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Online Economics Quiz Set No - 1

Economics Questions have been taken from previous years question papers of different competitive examinations such SSC CGL, SSC CHSL, CDS, NDA, Bank, State PSC, Railways, MAT, CAT, etc.

1) In which year Reserve Bank of India was nationalised?
A) 1935
B) 1942
C) 1949
D) 1952

2) The observation that 'Supply creates its own demand' is popularly called?
A) Say's Law
B) Greham's Law
C) Murphy's Law
D) Newton's Law

3) What was the main objective of Green Revolution in India ?
A) To increase the extent of cash crop cultivation
B) To increase the area of green forests under social forestry scheme
C) Modernisation of agriculture through science and technology
D) To introduce the Japanese method of paddy cultivation

4) ____ is the ex-officio chairman of Planning Commission and National Development Council.
A) Prime Minister
B) President
C) Finance Minister
D) Commerce Minister

5) 70% of working population of India is engaged in:
A) public sector
B) primary sector
C) secondary sector
D) tertiary sector

6) A closed economy is an economy in which:
A) the money supply is fully controlled
B) deficit financing takes place
C) only exports take place
D) neither exports nor imports take place

7) A good method of providing employment to rural labor and utilizing it fully is through?
A) Rural industries
B) Agriculture
C) Public works programmes
D) Cattle rearing

8) A hammer in the hands of a housewife is a _________ good.
A) capital
B) free
C) intermediary
D) consumer

9) A high rate of inflation tends to worsen balance of payments because:
A) prices of imported goods rise
B) prices of exported goods rise making exports less competitive
C) prices of imported goods fall and hence more is imported
D) prices of exported goods fall and hence less amount is obtained in terms of foreign exchange

10) A non-performing asset is
A) Money at call and short notice
B) Cash balance with the bank
C) Cash balance with the RBI
D) An asset that ceases to generate income