General Knowledge Quiz 216

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1. The Government of India acquired the ownership and control of major banks in 1969 whose deposits were not less than
[a] Rs 40 crore
[b] Rs 50 crore
[c] Rs 60 crore
[d] Rs 80 crore

2. What are costs which vary with output called?
[a] overhead costs
[b] indirect costs
[c] prime costs
[d] all of the above

3. Which of the following is known as plastic money?
[a] bearer cheques
[b] credit cards
[c] demand drafts
[d] gift cheques

4. To get the Net National Product, we deduct what from the Gross National Product?
[a] direct taxes
[b] imports
[c] interim payments
[d] loss

5. What is the main purpose of currency?
[a] standard of postponed payments
[b] standard of money
[c] medium of exchange
[d] none of these

6. What does devaluation of a currency mean?
[a] decrease in the internal value of money
[b] decrease in the external value of money
[c] decrease both in the external and internal values of money
[d] none of these

7. Which of the following is not a direct tax?
[a] estate duty
[b] agricultural income tax
[c] state excise
[d] corporation tax

8. Which one of the following was set up during the Seventh Five Year Plan to help the low income groups?
[a] NABARD
[b] Regional rural bank
[c] National Housing Bank
[d] UTI Bank

9. The launching of five year plans in India saw the introduction of
[a] mixed economy
[b] socialist economy
[c] capitalist economy
[d] closed economy

10. Land development banks in India are owned by the
[a] RBI
[b] State governments
[c] Commercial banks
[d] Cooperative societies

Answers:
1. Rs 50 crore
2. overhead costs
3. credit cards
4. loss
5. medium of exchange
6. decrease in the external value of money
7. agricultural income tax
8. NABARD
9. mixed economy
10. Cooperative societies