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Economics Quiz| UGC NET Paper 2

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Question 1

The Reserve Bank of India regulates the commercial banks in matters of:  

1. liquidity of assets
2. branch expansion
3. merger of banks
4. winding-up of banks

Select the correct answer using the codes given below.

Question 2

There has been a persistent deficit budget year after year. Which of the following actions can be taken by the government to reduce the deficit?

1) Reducing revenue expenditure
2) Introducing new welfare schemes
3) Rationalizing subsidies
4) Expanding industries

Select the correct answer using the codes given below:

Question 3

Consider the following statements with regard to WTO:
(1). Green box subsidies are those subsidies which cause no, or at most minimal, trade distorting effects or effects on production. These subsidies have to be government-funded and must not involve price support. These include the amounts spent on Government services such as research, disease control, and infrastructure and food security.
(2). Blue Box subsidies contains direct payment subsidies which can be increased without limit, so long as payments are linked to production-limiting programs.
(3). Amber box subsidies include domestic support measures which are considered to distort production and trade.
Which of the above options are correct:

Question 4

Consider the following statements regarding informal sector in India:
(1). The informal sector is part of an economy that is neither taxed, nor monitored by government.
(2). The National Commission for Enterprises in the Unorganized Sector (NCEUS) has been set up as a statutory body for the informal sector to bring about improvement in the productivity of these enterprises.
(3). As per NCEUS, in India, the informal sector of the economy represents 93% of the total workforce.
(4). Rashtriya Swasthya Bima Yojana addresses the health needs of BPL families in unorganized sector by providing for smart card based cashless health insurance cover of Rs. 30,000/- per family per annum.
Which of the above options are correct:

Question 5

Consider the following statements:
1). The primary objective of Regional Rural Banks (RRBs) is to fulfill the credit needs of small and marginal farmers, agricultural labourers and socio-economically weaker sections.
2). The shares of Regional Rural Banks are owned by Centre Govt.
3). The Narsimham Committee has recommended to merge RRBs with the sponsor banks in view of the having high NPAs
Which of the above options are correct:
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Nikhil VermaNikhil VermaMember since Aug 2017
# 3+ years of mentoring students for UGC NET, IBPS
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