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Indian Economy Mcq Questions

Indian Economy Mcq Questions

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Q1. What does Balance of Payment mean?
a) systematic record of all economic transactions between its residents & residents of foreign country
b) a systematic record of non-economic transactions
c) it includes the statements of import & export
d) a only

Q2. Which of the following is a part of capital account?
a) private capital
b) banking capital
c) official capital
d) all of the above

Q3. How Balance of Trade can be defined?
a) it is a difference between foreign & domestic investments
b) a difference between import & export of visible items
c) it considers the expenditure on capital assets
d) it includes current account and capital account

Q4. Consider the following statements and identify the right ones
i) a double entry system of record of all economic transactions between the residents of a country & rest of the world is called balance of trade
ii) all transactions related to goods, services or income are classified as capital account
a) i only
b) ii only
c) both
d) none

Q5. What are the components of current account?
a) Export & import of goods
b) Export & import of services
c) Unilateral transfers from one country to the other
d) All of the above

Important Questions on Balance of Payment

Q6. What a capital account considers?
a) Foreign investment
b) Loans
c) A& b both
d) Taxes

Q7. The investment is productive assets and participation in management as stake holders in business enterprise is
a) FDI (Foreign Direct Investment)
b) FII (Foreign Institutional Investment)
c) Balance Of Payment
d) SDR (Special Drawing Rights)

Q8. Autonomous items of BOP includes
a) items related to profit maximisation
b) which are not meant to establish bop identity
c) a & b both
d) which are meant to establish bop identity

Q9. Which state in BOP is called as Disequilibrium?
a) a state when all surplus of BOP are equal
b) it is that situation when the net balance of all receipts & payment are zero
c) a only
d) none

Q10. What causes Disequilibrium?
a) economic factors
b) social factors
c) political factors
d) All of the above

ANSWERS:

1.a
2. d

3. b

4. d

5. d

6. c

7. a

8. c

9. b

10. d

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