Q. What is the main purpose of the National Health Mission (NHM)?
A.
To provide free education
B.
To improve healthcare services in rural areas
C.
To promote digital literacy
D.
To enhance agricultural productivity
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Solution
The National Health Mission (NHM) aims to improve healthcare services, especially in rural areas, ensuring access to quality healthcare for all.
Correct Answer:
B
— To improve healthcare services in rural areas
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Q. What is the main purpose of the repo rate?
A.
To control inflation
B.
To provide liquidity to banks
C.
To encourage foreign investment
D.
To stabilize the stock market
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Solution
The repo rate is the rate at which the central bank lends money to commercial banks, providing them liquidity.
Correct Answer:
B
— To provide liquidity to banks
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Q. What is the objective of the Pradhan Mantri Ujjwala Yojana?
A.
To provide free electricity to rural households
B.
To provide clean cooking fuel to women from below poverty line
C.
To enhance rural connectivity
D.
To promote digital payments
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Solution
The Pradhan Mantri Ujjwala Yojana aims to provide clean cooking fuel (LPG) to women from below the poverty line, improving their health and living conditions.
Correct Answer:
B
— To provide clean cooking fuel to women from below poverty line
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Q. What is the potential downside of expansionary fiscal policy?
A.
Increased unemployment
B.
Higher inflation
C.
Decreased GDP
D.
Lower consumer spending
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Solution
The potential downside of expansionary fiscal policy is higher inflation, as increased government spending can lead to demand outpacing supply.
Correct Answer:
B
— Higher inflation
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Q. What is the poverty line?
A.
A measure of economic growth
B.
A threshold income level
C.
A type of unemployment
D.
A government subsidy
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Solution
The poverty line is a threshold income level set by governments to determine the minimum income required to maintain a basic standard of living.
Correct Answer:
B
— A threshold income level
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Q. What is the primary focus of the Pradhan Mantri Fasal Bima Yojana (PMFBY)?
A.
To provide crop insurance to farmers
B.
To enhance irrigation facilities
C.
To promote organic farming
D.
To support agricultural research
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Solution
The Pradhan Mantri Fasal Bima Yojana (PMFBY) focuses on providing crop insurance to farmers to protect them against losses due to natural calamities.
Correct Answer:
A
— To provide crop insurance to farmers
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Q. What is the primary function of a commercial bank?
A.
To issue currency
B.
To provide loans and accept deposits
C.
To manage government accounts
D.
To regulate the money supply
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Solution
The primary function of a commercial bank is to provide loans and accept deposits from the public.
Correct Answer:
B
— To provide loans and accept deposits
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Q. What is the primary function of commercial banks?
A.
Issuing currency
B.
Accepting deposits and providing loans
C.
Regulating monetary policy
D.
Managing foreign exchange
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Solution
Commercial banks primarily accept deposits from the public and provide loans to individuals and businesses.
Correct Answer:
B
— Accepting deposits and providing loans
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Q. What is the primary function of the Agricultural Credit System in India?
A.
To provide loans for agricultural development
B.
To regulate crop prices
C.
To manage irrigation resources
D.
To control pest outbreaks
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Solution
The primary function of the Agricultural Credit System is to provide loans to farmers for agricultural development and investment.
Correct Answer:
A
— To provide loans for agricultural development
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Q. What is the primary function of the Monetary Policy Committee (MPC) in India?
A.
To set fiscal policy
B.
To determine the Repo Rate
C.
To regulate foreign investments
D.
To manage public debt
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Solution
The primary function of the Monetary Policy Committee (MPC) is to determine the Repo Rate and formulate monetary policy.
Correct Answer:
B
— To determine the Repo Rate
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Q. What is the primary function of the National Bank for Agriculture and Rural Development (NABARD)?
A.
To regulate interest rates
B.
To provide credit and development support to agriculture
C.
To monitor inflation
D.
To issue currency
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Solution
NABARD's primary function is to provide credit and development support to agriculture and rural development, facilitating growth in these sectors.
Correct Answer:
B
— To provide credit and development support to agriculture
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Q. What is the primary goal of a Disaster Management Framework in the context of macroeconomics?
A.
To increase government spending
B.
To stabilize the economy during crises
C.
To reduce inflation rates
D.
To promote international trade
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Solution
The primary goal of a Disaster Management Framework in macroeconomics is to stabilize the economy during crises by implementing measures that mitigate the impact of disasters.
Correct Answer:
B
— To stabilize the economy during crises
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Q. What is the primary goal of contractionary fiscal policy?
A.
Stimulate economic growth
B.
Reduce inflation
C.
Increase employment
D.
Boost consumer spending
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Solution
The primary goal of contractionary fiscal policy is to reduce inflation by decreasing government spending or increasing taxes.
Correct Answer:
B
— Reduce inflation
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Q. What is the primary goal of Environmental Conservation Acts?
A.
To promote industrial growth
B.
To protect natural resources
C.
To increase government revenue
D.
To enhance urban development
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Solution
The primary goal of Environmental Conservation Acts is to protect natural resources and ensure sustainable development.
Correct Answer:
B
— To protect natural resources
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Q. What is the primary goal of expansionary fiscal policy?
A.
To reduce inflation
B.
To decrease unemployment
C.
To increase taxes
D.
