Mix Bag Question - 1 (XII)

___________ is the only Prime Minister to have also served as the Governor of RBI.

• Indra Kumar Gujral

• P.V Narasimha Rao

• Man Mohan Singh

• Jawahar Lal Nehru

Who regulates money supply in India?

• Government of India

• Reserve Bank of India

• Commercial Banks

• NITI Aayog

Money that is issued by the authority of the government is called:

• Full bodied money

• Credit Money

• Fiat Money

• Fiduciary Money

Demand deposits include:

• Chequable deposits

• Deposits which can be withdrawn on demand

• Fixed deposits for a period

• Both (a) and (b)

Answer explanation

Demand deposits are those deposits which can be withdrawal on the demand of consumer.

Final goods are used by the -

• Consumers

• Producers

• Government

• All of these

Classification of goods depend on the -

• Consumption of goods

• Production of goods

• First-use of goods

• End-use of goods

Capital goods are those goods -

• Which are used in the production process for several years

• Which are used in the production process for few years

• Which involve depreciation losses

• Both (a) and (c)

Increase in the stock of capital is known as -

• Capital loss

• Capital gain

• Capital formation

• None of these

Read the following statements carefully:

Statement 1: Commercialization of agriculture under the British rule was responsible for frequent famines between 1875 and 1900.

Statement 2: During British rule, India began to export food grains.

In light of the given statements, choose the correct alternative from the following:

• Statement 1 is true and Statement 2 is false.

• Statement 1 is false and Statement 2 is true.

• Both Statements 1 and 2 are true.

• Both Statements 1 and 2 are false.

Read the following statements carefully:

Statement 1: The purchase of food grains made by the Government on the Minimum Support Price (MSP) is maintained as buffer stock.

Statement 2: Minimum Support Price safeguards the farmers against any sharp fall in farm product prices.

In light of the given statements, choose the correct alternative from the following:

• Statement 1 is true and Statement 2 is false.

• Statement 1 is false and Statement 2 is true.

• Both Statements 1 and 2 are true.

• Both Statements 1 and 2 are false.