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    Home»GK Questions»Indian Economy Questions And Answers
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    Indian Economy Questions And Answers

    GK DUNIABy GK DUNIAJune 15, 2022Updated:July 13, 2022No Comments9 Mins Read
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    1. Recently, Stock market regulator SEBI has imposed trade restrictions on 331 firms which are suspected of being “shell companies”. Which of the following is NOT an activity generally carried out using shell companies?

      [A] Trade and normal business
      [B] Financial manoevour for some unstated objectives
      [C] Illegal financial activities
      [D] Violation of intellectual rights and properties

      Show Answer

      A.Trade and normal business

    2. Which among the following is the largest foodgrain producing state of India?

      [A] Uttar Pradesh
      [B] Punjab
      [C] Madhya Pradesh
      [D] Rajasthan

      Show Answer

      A.Uttar Pradesh

    3. In the abbreviation APEDA, what does P stand for ?

      [A] Pisciculture
      [B] Products
      [C] Processed Food Products
      [D] Promotion

      Show Answer

      C.Processed Food Products

    4. Which year is known for BOP crisis in Indian Economy?

      [A] 1990
      [B] 1991
      [C] 1995
      [D] 1999

      Show Answer

      B.1991

    5. A Bank included in the second schedule of RBI is called as _________?

      [A] Scheduled Bank
      [B] Commercial Bank
      [C] National Bank
      [D] Regional Rural Bank

      Show Answer

      A.Scheduled Bank

    6. If a commodity has more number of substitutes, the demand for this commodity will be _______?

      [A] more elastic
      [B] less elastic
      [C] inelastic
      [D] perfectly elastic

      Show Answer

      A.more elastic

    7. Which among the following are two maximum revenue yielding groups of Indirect taxes in India?

      [A] Custom and General Sales Tax
      [B] Union Excise Duties and General Sales tax
      [C] Union Excise Duties and Customs
      [D] Union Excise duties and state Excise duties

      Show Answer

      B.Union Excise Duties and General Sales tax

    8. In India, the Foreign Exchange Reserves are kept in the custody of which among the following?

      [A] Ministry of Finance
      [B] EXIM bank
      [C] Reserve Bank of India
      [D] Selected Public Sector Banks

      Show Answer

      C.Reserve Bank of India

    9. Inflation Indexed Bonds is pegged to ___?

      [A] WPI
      [B] CPI
      [C] Both WPI and CPI
      [D] None of the above

      Show Answer

      A.WPI

    10. Which among the following is a correct definition of the “Inflationary gap”?

      [A] The difference between total spending at full employment level and total spending above that level.
      [B] The difference between the price of a product at a time and price of that product at some different time
      [C] Difference between the national expenditure and total expenditure
      [D] Difference between Estimated fiscal deficit and actual fiscal deficit

      Show Answer

      A.The difference between total spending at full employment level and total spending above that level.

    11. Who among the following introduced the New Economic Policy?

      [A] Lenin
      [B] Stalin
      [C] Kerensky
      [D] Khrushchev

      Show Answer

      A. Lenin

    12. Who among the following was not the Governor of Reserve Bank of India (RBI)?

      [A] Manmohan Singh
      [B] Sunil Arora
      [C] Urjit Patel
      [D] Raghuram Rajan

      Show Answer

      B. Sunil Arora

    13. What is the biggest investment of industry in the Indian economy?

      [A] Tea
      [B] Cement
      [C] Steel
      [D] Jute

      Show Answer

      C. Steel

    14. Who directed the Ganga Action Plan?

      [A] Rajiv Gandhi
      [B] Atal Bihari Vajpayee
      [C] Manmohan Singh
      [D] Indira Gandhi

      Show Answer

      A. Rajiv Gandhi

    15. Who represents the savings of the private corporate sector?

      [A] Dividends paid to shareholders
      [B] Total profits of a company
      [C] Undistributed profits
      [D] Excess of income over expenditure

      Show Answer

      C. Undistributed profits

    16. If the supply curve is a straight line passing through the origin, what will be the price elasticity of supply?

      [A] less than unity
      [B] infinitely large
      [C] greater than unity
      [D] equal to unity

