31. Consider the following statements : a. NTPC has diversified to hydropower sector b. Power Grid Corporation has diversified into telecom sector. Which of the statements below is correct ?
| Answer : Option D |
| Explanation : |
| NTPC Limited is the largest Indian state-owned electric utilities company based in New Delhi, India. NTPC's core business is engineering, construction and operation of power generating plants and providing consultancy to power utilities in India and abroad. The name of the Company 'National Thermal Power Corporation Limited' was changed to 'NTPC Limited' with effect from 28 October, 2005. The primary reason for this was the company's foray into hydro and nuclear based power generation along with backward integration by coal mining. The Power Grid Corporation of India is an Indian state-owned electric utilities company headquartered in Gurgaon, India. Power Grid wheels about 50% of the total power generated in India on its transmission network. Power Grid has also diversified into Telecom business and established a telecom network of more than 25,000 km across the country. |
32. Production function expresses
| Answer : Option C |
| Explanation : |
| Production involves transformation of inputs into outputs. The output is a function of input. The functional relationship between physical inputs and physical output of a firm is called production function. The word 'function' in mathematics means the precise relationship that exists between one dependent variable and a number (or one) of independent variables. The production function states the maximum quantity of output that can be produced from any given quantities of various inputs during a given period of time. |
33. The Oilseeds Production Programme (OPP) was launched in
| Answer : Option B |
| Explanation : |
| The Government of India started the Oil Seeds Production programme in 1986 to harness the best of production, processing and management technologies to accelerate self reliance in oilseeds and vegetable oils. The programme was designed to supplement the efforts of the state governments to increase the production and productivity of groundnut, rapeseed/ mustard, soybean, sunflower, Sesamum, castor, safflower, linseed and Niger grown in the states. |
34. Which one of the following is not a quantitative credit control measure of a Central Bank ?
| Answer : Option D |
| Explanation : |
| The Central Bank uses Quantitative control to regulate the volume of total credit. Quantitative methods are: (i) Manipulation of Bank Rate; (ii) Open market operations; (iii) Manipulation of Cash reserve ratio; (iv) Repo & Reverse Repo; and (v) Altering Statutory Liquidity Ratio. Moral persuasion and direct action is a qualitative method. |
35. Surplus earned by a factor other than land in the short period of referred to as
| Answer : Option A |
| Explanation : |
| Quasi-rent is the surplus which is received in the short period because of demand exceeding the supply by the man made factors besides land. It is an analytical term in economics, for the income earned, in excess of post-investment opportunity cost, by a sunk cost investment. In general, an economic rent is the difference between the income from a factor of production in a particular use, and either the cost of bringing the factor into economic use (Classical factor rent), or the opportunity cost of using the factor, where opportunity cost is defined as the current income minus the income available in the next best use. |
36. Economic rent refers to
| Answer : Option B |
| Explanation : |
| Rent refers to that part of payment by a tenant which is made only for the use of land, i.e., free gift of nature. The payment made by an agriculturist tenant to the landlord is not necessarily equals to the economic rent. A part of this payment may consist of interest on capital invested in the land by the landlord in the form of buildings, fences, tube wells, etc. The term 'economic rent' refers to that part of payment which is made for the use of land only, and the total payment made by a tenant to the landlord is called 'contract rent'. Economic rent is also called surplus because it emerges without any effort on the part of a landlord. |
37. When marginal utility is zero, the total utility is
| Answer : Option A |
| Explanation : |
| Marginal utility measures the extra utility (or satisfaction) from consuming an additional unit of a product. Total utility is the total satisfaction from the consumption of the product. According to the Law of Diminishing Marginal Utility, total utility increases at a diminishing rate. When marginal utility is 0 this means there is no increase in total satisfaction from the consumption of that unit. So the total unit is at maximum. |
38. The credit control operation in India is performed by
| Answer : Option B |
| Explanation : |
| Credit control is most important function of Reserve Bank of India. By using credit control methods RBI tries to maintain monetary stability. There are two types of methods: (a ) Quantitative control to regulate the volume of total credit; and (b ) Qualitative Control to regulate the flow of credit. |
39. The fourteen major banks in India were nationalised in the year
| Answer : Option A |
| Explanation : |
| In 1969, 14 major private commercial banks were nationalized. This was followed by a second phase of nationalization in 1980, when Government of India acquired the ownership of 6 more banks, thus bringing the total number of nationalized Banks to 20. |
40. About how many Indians cannot meet their essential needs as per a report by McKinsey Global Institute (MGI) released on 19th February, 2014 ?
| Answer : Option B |
| Explanation : |
| In its report, McKinsey Global Institute (MGI) estimated that 680 million Indians, or 56 per cent of the population, lacks the means to meet their essential needs. It proposed a new 'empowerment line' that aims to measure the minimum economic cost for a household to fulfill eight most basic needs. |
41. Which among the following subjects is not an aim of the monetary policy of the Reserve Bank of India ?
| Answer : Option A |
| Explanation : |
| The Reserve Bank of India is the main monetary authority of the country and beside that the central bank acts as the bank of the national and state governments. It formulates, implements and monitors the monetarypolicy as well as it has to ensure an adequate flow of credit to productive sectors. Objectives are maintaining price stability and ensuring adequate flow of credit to productive sectors. |
42. What is the name of the electronic communication network of the Reserve Bank of India ?
| Answer : Option D |
| Explanation : |
| RBINet is a communica-tion software, developed in 'C' and available for both DOS and UNIX machines. It allows free format messaging and file transfer on the existing BANKNET infrastructure with the help of UNIX servers installed at the 4 NCCs. Each RBINet user interacts with the local UNIX server through PADs connected to the X.25 switch. The UNIX servers in turn communicate with each other using TCP/IP over the X.25 protocol. The software allows free format messaging without any restrictions on the length of the message, enables file transfer of both ASCII-text and Binary (spreadsheets, data bases, programs etc.) files, facilitates dial-up access, and has security features such as end-to-end encryption, audit trail, etc. |
43. Prime cost is equal to
| Answer : Option B |
| Explanation : |
| Prime Cost refers to a business's expenses for the materials and labor it uses in production. Prime cost is a way of measuring the total cost of the production inputs needed to create a given output. By analyzing its prime costs, a company can determine how much it must charge for its finishedproduct in order to make a profit. Variable costs are expenses that change in proportion to the activity of a business. Variable cost is the sum of marginal costs over all units produced. It can also be considered normal costs. Fixed costs and variable costs make up the two components of total cost. Prime Cost = Direct Materials + Direct Labour+ Direct expenses. This comes to Variable cost + Administrative cost. Administrative cost is the cost associated with the general management of organization in accounting. |
44. Gross domestic product is a measure of :
| Answer : Option D |
| Explanation : |
| Gross domestic product (GDP) is the market value of all officially recognized final goods and services produced within a country in a year. GDP can be determined in three ways: the production (or output) approach, the income approach, or the expenditure approach. |
45. The 'break-even point' is where
| Answer : Option B |
| Explanation : |
| The break-even point (BEP) is the point at which cost or expenses and revenue are equal: there is no net loss or gain, and one has 'broken even'. A profit or a loss has not been made, although opportunity costs have been 'paid', and capital has received the risk-adjusted, expected return. |
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