Current Affairs(2014) Series 2

Q.1) When there is one buyer and many sellers in a market, what is this situation called ?
1) Monopoly
2) Oligopoly
3) Monopsony
4) Monotony
5) None of these
Correct Ans:
3 "
Monopsony
A monopsony is a market form in which only one buyer faces many seller. It is an example of imperfect competition, similar to monopoly. The term was first introduced by Joan Robinson in her influential book."


Q.2) What do we call a situation, when the government meet the gap of the public expenditure and public revenue by printing new currency ?
1) Fiscal Deficit
2) Fiscal Situation
3) Deficit Financing
4) Differential Accumulation
5) None of these
Correct Ans:
3 "
Deficit Financing
Deficit Financing usually refers to conscious attempt to stimulate the economy by lowering tax rates or increasing government expenditures. Under  it, government spends more money than it receives as revenue."


Q.3) Fiscal Policy means.......................
1) Credit Policy
2) Planning Policy
3) Taxation policy
4) Subsidy Policy
5) Foreign Policy
Correct Ans:
3


Q.4) Majlis is the parliament of which of the following countries ?
1) Iran
2) Pakistan
3) Afghanistan
4) Turkey
5) Iraq
Correct Ans:
1


Q.5) In which city National Institute of Virology is situated ?
1) Pune
2) Bengaluru
3) Chennai
4) Hyderabad
5) New Delhi
Correct Ans:
1 "
Pune
The National Institute of Virology, Pune is India's premier Virology Research Institute, part of Indian Council of Medical Research (ICMR)."