Q:

Which institution in India acts as 'lender of the last resort'?

A) Finance Ministry	B) Reserve Bank of India
C) Treasury	D) Currency Printing Presses

Answer & Explanation Answer: B) Reserve Bank of India

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Filed Under: Business Awareness
Exam Prep: Bank Exams

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Q:

Which cricketer is not in the list of ICC Cricket Hall of Fame?

A) Anil Kumble	B) Bishen Singh Bedi
C) Kapil Dev	D) Ravi Shastri

Answer & Explanation Answer: D) Ravi Shastri

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Filed Under: Sports
Exam Prep: Bank Exams

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Q:

Identify a use of the isotope of uranium.

A) Fuel in nuclear reactors	B) Treatment of goitre
C) Treatment of cancer	D) Fuel in aeroplanes

Answer & Explanation Answer: A) Fuel in nuclear reactors

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Filed Under: Chemistry
Exam Prep: Bank Exams

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Q:

Which of the following is not an assumption of perfect competition?

A) There are many buyers and sellers	B) Average total costs continually decrease.
C) The good sold by all sellers in the market is assumed to be homogeneous.	D) Buyers and sellers in the market are assumed to have perfect information.

Answer & Explanation Answer: B) Average total costs continually decrease.

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

Which of the following sets of taxes belongs to Central Government?

A) Excise duty, Sales tax and Custom duty	B) Income tax, Custom duty and House tax
C) Excise duty, Custom duty and Income tax	D) Custom duty, Entertainment tax and Income tax

Answer & Explanation Answer: C) Excise duty, Custom duty and Income tax

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

A manufacturer faces price elasticity of demand of a 1.25 for its product. If it lowers its price by 6.4%, the increase in quantity sold will be _____.

A) 5.15 percent	B) 7.65 percent
C) 8 percent	D) 5.12 percent

Answer & Explanation Answer: C) 8 percent

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

In which of the following types of economy are the factors of production owned individually?

A) Capitalist	B) Socialist
C) Mixed	D) Both Capitalist and Socialist

Answer & Explanation Answer: A) Capitalist

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Filed Under: Indian Economy
Exam Prep: Bank Exams

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Q:

___________________________ is an Indian Government Savings Bond, primarily used for small savings and income tax saving investments in India.

A) Provident Fund	B) Life Insurance Policies
C) National Saving Certificate	D) Long term government bonds

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