Indian Economy MCQ Set-20

Indian Economy MCQ Set-20

Q.1 Which of the following is the biggest contributor of foreign exchange reserve of India?

A. Special Drawing Power

B. Gold Reserve

C. Foreign Currency Assets

D. Gold

Answer: C. Foreign Currency Assets

Q.2 Human Development Index is published by:

A. UNDP

B. WTO

C. WHO

D. IMF

Answer: A. UNDP

Note: UNDP- United Nations Development Programme

Q.3 Economic planning of India is included in:

A. Concurrent List

B. Reserve List

C. Union List

D. State List

Answer: A. Concurrent List

Q.4 In India, corporation tax is imposed by:

A. Union Govt

B. State Govt.

C. Both state and union govt

D. Municipalities

Answer: A. Union Govt.

Q.5 “ECOMARK” symbol is related to:

A. Goods safe for the environment

B. Goods safe for the forest

C. Goods produced in forest

D. None of these

Answer: A. Goods safe for the environment

Q.6 Which sector has the maximum weights in the Industrial Production Index (IIP) in India?

A. Manufacturing

B. Power

C. Mining

D. None of these

Answer: A. Manufacturing

Q.7 Who among the following introduced five-year plan in India?

A. Indira Gandhi

B. Narendra Modi

C. Jawaharlal Nehru

D. MK Gandhi

Answer: C. Jawaharlal Nehru

Q.8 The Rural Infrastructure Development Fund (RIDF) is being operationalized by:

A. NABARD

B. RBI

C. Regional Rural Banks

D. None of these

Answer: A. NABARD

Q.9 PM-Kisan yojana was launched in the year?

A. 2014

B. 1999

C. 2018

D. 2020

Answer: C. 2018

Note: The PM- Kisan scheme came into effect from 1st December, 2018.

Q.10 PM-SBY is a:

A. Crop insurance scheme

B. Accident insurance scheme

C. Industrial insurance scheme

D. None of these

Answer: B. Accident insurance scheme

Note: Pradhan Mantri Suraksha Bima Yojana is a government-backed accident insurance scheme in India launched on 8th May, 2015

Indian Economy MCQ Set-19

Indian Economy MCQ Set-19

Q.1 The largest canal irrigated state of India is:

A. Punjab

B. Rajasthan

C. Haryana

D. Andhra Pradesh

Answer: B. Rajasthan

Q.2 The largest tank irrigated state of India is:

A. Punjab

B. Haryana

C. Andhra Pradesh

D. Assam

Answer: C. Andhra Pradesh

Q.3 The first agricultural census of India was carried out in:

A. 1949-1950

B. 1956-1957

C. 1970-1971

D. 2014-2015

Answer: C. 1970-1971

Q.4 The primary source of irrigation in India is:

A. Canal

B. Tank

C. Tubewells

D. River

Answer: C. Tubewells

Q.5 Who among the following is considered as the father of Indian Space Programme?

A. Vikram Sarabhai

B. APJ Abdul Kalam

C. Homi Jehangir Bhaba

D. None of these

Answer: A. Vikram Sarabhai

Q.6 Who among the following is considered as the father of Indian Nuclear Programme?

A. Homi Jehangir Bhaba

B. Raja Rammana

C. Sekhar Basu

D. Ravi Grover

Answer: A. Homi Jehangir Bhaba

Q.7 Who among the following is considered as the father of Indian archeology?

A. Alexander Cunningham

B. R.D. Banerji

C. Vibha Tripathi

D. B.B. Lal

Answer: A. Alexander Cunningham

Q.8 Who among the following is considered as the father of Indian sociology?

A. Govind Sadashiv Ghurye

B. M.N. Srinivas

C. Ashis Nandy

D. D.P. Mukerji

Answer: A. Govind Sadashiv Ghurye

Q.9 Who among the following is considered as the father of modern Indian statistics?

A. Prasanta Chandra Mahalanobis

B. Raj Chandra Bose

C. Jayanta Kumar Ghose

D. Debabrata Basu

Answer: A. Prasanta Chandra Mahalanobis

Q.10 Who among the following is considered as the father of Indian Economic Reforms?

A. Manmohan Singh

B. P.V. Narasimha Rao

C. Amartya Sen

D. Subramaniam Swamy

Answer: B. P.V. Narasimha Rao

Indian Economy MCQ Set-18

Indian Economy MCQ Set-18

Q.1 Which of the following is the first state in India to establish a Special Agriculture Zone (SAZ)?

A. Punjab

B. Gujarat

C. Uttarakhand

D. Haryana

Answer: C. Uttarakhand

Note: Uttarakhand was the first state to set up Special Agricultural Zones (SAZs) in 2011.

Q.2 Which institution floated rupee bond for the first time in the international market?

A. RBI

B. IMF

C. International Finance Institution

D. WTO

Answer: C. International Finance Institution

Note: IFC, a member of the World Bank Group, has issued seven-year bonds worth $194 mn indicating increased global interest in rupee debt.

Q.3 When did India become a permanent member of Washington Accord?

A. 1951

B. 1991

C. 2014

D. 2016

Answer: C. 2014

Note: The Washington Accord is an international accreditation agreement for undergraduate professional engineering academic degrees between the bodies responsible for accreditation in its signatory countries and regions.

Q.4 Who among the following is known as mother of broiler poultry farming?

