Economy Questions

Q1 Shankar acharya report is associated with which subject??

a) Increasing pulses production b) OROP recommendation

c) New Financial year d) Defence Modernization

Q2 What is Project Saksham??

a) Back end IT project for indirect tax b) self reliance scheme for rural
women

c ) entrepreneurship scheme for youth d) strengthening gram panchayats

Q3) How many companies are in BSE GREENEX??

a) 25 b) 50

c 75 d) 100

Q4 )What is the total Agriculture credit target as per Union Budget 2017-18??

a) 8 lack crore b) 10 lack crore

c) 12 lack crore d) 14 lack crore

Q5) What is the fiscal deficit target for 2017-18??

a) 3% B) 3.5%

C 3.2% D) 3.3%

Q6) For GDP calcuation base year has beec changed from 2004-05 to which year??

a) 2011-12 b) 2012-13

c) 2013-14 d) 2014-15
Q7 Which Five year plan was based on Harrod Domer model??

a) Third b) Second

c) Fourth d) First

Q8 Consider the following statements.

1. Economic growth will always lead to inflation.
2. Economic growth will always lead to better educaton and health standards

Which of the above statement are/is correct

a) 2

b) 1

c) none

d) both

Q9 PC malhonabis was associated with which field??

a) Banking b) Planning

c) Village self Government d) Defence

Q10 Milton Friedman won Nobel prize in which field??

a) Economics b) Literature

c) Medicine d) Peace

Q11 what is the total amount of money allocated for MNREGA in 2017-18??

a) Rs 44000 crore b Rs 48000 crore

c) Rs 32000 crore c) Rs 44000 crore

Q12 Who was the First Indian RBI Governor

a) John Mathai b) PC malhobanis

c) CD Deshmukh d) HVR iyengar

Q13 When was the scheme Accelerated Irrigation Benfit scheme Launched??

a) 1996-97 b) 1974-75

c) 2011-12 d) 1985-86

Q14 Balance of Payment can be improved by

a) Restricting unnecessary imports b) Imposing control on exports

c) Increasing Direct taxes d) Borrowing from abroad

Q15 Among all the sectors of the economy, which sector employs most number of
people??
a) Manufacturing
b) Agriculture
c) Construction
d) Govt service

Q16) What is a Free Market?

a) Market where goods are available for free b) Market where there is no
restriction on customers
c) Market where there is no govt intervention d) Market where you can sell
on prices goods at fixed prices

Q17) What is SWAYAM??

a) Virtual learning platform for students b) A banking tool for senior citizens
c) Govt scheme for Divyang d) Primary education facility

Q18) What are capital goods in economy??

a) Goods purchased by consumer b) Goods sent for exports

c) Goods used for producing other goods d) Goods used by banking sector

Q19) The Great Depression of 1929 is related to??

a) Atmospheric changes leading to cyclone in North america
b) Decline in production and employment in Western Nations
c) Collapse of traditional industry in African countries
d) Massive collapse of Textile Industry in UK

Q20) Deficit Financing may lead to which of the following

1) Increase in Inflation
2) increase in growth
3) Fiscal Deficit in Econmy
4) Surplus Budget

a) 1 only b) 2 ,3 and 4
c 1,2 and 3 d) All correct

Q21) Increase in Inflation can lead to which of the following

1) Increase in savings of household

2) depreciation of currency
3) increase in gold reserve
4) increasein productivity of agriculture

Q22) In which of the following sector 100% FDI is not allowed??

a) Defence b) Agriculture
c) Food products d) Animal husbandry

Q23) What do you mean by Greenfield Project??

a) resedential project in a green area b) Govt project to plant trees

c) Organic Farming promotion d) Projects on the unused land

Q24) What are white labelled ATM

a) ATM only used by the Govt Agencies b)ATM used only for
dispensing small value notes
c) ATM owned by non bank entity d) ATM owned by banks but
operated by private entity

Q25) India's first major commercial arbitration centre was launched in

a) New Delhi b) kolkata
c Chennai d) Pune

Q26) which sector has been recently included in Priority sector??

a) Sports infrastructure b) Automobile industry
c) Software exports d) Transport
Q27) What is Urja Ganga project??
a) connecting solar power plants in eastern UP b) wind power projects
c)Gas pipeline project in eastern india d) electricty infrastructure in
UP

Q28) Who are Suryamitras??

a) Govt app to make solar power popular b) Dynasty ruling in Ancient
kingdom of Anga
c) NGO working for renewable Energy d) Skilled Technicians for
installing Solar Power

Q29) 2nd generation Ethanol is manufactured from

a) Biomass, bamboo, rice straw b) Sugarcane
c) Jatropha d) petroleum industry waste

Q30) What is the rank of India in Global wind power installed Index??
a) 4th b) 7th
c)3rd d)5th

Q31 GAS4INDIA is an initiative asociated with

a) increasing Natural gas production in KG basin b) Social media campaign to
promote natural gas
c) to stab blackmarketing of Gas cylinder d) to increase availability of
Gas for poorer sections of
society

