The excess of total expenditure of Government over its total receipts, excluding borrowings, is known as -
1) Primary deficit
2) Fiscal deficit
3) Current deficit
4) Capital deficit

The situation where the equilibrium level of real GDP falls short of potential GDP is known as -
1) Recessionary gap
2) Inflationary gap
3) Demand-side inflation
4) Supply-side inflation

Which one of the following is not a function of money?
1) Acts as an intermediate in the exchange process
2) Acts as a store of value
3) Used as the unit of account
4) Used for regulating consumption

The percentage by which the money the borrower pays back exceeds the money that was borrowed is called as -
1) Bank rate
2) Nominal interest Rate
3) Real interest rate
4) Terms of credit

The asset or assets that a borrower pledges in order to guarantee repayment of a loan is called as -
1) Cheque
2) Collateral
3) Guarantee card
4) Bond

The increase in private investment spending induced by the increase in Government spending is known as -
1) Crowding in
2) Deficit financing
3) Crowding out
4) Pumping out

The situation in an economy which is growing slowly along with rapid inflation (rising price level) is called -
1) Stagnation
2) Deflation
3) Stagflation
4) Recession

The mismatch in the regional or occupational pattern of job vacancies and the pattern of worker availability results in -
1) Structural unemployment
2) Disguised unemployment
3) Altered unemployment
4) Cyclical unemployment

Which one of the following statements is not correct?
1) Real GDP is calculated by valuing outputs of different years at common prices
2) Potential GDP is the real GDP that the economy would produce if its resources were fully employed
3) Nominal GDP is calculated by valuing outputs of different years at constant prices
4) Real GDP per capita is the ratio of real GDP divided by population

Which of the following sectors is/are key components of White Economy?
I. Manufacturing of Pharmaceuticals and Medical devices
II. Hospitals, dispensaries and Medical colleges
III. Research and Development in medical science
IV. Paramedical Services

Correct code is -
1) Only I, II and III
2) Only I
3) Only II, III and IV
4) All I, II, III and IV

The two largest denomination notes demonetized on 8 November, 2016 in India were -
1) 500 and 2000
2) 50 and 100
3) 500 and 1000
4) 100 and 500