76. Small farmers in the country have been defined as those farmers having land holding of
| Answer : Option C |
| Explanation : |
| In India, 'Small Farmer' means a farmer cultivating (as owner or tenant or share cropper) agricultural land of more than 1 hectare and up to 2 hectares (5 acres). 'Marginal Farmer' means a farmer cultivating agricultural land up to 1 hectare (2.5 acres). |
77. Rashtriya Krishi Bima Yojana was introduced in
| Answer : Option A |
| Explanation : |
| The Rashtriya Krishi Bima Yojna was introduced in 1999. The scheme provides comprehensive risks insurance against yield losses viz. Drought, Hailstorm, Floods, Pests Disease etc. It is implemented by the Agriculture Insurance Corporation of India (AIC). |
78. Which one of the following organisations is a financial institution ?
| Answer : Option A |
| Explanation : |
| ICICI (Industrial Credit and Investment Corporation of India) Bank is an Indian multinational banking and financial services company headquartered in Mumbai, Maharashtra. It is the largest private sector bank and overall the second largest bank in India after State Bank of India. |
79. Over use of resource is called 'Tragedy of Commons'. It was propounded by:
| Answer : Option C |
| Explanation : |
| In economics, the tragedy of the commons is the depletion of a shared resource by individuals, acting independently and rationally according to each one's self-interest, despite their understanding that depleting the common resource is contrary to the group's long-term best interests. In 1968, ecologist Garrett Hardin explored this social dilemma in 'The Tragedy of the Commons', published in the journal Science. |
80. Which State Government has recently abolished 'agriculture income tax'
| Answer : Option D |
| Explanation : |
| Karnataka's Chief Minister Siddaramaiah, in March 2016, made the announcement to abolish the tax on agricultural income while presenting the State Budget for 2016-17. This in turn will provide relief to many tea and coffee companies besides thousands of individual coffee growers. Plantation companies had to pay a 35 per cent tax on their net income. |
81. Seawater, fresh air, etc., are regarded in Economics as
| Answer : Option C |
| Explanation : |
| Free goods are what is needed by the society and is available without limits. The free good is a term used in economics to describe a good that is not scarce. A free good is available in as great a quantity as desired with zero opportunity cost to society. |
82. Planning and control are so related that
| Answer : Option A |
| Explanation : |
| Planning and control are two basic and interrelated managerial functions. They are so interrelated that they can be and often are considered as being one function. Planning is the preparation activity while control is the post-operation function. Both of them are so closely related that they are treated as Siamese twins. Planning sets the objectives, goals, targets on the basis of available resources with their given constraints. Control is the integral part of effective planning. Similarly control involves assessment of the performance, such assessment can be made effectively only when some standard of are set in advance. |
83. Which of the following programmes meet the credit needs of poor women?
| Answer : Option B |
| Explanation : |
| Rashtriya Mahila Kosh (RMK) was set up in March 1993 to meet credit needs of poor women, particularly in the informal sector, who have little or no access to formal credit institutions. RMK extends microfinance to the poorest and asset less women entrepreneurs for income generating activities. |
84. Which of the following is not an objective of the monetary policy of the RBI ?
| Answer : Option B |
| Explanation : |
| Monetary policy is the process by which monetary authority of a country, generally a central bank controls the supply of money in theeconomy by exercising its control over interest rates in order to maintain price stability and achieve high economic growth. In India, the central monetary authority is the Reserve Bank of India (RBI). It is so designed as to maintain the price stability in the economy. |
85. When was the Jawahar Rozgar Yojna launched ?
| Answer : Option A |
| Explanation : |
| By merging the two erstwhile wage employment programme – National Rural Employment programme (NREP) and Rural Landless Employment Guarantee Programme (RLEGP) the Jawahar Rozgar Yojana (JRY) was started with effect from April, 1, 1989 on 80:20 cost sharing basis between the centre and the States. The main objective of the Yojana was additional gainful employment for the unemployed and under-employed persons in rural areas. The other objective was the creation of sustained employment by strengthening rural economic infrastructure and assets in favour of rural poor for their direct and continuing benefits. |
86. Which one of the following is not an instrument of Fiscal policy?
| Answer : Option D |
| Explanation : |
| Open market operations (OMO) refers to the buying and selling of government securities in the open market in order to expand or contract the amount of money in the banking system. A central bank (Reserve Bank of India) uses OMO as the primary means of implementing monetary policy. |
87. The main difference between Gross Domestic Product (GDP) and Gross National Product (GNP is
| Answer : Option C |
| Explanation : |
| Gross Domestic Product (GDP) is a measure of the total value of the goods and services produced in a country during one year, excluding incomefrom investment abroad by residents of the country. It is the Gross National Product less net income from property or investment abroad. |
88. India adopted the Five-Year Plans from
| Answer : Option B |
| Explanation : |
| India borrowed features of fundamental duties and planning mechanism from the former Soviet Union. India opted for planned economic growth model as resources were scarce at the time of independence. So it was imperative for the leaders to move along planned model so as to achieve optimum utilization of resources development and meeting the aim of social justice simultaneously. |
89. 'Himayat' is a training cumplacement programme for unemployed youth in the State of
| Answer : Option B |
| Explanation : |
| Himayat is a training-cum-placement programme for unemployed youth in Jammu and Kashmir. Under the program, the youth of the state will be provided short-term training for at least 3 months, in a range of skills for which there is good market demand. The scheme aims to train 1,00,000 youth in 5 years and provide atleast 75% of them with jobs. |
90. A refrigerator operating in a chemist's shop is an example of
| Answer : Option B |
| Explanation : |
| Final goods are goods that are ultimately consumed rather than used in the production of another good. For example, a car sold to a consumer is a final good; the components such as tires sold to the car manufacturer are not; they are intermediate goods used to make the final good. |
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