Q32 Ease of doing business index created by

a) World Bank b) IMF
c) World economic forum d) AIIB

Q33 Amount of money propsed for Indradhanush scheme in Union Budget is

a) Rs 10000crore b) Rs 15000 crore
c) Rs 110000 crore d) Rs 20000 crore

Q34 Which of the following statement is the best definition of the term Globalization
a) Domination of Global affair by west
b) promotion of human rights across the world
c) Allowing free movement of economic entities, services , goods and labour
d) spread of global communication network

Q35) Which economist is associated with the term Laissez Faire

a) John Keyns b) Joseph Stiglitz
c) Amartya Sen d) Adam Smith
Q36) Tarang Mobile app is associated with which Ministry
a) Ministry of Telecommunication b) Ministry of Coal
c) Ministry of HOme Affairs d) HRD ministry

Q37) What is GDP deflator

a) Ratio between gdp at current prices and gdp b) Ratio of gdp at current prices
at market price and gdp at constant prices
c) Ratio of GDP at factor cost and gdp at market d) ratio of GDP at market and GVA
cost

Q38) Whcih of the following is not a money market instrument

A) stocks b) treasury bill

c) Bils of exchange d) Commercial Papers

Q39) which of the following bank cannot accept deposits under PMGKY
a) RRB B) Foreign Banks
c) Cooperative banks d) Private Banks

Q40 what is India's rank in global competitive index

a) 38th b) 39th
c) 40th d) 41st

Q41) Who released World economic and social outlook Report

a) World economic forum b) world Bank
c) UNDP D) ILO

Q42) which organization releases global retail development Index

a) PwC b) E n Y
C) AT Kearney d) CRISIL

Q43) What is the consequence of higher Capital Adequacy Ratio

a) Banks will increase the interest rate
b) banks will re restricted to lend higher mounts
c) Banks can lend with near zero interest rates
d) Banks will have to maintain higher amount of capital

Q44) What is Mixed economy

a) economy where there is equal weightage to private and govt sector
b) Economy where both private sector and govt planning may play a role
c) Ecomy dominated by agricultre and Manufacturing secor
d) Economy in which there is high level of Inequality
Q45) What is AADHAR pay
a) app to transfer govt subsidy b) App for Merchants to recieve
digital apymet from customer
c) linking aadhar with gas payment d) Peer to Peer transfer of money

Q46) Which sector has the largest share in WPI index

a) Services b) Manufacturing
c) Fuel d) Primary products

Q47) What is INDAS

a) Indus valley archaelogy survey b) Indian accounting standards
c) Indian Archaelogical survey d) Indian DEpositery Account service

Q48) Demonetization was announced on which date

a) 8th November 2016 b) 9th NOvember 2016
c) 10th November 2016 d) 10th November 2016

Q49) BHIM app was launched on which date

a) 30th december 2016 b) 31st december 2016
c) 14th April 2017 d) 14th February 2017

Q50) Which committee was setup post demonetization to identify all possible digital
payment channels

a) Bibek Debroy committee b) amitabh kant committee

c) Ratan wattal commitee d) NK singh committee

Q51) Acc to economic survey by how much percentage is India's Tax to GDP ratio less
than comparable countries

a) 5.4% b) 6.7%
c) 10% d) 11%

Q52) The supply side economy puts greater emphasis on the point of view of

A) Producer b) global economy

c) Consumer d) Middle man

Q53) Why was full convertability of indian rupee advocated in liberalization

a) it will attract more foreign capital in India

b) convertability of rupee will stabalize its value against international currencies
c) It will help promote exports
d) It will hlp secure loans from world bank at easier terms

Q54) Capital account convertability of Rupee implies

a) that indian rupee can be exchanged by authorised dealers for travel

b) that indian rupee can b exchanged for any major currency for the purpose of trade
and services
c) that the indian rupee can be traded for any major currency for the purpose of
purchasing financia Assets
d) None of the above

Q55) corporation tax is

a) is levied and appropriated by states

b) is levied by union and collected and appropriated by states
c) is levied by the union and shared by union and states
d) is levied by union and belongs to it exclusively

Q 56)
Assertion (A) : an imp tool of economic liberalization is reduction in import duty of
capital goods
Reason (R) : reduction in import duty will help local manufacturers to improve the
technology to meet global market

a) Both A and R is true and R is correct explanation of A

b) ) Both A and R is true and R is not the crrect explanation of A
c) A is true but R is false
d) A is false but R is true

Q57) SAMPADA scheme is related to

a) Cuture b) food processing
c) rural development d) skill development

Q58) Which of the following come under Non-plan expenditure ?

