essential element in all organic compounds?

Carbon

19. By which plants is the maximum fixation of solar energy done?

Green plants

20. What is the wavelength of visible spectrum?

3900-7600 A

21. Which animal resembles most to human beings in terms of physical and mental capabilities?

Chimpanzee

22. Salts of which element pre vide colours to fireworks?

Strontium and barium

23. ORT (Oral Rehydration Therapy) is associated with the treatment of which disease?

Diarrhea

24. To suspect HIV/AIDS in a young individual, which symptom is mostly associated with?

Chronic diarrhea

25. We cannot see during a fog. Why?

Because of scattering of light

26. Which type of coal is difficult to light in the open air?

Peat

27. Leukemia or blood cancer is characterized by abnormal increase of which cells?

White blood cells

28. What does Oxidation involve?

Loss of electrons

29. Which Part of plant is important for the life cycle of plant?

Flower

30. What will be If a pendulum clock be taken from the earth to a revolving artificial satellite?

It will stop altogether

Know Your World - 46

1. Which is an insectivorous plant?

Pitcher plant

2. In colourful diamond, Why are different colours present?

Due to impurities

3. Which plant is referred to as a living fossil?

Gingko

4. Which physical quantities have the same dimensions?

Momentum and impulse

5. Which crop would be preferred for sowing in order to enrich the soil with nitrogen?

Gram

6. What is the number of unpaired electrons in carbon atom?

2

7. Which mammal rolls itself into ball at the time of danger?

Hedgehog

8. When some detergent is added to water, what will be the surface tension?

Increases

9. How many chambers are found in the heart of frog?

3

10. In an atom the order of filling up of the orbitals is governed by which principle?

Aufbau principle

11. Sex determination of child is done by whose chromosome?

Father

12. Who firstly demonstrated experimentally the existence of electromagnetic wave?

Hertz

13. What is the effect of over secretion of hormone from pituitary gland?

Increase growth in length

14. Heating pyrites in air to remove sulphur is known as which name?

Roasting

15. By whom the concept of survival of the fittest as advanced?

Herbert Spencer

16. There is no net transfer of energy by the particles of the medium in which waves?

Stationary waves

17. Moho discontinuity lies at the depth of approximately how many kilometers?

400 km

18. From the evolutionary point of view, which is the most primitive animal?

Turtle

19. What is reduction of oxide with carbon at high temperature called?

Smelting

20. Conversion of chemical energy into electrical energy occurs in which thing?

Battery

21. Purification of petroleum is carried out by which method?

Fractional distillation

22. Thick stems and thorny wax coated leaves are commonly found in which area?

Deserts

23. What is the short upper part of the human intestine next to the stomach?

Duodenum

24. Where will be the Time period in a vibration magnetometer infinite?

At magnetic pole

25. Which technique can be used to establish the paternity of a child?

Quantitative analysis of DNA

26. Which petroleum refinery product has the lowest boiling point?

Gasoline

27. By whom was Gene first isolated?

Hargobind Khurana

28. By which impact is Nuclear fission is caused?

Neutron

29. By who was Insulin discovered?

Dr. F G. Banting

30. Which is purest form of iron?

Wrought iron

Know Your World - 45

1. From which part of the plant is turmeric obtained?

Stem

2. In order of their distances from the Sun, which planet lies between Mars and Uranus?

Jupiter and Saturn

3. Which is used as a coolant in nuclear reactors?

Liquid sodium

4. Meghnad Saha is known for his contribution in which field?

Physics

5. Which part of cinchona plant yields quinine?

Bark

6. Liquefied Petroleum Gas consists of mainly which gases?

Methane, butane and propane

7. Which cytoplasm organelles are treated as prokaryotic cells within the eukaryotic cells?

Glyoxysomes

8. When milk is churned, how does the cream separate from it?

Due to the centrifugal force

9. When did man first land on moon?

1969

10. Which is the secondary source of light in a fluorescent lamp?

Mercury vapour

11. Archaeopteryx had which reptilian characters?

Clawed wings, teeth on jaw, tail

12. Which elements are obtained from sea weeds?

Iodine

13. By using which technique, is DNA fingerprint done?

Southern Blotting

14. Which Bacteria convert atmospheric nitrogen into nitrogenous compound?

Nitrogen fixing bacteria

15. Sound travels faster in which thing?

Iron than in air

16. Which type of microorganism is most widely used in industries?

Bacteria, microalgae and fungi.

17. In fireworks, how is the green flame produced?

Because of barium

18. Water will be absorbed by root hairs, then how is when the external medium?

Hypotonic

19. Who does a liquid drop tend to assume a spherical shape?

Surface tension

20. What is an instrument for measuring the rate of transpiration?

Potometer

21. Which reflects back more sunlight as compared to other three?

Land covered with fresh snow

22. Which substance does not have a melting point?

Glass

23. For which snake is the diet mainly composed of their snakes?

King Cobra

24. What minimum number of non-zero non-collinear vectors is required to produce a zero vector?

3

25. What structure is common to both earthworm and cockroach?

Ventral nerve cord

26. By which a mixture of sand and naphthalene can be separated?

Sublimation

27. Which part of human brain is the regulating centre for swallowing and vomiting?

Medulla oblongata

28. By which Radio waves of constant amplitude can be generated?

Oscillator

29. Which is used to know the development of foetus in uterus?

Ultrasound

30. Which oil is used in the floatation method for the purification of ores?

Pine oil