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

International Bank for Reconstruction and Development is also known as ________.

  1. IMF

  2. World Bank

  3. Federal Bank

  4. Central Bank
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

International Bank for Reconstruction and Development is one of the member of World Bank Group. It was set up in 1944. It offers loans to middle-income developing countries. The headquarter of IBRD is situated in Washington DC, USA.

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

India is a recipient of loan from which of these agencies?

  1. World Bank

  2. IMF

  3. IDA

  4. All the the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

India has historically received financial assistance and loans from both the World Bank (IBRD) and its concessional lending arm, the IDA. While the IMF typically provides balance-of-payments support, it is also a source of financial assistance.

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

SDR is the currency of IMF, which is also called as __________.

  1. white gold

  2. book keeping entry only

  3. paper gold

  4. yellow metal
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

SDR is the currency of IMF. SDR stands for Special Drawing Rights. This refers to supplementary foreign-exchange reserve. It is also known as paper gold. It is maintained by International Monetary Fund.

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

Some of the economic policies of Government are?

  1. Industrial policy

  2. Fiscal policy

  3. Tariff policy

  4. All of the above
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation
Economic policies of Government are formed for maintaining the stability of the economy. They are also formed to ensure economic development. Some of the economic policies of Government are:

1) Industrial policy which is required to control the function of industries in a country.

2) Fiscal policy is formed to maintain the money flow in the economy.

3) Tariff Policy is formed to check the tax and tariff obtained from the trade in the economy.
Multiple choice history economic system and economic policies american dominance, neo-imperialism and new economic policy insights on lpg changing economic policies

Imports growth in pre crisis (1991) period was _________ than that in post crisis period.

  1. more

  2. less

  3. equal

  4. none of the above
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

Import growth in pre crisis( 1991 ) period was less than that in post crisis period since New Economic Policy was introduced in India in 1991, which resulted downfall of import growth. Import refers to the goods and services brought in from the abroad.

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

As a result of the New Industrial Policy $1991$:

  1. Prior approval of central government is required for establishing new unit undertakings, and expanding the present undertaking.
  2. An industry intending to have more than $100$ crore of assets is required to obtain the permission of the central government.

  3. Prior approval of central government for establishing new undertakings and expanding existing undertaking is not required.

  4. Two or more companies deciding to amalgamate are required to take the prior approval of the central government.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

New Economic Policy 1991 removed all the restrictions of central government from the private sectors. Thus as a consequence, prior approval of central government for establishing new undertakings and expanding existing undertaking is not required. Three main agendas of new economic policy 1991 are- liberalization, privatization and globalization.

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

Which industry from the following is not reserved for public sector?

  1. Atomic energy

  2. Defense

  3. Rail transport

  4. None of the above.
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

The question asks which industry is NOT reserved for the public sector. Since Atomic Energy and Rail Transport are reserved for the public sector, and the options provided are limited, 'None of the above' is the correct choice because all listed industries are indeed reserved.

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

Before financial reforms, the banking system was characterised with all of the following except:

  1. Administered interest rates structure

  2. Quantitative restrictions on credit flow

  3. High revenue requirements

  4. Keeping very less lend-able resources for the priority sector
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Prior to New Economic Policy !991, a very high lend-able resources were kept for the priority sector. Administered interest rates structure, quantitative restriction on credit flow and high revenue requirements- are other features prevalent in the Indian economy prior to financial reforms of new economic policy.