      Show Answer

      D. equal to unity

    17. Which of the following is called the minimum payment to the factor of production?

      [A] Quasi Rent
      [B] Rent
      [C] Wages
      [D] Transfer Payment

      Show Answer

      D. Transfer Payment

    18. What is the FDI allowed by India in the helicopter service?

      [A] 75%
      [B] 49%
      [C] 51%
      [D] 100%

      Show Answer

      D.100%

    19. Which among the following is complementary good?

      [A] Petrol and Car
      [B] Iphone and Android Phone
      [C] Milk and Sweet
      [D] Shoes and Sandals

      Show Answer

      A. Petrol and Car

    20. What was the route of the first flight service under UDAN scheme?

      [A] Varanasi – Chitrakoot
      [B] Guwahati – Tezu
      [C] Shimla – Delhi
      [D] Hisar – Dehradun

      Show Answer

      C. Shimla – Delhi

    21. What is the cumulative growth rate experienced by the Media and Entertainment sector in the last 5 years?

      [A] 9.3%
      [B] 2.4%
      [C] 8.4%
      [D] 11.8%

      Show Answer

      D. 11.8%

    22. What is the maximum time of maturity for a T bill?

      [A] 1 year
      [B] 6 months
      [C] 14 days
      [D] 3 months

      Show Answer

      A. 1 year

    23. What is Bank Rate?

      [A] Rate at which RBI lends to people
      [B] Rate at which bank lends to people
      [C] Rate at which RBI lends to banks
      [D] Rate at which RBI lends to Financial Institutions

      Show Answer

      C. Rate at which RBI lends to banks

    24. What is a State development loans(SDL)?

      [A] Loans given by World bank for state development
      [B] Money raised by states by issuing short term loans
      [C] Loan given by central government to state government
      [D] Money raised by states by issuing long term bonds

      Show Answer

      D. Money raised by states by issuing long term bonds

    25. Who protects the investors in a stock market?

      [A] SEBI
      [B] RBI
      [C] Government of India
      [D] Ministry of Finance

      Show Answer

      A. SEBI

    26. Which is the largest university in the world?

      [A] Indira Gandhi National Open University
      [B] Universitas Terbuka
      [C] University of Bombay
      [D] Tribhuvan University:

      Show Answer

      A. Indira Gandhi National Open University

    27. When was the first time paper currency was started in India?

      [A] 1871
      [B] 1861
      [C] 1901
      [D] 1931

      Show Answer

      B. 1861

    28. In which year Export Credit Guarantee Corporation of India was established?

      [A] 1957
      [B] 1988
      [C] 1961
      [D] 1939

      Show Answer

      A. 1957

    29. Who among the following regulates Agriculture Insurance Company of India?

      [A] NABARD
      [B] RBI
      [C] Ministry of Agriculture
      [D] Ministry of Finance

      Show Answer

      D. Ministry of Finance

    30. Which is the starting point for the North-South dedicated freight corridor?

      [A] Kanpur
      [B] Vijayawda
      [C] Chennai
      [D] Mamallapuram

      Show Answer

      B. Vijayawda

    31. When did India become a permanent member of the Washington Accord?

      [A] 2015
      [B] 2018
      [C] 2014
      [D] 2010

      Show Answer

      C. 2014

    32. What is the market value of Retail Industry of India?

      [A] US 950billion

      [B] US 850 billion

      [C] US 700billion

      [D] US 600 billion

      Show Answer

      A. US 950billion

    33. What is the frequency with which the Annual Survey of Industries (ASI) is released?

      [A] Monthly
      [B] Yearly
      [C] Weekly
      [D] None of the above

      Show Answer

      B. Yearly

    34. What is the export target of mobile handsets by 2025 according to the National Electronic Manufacturing policy 2019?

      [A] 200 million
      [B] 600 million
      [C] 900 million
      [D] 500 million

      Show Answer

      B. 600 million

    35. According to the seventh schedule of Indian constitution, Agriculture is in which list?

      [A] Union list
      [B] State list
      [C] Concurrent list
      [D] Others

      Show Answer

      B. State list

    36. Which among the following is an urban agricultural practice?

      [A] Mixed agriculture
      [B] Tactical Gardens
      [C] Rooftop Gardens
      [D] Aquaponics

      Show Answer

      A. Mixed agriculture

    37. What is iCRAFPT?

      [A] Forum promoting food exports
      [B] Forum promoting food processing industry
      [C] Forum on healthy food
      [D] Forum on Recent Advances in Food Processing Technology

      Show Answer

      D. Forum on Recent Advances in Food Processing Technology
    38. What is the contribution of food processing industry to Indian exports?

