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CSE > Multiple from Economics Insights > Flashcards

Multiple from Economics Insights Flashcards

1
Q

counter-cyclical fiscal policy

A

stabilizes the business cycle by being contractionary (reduce spending/increase taxes) in good times and expansionary (increase spending/reduce taxes) in bad times.

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2
Q

pro-cyclical fiscal policy

A

one wherein fiscal policy reinforces the business cycle by being expansionary during good times and contractionary during recessions.

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3
Q

fiscal prudence

A

spending within budget

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4
Q

Fiscal Responsibility and Budget Management (FRBM) Act in 2003’s objective

A

. Its objective was to institutionalise fiscal prudence and reduce the country’s fiscal deficit in such a manner that it gradually moves towards balancing the Budget.

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5
Q

revenue deficit

A

one of the major reasons for a large fiscal deficit

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6
Q

A State Legislature may provide for the representation of which of the following persons in a municipality

A

Persons having special knowledge or experience in municipal administration without the right to vote in the meetings of municipality.
The members of the Lok Sabha and the state legislative assembly representing constituencies that comprise wholly or partly the municipal area.
The members of the Rajya Sabha and the state legislative council registered as electors within the municipal area.
The chairpersons of committees (other than wards committees).

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7
Q

Cantonment works under the administrative control of the

A

defence ministry of the Central government.

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8
Q

97th Constitutional Amendment Act of 2011 gave

A

a constitutional status and protection to co-operative societies

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9
Q

The subject of ‘urban local government’ in Union Territories (UT) is dealt by the

A

Union Ministry of Home Affairs

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10
Q

A State can be designated into a Union Territory (UT) through

A

by a law enacted by the Parliament

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11
Q

Territorial Jurisdiction of Bombay High Court:

A

Maharashtra, Goa, Dadra and Nagar Haveli and Daman and Diu

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12
Q

Territorial Jurisdiction of Calcutta High Court:

A

West Bengal and Andaman and Nicobar Islands.

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13
Q

Territorial Jurisdiction of Kerala High Court:

A

Kerala and Lakshadweep.

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14
Q

The incremental capital output ratio (ICOR)

A

The incremental capital output ratio (ICOR) denotes the relationship between the level of investment made in the economy and the consequent increase in the gross domestic product (GDP).

The Incremental Capital-Output Ratio (ICOR) is the ratio of investment to growth which is equal to the reciprocal of the marginal product of capital. The higher the ICOR, the lower the productivity of capital or the marginal efficiency of capital. The ICOR can be thought of as a measure of the inefficiency with which capital is used.

In FY19 (2018-19), the implicit incremental capital-output ratio (ICOR) was 4.6. This is relatively high because of deficient capacity utilisation.

Historically, India’s average ICOR during the three-year period from FY17 to FY19 has averaged 4.23.

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15
Q

expenditure by the Government are considered as Transfer payments?

A

Expenditure like pensions, scholarships and UBI are direct transfers of money and do not create any output. They are called Transfer payments. They are one-way payment of money for which no good or service is received in exchange. Transfer payments may be conditional cash transfers or unconditional cash transfers.

Subsidies are not considered transfer payments because they are linked to an economic transaction.

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16
Q

Personal Disposable Income (PDI) ≡

A

PI – Personal tax payments – Non-tax payments.

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17
Q

All the NBFCs are regulated by RBI

A

No. Housing Finance Companies, Merchant Banking Companies, Stock Exchanges, Companies engaged in the business of stock-broking/sub-broking, Venture Capital Fund Companies, Nidhi Companies, Insurance companies and Chit Fund Companies are NBFCs but they have been exempted from the requirement of registration under Section 45-IA of the RBI Act, 1934 subject to certain condition.

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18
Q

systemically important NBFCs

A

NBFCs whose asset size is of ₹ 500 cr or more as per last audited balance sheet are considered as systemically important NBFCs.

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19
Q

Teaser loan

A

Loans which charge lower rates of interest in the first few years after which the rates are increased.

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20
Q

In India, _________________-), under the Ministry of Commerce & Industry conducts anti-dumping investigations.

A

Directorate General of Trade Remedies (DGTR

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21
Q

Off-budget borrowing.

A

not part of the calculation of the fiscal indicators despite fiscal implications

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22
Q

inflation target to be set by the ___________, in consultation with the ___________, once in every five years.

