Indian Economy Set 2
Q.1 Economic development depends on
1. Size of the market
2. Natural resources
3. Capital formation
4. All of the above
Answer : 4
Q.2 Money supply is governed by the
1. Reserve Bank of India
2. Planning Commission
3. Commercial Banks
4. Finance Commission
Answer : 1
Q.3 The Draft of the Five Year Plans in India is approved by the
1. Planning Commission
2. Ministry of Finance
3. National Productivity Council
4. National Development Council
Answer : 4
Q.4 Green Revolution started in
1. 1965-66
2. 1964-65
3. 1966-67
4. 1967-68
Answer : 3
Q.5 Which state is the largest producer of Tobacco ?
1. Madhya pradesh
2. West Bengal
3. Assam
4. Andhra Pradesh
Answer : 4
Q.6 Banking regulation act was passed in ?
1. 1947
2. 1949
3. 1950
4. 1948
Answer : 2
Q.7 States earn maximum revenue through
1. License sales
2. Customs
3. Commercial taxes
4. Tax Fines
Answer : 3
Q.8 Which Indian got Nobel Prize for Economics ?
1. C.V.Raman
2. Amarthiya Sen
3. Teressa
4. M. S. Swaminathan
Answer : 2
Q.9 The census in India is done after a gap of every
1. 10 years
2. 11 years
3. 9 years
4. 12 years
Answer : 1
Q.10 The Headquarter of RBI is in
1. Kolkata
2. Delhi
3. Mumbai
4. None of the above
Answer : 3
Q.11 Capital information in an economy depends on
1. Total income
2. Total demand
3. Total savings
4. Total production
Answer : 3
Q.12 Sarva Siksha Abhiyan is aimed at the education of which of the following?
1. Engineering and Technical education
2. Education of girls upto graduation level
3. College education
4. Education of children between 6 – 14 years
Answer : 4
Q.13 The Mid-Day Meal Scheme has been launched by the Union Minister of
1. Home Affair
2. Human Resource Development
3. Social Welfare
4. Rural Development
Answer : 2
Q.14 Which is NOT included in Social Infrastructure?
1. Education
2. Housing
3. Telecommunication
4. Health
Answer : 3
Q.15 The Blue Revolution is related with
1. Fish Production
2. Food grain Production
3. Oilseed Production
4. Milk Production
Answer : 1
Q.16 If Reserve Bank of India reduces the cash reserve ratio, it will :
1. increase credit creation
2. decrease credit creation
3. have no impact on credit creation
4. have no definite impact on credit creation
Answer : 1
Q.17 Chief Ministers of States are members of
1. NITI Commission
2. Finance Commission
3. Election Commission
4. National Development Council
Answer : 4
Q.18 When the demand for a good increases with an increase in income, such a good is called___________
1. Superior good
2. Giffin good
3. Inferior good
4. Normal good
Answer : 1
Q.19 The demand of a commodity is a direct demand but the demand of a factor of production is called a
1. Crossed demand
2. Joint demand
3. Derived demand
4. Independent demand
Answer : 3
Q.20 Depreciation is loss in value of _____
1. Final goods
2. Machinery
3. Capital stock
4. Stock of inventory
Answer : 2
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Q.21 Planning Commission was constituted on ?
1. 1948
2. 1950
3. 1949
4. 1951
Answer : 2
Q.22 The concept of Economic Planning in India is derived from ?
1. Ireland
2. UK
3. USA
4. Russia
Answer : 4
Q.23 National Planning Committee was set up by
1. Mahatma Gandhi
2. Jawaharlal Nehru
3. Subhash Chandra Bose
4. None of the above
Answer : 3
Q.24 National income ignores
1. Salary of employees
2. Sales of a firm
3. Sale of land
4. Exports of the IT sector
Answer : 3
Q.25 Export-Import bank of India was established in ?
1. 1983
2. 1981
3. 1982
4. 1984
Answer : 3
Q.26 Industrial Development Bank of India (IDBI) established in
1. 1964
2. 1963
3. 1966
4. 1968
Answer : 1
Q.27 Which is the most important source of income for Government of India ?
1. Licence fee
2. Excise duty
3. Income tax
4. Interest
Answer : 2
Q.28 In which Five Year Plan, Economic Development Rate was maximum?
1. Fourth Five Year Plan
2. First Five Year Plan
3. Sixth Five Year Plan
4. Tenth Five Year Plan
Answer : 4
Q.29 Who was the First Chairman of Planning Commission of India?
1. John Mathai
2. M. Viswesvarya
3. Jawahar Lal Nehru
4. None of the Above
Answer : 3
Q.30 The currency notes are printed in
1. Nasik
2. Nagpur
3. Bombay
4. New Delhi
Answer : 1