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Home / General Knowledge / General Knowledge Question Answers – Series 12

General Knowledge Question Answers – Series 12

General knowledge is a pivotal part of your competitive exam preparation. if you determined to move your career in dream sectors like bank, LIC, Indian Railways, then you need to prepare numeral questions and answers from this part as an integral process.

GK Series - 12

This segment contains questions and answers from ‘Currency and Inflation’.

Just go through all the questions and try to give answer of your own before looking for the correct answer in the answer section.

1. The effect of inflation on tax revenue results in a situation known as:

Answer Options:
a. stagflation
b. fiscal drag
c. reflation
d. disinflation

Answer

Answer

fiscal drag

2. Prior to full convertibility of the rupee, the convertibility ratio was:

Answer Options:
a. 40 : 60
b. 60 : 40
c. 30 : 70
d. 70 : 30

Answer

Answer

40 : 60

3. Minimum inflation in post economic reform was in:

Answer Options:
a. 1999 – 2000
b. 2000 – 01
c. 2001 – 02
d. 2002 – 03

Answer

Answer

1999 – 2000

4. Devaluation of currency helps to promote:

Answer Options:
a. exports
b. imports at low cost
c. savings
d. national income

Answer

Answer

exports

5. ‘Devaluation’ means:

Answer Options:
a. converting rupee into gold
b. lowering of the value of one currency in comaprison of some foreign currency
c. making rupee dearer in comaprison to some foreign currency
d. None of the above

Answer

Answer

lowering of the value of one currency in comparison of some foreign currency

6. Which of the following Mahatma Gandhi series of currency notes issued by the RBI has ‘ecology’ depicted on it?

Answer Options:
a. Rs. 100/-
b. Rs. 500/-
c. Rs. 50/-
d. Rs. 5/-

Answer

Answer

Rs. 100/-

7. Which of the following prints currency notes of the denomination of Rs. 100/-?

Answer Options:
a. The bank note press, Dewas
b. The Indian Security Press, Nasik Road
c. The Security Printing Press, Hyderabad
d. All of the above

Answer

Answer

The bank note press, Dewas

8. Black money is:

Answer Options:
a. illegal earned money
b. counterfeit currency
c. money earned through underhand deals
d. income on which payment of the tax is usually evaded

Answer

Answer

income on which payment of the tax is usually evaded

9. M1 includes:

Answer Options:
a. currency with public
b. demand deposit with bank
c. other deposits with bank
d. All of the above

Answer

Answer

other deposits with bank

10. M3 includes:

Answer Options:
a. M1 + Transfer Deposits
b. M1 + Post Office Saving Deposit
c. M1 + Bank Deposits
d. M1 + National Saving Certificate

Answer

Answer

M1 + Transfer Deposits

11. A currency whose exchange are tends to fall because of persistent balance of payment deficit is known as:

Answer Options:
a. soft currency
b. hard currency
c. sinking currency
d. gold currency

Answer

Answer

soft currency

12. Convertibility of the rupee implies:

Answer Options:
a. being able to convert rupee notes into gold
b. freely permitting the conversion of rupee to other major currencies and vice-versa
c. allowing the value of rupee to be fixed by market forces
d. developing an international market for currencies in India

Answer

Answer

freely permitting the conversion of rupee to other major currencies and vice-versa

13. Which of the following accounts for cost-push inflation?

Answer Options:
a. Increase in money supply
b. increase in indirect taxation
c. increase in population
d. increase in non-plan expenditure

Answer

Answer

increase in indirect taxation

14. A steady increase in the general level of prices as a result of excessive increase in aggregate demand as compared to aggregate supply is termed as:

Answer Options:
a. demand pull inflation
b. cost-push inflation
c. stagflation
d. structural inflation

Answer

Answer

demand pull inflation

15. What is ‘Debit Card’?

Answer Options:

a. It’s a card issued by rating agency

b. It’s a card which can be used for withdrawing cash on marketing payment even in the absence of nay balance in the account
c. It’s a card which can be used for withdrawing cash or making payment if there is balance in the account
d. It’s a card which carried prepaid balance

Answer

Answer

It’s a card which can be used for withdrawing cash or making payment if there is balance in the account

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