Banking Awareness - Multiple Choice Questions (MCQs) and Answers for IBPS Exam | Page-3

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Questions
21 Which of the following is a major concept frequently referred in the economic literature of Nobel laureate Dr. Amartya Sen?
A Capability to function
B Corporate ethics
C Negative freedom
D Positive freedom
E Welfare economics

Answer: Option [E]
22 What Gross Domestic Product?
A It is the market value of all final goods and services made in the country
B It is the cost production of all final goods and services made in the country
C It is the cost of services made within the borders of a country in a year
D It is the market value of all final goods and services made within the borders of a country in a year
E None of the above

Answer: Option [D]
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23 Refinance facility is provided by NABARD. Which institutions can avail this facility?
A Commercial bank
B Regional rural banks
C State cooperative banks
D State Agricultural Development Finance Companies (ADFCs)
E All of the above

Answer: Option [E]
24 The largest share of Gross Domestic Product (GDP), in India comes from
A Service sector
B Defense and allied sector
C Agriculture and allied sector
D Manufacturing and construction
E Defense and public administration

Answer: Option [A]
25 Gross Domestic Product (GDP) is defined as the value of all
A Goods and services in an economy in a year
B Goods produced in an economy in a year
C Final goods and service produced in an economy in a year
D Final goods produced in economy in an economy in a year
E None of the above

Answer: Option [C]
26 Intermediate goods are not included from GDP because
A Their inclusion would understate GDP
B Their inclusion would involve double counting
C Value of intermediate goods is unknown
D They represent goods that have never been purchased so they cannot by counted
E The premise of the question is incorrect because intermediate goods are directly included in calculating GDP

Answer: Option [B]
27 The GDP is the value of all final goods and services produced
A Within the nations boundaries
B By citizen of the country
C By domestically owned companies
D By domestically controlled companies
E None of the above

Answer: Option [A]
28 Which of the following is one the indicators of Human Development Index
A Life expectancy at birth
B Total cost of the agricultural land with a family
C Nature of employment, casual permanent or semi-permanent
D Total area of the agricultural land with a family
E None of the above

Answer: Option [A]
29 In economic terms, the total market value of all final goods and services produced in a country in a given year is known as
A PPP
B GDP
C GNI
D INFLATION
E wealth of a nation

Answer: Option [B]
30 The higher rate of growth of economy certainly reduces
A population of country
B Gender inequalities
C poverty
D flow of foreign direct investment
E None of the above

Answer: Option [C]

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