Comprehension

Read the passage and answer the following question:
Globalization involves a stretching of social and economic relationships throughout the world. This becomes possible through the introduction of certain policies. This process is broadly known as liberalisation in India. Liberalisation technically involves steady removal of rules that regulated trade and finance regulations. Once these are done, it constitutes economic reforms. Besides these liberalisation as a process also involves taking loans from international institutions such as International Monetary Fund (IMF). It is important to mention that certain conditions are imposed before loans are sanctioned to a country, which there by leads to introduction of new economic measures. These conditions constitutes the Structural Adjustments. These adjustments usually mean cuts in state expenditure on social sector.

Question: 1

Globalization involves:

Updated On: Mar 29, 2024
  • Opening of Borders for market
  • Decreasing social relations globally
  • Shrinking of Borders
  • Increasing the government control on market
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The Correct Option is A

Solution and Explanation

The correct option is (A): Opening of Borders for market.
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Question: 2

Structural Adjustments leads to:

Updated On: Mar 29, 2024
  • State expenditure rise in Health Sector
  • State expenditure cut in Health Sector
  • No change in state expenditure in Health Sector
  • State expenditure rise in Education Sector
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The Correct Option is B

Solution and Explanation

The correct option is (B): State expenditure cut in Health Sector.
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Question: 3

Economic reforms include:

Updated On: Mar 29, 2024
  • Regulation of trade only
  • Regulation of finance only
  • Regulation of trade and finance
  • No regulation either for finance or trade
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The Correct Option is C

Solution and Explanation

The correct option is (C): Regulation of trade and finance.
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Question: 4

Which of the following does not happen under Structural Adjustment?

Updated On: Mar 29, 2024
  • Introduction of certain policies
  • Economic reforms
  • Taking loans from IMF
  • Increasing state expenditure in Social Sector
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The Correct Option is D

Solution and Explanation

The correct option is (D): Increasing state expenditure in Social Sector.
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Question: 5

Liberalization was introduced in India in:

Updated On: Mar 29, 2024
  • 1960
  • 1970
  • 1980
  • 1990
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The Correct Option is D

Solution and Explanation

The correct option is (D): 1990.
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