Economics Practice Quiz 39

Q1.Why is the availability of credit on reasonable terms considered a right of the people?

A. Without it, a large section of them would be kept out of the development process B. It ensures equal distribution of wealth among all citizens C. It promotes international trade and economic cooperation D. It reduces government debt and fiscal deficits

Q2.Which of the following is mentioned as an example of an innovative intervention related to credit availability?

A. Grameen Bank B. World Bank C. International Monetary Fund (IMF) D. Asian Development Bank (ADB)

Q3.From which organization is the data on formal and informal sector credit for the chapter drawn?

A. National Statistical Office (NSO) B. Reserve Bank of India (RBI) C. National Bank for Agriculture and Rural Development (NABARD) D. Securities and Exchange Board of India (SEBI)

Q4.Which specific survey, conducted by NSSO (now NSO) in 2019, provided data on rural debt for the chapter?

A. All India Debt and Investment Survey, 77th Round B. National Family Health Survey, 5th Round C. Economic Census, 7th Round D. Annual Survey of Industries, 2019

Q5.What are the sources for information and data on Grameen Bank mentioned in the text?

A. Newspaper reports and websites B. Government gazettes and official records C. Academic journals and research papers D. World Bank publications and reports

Q6.Where can one find details of bank-related statistics or specific bank details?

A. Websites of the Reserve Bank of India and concerned banks B. Ministry of Finance annual reports C. Stock exchange bulletins and financial news D. International financial institutions' databases

Q7.Which organization's website provides data on self-help groups (SHGs)?

A. National Bank for Agriculture and Rural Development (NABARD) B. Reserve Bank of India (RBI) C. National Statistical Office (NSO) D. Small Industries Development Bank of India (SIDBI)

Q8.What is the primary focus of the second part of the chapter regarding credit?

A. Aspects of credit arrangements and how they affect people B. History of credit systems in ancient civilizations C. Impact of credit on international trade balances D. Government policies for regulating credit markets

Q9.What is the primary reason people prefer to receive payments in money?

A. It is a legal tender recognized by the government. B. It can be easily exchanged for any commodity or service one desires. C. It helps in accumulating wealth quickly. D. It reduces the need for physical storage of goods.

Q10.In a barter system, what is an essential feature described in the text?

A. The use of a common medium of exchange. B. The presence of a central banking authority. C. Double coincidence of wants. D. Transactions involving a promise to pay money later.

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Economics Practice Quiz 39