OTEE Economics and Finance

Question 1

Which organization publishes the 'World Economic Outlook' report?

Accepted Answer

International Monetary Fund

Answer

World Bank

Answer

World Trade Organization

Answer

United Nations

Question 2

What is the term for the total value of goods and services produced within a country's borders in a year?

Accepted Answer

Gross Domestic Product

Answer

Gross National Product

Answer

Net National Product

Answer

National Income

Question 3

The Reserve Bank of India was established in which year?

Accepted Answer

1935

Answer

1930

Answer

1947

Answer

1949

Question 4

Which type of tax is levied on income and profits?

Accepted Answer

Direct tax

Answer

Indirect tax

Answer

Excise duty

Answer

Value Added Tax

Question 5

The term 'Fiscal Policy' refers to the government's use of:

Accepted Answer

Taxation and public expenditure

Answer

Interest rates and money supply

Answer

Exchange rates and trade policy

Answer

Foreign direct investment rules

Question 6

What does the term 'Inflation' mean in economics?

Accepted Answer

A general increase in price levels over time

Answer

A rise in the purchasing power of money

Answer

A decrease in interest rates

Answer

An increase in GDP growth rate