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50 Objective Questions and Answers on Indian Economics.

Questions related to Indian Economics are asked in various competitive examinations conducted by SSC, UPSC, PSC, LIC, GIC, Railways, IBPS, etc. The main objective of these questions is to test the candidate's knowledge in the subject - Economics.

Candidates who want to test their preparation in the topic - Indian Economics, we have provided below 50 Important Objective Questions and Answers on Indian Economics. These questions on economics have already been asked in various competitive examinations.

Model Test Paper-1

1 In which year Reserve Bank of India was nationalised?

2 The observation that 'Supply creates its own demand' is popularly called?

3 What was the main objective of Green Revolution in India ?

4 ____ is the ex-officio chairman of Planning Commission and National Development Council.

5 70% of working population of India is engaged in:

6 A closed economy is an economy in which:

7 A good method of providing employment to rural labor and utilizing it fully is through?

8 A hammer in the hands of a housewife is a _________ good.

9 A high rate of inflation tends to worsen balance of payments because:

10 A non-performing asset is

11 A rolling plan was a plan for:

12 A Scheduled Bank is one which is included in the:

13 A steady increase in the general level of prices as a result of excessive increase in aggregate demand as compared to aggregate supply is termed as :

14 A very rapid growth in prices in which money loses its value to the point where even barter may be preferable is known as:

15 Absolute Poverty means:

16 According to the law of demand, when Price?

17 Among the reasons for disguised unemployment in the rural areas is :

18 Among the remedies of inflation we cannot include:

19 Amongst the currency quotes USD/JPY, USD/Euro and USD/CAD, which one of the following is referred as the base currency for quotes?

20 An ad valorem duty is a tax on the basis of?

21 An economy is in equilibrium when

22 An essential attribute of inflation is:

23 An increase in the quantity supplied suggests?

24 As on 2013, Foreign Direct Investment(FDI) ceilings in the telecom sector is?

25 Bank rate is the rate at which:

26 Banks in India are required to maintain a portion of their demand and time liabilities with the Reserve Bank of India. This portion is called

27 Black money is :

28 Broad money in India is :

29 Capital output ratio of a commodity measures

30 Consequent upon the recommendations of the Working Group on Rural Banks, 5 Rural Regional Banks were initially set up in the year:

31 Consumer's surplus is the highest in the case of ?

32 Convertibility of the rupee implies:

33 Cyclical unemployment refers to:

34 Dadabhai Naoroji theorised on the drain of wealth from India in his book:

35 To prevent recurrence of scams in Indian Capital Market, the Government has assigned regulatory powers to:

36 Debenture holders of a company are its?

37 Deficit financing creates additional paper currency to fill the gap between expenditure and revenue. This device aims at economic development but if it fails, it generates :

38 Deficit financing implies?

39 Deficit financing leads to inflation in general, but it can be checked if?

40 Deficit Financing means that the government borrows money from the?

41 Demand in Economics means

42 Depreciation means?

43 Devaluation means:

44 Devaluation of currency by a country is meant to lead to : (1) expansion of import trade, (2) promotion of import substitution, (3) expansion of export trade.

45 Devaluation of currency leads to?

46 Development expenditure of the Central government does not include?

47 Disguised unemployment in India is mainly related to : (1) agricultural sector, (2) rural area, (3) factory sector, (4) urban area.

48 During which 5-year Plan did prices show a decline?

49 During which Five Year Plan was the total expenditure on agriculture the highest?

50 During which Plan period did agricultural production register a negative growth?