I. Subsidies
II. Interest payments
III. Defence expenditure
IV. Maintenance expenditure for the infrastructure created in the previous plans

a) 1 and2
b) 1 and 3
c) 2 and 4
d) 1,2 ,3 and 4
Q59) Which of the following statement are correct

List I (Term) List II (Explanation)

I. Fiscal deficit
II. Budget deficit
III. Revenue deficit
IV. Primary deficit
(A) Excess of Total Expenditure over Total Receipts
(B) Excess of Revenue Expenditure over Revenue
Reciepts
(C) Excess of Total Expenditure over Total Receipts less
borrowings
(D) Excess of Total Expenditure over Total Receipts less
borrowings and Interest Payments

Q60) K. Kasturirangan-led panel has recommended a ban on development activities in

around 60000 sq. km ecologically sensitive area spread over

a) Gujarat, Goa , Maharashtra, Kerela , Tamil nadu, Karnataka

b) Goa , Maharashtra, Kerela , Tamil nadu
c) Gujarat, Goa , Maharashtra, Kerela, Karnataka
d) UP, Madhya pradesh, rajasthan, Bihar ,Delhi

Q61) A redistribution of income in a country can be best brought about through

a) a progressive taxation followed by progressive expenditure

b) a progressive taxation followed by regressive expenditure
c) a regressive taxation followed by progressive expenditure
d) a regressive taxation followed by regressive expenditure

Q 62) Which of the following was not the aim of demonetization

a) To increase credit to agriculture sector

b) To stop corruption
c) to stop financing to terror organization
d) to stop counterfeit notes

Q63) Which of them is not ikely to be long term impact of demonetization acc tp
Economic Survey
a) Decrease in unaccounted money
b) Increase of digital payment
c) increase in informal jobs
d) Fall in price of real estate

Q64) What is twin balance sheet problem?

a) Format problem in indian accounting system

b) NPA problem of bank and high indebtness of companies
c) Npa problem of Banks and decreasing amrket value of Corporates
d) Reducing customer base of banks and increasing interest rate

Q65) Global Financial crisis was observed in which year

a) 2011-12
b) 2014-15
c) 2008-09
d) 2010-11

Q66) What is the objective of FRBM act

a) To improve the financial strength of the states

b) To bring reforms in banking Sector
c) To seperate ownership from Management of Banks
d) To reduce Fiscal Deficit of India

Q67) Which of the two low skill manufacturing sectors are mentioned in
economic survey as important for economy??

a) clothes and shoes

b) technical textile and construction
c) salt and sugar production
d) consumer durable and Automobile parts

Q68) State with highest life expectancy in India

a)Kerela
b) Rajasthan
c) tamil Nadu
D) West Bengal

Q69) What is Dutch Disease

a) viral disease originating in Holand

b) water contamination problem in Netherland
c) Negative Impact on economy due to sharp inflow of foreign currency
d) Obesity problems caused due to lack of exercise

Q70 Approximately how much is the contribution of urban Areas in GDP

a 50% b 60%
c 80% d 35%
Q 71 Devaluation of currency means??

a) reduction of value of currency with respect to internationally traded currencies

b) permitting the currency to seek its value in international market
c) Fixed value of currency with basket of predetermined international currencies
d) WB, IMF stipulated value of currency

Q72) Which state has the Highest Fiscal deficit in the year 2016-17

A) Kerela
b) Uttar Pradesh
c) Bihar
d) Tamil Nadu

Q73) Former RBI Governer Raghuram rajan is associated with which famous American
University

a) Chicago University
b) North Western University
c) Stanford University
d) Harvard Business School

Q74) Which state is first in list of best to implemet urban reforms

a) Nagaland
b) Haryana
c) Uttar Pradesh
d) Andhra Pradesh

Q75) Amartya sen was awarded Nobel prize in field of

a) Monetory Economics
b) Welfare Economics
c) Public Economics
d) International Economcis

Q76) Economc growth is usually coupled with

a) Inflation
b) Deflation
c) Stagflation
d) Hyper Inflation

Q77) A rapid increase in Inflation is sometimes attributed to "Base effect".. What is base effect

a) Impact of drastic deficiency in supply due to failure of crops

b) Impact of Surge in demand due to rapid economic growth
c) Impact of price leevl of previous years on the calculation of inflation rate
d) None of the above
Q78) The Fair and Remunerative Price of Sugarcane is approved by the
a) Cabinet Committee on Economic affair
b) Commission of Agricultural Cost and Prices
c) FCI
d) RBI

Q79) Consider the following actions by the Government:

1. Cutting the tax rates
2. Increasing the government spending
3. Abolishing the subsidies In the context of economic recession
which of the above actions can be considered a part of the 'fiscal stimulus' package?

a) 1 and 2 only
b) 2 only
c) 1,2 and 3
d) none

Q80) Human Development Index comprises literacy rates, life expectancy at birth and
a) GDP per head in dollars
b) GDP per head in PPP terms
c) GNP in US dollars
d) National income per head in Us Dollars

Answer Key:

1-c 2a 3a 4b 5c a 7d 8d 9b 10a 11b 12c 13 a 14a 15b 16c 17a 18c 19b 20c 21b 22b 22b 23d 24c
25d 26a 27c 28d 29a 30a 31b 32a 33a 34 c 35 d 36b 37b 38a 39c 40 b 41 b 42c 43d 44b 45 b 4b
47b 48a 49a 50b 51a 52a 53a 54c 55d 56a 57b 58d 59d 60a 61b 62a 63c 64b 65c 66d 67a 68a 69c
70b 71a 72b 73a 74d 75b 76a 77c 78a 79c 80d