Answer: Option A. -> RBI
Answer: (a)The Reserve Bank of India formulates Monetary Policy in India.

Answer: Option A. -> 1 and 2 both
Answer: (a)Real Gross Domestic Product (real GDP) is a macroeconomic measure of the value of economic output adjusted for price changes (i.e. inflation or deflation). Nominal gross domestic product is defined as the market value of all final goods produced in a geographical region.

Answer: Option A. -> the co-existence of public as well as private sector
Answer: (a)Mixed economy is an economic system in which both the state and private sector direct the economy, reflecting characteristics of both market economies and planned economies.

Answer: Option A. -> Licensing
Answer: (a)
Licensing is a marketing and brand extension tool that is widely used by everyone from major corporations to the smallest of small businesses.
A license may be issued by authorities, to allow an activity that would otherwise be forbidden.

Answer: Option D. -> Income
Answer: (d)
Direct tax is a type of tax where the incidence and impact of taxation fall on the same entity.
In general, it is a tax imposed on income as distinct from a tax imposed upon a transaction. These are largely taxes on income or wealth. Income tax, corporation tax, property tax, inheritance tax and gift tax are examples of direct tax.

Answer: Option C. -> Petroleum products
Answer: (c)
As per the Economic Survey 2011-12, Petroleum, oil and lubricants (POL) imports constituted 31.4 per cent of total imports in the first half of 2011-12 due to high prices of crude oil.
Food and allied products comprised 3.1 per cent share;
Fertilizers: 1.7 per cent;
Capital Goods: 11.6 per cent;
Chemicals: 5.1 per cent;
Pearls, Precious Stones: 6.0 per cent;
Gold & Silver: 13.3 per cent; and
Electronic goods comprised a 7.2 per cent share of the total imports.

Answer: Option D. -> Investment Method
Answer: (d)
The investment method is not a method of measurement of National Income.
There are three methods of measurement; income method, product or value-added method and the expenditure method. In the initial phase, the production of goods and services takes place.
During the course of production, payment is made to all factors of production like wages to labour etc. Once the production completes the output is distributed for different uses like consumption etc.

Answer: Option B. -> MICR
Answer: (b)
Magnetic Ink Character Recognition, or MICR, is a character-recognition technology used primarily by the banking industry to facilitate the processing of cheques and makes up the routing number and account number at the bottom of a cheque.
The technology allows computers to read the information (such as account numbers) off printed documents. Unlike barcodes or similar technologies, however, MICR codes can be easily read by humans.
MICR characters are printed in special typefaces with magnetic ink or toner, usually containing iron oxide.

Answer: Option C. -> Ministry of Finance
Answer: (c)
The Reserve Bank of India has the responsibility of maintaining fixed exchange rates with all other member countries of the International Monetary Fund.
Besides maintaining the rate of exchange of the rupee, the Reserve Bank has to act as the custodian of India’s reserve of international currencies. It operates the exchange control system.

Answer: Option C. -> Trading in securities
Answer: (c)OMOs are the market operations conducted by the Reserve Bank of India by way of sale/ purchase of Government securities to/ from the market with an objective to adjust the rupee liquidity conditions in the market on a durable basis.