The immediate cause of the 1991 economic crisis in India was: MCQ with Answer and Explanation

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The immediate cause of the 1991 economic crisis in India was:

A. a balance of payments crisis

B. industrial stagnation

C. a severe drought

D. fall in agricultural production

Answer: Option A

Solution (By JKSSB Mock Tests)

The 1991 economic crisis was triggered by a severe balance of payments crisis.

This question belongs to: Economy GK Economy Set 1

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Practice More Economy Set 1 Questions

Question #1

Personal Disposable Income is obtained by subtracting from personal income:

A. corporate tax

B. customs duty

C. direct personal taxes

D. indirect taxes

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Correct Answer: Option C

Explanation:
Personal disposable income is personal income minus direct personal taxes and other non-tax payments.

This question belongs to: Economy GK Economy Set 1

Question #2

If the reserve ratio is 10%, the simple deposit/money multiplier is:

A. 5

B. 10

C. 20

D. 100

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Correct Answer: Option B

Explanation:
Money multiplier = 1/reserve ratio = 1/0.10 = 10.

This question belongs to: Economy GK Economy Set 1

Question #3

NSDL and CDSL are depositories for:

A. dematerialized securities

B. foreign exchange reserves

C. government cash balances

D. bank deposits

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Correct Answer: Option A

Explanation:
NSDL and CDSL are the two depositories that hold securities in dematerialized form.

This question belongs to: Economy GK Economy Set 1

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