To balance the budget
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Solution
The primary goal of expansionary fiscal policy is to decrease unemployment by increasing government spending and/or cutting taxes.
Correct Answer:
B
— To decrease unemployment
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Q. What is the primary goal of fiscal management?
A.
Maximizing government revenue
B.
Ensuring economic stability
C.
Reducing unemployment
D.
Increasing public sector investment
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Solution
The primary goal of fiscal management is to ensure economic stability by managing government finances effectively.
Correct Answer:
B
— Ensuring economic stability
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Q. What is the primary goal of fiscal policy?
A.
Control inflation
B.
Reduce unemployment
C.
Stimulate economic growth
D.
All of the above
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Solution
The primary goal of fiscal policy is to manage the economy by controlling inflation, reducing unemployment, and stimulating economic growth through government spending and taxation.
Correct Answer:
D
— All of the above
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Q. What is the primary goal of inclusive growth in the Indian economy?
A.
Maximizing GDP growth
B.
Reducing income inequality
C.
Increasing foreign investment
D.
Enhancing export performance
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Solution
Inclusive growth aims to ensure that the benefits of economic growth are distributed fairly across society, reducing income inequality.
Correct Answer:
B
— Reducing income inequality
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Q. What is the primary goal of monetary policy in the context of robotics and automation?
A.
To increase employment in traditional sectors
B.
To control inflation and stabilize the economy
C.
To promote technological advancements
D.
To reduce government spending
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Solution
The primary goal of monetary policy is to control inflation and stabilize the economy, which is crucial as robotics and automation can disrupt traditional economic structures.
Correct Answer:
B
— To control inflation and stabilize the economy
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Q. What is the primary measure of poverty in an economy?
A.
Income level
B.
Employment rate
C.
Inflation rate
D.
GDP growth
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Solution
The primary measure of poverty is often based on income level, which determines whether individuals or families fall below the poverty line.
Correct Answer:
A
— Income level
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Q. What is the primary objective of monetary policy?
A.
Control inflation
B.
Increase government spending
C.
Reduce unemployment
D.
Regulate foreign exchange
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Solution
The primary objective of monetary policy is to control inflation and stabilize the currency.
Correct Answer:
A
— Control inflation
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Q. What is the primary objective of planning in India?
A.
To achieve economic growth
B.
To reduce inflation
C.
To increase exports
D.
To control population
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Solution
The primary objective of planning in India is to achieve economic growth by allocating resources efficiently and promoting development.
Correct Answer:
A
— To achieve economic growth
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Q. What is the primary objective of the National Food Security Act (NFSA) in India?
A.
To increase agricultural exports
B.
To provide subsidized food grains to the poor
C.
To regulate food prices
D.
To promote organic farming
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Solution
The NFSA aims to provide subsidized food grains to approximately two-thirds of India's population, ensuring food security.
Correct Answer:
B
— To provide subsidized food grains to the poor
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Q. What is the primary objective of the Reserve Bank of India (RBI) in terms of monetary policy?
A.
To control inflation
B.
To increase government revenue
C.
To regulate foreign exchange
D.
To promote exports
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Solution
The primary objective of the RBI's monetary policy is to control inflation and ensure price stability.
Correct Answer:
A
— To control inflation
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Q. What is the primary objective of the Reserve Bank of India (RBI)?
A.
To regulate the stock market
B.
To manage the country's foreign exchange
C.
To control inflation and stabilize the currency
D.
To provide loans to the government
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Solution
The primary objective of the RBI is to control inflation and stabilize the currency, ensuring economic stability.
Correct Answer:
C
— To control inflation and stabilize the currency
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Q. What is the primary objective of the Reserve Bank of India's monetary policy?
A.
Control inflation
B.
Increase employment
C.
Boost exports
D.
Regulate foreign exchange
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Solution
The primary objective of the Reserve Bank of India's monetary policy is to control inflation and ensure price stability.
Correct Answer:
A
— Control inflation
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Q. What is the primary purpose of a government budget?
A.
To control inflation
B.
To allocate resources
C.
To manage public debt
D.
To regulate the banking sector
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Solution
The primary purpose of a government budget is to allocate resources effectively to various sectors of the economy.
Correct Answer:
B
— To allocate resources
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Q. What is the primary purpose of biotechnology in the economy?
A.
To enhance agricultural productivity
B.
To reduce government regulations
C.
To increase fossil fuel production
D.
To promote traditional farming methods
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Solution
Biotechnology primarily aims to enhance agricultural productivity through genetic modification and other techniques.
Correct Answer:
A
— To enhance agricultural productivity
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Q. What is the primary purpose of budgeting in fiscal management?
A.
To increase government revenue
B.
To allocate resources efficiently
C.
To reduce public debt
D.
To control inflation
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Solution
Budgeting helps in allocating resources efficiently by planning expenditures and revenues, ensuring that funds are directed towards priority areas.
Correct Answer:
B
— To allocate resources efficiently
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Q. What is the primary purpose of irrigation in agriculture?
A.
To increase soil fertility
B.
To provide water to crops
C.
To reduce pest infestations
D.
To enhance crop rotation
Show solution
Solution
Irrigation is primarily used to provide water to crops, ensuring they receive adequate moisture for growth, especially in areas with insufficient rainfall.
Correct Answer:
B
— To provide water to crops
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