RRB JE Economy Quiz: 17th April

Dear Readers, GA section is taken on the light note but plays a vital role in achieving the score required to cross the cut off marks. We are providing important Economy Questions for this, it will help you to score good in GA section if you regularly follow the contents provided on scaffold website and adda247 app regarding general knowledge important questions. We wish you the best wishes for all the upcoming exams.

Q1. Gresham’s Law states that-
ग्रेशम का नियम का अर्थ है-
(a) Good money replaces bad money in circulation/ उचित मुद्रा परिसंचरण में हीन मुद्रा की जगह लेता है
(b) Bad money replaces good money in circulation/ हीन मुद्रा परिसंचरण में उचित मुद्रा की जगह लेता है
(c) Good money promotes bad money in the system/ उचित मुद्रा सिस्टम में हीन मुद्रा को बढ़ावा देता है
(d) Bad money promotes good money in the system/ हीन मुद्रा सिस्टम में उचित मुद्रा को बढ़ावा देता है

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S1. Ans.(b)
Sol. Gresham’s law is a monetary principle stating that “bad money drives out good.”

Q2. Bank rate is the interest rate at which –
बैंक दर वह ब्याज दर है जिस पर
(a) Any bank lends money to an individual/ कोई भी बैंक किसी व्यक्ति को पैसा उधार देता है
(b) Rural bank gives loan to cooperative societies/ ग्रामीण बैंक सहकारी समितियों को ऋण देता है
(c) Central Bank of Country lends money to the commercial banks/ सेंट्रल बैंक ऑफ इंडिया वाणिज्यिक बैंकों को पैसा उधार देता है
(d) None of these/इनमें से कोई नहीं

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S2. Ans.(c)
Sol. A bank rate is the interest rate at which a nation’s central bank lends money to domestic banks, often in the form of very short-term loans.

Q3. A commercial bank law creates credit only if it has
एक वाणिज्यिक बैंक कानून केवल तभी क्रेडिट बनाता है जब उसके पास ________ होता है
(a) Cash in the vault/वॉल्ट में नकद
(b) Excess reserves/ अतिरिक्त रिज़र्व
(c) Permission of Reserve Bank of India/ भारतीय रिजर्व बैंक की अनुमति
(d) Permission of Board of Directors/ निदेशक मंडल की अनुमति

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S3. Ans.(a)
Sol. A commercial bank is a dealer of credit. It creates money based on cash deposits. Further, it issues new money through its loan operations and creates credit or expands the monetary base of a country.Higher the cash of commercial banks in the form of public deposits, more will be the credit creation.

Q4. The main source of long-term credit for a business unit is
एक व्यापार इकाई के लिए दीर्घकालिक क्रेडिट का मुख्य स्रोत क्या है?
(a) sale of stocks and bonds to the public/ जनता को स्टॉक और बॉन्ड की बिक्री
(b) borrowing from banks/ बैंकों से उधार लेना
(c) loans from the Government/ सरकार से ऋण
(d) None of these/इनमें से कोई नहीं

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S4. Ans.(a)
Sol. Stocks and bonds are popular investment products offered by corporations and government entities.

Q5. In banking transactions ECS stand for ?
बैंकिंग लेनदेन में ECS का पूर्ण रूप क्या है?
(a) Excess Credit Supervisor
(b) Extra Cash Status
(c) Exchange Clearing Standard
(d) Electronic Clearing Service

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S5. Ans.(d)
Sol. Electronic Clearing Service (ECS) is an electronics mode of payment/receipt for transactions that are repetitive and periodic in nature. ECS is used by institutions for making bulk payment or bulk collection of amounts. Essentially, ECS facilitates bulk transfer of monies from one bank account to many bank accounts or vice versa.

Q6. What is green banking?
हरित बैंकिंग क्या है?
(a) development of forestry by banks/ बैंकों द्वारा वानिकी का विकास
(b) financing of environmental friendly projects by banks/ बैंकों द्वारा पर्यावरण के अनुकूल परियोजनाओं का वित्तपोषण
(c) financing of irrigation projects by banks/ बैंकों द्वारा सिंचाई परियोजनाओं का वित्तपोषण
(d) None of these/इनमें से कोई नहीं

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S6. Ans.(b)
Sol. Green Banking is any form of banking from which the country and nation gets environmental benefits. Green Banking has become a buzz word in today’s banking world. It means developing inclusive banking strategies which will ensure substantial economic development and promoting environmental-friendly practices as well.

Q7. Cheap money is –
चीप मनी क्या है?
(a) Credit available at low interest rates / कम ब्याज दरों पर उपलब्ध क्रेडिट
(b) Credit available easily/ क्रेडिट आसानी से उपलब्ध है
(c) Credit available without any tax/ बिना किसी टैक्स के उपलब्ध क्रेडिट
(d) Credit available at high interest rates/ उच्च ब्याज दरों पर उपलब्ध क्रेडिट

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S7. Ans.(a)
Sol. Cheap money is a loan or credit with a low interest rate, or the setting of low interest rates by a central bank like the Federal Reserve. Cheap money is money that can be borrowed with a very low interest rate, or price for borrowing.

Q8. Bank deposits that can be withdrawn by the customer without notice are called?
ग्राहक द्वारा बिना सूचना के निकाले जा सकने वाले बैंक डिपॉजिट को कहा जाता है?
(a) account payee deposits/अकाउंट पेयी डिपाजिट
(b) fixed deposits/फिक्स्ड डिपाजिट
(c) demand deposits/डिमांड डिपाजिट
(d) None of these/इनमें से कोई नहीं

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S8. Ans.(c)
Sol. If the funds deposited can be withdrawn by the customer (depositor / account holder) at any time without any advanced notice to banks; it is called demand deposit.

Q9. Full convertibility of a rupeee means
रुपये की पूर्ण परिवर्तनीयता का क्या मतलब है?
(a) purchase of foreign exchange for rupees freely/ स्वतंत्र रूप से रुपये के लिए विदेशी मुद्रा की खरीद
(b) payment for imports in terms of ruppes/ रुपये के संदर्भ में आयात के लिए भुगतान
(c) repayment of loans in terms of rupees/ रुपए के संदर्भ में ऋणों का पुनर्भुगतान
(d) determination of rupee exchange rate by market factors/ बाजार कारकों द्वारा रुपये की विनिमय दर का निर्धारण

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S9. Ans.(d)
Sol. Full convertibility would mean the rupee exchange rate would be left to market factors, without any regulatory intervention.
 

Q10. During _________ the average price level of a basket of selected goods and services in an economy increases over a period of time.
_________ के दौरान, एक अर्थव्यवस्था में चयनित वस्तुओं और सेवाओं की बास्केट का औसत मूल्य स्तर, समय के साथ बढ़ता है।
(a) Deflation / अपस्फीति
(b) Inflation/ मुद्रास्फीति
(c) Recession/ मंदी
(d) Stagflation/ मुद्रास्फीतिजनित मंदी

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S10. Ans.(b)
Sol. Inflation is a sustained increase in the general price level of goods and services in an economy over a period of time.