A

Government of India

Reserve Bank

23
Q

Merchant Banker/Venture Capital Fund Company/stock-exchanges/stock brokers/sub-brokers are regulated by

A

Securities and Exchange Board of India,

24
Q

GDP deflator called implicit price deflator

A

is a measure of inflation. It is the ratio of the value of goods and services an economy produces in a particular year at current prices to that of prices that prevailed during the base year.

25
Q

External Commercial borrowing is a part of

A

Capital account.

26
Q

there is__________ convertibility in India since August 20, 1993

A

full current account

27
Q

TRIMs are rules that __________ and thereby enable international firms to operate more easily within foreign markets

A

restrict preference of domestic firms

28
Q

Though pulses are grown in both Kharif and Rabi seasons, Rabi pulses contribute more than _______of the total production.

A

60 per cent

29
Q

_______________ are the top five pulses producing States.

A

Madhya Pradesh, Maharashtra, Rajasthan, Uttar Pradesh and Karnataka

30
Q

Marginal Standing Facility (MSF)

A

penal rate at which banks can borrow money from the central bank over and above what is available to them through the LAF window.
always higher than the repo rate

31
Q

Currency Deposit Ratio (CDR).

A

It reflects people’s preference for liquidity.

It generally increases during the festive season.

32
Q

Higher CRR can also _________ impact the economy as lesser availability of loanable funds

A

negatively

33
Q

leading causes of currency depreciation.

A

Easy monetary policy and high inflation

34
Q

central bank’s main risk provision accounts are

A

Contingency Fund
Currency and Gold Revaluation Account (CGRA)
Investment Revaluation Account Foreign Securities (IRA-FS)
Investment Revaluation Account-Rupee Securities (IRA-RS).

35
Q

monetary base (also base money, high-powered money, reserve money) in a country is the total amount of bank notes and coins. This includes:

A

the total currency circulating in the public,
plus the currency that is physically held in the vaults of commercial banks,
plus the commercial banks’ reserves held in the central bank.

36
Q

Directorate General of Foreign Trade (DGFT)

A

Ministry of Commerce and Industry

37
Q

Labour Bureau.

A

union labour ministry

38
Q

List Of Industries To Be Reserved For manufacture Of Items Exclusively in the Public Sector

A

Arms and ammunition and allied items of defence equipment

Defence aircraft and warships.

Atomic Energy.

Coal and lignite

Mineral oils.

Mining of iron ore, manganese ore, chrome ore, gypsum, sulphur, gold and diamond.

Mining of copper, lead, zinc, tin, molybdenum and wolfram.

Minerals specified in the Schedule to the Atomic Energy (Control of production and use) Order, 1953.

Railway transport.

39
Q

Capital Goods refer to

A

products that are used in the production of other products but are not incorporated into the new product.

40
Q

The three-sector model in economics divides economies into three sectors of activity:

A

extraction of raw materials (primary), manufacturing (secondary), and services (tertiary).

41
Q

2nd planning commission

A

based on the ideas of Mahalanobis

tried to build the basis for a socialist pattern of society.

42
Q

plan holidays

A

(from 1966 to 1967, 1967–68, and 1968–69)

43
Q

___________ laid stress on employment, poverty alleviation (Garibi Hatao), and justice.

A

The Fifth Five-Year Plan

44
Q

Open Acreage Licensing

A

Hydrocarbon exploration

45
Q

low base effect

A

when denominator is low, accordingly percentage can look more

46
Q

Ministry of Mines is responsible for

A

Mining and metallurgy of non-ferrous metals

Administration and management of Geological Survey of India

47
Q

Rent Seeking activities” by business firms often involve

A

) Lobbying the government to change rules for making business profitable

48
Q

‘Cash Management Bills

A

short term bills issued by central government to meet its immediate cash needs.

The bills are issued by the RBI on behalf of the government
They are eligible as SLR securities for Banks.

49
Q

capital market

A

Capital market deals in financial instruments and commodities that are long-term securities.

50
Q

Reserve Tranche is the economic term used in the context with

A

IMF

51
Q

indirect taxes

A

regressive effects

52
Q

All India Financial Institutions

A

Export – Import Bank of India (Exim Bank)
National Bank for Agriculture and Rural Development (NABARD)
Small Industries Development Bank of India (SIDBI)
National Housing Bank (NHB)

53
Q

Udyami Mitra’ Portal to improve accessibility of credit and handholding services to MSMEs

A

SIDBI

CSE (30 decks)

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