Tag: history

Questions Related to history

Liberalization means ______.

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

  1. removal of trade barriers

  2. opening border with neighbouring countries

  3. relaxation of Government policies and regulations in order to encourage free and fair growth of trade and industry.

  4. abolition of various business laws and acts

Show answer
Correct Option: C
Explanation:

Liberalization refers to the relaxation of Government policies and regulations in order to encourage free and fair growth of trade and industry. It is one of the policies under new economic policy which was adopted by Indian economy in 1991. It promoted free and fair trade.

India started liberalization with effect from ______.

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

  1. 1956

  2. 1991

  3. 2001

  4. 1998

Show answer
Correct Option: B
Explanation:

Liberalization refers to the relaxation of Government policies and regulations in order to encourage free and fair growth of trade and industry. It is one of the policies under new economic policy which was adopted by Indian economy in 1991. It promoted free and fair trade.

Privatization means ________.

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

  1. transfer of assets or services from public ownership to private ownership in part or full.

  2. sale of all government assets and properties to public.

  3. sale of profit making companies to multi-national companies.

  4. sale of loss making PSUs to foreign countries.

Show answer
Correct Option: A
Explanation:

Privatization includes ownership, organizational and operational measures. It refers to the process of transferring or sale of the public ownership to private ownership in part or full. It is a process of reducing government's role in the economy.

 _______ is/are the ways towards liberalization.

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

  1. Privatisation

  2. Liberalize economic policies.

  3. Financial sector reforms.

  4. All of the above

Show answer
Correct Option: D
Explanation:
Ways towards liberalization are:
1) Privatization: It refers to the sale or transfer of public assets to the private ownership.
2) Liberalize economic policies: Restriction from economic policies were abolished and liberalized in the global arena with the global market orientation.
3) Financial sector reforms: Financial sector was reformed in favor of liberalization.

As per Patents Amendment Act, 2002, term of a patent right is limited to ______.

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

  1. 20 years from the date of filing

  2. 16 years from the date of filing

  3. 10 years from the date of filing

  4. 5 years from the date of filing

Show answer
Correct Option: A
Explanation:

As per Patents Amendment Act, 2002, term of a patent right is limited to 20 years from the date of filing. Patent is also known as copyright or license. The Patent Amendment Act provided for filing applications for product patent.

IMF has a ______ membership of countries.

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

  1. 199

  2. 189

  3. 220

  4. 76

Show answer
Correct Option: B
Explanation:

IMF stands for International Monetary Fund. It was established in 1945. Headquarter of IMF  is in Washington DC. It has 189 countries as members as of 2018. It is established to promote financial stability of the member countries.

IBRD stands for ________.

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

  1. International Bank for Reconstruction and Development

  2. Industrial Bank for Revival and Development

  3. Investment Bank for Reconstruction and Development

  4. Indian Bank for Reconstruction and Development

Show answer
Correct Option: A
Explanation:

IBRD stands for International Bank For Reconstruction and Development. It is set up in 1944. It is one of the members of the World Bank Group and is headquartered in Washington DC. It  offers loans to middle-income developing countries.

IMF was established in _______.

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

  1. 1946

  2. 1964

  3. 1976

  4. 1945

Show answer
Correct Option: D
Explanation:

IMF stands for International Monetary Fund. It was established in 1945.  Headquater of IMF  is in Washington DC. It's established to promote financial stability of the member countries.

Which of these is not a part of World Bank Group?

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

  1. RBI

  2. IDA

  3. MIGA

  4. ICSID

Show answer
Correct Option: A

IBRD was set up in ______.

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

  1. 1965

  2. 1949

  3. 1944

  4. 1990

Show answer
Correct Option: C
Explanation:

IBRD stands for International Bank For Reconstruction and Development. It is set up in

  1. It is one of the members of the World Bank Group and is headquartered in Washington DC. It  offers loans to middle-income developing countries.