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Online Economics Quiz Set No - 26

Economics questions have been taken from previous years question papers of different competitive examinations such SSC CGL, SSC CHSL, CDS, NDA, Bank, State PSC, Railways, MAT, CAT, etc.

251) Which of the following best defines the term 'Letter of Credit' as used frequently in bank transactions?
A) An order from a bank to another bank abroad authorising the payment of a particular amount to a person named in the letter
B) An unconditional undertaking given by a bank ensuring the payment of a particular amount to the drawee at a given date
C) Letter by a bank to a person stating the terms and conditions of the loan sanctioned to him by the bank
D) Statement showing outstanding deposits and credits of a bank for a particular period

252) Which of the following bodies finalises the Five Year Plan proposals?
A) Planning Commission
B) Union Cabinet
C) National Development Council
D) Ministry of Planning

253) Which of the following can be used for checking inflation temporarily?
A) Increase in wages
B) Decrease in money supply
C) Decrease in taxes
D) None of these

254) Which of the following factors contributes to an inflationary trend?
A) 15% fall in production of industrial goods
B) 15% increase in prices of agricultural products
C) 15% increase in supply of money in the market
D) None of these

255) Which of the following gives an accurate measurement of economic development through Five Year Plans?
A) Development of education and health services
B) Development of railways and roadways
C) Rise in national income and per capita income
D) Development of industrial towns and industrial estates

256) Which of the following groups of states has the largest concentration of rural poor and people living below the poverty line?
A) Karnataka, Maharashtra, Goa
B) Goa, Andhra Pradesh, Maharashtra
C) Tamil Nadu, Kerala, Goa
D) Andhra Pradesh, Karnataka, Tamil Nadu

257) Which of the following combinations is correct?
A) NABARD-Industrial Loans
B) IDBI-Short term loans
C) RBI-Long term finance
D) RRB-Agricultural finance

258) Which of the following groups suffers the most from high inflation?
A) Debtors
B) Creditors
C) Business class
D) Holders of real assets

259) Which of the following institution provide credit for agriculture and rural development?
A) SIDBI
B) RBI
C) NABARD
D) ICICI

260) Which of the following is a Direct Tax?
A) Excise duty
B) Sales tax
C) Income tax
D) VAT