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Mission WBCS (Exe.) 2019 Prelims and Mains Daily Mock Test Arijit Basu Chowdhury
West Bengal Civil Services Graduate in History from St.Paul's Cathedral Mission College, Kolkata . Interests: Fitness , Current Affairs ,Burning Issues, Music, News Analysis . You can follow me on UNACADEMY- https://unacademy.com/user/ArijitBasuChowdhury Life has two rules: 1) Never quit. 2) Always remember Rule #1 . Rate , Review & Recommend
Daily Mock Test (Indian Economy) 1. Value of Total Goods and services produced in a country is its . a) Gross Domestic Product b) Gross Revenue Income c) Total Goods Revenue 2. Micro-economics is also called a) Income theory b) Investment theory c) Price theory d) Expenditure theor 3. A 'Market Economy is one which a) Is controlled by the Government b) Is free from the Government control c) In influenced by international market forces d) All of these d) Total Income
Daily Mock Test (Indian Economy) 4. The Economic development depends on a) Natural resources b) Capital formation c) Size of the market d) All of these 5. What are the main components of basic social infrastructure of an economy? a) Education, Industry and Agriculture b) Education, Health and Civil Amenities c) Transport, Health and Banks d) Industry, Trade and Transport 6. The theory of distribution relates to which of the following? a) The distribution of assets c) The distribution of factor payments d) Equality in the distribution of the income and wealth b) The distribution of only income
Daily Mock Test (Indian Economy) 7. The concept of joint sector implies cooperation between a) Public sector and private sector industries b) State Government and Central Government c) Domestic and Foreign Companies d) None of these 8. Hire and Fire' is the policy of a) Capitalism b) Socialism c) Mixed economy d) Traditional economy 9. Which of the following is a part of tertiary sector? a) Power and Transportation b) Animal Husbandry c) Cotton Manufacturing d) Cultivation of Crops
Daily Mock Test (Indian Economy) 10. A closed economy is one whiclh a) Does not trade with other countries b) Does not possess any means of international transport c) Does not have a coastal line d) Is not a member of the UTO 11. Merchant Banking is an institution which provides finances to a) domestic whole sale trade b) international trade among countries c) domestic retail trade among d) international aid agencies
Daily Mock Test (Indian Economy) 12. The system of issuing and monitoring of money in the market is known as a) Proportional reserve ratio b) Fixed reserve ratic c) Minimum reserve ratio d) Floating reserve ratio 13. Which among the following Indian State does not transacts its business through Reserve Bank of India? a) Tripura b) Jammu and Kashmir c) Arunachal Pradesh d) Assam
Daily Mock Test (Indian Economy) 14. Which among the following subjects is not an aim of the monetary policy of the Reserve Bank of India? a) Giving impetus to economic development b) Direct credit with objective criteria c) To control pressure of inflation d) To ensure social justice 15. The Government of India made it obligatory on the part of all commercial banks that they should give some cash amount while purchasing Government bonds. What would you call this? a) Statutory Liquidity Ratio b) Cash Reserve Ratio c) Minimum Reserve Ratio d) Floating Reserve Ratio
Daily Mock Test (Indian Economy) a) Gross Domestic Product Gross domestic product is the monetary value of all the finished goods and services produced within a country's borders in a specific time period c) Price theory Price theory, also known as microeconomics, is concerned with the economic behaviour or individual consumers, producers, and resource owners. b) Is free from the Government control 1. . 2. 3. .A market economy is an economic system in which economic decisions and the pricing of goods and services are guided solely by the aggregate interactions of a country's individual citizens and businesses. There is little government intervention or central planning. .
Daily Mock Test (Indian Economy) 7. a) Public sector and private sector industries . The joint sector would include units in which both public and private investments have taken place and where the state takes an active part in direction and control 8. a) Capitalism Capitalism is an economic system based on the freedom of private ownership of the means of production and their operation for profit . 9. a) Power and Transportation The tertiary industry is the segment of the economy that provides services to its consumers, including a wide range of businesses such as financial institutions, schools and restaurants. It is also known as the tertiary sector or service industry sector . 10. a) Does not trade with other countries
Daily Mock Test (Indian Economy) 11. b) international trade among countries . A merchant bank is a company that deals mostly in international finance, business loans for companies and underwriting. These banks are experts in international trade, which makes them specialists in dealing with multinational corporations. . 12. c) Minimum reserve ratio The relationship between note issue and its reserve backing is usually done on the basis of a reserve system by central banks across the world. The reserve system provides guidelines for the issue of new currencies. . 13. b) Jammu and Kashmir ( State Government transactions are carried out by RBI in terms of the agreement entered into with the State Governments in terms of section 21A of the Act. As of now, such agreements exist between RBI and all the State Governments except with the Governments of Jammu and Kashmir and Sikkim .
Daily Mock Test (Indian Economy) 14. d) To ensure social justice . The primary objective of monetary policy is to maintain price stability while keeping in mind the objective of growth . Price stability is a necessary precondition to sustainable growth 15. a) Statutory Liquidity Ratio Statutory liquidity ratio (SLR) is the Indian government term for the reserve requirement that the commercial banks in India are required to maintain in the form of cash, gold, government approved securities before providing credit to the customers.