Q.1) In economy, the Black Money is looked upon as a threat to the economic system of India. Among the following what are the attributes of Black Money?

1. Wealth may have been engendered through lawful means but income thereon has not been affirmed nor the taxes due paid to the government.
2. It can be termed as the money generated through unlawful means such as crime, drug trade, terrorism & corruption.
Select the correct answer:
A. Only 1
B. Only 2
C. Neither 1 nor 2
D. Both 1 and 2 (Correct Answer)

Q.2) Among the following, which is not a reason for the cost-push inflation?

A. Extreme indirect taxation
B. Payment of dearness allowance to employees (Correct Answer)
C. Variations in industrial and agricultural output
D. Subsistence of a large parallel economy

Q.3) What are the measures to contain inflation among the supply side?

A. Wiping surplus liquidity through taxation
B. Delaying public expenditure
C. Sustaining price levels by means of effective PDS (Correct Answer)
D. None of these

Q.4) What was the rationale put forward in the 1st plan for state intervention in industrial sector?

A. State alone can guarantee decentralization of wealth
B. Private sector was neither capable nor willing to invest in certain sectors (Correct Answer)
C. Private sector was incompetent
D. None of these

Q.5) Population experts are referring to which phenomenon when they state about the possible 'demographic dividend' that may accrue to India during 2016 A.D.?

A. A rush in the population in productive age group (Correct Answer)
B. Quick drop in total population
C. Well-balanced sex ratio
D. None of these

Q.6) For what is Enforcement Directorate (ED) of the Finance Ministry responsible?

1. Putting into effect the provisions of FEMA
2. Compilation of intelligence concerning possible cases of money laundering
3. Evaluation of cases of avoidance of Income Tax
4. Elimination of property of crime under PMLA (Prevention of Money Laundering Act)
Choose the correct code:
A. Only 1
B. Only 2
C. 1 and 2 (Your Answer)
D. 1, 2 and 4 (Correct Answer)

Q.7) Choose the incorrect statement.

1. India’s share of world population is 17.5%
2. The share of service sector in Gross Domestic Product of India is 25%
A. Only 1
B. Only 2 (Correct Answer)
C. Both 1 and 2
D. Neither 1 nor 2

Q.8) Consider the following statements regarding FEMA, 1999:
1. Any resident in India can dispatch up to 200,000 US Dollar per year to get hold of real estate outside the nation
2. FEMA deals with money laundering & related crimes
Select the correct code:
A. Only 1 (Correct Answer)
B. Only 2
C. Both 1 and 2
D. Neither 1 nor 2

Q.9) Among the following, which is true in terms of findings of Census 2011?

1. Rates of growth of population have descended in the 6 most populous states
2. Bihar topped among the major states in terms of population growth during the decade
Choose the correct code:
A. Only 1
B. Only 2
C. Both 1 and 2 (Correct Answer)
D. Neither 1 nor 2

Q.10) The Disinvestment Policy of Government of India provides for 'strategic sale' of shares of PSU. What does the new policy involve?

A. Sale with management change (Correct Answer)
B. Sale of only loss-making PSUs
C. Sale of share of defence PSUs
D. None of these


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