This quiz works best with JavaScript enabled. Home > Indian Economy > History > New Economic Policy Of 1991 – Quiz 3 🏠 Homepage 📘 Download PDF Books 📕 Premium PDF Books New Economic Policy Of 1991 Quiz 3 (20 MCQs) Quiz Instructions Select an option to see the correct answer instantly. 1. Which international organisation replaced general agreement on trade and tariff (GATT): A) International Monetary Fund. B) United Nations. C) World Trade Organisation. D) World Health Organisation. Show Answer Correct Answer: C) World Trade Organisation. 2. ..... refers to reduction in the value of domestic currency by the government A) Depreciation of rupee. B) Devaluation of rupee. C) Revaluation of rupee. D) Appreciation of rupee. Show Answer Correct Answer: B) Devaluation of rupee. 3. The policy of planned disinvestments of the public sector A) Liberalisation. B) Privatisation. C) Globalisation. D) None of above. Show Answer Correct Answer: B) Privatisation. 4. Structural reforms are also known as A) Infrastructural development. B) Supply side management. Show Answer Correct Answer: B) Supply side management. 5. Which Macroeconomic stabilization measures were taken in 1991? A) Control of inflation. B) Fiscal correction. C) Improvement in BOP. D) All of the above. Show Answer Correct Answer: D) All of the above. 6. Trade between two countries is known as: A) Bilateral trade. B) Multilateral trade. C) Both (a) and (b). D) Neither (a) not (b). Show Answer Correct Answer: A) Bilateral trade. 7. After Independence, India had adopted ..... A) Socialism. B) Capitalism. C) Mixed Economy. D) Communism. Show Answer Correct Answer: C) Mixed Economy. 8. Reduction of Import Duty is part of A) Liberalisation. B) Globalisation. C) Both. D) None of the above. Show Answer Correct Answer: C) Both. 9. Abolition of export duty is part of A) Globalisation. B) Privatisation. C) Both. D) None of the above. Show Answer Correct Answer: A) Globalisation. 10. Abolishing licensing requirement in most of the industries is example of A) Liberalisation. B) Privatisation. C) Globalisation. D) None of above. Show Answer Correct Answer: A) Liberalisation. 11. Find the odd word out:Liberalization dealt with the following- A) MRTP. B) FERA. C) SEBI. D) NTPC. Show Answer Correct Answer: D) NTPC. 12. ..... refers to contracting out some of its activities to a third party which were earlier performed by the organisation A) Outsourcing. B) Globalisation. C) Privatisation. D) Liberalisation. Show Answer Correct Answer: A) Outsourcing. 13. INDIA ASKED FOR A LOAN OF ..... FROM IMF IN 1991 A) $ 10 BILLION. B) $ 7 BILLION. C) $ 200 MILLION. D) NONE. Show Answer Correct Answer: B) $ 7 BILLION. 14. The policy encourage foreignprivate participation in industrial development A) Liberalisation. B) Privatisation. C) Globalisation. D) None of above. Show Answer Correct Answer: C) Globalisation. 15. Relaxation or removal of strict rules and regulation is part of A) Liberalisation. B) Privatisation. C) Globalisation. D) All of the above. Show Answer Correct Answer: A) Liberalisation. 16. Which of the following economic reforms we're initiated by the government under liberalisation? A) Industrial sector reforms. B) Financial sector reforms. C) Tax reforms. D) All of these. Show Answer Correct Answer: D) All of these. 17. Components of New Economic Policy ( NEP) A) Liberalization. B) Privatization. C) Globalization. D) All of the above. Show Answer Correct Answer: D) All of the above. 18. Which one is not the features of privatisation A) Export promotion. B) Loss of budgetary support to public sectors. C) Transfer of ownership to the private sector. D) Revival of sick units. Show Answer Correct Answer: A) Export promotion. 19. Which of the following was the reason for initiation of economic reforms in 1991? A) Increase in fiscal deficit. B) (b) BoP crises. C) Fall in foreign exchange reserve. D) All of these. Show Answer Correct Answer: D) All of these. 20. Industrial sectors reforms are A) Abolition of industrial licensing. B) Reduced the role of public sector. C) Removal of MRTP limit. D) All of the above. Show Answer Correct Answer: D) All of the above. ← PreviousNext →Related QuizzesIndian Economy QuizzesNew Economic Policy Of 1991 Quiz 1New Economic Policy Of 1991 Quiz 2New Economic Policy Of 1991 Quiz 4Indian Economy 1950 1990 QuizIndian Economy On The Eve Of Independence Quiz 🏠 Back to Homepage 📘 Download PDF Books 📕 Premium PDF Books