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- Question
Consider the following statements with respect to Bitcoins or 'cryptocurrencies' as they are commonly known; I. Bitcoin is a decentralized electronic payment system II. Only a finite number of bitcoins can be created by miners III. Bitcoins are indivisible units of currency IV. Every single bitcoin transaction is recorded in a ledger called the blockchain. Which of the above statements are correct?
Options- A. (i), (ii) and (iii)
- B. (i), (iii) and (iv)
- C. (i), (ii) and (iv)
- D. (i), (ii), (iii) and (iv)
- Correct Answer
- (i), (ii) and (iv)
ExplanationA software developer called Satoshi Nakamoto proposed bitcoin, which was an electronic payment system based on mathematical proof. The idea was to produce a currency independent of any central authority, transferable electronically, more or less instantly, with very low transaction fees. Bitcoin?s most important characteristic, and the thing that makes it different to conventional money, is that it is decentralized. Bitcoin is created digitally, by a community of people that anyone canjoin. Bitcoins are ?mined?, using computing power in a distributed network.This network also processes transactions made with the virtual currency, effectively making bitcoin its own payment network.The bitcoin protocol ?the rules that make bitcoin work ?say that only 21 million bitcoins can ever be created by miners. However, these coins can be divided into smaller parts (the smallest divisible amount is one hundred millionth of a bitcoin and is called a ?Satoshi?, after the founder of bitcoin). Bitcoin stores details of every single transaction that ever happened in the network in a huge version of a general ledger, called the blockchain.
- 1. What is the slowdown in the rate of increase of prices of goods & services in National GDP over time called?
Options- A. Deflation
- B. Disinflation
- C. Inflation
- D. Reflation Discuss
- 2. If Reserve Bank of India reduces the cash reserve ratio, it will :
Options- A. increase credit creation
- B. decrease credit creation
- C. have no impact on credit creation
- D. have no definite impact on credit creation Discuss
- 3. In a cut motion, when the amount of demand is reduced by Rs 100/ , it is known as
Options- A. Disapproval of policy cut
- B. Economy cut
- C. Vote on Account
- D. Token cut Discuss
- 4. According to the report by the Commerce Ministry ?Logistics Ease Across Different States (LEADS)?, which of the following state has topped the Logistic Index Chart?
Options- A. Maharashtra
- B. Andhra Pradesh
- C. Gujarat
- D. Karnataka Discuss
- 5. For each perfectly competitive firm in the long run
Options- A. price = marginal costs = average variable costs
- B. price = average profit
- C. price = marginal costs = minimum average total costs
- D. price = minimum average variable costs Discuss
- 6. Inflation is a situation characterised by
Options- A. Too much money chasing too few goods
- B. Too few money chasing too much goods
- C. Too many people chasing too few goods
- D. Too many people chasing too little money Discuss
- 7. One of the following is 'Labour' in Economics.
Options- A. A Musician performing for a benefit fund
- B. A Painter working for his own pleasure
- C. Reading a book as a hobby
- D. A Mother teaching her own son Discuss
- 8. Open Market Operations refer to __________
Options- A. Borrowings by Scheduled banks from RBI
- B. Lending by Commercial banks to industry
- C. Purchase and sale of Government securities by RBI
- D. Deposit mobilisation Discuss
- 9. Which of the following Article of Indian Constitution deals with the Right to Equality before Law?
Options- A. Article 13
- B. Article 14
- C. Article 15
- D. Article 17 Discuss
- 10. Sudden decrease of birth rate would cause___________.
Options- A. increase in per capita income
- B. increase in investment
- C. increase in savings
- D. increase in loan requests Discuss
Indian Economy problems
Search Results
Correct Answer: Disinflation
Explanation:
In the rate ofinflation, disinflation is a decrease ?in a nation'sgross domestic productover time, a slowdown in the rate of increase of the generalprice levelof goods and services. It is the opposite ofreflation. When the increase in the ?consumer price level? it occurs disinflation and slows down from the previous period when the prices were rising.
Correct Answer: increase credit creation
Correct Answer: Token cut
Correct Answer: Gujarat
Explanation:
According to the report by the Commerce Ministry ?Logistics Ease Across Different States (LEADS)?, Gujarat has topped the Logistic Index Chart, an indicator of the efficiency of logistics services necessary for promoting exports in particular, and economic growth in general. Gujarat is followed by Punjab, Andhra Pradesh, Karnataka and Maharashtra on the index.
Correct Answer: price = marginal costs = minimum average total costs
Correct Answer: Too much money chasing too few goods
Correct Answer: A Musician performing for a benefit fund
Correct Answer: Purchase and sale of Government securities by RBI
Correct Answer: Article 14
Correct Answer: increase in per capita income
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