RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2021
RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2021
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RBI Grade B Economic & Social Issues (ESI) Quiz for Phase II 2021

Economic & Social Issues (ESI) Questions with the answer. RBI Grade B Economic & Social Issues (ESI) Notes PDF. RBI Grade B ESI Study Material PDF. RBI Economic & Social Issues (ESI) Books, PDF, Previous Papers, Question Set, and study material. As we all know that The Reserve Bank of India (RBI) conducted the RBI Grade B Phase I Exam for the post of Grade B (Grade ‘B’ (DR) – (General) & others). It’s the right time when you should start your RBI Grade B 2021 Phase II preparation with full pace.

If you are preparing for RBI Grade B 2021 ( Phase II), you will come across a section on “Economic & Social Issues (ESI)  wherein 65 questions will be there carrying 50 marks. Here we are providing you with “Economic & Social Issues (ESI) Questions For RBI Grade B” with answers based on the latest pattern of your daily practice.

“RBI Grade B” ESI Questions with Answer | Set-5


1. Which of the following statement(s) is/are correct regarding ‘Gini Coefficient’?

A. Gini coefficient is a way of comparing how distribution of income in a society compares with a similar society in which everyone earned exactly the same amount, thus it is an index to measure inequality.
B. Inequality on the Gini scale is measured between 0, where everybody is equal, and 1, where all the country’s income is earned by a single person.
C. The higher is the Gini Coefficient, more is gap between rich and poor in a country
D. India’s Gini coefficient stood at 0.352 in 2016 Human Development Report.
E. All the above

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Correct Answer: E. All the above

Explanation- If the Gini-coefficient of a country falls, it indicates that there is a decrease in the level of inequality in that country.

2. Which of the following resources are NOT Factors of Production?

A. Land
B. Entrepreneurship
C. Labour
D. Capital
E. Wages

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Correct Answer – E. Wages

Explanation- Wages is the Factor Income which is derived from the Factors of Production.
The factors of production are resources that are the building blocks of the economy; they are what people use to produce goods and services. Economists divide the factors of production into four categories: land, labor, capital, and entrepreneurship.

3. International Monetary Fund (IMF) has projected how much percent growth rate for India in 2021?
A. 9.5%
B. 11.5%
C. 10.5%
D. 12.5%
E. Red Box Subsidies

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Correct Answer – B. 11.5%

Explanation: International Monetary Fund has projected an 11.5 percent growth rate for India in 2021. With the latest projections, India has regained the tag of the fastest developing economies of the world. In 2020, the Indian economy is estimated to have contracted by 8%. In IMF’s latest World Economic Outlook Update, China is next with 8.1 percent growth in 2021 followed by Spain and France.

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4. Investment in public works is known as-
A. Revenue expenditure
B. Capital expenditure
C. Current expenditure
D. Either (a) or (b)
E. None of these

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Correct Answer – B. Capital expenditure

Explanation- Capital expenditure or capital expense (capex or CAPEX) is the money a company spends to buy, maintain, or improve its fixed assets, such as buildings, vehicles, equipment, or land. It is considered a capital expenditure when the asset is newly purchased or when money is used towards extending the useful life of an existing asset, such as repairing the roof.

5. NNP is equal to-

A. GNP + depreciation
B. GNP – depreciation
C. GNP + exports
D. GNP – exports
E. None of these

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Correct Answer: B. GNP – depreciation

Explanation- Net national product (NNP) is the monetary value of finished goods and services produced by a country’s citizens, overseas and domestically, in a given period (i.e., the gross national product (GNP) minus the amount of GNP required to purchase new goods to maintain existing stock (i.e., depreciation).
NNP = Gross National Product – Depreciation

6. Deficit financing implies-
A. Printing new currency notes
B. Public expenditure in excess of public revenue
C. Replacing new currency with worn out currency
D. Public revenue in excess of public expenditure
E. None of these

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Correct Answer: B. Public expenditure in excess of public revenue

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7. Shares issued by the companies to their shareholders free of cost by the capitalization of accumulated reserves from the profits earned in the earlier years is known as-

A. Preference shares
B. Rights shares (Issue)
C. Bonus shares
D. Cumulative preference shares
E. None of these

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Correct Answer – C. Bonus shares

8. India Infrastructure Finance Company Ltd (IIFCL) is a wholly-owned ____________ company set up in 2006.
A. NABARD
B. SEBI
C. RBI
D. Finance Ministry
E. Government of India

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Correct Answer – E. Government of India

Explanation- IIFCL is a wholly-owned Government of India company set up in 2006 to provide long-term finance to viable infrastructure projects through the Scheme for Financing Viable Infrastructure Projects through a Special Purpose Vehicle called India Infrastructure Finance Company Ltd (IIFCL), broadly referred to as SIFTI.

9. India has shifted to a new GDP series. The GDP was earlier calculated at __________and is now being calculated at
A. Factor Cost, Market Price
B. Market Price, Factor Cost
C. Basic Price, Factor cost
D. Basic Price, Market Price
E. Current Price, Constant Price

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Correct Answer – A. Factor Cost, Market Price

Explanation- Earlier, domestic GDP was calculated at factor cost, which took into account prices of products received by producers. The new formula takes into account market prices paid by consumers and thus the Consumer-end is given importance.

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10. The Human Development Report which is released by the UNDP, the United Nations global development network is headquartered in-
A. Washington DC, USA
B. Berlin, Germany
C. New York City, USA
D. Montreal, Canada
E. Rome, Italy

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Correct Answer – C. New York City, USA

Explanation- UNDP advocates for change and connects countries to knowledge, experience and resources to help people build a better life.
•It provides expert advice, training and grants support to developing countries, with increasing emphasis on assistance to the least developed countries.
•Currently, the UNDP is one of the main UN agencies involved in the development of the Post-2015 Development Agenda.

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