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SBI Clerk Exam General Awareness Study Material

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Financial Awareness

Income and consumption are

a) Inversely related
b) Directly related
c) Partially related
d) Unrelated

✔Answer

✔Solution

Correct Answer Is : Directly related

Solution Is : Income and consumption are directly related as Income incresed consumption of goods also incresed but consumption of inferior goods decreases and luxury goods increases.

Which one of the following is an example for Monopoly?

a) SPIC
b) Indian Railways
c) HMT
d) Hindustan Unilever Limited

✔Answer

✔Solution

Correct Answer Is : Indian Railways

Solution Is : The answer is `Indian Railways`

What growth rate of indian economy has been projected by IMF for 2011 -12?

a) 0.095
b) 0.09
c) 0.082
d) 0.086

✔Answer

✔Solution

Correct Answer Is : 0.082

Solution Is : 0.082

Who are the price-takers under Perfect Competition ?

a) Buyers
b) Industry
c) Government
d) Firms

✔Answer

✔Solution

Correct Answer Is : Firms

Solution Is : A firm that is operating in a perfectly competitive market will be a price-taker. A price-taker can`t control the price of the good it sells , it simply takes the market price as given.

Open market operation refers to

a) Borrowing by scheduled banks from the RBI
b) Borrowing by scheduled banks to industry and trade
c) Purchase and sale of Government securities by the RBI
d) Deposit mobilisation

✔Answer

✔Solution

Correct Answer Is : Purchase and sale of Government securities by the RBI

Solution Is : An Open Market Operation ( OMO) is an activity by a central bank to buy or sell Government bonds on the open market . In India , RBI is the central bank, so it controls the policies of open market

An employment situation where the marginal productivity of agricultural labour is zero is known as

a) Structural unemployment
b) Seasonal unemployment
c) Cyclical unemployment
d) Disguised unemployment

✔Answer

✔Solution

Correct Answer Is : Seasonal unemployment

Solution Is : Seasonal unemployment refers to a situation where a number of persons are not able to find jobs during some months of the year

Which of the following is not a characteristic of the Indian economy ?

a) Low per capita income
b) Primacy of agriculture
c) Balance between heavy industry and wage goods
d) Population pressure

✔Answer

✔Solution

Correct Answer Is : Balance between heavy industry and wage goods

Solution Is : The main characteristics of Indian Economy are Low per capita income , Inequi-table distribution of income , High incidence of poverty , Rapid population growth , scarcity of capital and technological backwardness.

The basic characteristic of a capitalistic economy is

a) Full employment
b) The private ownership of the means of production
c) Absence of monopoly
d) Large scale production in primary industries

✔Answer

✔Solution

Correct Answer Is : The private ownership of the means of production

Solution Is : One of the basic characteristics of a capitalistic ecnomy is the privatisation of the means of production

Which one of the following taxes is not a direct tax ?

a) Gift tax
b) Wealth tax
c) Sales tax
d) Estate tax

✔Answer

✔Solution

Correct Answer Is : Sales tax

Solution Is : Sales taxis an indirect tax,consumed by the government of state .Rest of the tax in given options are direct tax

UNDP prepares

a) Index number of price level
b) Physical quality level
c) Human development index
d) Standard of living index

✔Answer

✔Solution

Correct Answer Is : Human development index

Solution Is : Human development index is prepared by united nation development programme.Human development index was first introduced in 1990

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SBI Clerk Exam General Awareness Study Material

Financial Awareness

Income and consumption are

Correct Answer Is : Directly related

Solution Is : Income and consumption are directly related as Income incresed consumption of goods also incresed but consumption of inferior goods decreases and luxury goods increases.

Which one of the following is an example for Monopoly?

Correct Answer Is : Indian Railways

Solution Is : The answer is `Indian Railways`

What growth rate of indian economy has been projected by IMF for 2011 -12?

Correct Answer Is : 0.082

Solution Is : 0.082

Who are the price-takers under Perfect Competition ?

Correct Answer Is : Firms

Solution Is : A firm that is operating in a perfectly competitive market will be a price-taker. A price-taker can`t control the price of the good it sells , it simply takes the market price as given.

Open market operation refers to

Correct Answer Is : Purchase and sale of Government securities by the RBI

Solution Is : An Open Market Operation ( OMO) is an activity by a central bank to buy or sell Government bonds on the open market . In India , RBI is the central bank, so it controls the policies of open market

An employment situation where the marginal productivity of agricultural labour is zero is known as

Correct Answer Is : Seasonal unemployment

Solution Is : Seasonal unemployment refers to a situation where a number of persons are not able to find jobs during some months of the year

Which of the following is not a characteristic of the Indian economy ?

Correct Answer Is : Balance between heavy industry and wage goods

Solution Is : The main characteristics of Indian Economy are Low per capita income , Inequi-table distribution of income , High incidence of poverty , Rapid population growth , scarcity of capital and technological backwardness.

The basic characteristic of a capitalistic economy is

Correct Answer Is : The private ownership of the means of production

Solution Is : One of the basic characteristics of a capitalistic ecnomy is the privatisation of the means of production

Which one of the following taxes is not a direct tax ?

Correct Answer Is : Sales tax

Solution Is : Sales taxis an indirect tax,consumed by the government of state .Rest of the tax in given options are direct tax

UNDP prepares

Correct Answer Is : Human development index

Solution Is : Human development index is prepared by united nation development programme.Human development index was first introduced in 1990

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