Tag: insights on lpg

Questions Related to insights on lpg

Which one is called Bretton-Woods Twin?

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. IBRD and IDA

  2. IMF and IFC

  3. IMF and IBRD

  4. IDA and IFC

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Correct Option: C

Which of the following is not the agency of World Bank?

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. MIGA

  2. NABARD

  3. ADB

  4. IDA

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Correct Option: B

If an industry is characterized by economies of scale then _________.

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. barriers to entry are not very large

  2. long-run unit costs of production decreases as the quantity the firm produces increases

  3. capital requirement are small due to the efficiency of the large scale operation

  4. the costs of entry into the market are likely to be substantial

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Correct Option: B
Explanation:

In microeconomics, economics of scale are the cost advantages that an enterprise obtains due to expansion. There are factors that cause a producer's average cost per unit to fall as the scale of output is increased. "Economics of scale" is a long run concept and refers to reductions in unit cost as the size of a facility and the usage levels of other inputs increase.

It is prudent to determine the size of the output when the industry is operating in the stage of______.

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. increasing returns

  2. constant returns

  3. diminishing returns

  4. negative returns

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Correct Option: C

Freeing the economy from all unnecessary controls and regulations is referred to as ________.

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. freedom

  2. privatisation

  3. liberalisation

  4. globalisation

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Correct Option: C

Whom did India approach for managing the crisis?

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. IBRD

  2. United Nations

  3. IMF

  4. A and C

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Correct Option: D
Explanation:
In 1991, India met with an economic crisis relating to its external debt. India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis.

IBRD is also known as __________.

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. International Monetary Fund (IMF)

  2. United Nations

  3. World bank

  4. none of these

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Correct Option: C
Explanation:

In 1991, India met with an economic crisis relating to its external debt. India approached the International Bank for Reconstruction and Development (IBRD), popularly known as World Bank and the International Monetary Fund (IMF), and received $7 billion as loan to manage the crisis.

Which of the following were short-term measures in the NEP?

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. Structural reform measures

  2. Stabilisation measures

  3. Both A and B

  4. None

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Correct Option: B
Explanation:
India agreed to the conditionalities of World Bank and IMF and announced the New Economic Policy (NEP). The NEP consisted of wide ranging economic reforms. This set of policies can broadly be classified into two groups: the  stabilisation measures and the structural reform measures. Stabilisation measures are short term measures, on the other hand, structural reform policies are long-term measures.

Which policy was announced when India agreed to the conditionalities imposed by IMF and IBRD?

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. Fiscal policy

  2. New Economic Policy

  3. Exim Policy

  4. None of the above

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Correct Option: B

The NEP was classified into two groups. Which are the two groups?

history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

  1. Stabilization measures and Structural reform measures

  2. Corrective measures and recovery measures

  3. Industrial development measures and remedial measures

  4. None of the above

Show answer
Correct Option: A
Explanation:
The NEP consisted of wide ranging economic reforms. NEP stands for New Economic Policy. This set of policies can broadly be classified into two groups: the stabilization measures and the structural reform measures.