      [A] 10%
      [B] 13%
      [C] 22%
      [D] 31%

      Show Answer

      B. 13%

    39. Which is the largest freshwater shrimp producing state?

      [A] West Bengal
      [B] Andhra Pradesh
      [C] Assam
      [D] Tamil Nadu

      Show Answer

      B. Andhra Pradesh

    40. What is E-Pashuhaat portal?

      [A] Register livestcok
      [B] Find Sellers and Buyers of Liverstock
      [C] Connect Breeders and Farmers
      [D] Export Livestock

      Show Answer

      C .Connect Breeders and Farmers

    41. Labour force participation rate reflects__:

      [A] The persons who express their willingness to work
      [B] The persons who are employed
      [C] The persons who are capable to work but not willing to workÂ
      [D] None of them

      Show Answer

      A .The persons who express their willingness to work

    42. “Liquid funds” are a safe option for investors from the point of view of volatility and risk of losing capital. Which of the following statements is/are correct with respect to liquid funds?

      1. Liquid funds are money market instruments.
      2. Liquid funds are equity funds.
      3. Liquid funds are regulated by SEBI.

      Select the correct code from options given below:

      [A] Only 1
      [B] Only 1 & 2
      [C] Only 2 & 3
      [D] 1, 2 & 3

      Show Answer

      A .Only 1

    43. Which among the following is / are components of Internal Debt?

      1. Market Borrowings
      2. Treasury Bills
      3. Special securities issued to RBI

      Select the correct option from the codes given below:

      [A] Only 1 & 2
      [B] Only 2 & 3
      [C] Only 1 & 3
      [D] 1, 2 & 3

      Show Answer

      D .1, 2 & 3

    44. Which among the following denotes the Market Capitalization of a company?

      [A] Current market value of its authorized capital
      [B] Current market value of its issued shares
      [C] Current market value of its paid-up capital
      [D] Current market value of issued shares and debentures

      Show Answer

      B .Current market value of its issued shares

    45. The basic WTO principle with reference to trade barriers is that:

      [A] Trade barriers can be imposed by any country that believes it will benefit from such trade barriers
      [B] Trade Barriers should be lowered equally and without discrimination for all member countries
      [C] Trade Barriers can be imposed if a majority of the members of the WTO agree
      [D] Trade Barriers should be the same in all member countries so that the result is equivalent to free trade

      Show Answer

      B .Trade Barriers should be lowered equally and without discrimination for all member countries

    46. Measuring of core inflation rate, excludes commodities like:

      1. Food
      2. Crude Oil
      3. Precious metals
      4. Livestock and meat

      Select the correct option from codes given below:

      [A] 1 & 2 Only
      [B] 1, 2 & 3 Only
      [C] 3 & 4 Only
      [D] 1, 2 & 4 Only

      Show Answer

      A . 1 & 2 Only

    47. The payment and settlement system in India is managed by_?

      [A] SEBI
      [B] RBI
      [C] National Payments Corporation of India
      [D] Ministry of Finance

      Show Answer

      B .RBI

    48. The GHI is calculated by taking into account share of:

      1. Undernourished children
      2. Wasted children
      3. Stunted children
      4. Infant mortality rate

      Select the correct option from codes given below:

      [A] 1, 2 & 3 Only
      [B] 2 & 4 Only
      [C] 2, 3 & 4 Only
      [D] 1, 2, 3 & 4

      Show Answer

      D .1, 2, 3 & 4

    49. Who wrote the book principles of economics? 

      [A] Alfred Marshall
      [B] Milton Friedman
      [C] J S Mill
      [D] None of the above

      Show Answer

      A .Alfred Marshall

    50. Which Economist was the Co-founder of Samaj Pragati Sahayog?

      [A] Sukhadeo Thorat
      [B] Mihir Shah
      [C] Reetika Khera
      [D] B.B.Bhattacharya

      Show Answer

      B . Mihir Shah

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