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Question 1 of 5
1. Question
2 points1. Which of the following statements is/are true about unemployment?
1. All the people below the age of 60 who did not get jobs are considered unemployed.
2. When the number of labourers employed in an agricultural field is more than required, it is known as seasonal unemployment.
3. Agricultural workers sitting idle in winters every year is an example of seasonal unemployment.
Select the correct answer using the code given below:Correct
Answer: C
Explanation:
● All the people below the age of 60 who are interested in working but did not get jobs are considered unemployed.
● Labourers employed in an agricultural field are more than required, it is known as disguised unemployment.
● Agricultural workers sitting idle in winters every year is an example of seasonal unemployment.Incorrect
Answer: C
Explanation:
● All the people below the age of 60 who are interested in working but did not get jobs are considered unemployed.
● Labourers employed in an agricultural field are more than required, it is known as disguised unemployment.
● Agricultural workers sitting idle in winters every year is an example of seasonal unemployment. -
Question 2 of 5
2. Question
2 points2. Which of the following correctly defines Monopolistic competition?
Correct
Answer: B
Explanation:
Monopolistic competition is a market structure where the number of firms is large, there is free entry and exit of firms, but the goods produced by them are not homogeneous.
For example: There is a very large number of chocolates producing firms. But many of the chocolates being produced are associated with some brand name and are distinguishable from one another by these brand names and packaging and are slightly different in taste. The consumer develops a taste for a particular brand of chocolate over time, or becomes loyal to a particular brand for some reason, and is, therefore, not immediately willing to substitute it for another chocolate. However, if the price difference becomes large, the consumer would be willing to choose a chocolate of another brand. The price difference required for the consumer to change the brand consumed may vary.Incorrect
Answer: B
Explanation:
Monopolistic competition is a market structure where the number of firms is large, there is free entry and exit of firms, but the goods produced by them are not homogeneous.
For example: There is a very large number of chocolates producing firms. But many of the chocolates being produced are associated with some brand name and are distinguishable from one another by these brand names and packaging and are slightly different in taste. The consumer develops a taste for a particular brand of chocolate over time, or becomes loyal to a particular brand for some reason, and is, therefore, not immediately willing to substitute it for another chocolate. However, if the price difference becomes large, the consumer would be willing to choose a chocolate of another brand. The price difference required for the consumer to change the brand consumed may vary. -
Question 3 of 5
3. Question
2 points3. With reference to primary markets, consider the following statements:
1. Both the buying and the selling of securities can take place on the stock exchange.
2. Prices are determined by demand and supply for the security.
3. The primary market promotes capital formation.
Which of the statements given above is/are correct?Correct
Answer: C
Explanation:
Statement 1 is incorrect: Only buying of securities takes place in the primary market, securities cannot be sold there.
Statement 2 is incorrect: Prices are determined and decided by the management of the company.
Statement 3 correct: The flow of funds is from savers to investors i.e., the primary market directly promotes capital formation whereas in the secondary market it enhances encashability (liquidity) of shares, i.e., the secondary market indirectly promotes capital formation.Incorrect
Answer: C
Explanation:
Statement 1 is incorrect: Only buying of securities takes place in the primary market, securities cannot be sold there.
Statement 2 is incorrect: Prices are determined and decided by the management of the company.
Statement 3 correct: The flow of funds is from savers to investors i.e., the primary market directly promotes capital formation whereas in the secondary market it enhances encashability (liquidity) of shares, i.e., the secondary market indirectly promotes capital formation. -
Question 4 of 5
4. Question
2 points4. Priority sector lending by Banks constitute lending for:
1. Nuclear power plants
2. Micro, Small and Medium Enterprises
3. Education and health
4. Housing projects
5. Agriculture
Select the correct answer using the code given below:Correct
Answer: D
Explanation:
There are eight broad categories of the Priority Sector Lending viz:
● Agriculture
● Micro, Small and Medium Enterprises
● Export Credit
● Education
● Housing
● Social Infrastructure
● Renewable Energy
● Others
Others include Personal loans to weaker sections, distressed persons, Scheduled Castes/ Scheduled Tribes for the specific purpose etc.
∙ Nuclear power plants do not come under the priority sector lending.
∙ Thus option (d) is the correct answer.Incorrect
Answer: D
Explanation:
There are eight broad categories of the Priority Sector Lending viz:
● Agriculture
● Micro, Small and Medium Enterprises
● Export Credit
● Education
● Housing
● Social Infrastructure
● Renewable Energy
● Others
Others include Personal loans to weaker sections, distressed persons, Scheduled Castes/ Scheduled Tribes for the specific purpose etc.
∙ Nuclear power plants do not come under the priority sector lending.
∙ Thus option (d) is the correct answer. -
Question 5 of 5
5. Question
2 points5. With reference to Capital Account Convertibility (CAC), consider the following statements:
1. It is freedom to convert local financial assets into foreign ones at market determined exchange rates.
2. Full CAC could destabilise an economy due to massive capital flows in and out of the country.
Which of the statements given above is/are correct?Correct
Answer: C
Explanation:
Both the statements are correct: Capital Account Convertibility is the freedom to convert local financial assets into foreign ones at market-determined exchange rates. It leads to free exchange of currency at lower rates and an unrestricted mobility of capital. It is beneficial for a country because inflow of foreign investment increases, as restriction on currency conversion is eased. The flip side, though, is that full CAC could destabilise an economy due to massive capital flows in and out of the country.Incorrect
Answer: C
Explanation:
Both the statements are correct: Capital Account Convertibility is the freedom to convert local financial assets into foreign ones at market-determined exchange rates. It leads to free exchange of currency at lower rates and an unrestricted mobility of capital. It is beneficial for a country because inflow of foreign investment increases, as restriction on currency conversion is eased. The flip side, though, is that full CAC could destabilise an economy due to massive capital flows in and out of the country.
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