Economics Flashcards
What is the present rank of India in terms of voting share in the IMF?
13th
2.44%
India’s current quota in the IMF is SDR (Special Drawing Rights) 5,821.5 million, making it the 13th largest quota holding country at IMF and giving it shareholdings of 2.44%. However, based on voting share, India (together with its constituency countries Viz.
India’s largest trading partner in 2019 was
1 China 84.4
2 The United States 74.3
3 United Arab Emirates 49.74
4 Saudi Arabia 26.72
who has developed the concept of Human Development Index
Mahbub ul Haq
Pakistani economist Mahbub ul Haq created HDI in 1990 which was further used to measure the country’s development by the United Nations Development Program (UNDP).
what is the primary objective of the governments in opting for the deliberate devaluation of the currency?
To Boost Exports
Currency devaluations can be used by countries to achieve economic policy.
Having a weaker currency relative to the rest of the world can help boost exports, shrink trade deficits and reduce the cost of interest payments on its outstanding government debts
in the world economic forum, inclusive development index in 2019 India was ranked at
62nd place
who is the CEO of Niti Aayog
Amitabh Kant.
what percentage of employees provident fund can be invested in equity shares
Min 5% and Max 15%
the measurement of the poverty line in India is based on the criteria of
Calorie Consumption
The ease of doing business index is prepared by
World Bank Group.
Reserve Bank of India was established in
1 April 1935, Kolkata
the five-year plan of India was based on
Harrod-Domar model
On December 8, 1951, Prime Minister Jawaharlal Nehru presented the first five-year plan to the Parliament of India
fiscal deficit means
revenue receipts minus expenditure
what do you understand by bear raid?
A bear raid is a type of stock market strategy, where a trader (or group of traders) attempts to force down the price of a stock to cover a short position. The name is derived from the common use of bear or bearish in the language of market sentiment to reflect the idea that investors expect downward price movement.
the national income estimates of India are prepared by
central statistical organization (C.S.O).
very Rapid growth in prices in which money loses its value to the point where even barter may be preferable is known as
hyper-inflation
India’s foreign exchange reserve has become the ______ largest in the world
8th
the world’s largest nuclear power station is
Kashiwazaki-Kariwa plant
the word Economics is derived from which Greek word
‘Oikonomia’.
Its meaning is ‘household management’. Economics was first to read in ancient Greece. Aristotle, the Greek Philosopher termed Economics as a science of ‘household management’.
Ponzi scheme referred to as a pearl and Investment operations that pay a return to its investors from
A Ponzi scheme is an investment fraud that pays existing investors with funds collected from new investors. Ponzi scheme organizers often promise to invest your money and generate high returns with little or no risk. But in many Ponzi schemes, the fraudsters do not invest the money.
special drawing rights SDR related to
International Monetary Fund (IMF)
Special drawing rights (SDR) refer to an international type of monetary reserve currency created by the International Monetary Fund (IMF) in 1969 that operates as a supplement to the existing money reserves of member countries
India is regarded as a country with demographic dividend this is due to
India has more than 60% of its population in the age-group of 15-64 years, which is capable of working and hence the highest potential to contribute to the need of labour and human capital
gilt-edged market means
of the best quality
The market for government securities or the securities guaranteed by the government. Since the government cannot default on its payment obligations, the government securities are risk-free and hence known as “gilt-edged” - which means ‘of the best quality
Which organization publishes the world investment report annually
UNCTAD |.. World Investment Reports.
The World Investment Report has been published annually since 1991.
the difference between outflow and inflow of foreign currency is known as
Current Account Deficit
which theory is also known as the theory of income determination
Keynes theory of employment
In addition, Keynes advocated that if there is an increase in national income, there would be an increase in the level of employment and vice versa. Therefore, Keynes’s theory of employment is also known as the theory of employment determination and the theory of income determination.
which Enactments in India has been framed specially to deal more effectively with the problem of Non-Performing Assets in the Banking System?
SARFAESI Act, 2002
The Securitisation and Reconstruction of Financial Assets and Enforcement of Security Interests Act (2002)
is an act allowing banks and other financial institutions to auction residential or commercial properties of the Defaulter of a loan to recover the loan
what indicates borrowing requirements of the government
Primary Deficit
indicates the borrowing requirements of the government, excluding interest. It is the amount by which the total expenditure of a government exceeds the total income. … Normally, when the government raises a loan, it includes the interest amount.
A repair for a known software bug, usually available at no charge on the internet, is called a
Patch
which tax payable on a person’s property on his death
Estate duty,
imposed when someone dies, was a tax on the value of assets transferred upon the person’s demise. The duty rate was as high as 85 percent
India’s largest export earning comes from
Mineral fuels including oil: US$48.3 billion (14.9% of total exports)
Gems, precious metals: $40.1 billion (12.4%)
the SEBI was established in which year
12 April 1992