A. Wilmer Steele

B. William Jones

C. Jonathon Steve

D. None of these

Answer: A. Wilmer Steele

Q.5 If the interest rate is decreased in an economy, it will

A. Increase the investment expenditure in the economy.

B. Increase the tax collection of the Government

C. Decrease the consumption expenditure in the economy.

D. Increase the total savings in the economy

Answer: A. Increase the investment expenditure in the economy.

Q.6 A “closed economy” is an economy in which

A. The money supply is fully controlled

B. Only exports take place

C. Neither exports nor imports take place

D. Deficit financing takes place

Answer: C. Neither exports nor imports take place

Q.7 Which of the following brings out the ‘Consumer Price Index Number for Industrial Workers’?

A. RBI

B. Department of Economic Affairs

C. The Labour Bureau

D. SEBI

Answer: C. The Labour Bureau

Q.8 The devaluation of currency is done by a government in order to:

A. Increase export

B. Decrease import

C. Increase PPP

D. Both A & B

Answer: D. Both A & B

Q.9 What kind of unemployment is found in the agricultural sector of India?

A. Situational

B. Disguise

C. Voluntary

D. None of these

Answer: B. Disguise

Q.10 Which of the following is the top fruit producing state of India?

A. Himachal Pradesh

B. Uttarakhand

C. Maharashtra

D. West Bengal

Answer: C. Maharashtra

Indian Economy MCQ Set-17

Indian Economy MCQ Set-17

Q.1 Macroeconomics distinguishes between real economy and the__________?

A. Normative economy

B. Microeconomy

C. Monetary Economy

D. None of these

Answer: C. Monetary Economy

Q.2 Macroeconomy deals with whole or aggregate economy in terms of:

A. Structure

B. Behavior

C. Performance

D. Decision Making

Answer: All options mentioned above

Q.3 In order to influence spending on goods and services in the short-run, monetary policy is directed at directly influencing_________________.

A. Economic growth rate

B. Interest rates

C. Fiscal policy

D. None of these

Answer: B. Interest rate

Note: Interest rate influence household’s decision of spending. Hence they effect good & services spending.

Q.4 Economics that passes judgment, or provides advice on policy actions is called?

A. Positive economics

B. Negative economics

C. Normative economics

D. None of these

Answer: C. Normative economics

Q.5 An important indicator of a nation’s well-being is?

A. PPP

B. GNP

C. GDP

D. None of these

Answer: C. GDP

Q.6 Real GDP is a measure of a country’s?

A. Wealth

B. Money

C. Economic Transactions

D. Physical output

Answer: D. Physical output

Q.7 Which of the following is NOT an example of a transfer payment in the sense of the national income accounts?

A. Government family allowances

B. Public unemployment insurance benefits

C. Dividends paid by corporations to stockholders

D. Disability pensions paid from the social insurance system

Answer: C. Dividends paid by corporations to stockholders

Q.8 Which of the following is NOT a leakage from the circular flow of income and expenditure?

A. Government purchases

B. Imports

C. Saving

D. Taxes net of government transfers

Answer: A. Government purchases

Q.9 What of the following does NOT enter GDP?

A. Public Service

B. Public Education

C. National defense

D. Life expectancy

Answer: D. Life expectancy

Q.10 The difference between real and nominal GDP is:

A. Nominal GDP only accounts for citizens

B. Real GDP also includes services, whereas nominal GDP only takes goods into account.

C. Nominal GDP uses actual price-levels.

D. Nominal GDP uses price-levels of some base year

Answer: C. Nominal GDP uses actual price-levels.

Indian Economy MCQ Set-16

Indian Economy MCQ Set-16

Q.1 Microeconomy studies behavior of a/an _________________ unit.

A. Individual economic

B. Multilateral economic

C. Both A & B

D. None of these

Answer: A. Individual economic

Q.2 “Rich people should be taxed more” is an example of _____________ economic analysis.

A. Positive

B. Normative

C. Productive

D. None of these

Answer: B. Normative

Note: Normative economics is a part of economics whose objective is fairness or what the outcome of the economy or goals of public policy ought to be.

Q.3 Which Economist divided Economics in two branches of micro and macro on the basis of economic activity?

A. Ragnar Frisch

B. Marshall

C. Ricadro

D. None of these

Answer: A. Ragnar Frisch

Q.4 Which of the following is/are studied under microeconomics?

A. Individual

B. Household

C. Firms

D. All of the above

Answer: D. All of the above

Note: Microeconomics is the study of individuals, households and firms’ behavior in decision making and allocation of resources.

Q.5 Which of the following statements is/are true?

A. Human needs are infinite

B. Resources are limited

C. Scarcity problem gives birth to choice

D. All of the above

Answer: D. All of the above

Q.6 The primary objective of socialist economy is:

A. Maximum production

B. Minimum Governance in economy

C. Maximum Governance in economy

D. Maximum public welfare

Answer: D. Maximum public welfare

Q.7 In which economy, decisions are taken on the basis of price mechanism?

A. Socialist

B. Capitalist

C. Mixed

D. None of these

Answer: B. Capitalist

Q.8 Which of the following is/are branch of microeconomics

A. Product price determination

B. Factor price determination

C. Economic welfare

D. All of these

Answer: D. All of these

Q.9 Which of the following are the primary concept of microeconomics?

A. Elasticity of demand

B. Marginal utility and demand

C. Elasticity of supply

D. All of these

Answer: D. All of these

Q.10 Consumer behavior is studied in:

A. Microeconomy

B. Macroeconomy

C. Income theory

D. None of these

Answer: A. Microeconomy