Tag: history

Questions Related to history

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?

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

  1. $1$ only

  2. $1$ and $2$

  3. $2$ and $3$

  4. $1, 2$ and $3$

Show answer
Correct Option: B
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.

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

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

  1. increased

  2. decreased

  3. first increased and then decreased

  4. remained the same

Show answer
Correct Option: A
Explanation:

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

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 Outdated technology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.

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

  1. $1, 2$ and $3$

  2. $2, 3$ and $4$

  3. $1, 2$ and $4$

  4. $1, 3$ and $4$

Show answer
Correct Option: B
Explanation:

The factors, which are responsible for industrial sickness in India, are mismanagement, inadequate equity capital and outdated technology.

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

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

  1. Madhya Pradesh

  2. Maharashtra

  3. Jharkhand

  4. Odisha

Show answer
Correct Option: C
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.

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

Show answer
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

Show answer
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

Show answer
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

Show answer
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

Show answer
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

Show answer
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.