Q1. Convertibility of the rupee implies
(a) Being able to convert rupee notes into gold
(b) Allowing the value of the rupee to be fixed by market forces
(c) Freely permitting the conversion of rupee to other major currencies and vice versa
(d) Developing an international market for currencies in India

Q2. Devaluation of currency means
(a) Reduction in the value of currency vis-à-vis major internationally traded currencies
(b) Permitting the currency to seek its worth in the international market
(c) Fixing the value of the currency in conjunction with movement in the value of basket of predetermined currencies
(d) Fixing the value of a currency after a multilateral consultation with the IMF, IBRD and major trading partners.
Q3. Devaluation of currency will be more beneficial if
(a) Prices of domestic goods remain constant
(b) Prices of exports remain constant
(c) Prices of imports remain constant
(d) Prices of exports rise proportionately

Q4. For the performance of its refinancing function, the NABARD has taken over
(a) The ARDC – Agricultural Refinance and Development Corporation
(b) The ACD – Agricultural Credit Department of RBI
(c) The Rural Planning and Credit Cell of the RBI
(d) All of the above
Q5. How many banks were nationalised in 1969?
(a) 16
(b) 14
(c) 15
(d) 20
Q6. If the RBI adopts an expansionist open market operations policy, this means that it will
(a) Buy securities from non-government holders
(b) Sell securities in the closed market
(c) Offer commercial banks more credit in the open market
(d) Openly announce to the market that it intends to expand credit
Q7. In the second nationalization of commercial banks, __________ banks were nationalized.
(a) 4
(b) 6
(c) 5
(d) 8
Q8. India changed over to the decimal system of coinage in
(a) April 1995
(b) April 1957
(c) April 1958
(d) April 1959
Q9. Real national income denotes .
(a) National income at constant prices
(b) Per capita income
(c) National income at current prices
(d) Net factor income
Q10. ‘Golden Handshake Scheme’ is associated with
(a) inviting foreign companies
(b) private investment in public enterprises
(c) establishing joint enterprises
(d) Voluntary retirement
Q11. Legal tender in India includes
(a) Notes issued by RBI only
(b) Coins and bank notes
(c) Notes issued by the Finance Ministry
(d) Gold and notes
12 Which one of the following coin the term ‘Stagflation’ in the economy?
(A) lain Macleod
(B) Milton Friedman
(C) J M Keynes
(D)William Phillips
Q13. NABARD is a
(a) Bank
(b) Bureau
(c) Board
(d) Department
Q14. Notes on which denomination have the portrait of Mahatma Gandhi printed on them?
(a) 2,000 rupee
(b) 500 rupee
(c) 100 rupee
(d) All
Q15. On 12 July 1982, the ARDC was merged into
(a) RBI
(c) EXIM Bank
(d) None of the above



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