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Indian Economy Quiz 20. 04. 2018

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Question 1

Which of the following statements are correct:
1) A liquidity trap is a situation in which injections of cash into the private banking system by a central bank fail to decrease interest rates.
2) Liquidity trap makes monetary policy ineffective.
3) In situation of liquidity trap, everyone in the economy hold their wealth in money balance.

Question 2

Consider the following statements:
1). In economics, "dumping" is a kind of predatory pricing when manufacturers export a product to another country at a price either below the price charged in its home market or below its cost of production.
2). An anti-dumping duty is a protectionist tariff that a domestic government imposes on foreign imports that it believes are priced below fair market value.
3). Countervailing duties ,also known as anti-subsidy duties, are imposed to neutralize the negative effects of subsidies.
Which of the above options are correct:

Question 3

Consider the following statements:
1) The Human Development Report (HDR) is an annual report prepared by United Nations Development Programme(UNDP).
2) The report was first launched in 1990 by the Pakistani economist Mahbub ul Haq and Indian Nobel laureate Amartya Sen.
3) The Human Development Index (HDI) is compiled by considering the statistic of life expectancy, education, and per capita income.
4) India ranks lowest in Human Development Index among BRICS nations.
Which of the above options are correct:

Question 4

The Uruguay Round led to the creation of the World Trade Organization. Consider the following statements regarding Uruguay Round:
1). The Agreement on Agriculture (AoA) is an international treaty which was negotiated during the Uruguay Round.
2). The Agreement on Agriculture has three pillars—domestic support, market access, and export subsidies.
3). The main objectives of the Uruguay Round were to reduce agricultural subsidies, to lift restrictions on foreign investment, and to begin the process of opening trade in services like banking and insurance.
Which of the above options are correct:

Question 5

Consider the following statements regarding Payment Banks:
A) Payment Banks can't advance loans or issue credit cards.
B) Payment Banks can accept demand deposits up to Rs 5 lakh.
C) Payment Banks offer remittance services, mobile payments/transfers/purchases.
D) Payment Banks offer banking services like ATM/debit cards, net banking and third party fund transfers.
Which of the above options are correct:

Question 6

Consider the following statements
1. China has the observer’s status at the South Asian Association for Regional Cooperation.
2. India has the observer’s status at the Shanghai Cooperation Organisation.
Which of the statements) given above is/are correct?
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