According to the RBI, balance of payment is a statistical
statement that shows
1. The transaction in goods, services and income between an
economy and the rest of the world,
2. Changes of ownership and other changes in that economy's
monetary gold, special drawing rights (SDRs), and financial claims on and liabilities to the rest of the world, and
3. Unrequited transfers. which of the statements given above is/are correct a) 1 and 2 only b) 1,2 and 3 c) 2 and 3 only d) 1 and 3 only
Q 2. which of the following statements regarding White Label ATMs
is/are correct- 1. White Label Automated Teller Machines (ATMs) in India will be owned and operated by Non Bank entities. 2. Customer from any bank will be able to withdraw money, and need not to pay a fee for the services. 3. These ATMs can only use for cash withdrawal and not for utility bill payment, mini statement and PIN change. 4. The machine contains Logo of sponsor bank.
which of the statements given above is/are correct
a) 1 and 2 only b) 1only c) 1,2, and 4 only d) 1 and 3 only
Q 3. consider the following statements :
1. A payment gateway is an e-commerce service that processes only credit card payments for online and traditional brick and mortar stores. 2. Payment gateways facilitate these transactions by transferring key information between payment portals such as web-enabled mobile devices/websites and the front end processor/bank. which of the statements given above is/are correct a) 1 only b) 2 only c) both 1 and 2 d) neither 1 nor 2
Q4. Which of the following measures would result in a decrease in
the money supply in economy? 1 Purchase of government securities from public by central bank 2 Deposit of currency in commercial banks by the public 3 Borrowing by government from the central bank. 4 Sale of government securities to the public by central bank. a) 1 and 2 only b) 2 and 4 only c) 1 and 3 only d) 3 and 4 only
Q5. which of the following tolls of RBI’s Monetary policy comes
under the quantitative tools: 1.Statutory liquidity ratio 2. Cash Reserve ratio 3. Open Market Operatio 4. Repo Rate 5.Rationing of Credit a) 1 and 5 b) 1,2 ,3 and 4 c) 2, 3 and 4 d) all of the above
Q6.Money supply in the economy, is affected by
1. Cheap money policy and dear money policy. 2. Open market operation and Moral Suasion. 3. Demonetisation a) only 1 and 2 b) only 2 and 3 c) only 1 and 3 d) all 1, 2 and 3
Q7.consider the following statements:
1. Twin deficit basically refers to a situation where the country runs relatively large current account and fiscal deficits. 2. Higher twin deficit is inherently destabilizing and was the primary reason why India faced a currency crisis back in 1991. which of the statements given above is/are correct a) 1 only b) 2 only c) both 1 and 2 d) neither 1 nor 2
Q 8. Consider the following statements regarding IMPS
(Immediate Payment Service): 1. It is an emphatic tool to transfer money instantly within banks across India through mobile,internet and ATM which is not only safe but also economical. 2. It facilitate customers to use mobile instruments as a channel for accessing their bank accounts and put high interbank fund transfers in a secured manner with immediate confirmation features. 3. This facility is provided by NPCI through its existing NFS switch. 4. The eligible criteria for the Banks who can participate in IMPS is that the Bank should have approval from RBI for Mobile Banking Service. which of the statements given above is/are correct a) 1, 2 and 4 only b) 2,3 and 4 only c) 1,2,3 and 4 d) 3 and 4 only
Q 9. In November 2016 Government of India announced the
demonetisation of Rs 500 and Rs 1000 notes, which results in: 1. Decrease in aggregate demand n economy 2. Decrease in aggregate supply in economy 3. it reduced sharply the supply of one type of money a) 1 and 2 only b) 2 and 3 only c) 1 and 3 only d) 1,2 and 3 Q10. As per Watal Committee Report on Digital payments, the digital payment system is more desirable than cash payments because: 1. Cash is expensive 2. Digital payments are more secure and convenient 3. Digital payments allow for services to be delivered at lower costs and helps in fostering economic growth and financial inclusion
which of the statements given above is/are correct
a) only 1 and 2 b) only 2 and 3 c) only 1 and 3 d) all 1, 2 and 3
Q11.when Marginal productivity of labour is zero it shows:
a) Frictional unemployment b) Structural unemployment c) Disguised unemployment d) Cyclical unemployment
Q12. Consider the following statements:
1. Statutory Liquidity ratio is certain percentage of the total bank deposits which has to be kept with RBI. 2. Cash Reserve ratio is certain percentage of a bank’s deposits that bank has to maintain in the form of gold, cash or other approved securities. which of the statements given above is/are correct a) 1 only b) 2 only c) both 1 and 2 d) neither 1 nor 2
Q13. The term Disinflation Stands for-
1. Fall in the general price level with unemployment 2. Fall in the prices without causing unemployment 3. it is synonym for deflation 4. it is sudden fall in price level
a) 1, 2 and 4 only b) 2 and 3 only c) 2 only d) 3 and 4 only
Q14. A decrease in general level of prices may be caused by:
1. an increase in the money supply 2. an increase in the aggregate level of output 3. a decrease in effective demand Select the correct codes five below: a) 1 only b) 1 and 2 only c) 1 and 3 only d) 2 and 3 only
Q 15. The term Twin Deficit refers :
a).where an economy is running both a fiscal deficit and also a deficit on the current account of the balance of payments. b) a situation where fiscal deficit and monetary deficit exists together in the economy c) where an economy is facing decrease in money supply and current account deficit of the balance of payments. d) when Unemployment and deficit financing increasing in the economy.
Bright Day School, Vadodara CBSE Unit - Vasna Academic Year: 2021 - 22 Term Test - I Subject: Economics (030) Date: 18/09/2021 STD: XII Time: 3 Hours Marks: 80