201. 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

Answer: Rs 50 crore

202. What are costs which vary with output called?

a) overhead costs
b) indirect costs
c) prime costs
d) all of the above

answer: overhead costs

203. Which of the following is known as plastic money?

a) bearer cheques
b) credit cards
c) demand drafts
d) gift cheques

Answer: credit cards

204. To get the Net National Product, we deduct what from the Gross National Product?

a) direct taxes
b) imports
c) interim payments
d) loss

Answer: loss

205. What is the main purpose of currency?

a) standard of postponed payments
b) standard of money
c) medium of exchange
d) none of these

Answer:medium of exchange

206. 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

Answer: decrease in the external value of money

207. Which of the following is not a direct tax?

a) estate duty
b) agricultural income tax
c) state excise
d) corporation tax

Answer: agricultural income tax

208. Which one of the following was set up during the Seventh Five Year Plan to help the low income groups?

b) Regional rural bank
c) National Housing Bank
d) UTI Bank

answer: NABARD

209. The launching of five year plans in India saw the introduction of

a) mixed economy
b) socialist economy
c) capitalist economy
d) closed economy

Answer: mixed economy

210. Land development banks in India are owned by the

a) RBI
b) State governments
c) Commercial banks
d) Cooperative societies

Answer: Cooperative societies

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