CBSE Class 11 Economics Liberalisation Privatisation and Globalisation An Appraisal MCQs Set 03

Question. GST has been implemented from
a) April 1, 2018
b) January 1, 2018
c) January 1, 2017
d) July 1, 2017

Answer: D

Question. Trade between two countries is knows as:
a) Bilateral trade
b) Multi lateral trade
c) Both a) and b)

Answer: A

Question. Which of the statements is most suitable to describe direction of India’s foreign trade?
a) Trade with OPEC regions has improved substantially
b) Importance of OECD countries in exports of India has increased
c) UK occupies first place in India’s exports
d) Import from SAARC has increased

Answer: A

Question. Sale tax and excise duty are examples of
a) Direct tax
b) Indirect tax
c) Both
d) None of the options

Answer: B

Question. MUDRA Bank was set up to meet the credit needs of the
a) farmers
b) small enterprises
c) large enterprises
d) exporters

Answer: B

Question. Make in India programme was launched in
a) 1991
b) 2014
c) 2015
d) 2016

Answer: B

Question. When did the Gulf Crisis take place?
a) 1985
b) 1990-91
c) 1995
d) 1975

Answer: B

Question. The economic reforms were intended to take the Indian economy into three specific directions which are
a) LPG
b) DPG
c) LDG
d) DLP

Answer: A

Question. Steps taken towards liberalisation
a) Delicensing of industries
b) Dereservation of industries
c) Delicensing of imports
d) All of these

Answer: D

Question. Which of the following is an example of direct tax
a) Corporation tax
b) Excise duties
c) Sales tax
D) None of the options

Answer: A

Question. Inwards foreign direct investment is useful because
a) Brings in management expertise
b) Brings in modern technology
c) Brings in foreign exchange
d) All of the options

Answer: D

Question. When was WTO established?
a) 1996
b) 1998
c) 2000
d) 1995

Answer: D

Question. In which year did the disinvestment process in Public Sector Enterprises in India start?
a) 2018
b) 2000
c) 1990
d) 1991

Answer: D

Question. New plan of action by government to influence production and capital formation activities in the country
a) NEP
b) NED
c) NEG
d) NPP

Answer: A

Question. Inward foreign direct investment is useful because:
a) Brings in foreign exchange
b) Brings in modern technology
c) Brings in management expertise
d) All of the options

Answer: D

Question. Which policy do these changes belong to
i) SLR and CRR reduced by RBI to increase the availability of funds
ii) Bank rate reduced
iii) SEBI made statutory
a) Monetary policy
b) Foreign trade policy
c) Fiscal policy
d) None of the options

Answer: A

Question. Under the industrial policy of 1991, the number of industries reserved for the public sector have been reduced from 17 to
a) 6
b) 8
c) 3
d) 5

Answer: B

Question. Privatization can be achieved by :
a) Leasing
b) Franchising
c) Contracting
d) All of the options

Answer: D

Question. Reasons which highlight the importance to privatisation
a) Decline in private monopoly
b) Increase employment due to exit policy for sick public enterprises
c) Reduce the cost by minimising wastages
d) Favour the objective of social welfare

Answer: C

Question. LQP raj refers to
a) license, quota, privatisation raj
b) liberalisation, quota, permit raj
c) license, quota, permit raj
d) license, quarter, privatisation raj

Answer: C

Question. Market in which the securities of government and public companies are traded
a) Foreign market
b) Stock exchange
c) Financial market
d) SEBI

Answer: B

Question. The measures taken under NEP are called
a) Economic development
b) Economic growth
c) Economy
d) Economic reforms

Answer: D

Question. How many industries are entirely reserved for the public sector?
a) 6
b) 10
c) 2
d) 4

Answer: C