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Questions Related to history

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

Consider the following statements regarding the features of the World Bank:
$1$. The Board of Governors is the supreme body
$2$. The voting power of the Governor of a member country is related to the financial contribution of the country concerned.
$3$. It gives short-term loan to its members to correct their temporary balance of payments disequilibrium.
Which one of the statements given above is/are correct?

  1. $1$ only
  2. $1$ and $2$
  3. $2$ and $3$
  4. $1, 2$ and $3$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

World Bank is the world's foremost inter-governmental organisation. It was set up in July $1944$ at the Bretton-Woods Conference. The Board of Governors is the supreme body of the World Bank, wherein each Governor is a representative of one of the member countries. The voting power of the Governor is based on the financial contribution of the country they represent.
It provides long-term loan to its member countries for economic development programmes and structural changes.

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

In the post-liberalisation period, the share of direct taxes in gross tax revenue in India has __________.

  1. increased

  2. decreased

  3. first increased and then decreased

  4. remained the same
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

In the post-liberalisation period, the share of direct taxes in gross tax revenue in India has increased.

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

Which of the following factors are largely responsible for industrial sickness in India?
$1$. Faulty planning
$2$. Mismanagement
$3$. Inadequate equity capital
$4$. Outdated technology
Select the correct answer using the codes given.

  1. $1, 2$ and $3$
  2. $2, 3$ and $4$
  3. $1, 2$ and $4$
  4. $1, 3$ and $4$
Reveal answer Fill a bubble to check yourself
B Correct answer
Explanation

The factors, which are responsible for industrial sickness in India, are mismanagement, inadequate equity capital and outdated technology.

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

Which one of the following states accounts for the bulk of production of coal in India?

  1. Madhya Pradesh

  2. Maharashtra

  3. Jharkhand

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

Earlier Bihar was the largest coal producer in India, but now after the division of Bihar the first position in production of coal is achieved by Jharkhand.

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

Which one is called Bretton-Woods Twin?

  1. IBRD and IDA

  2. IMF and IFC

  3. IMF and IBRD

  4. IDA and IFC
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

The IMF and the IBRD (the primary institution of the World Bank Group) were both established at the 1944 Bretton Woods Conference. They are collectively referred to as the Bretton Woods Twins.

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

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

  1. MIGA

  2. NABARD

  3. ADB

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

NABARD (National Bank for Agriculture and Rural Development) is an Indian apex development bank, not an agency of the World Bank. MIGA, IDA, and ADB (though ADB is a regional bank, it is often grouped in international finance discussions) are distinct from the World Bank's internal structure, but NABARD is clearly domestic.

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

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

  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
Reveal answer Fill a bubble to check yourself
B Correct answer
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.

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

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

  1. increasing returns

  2. constant returns

  3. diminishing returns

  4. negative returns
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

In production theory, the stage of diminishing returns is where the marginal product begins to decline. This is the rational stage for a producer to determine the optimal output level to maximize efficiency.

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

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

  1. freedom

  2. privatisation

  3. liberalisation

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

Liberalisation refers to the removal of government controls, such as licenses and quotas, to allow the market to function more freely. Privatisation involves transferring ownership, while globalisation involves integrating with the world economy.

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

Whom did India approach for managing the crisis?

  1. IBRD

  2. United Nations

  3. IMF

  4. A and C
Reveal answer Fill a bubble to check yourself
D Correct answer
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.