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Indian Economics General Knowledge Questions and Answers

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Economics General Knowledge

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Indian Economics General Knowledge Questions and Answers          

  Q :  

How many member is in the GST Council of India?

(A) 33

(B) 34

(C) 36

(D) 27

Correct Answer : A

Q :  

The gradation and standardization of agricultural products are conducted through

(A) Food Corporation of India

(B) Directorate of Marketing and Inspection

(C) Indian Standards Institution

(D) Central Statistical Organization

Correct Answer : B

Q :  

What kind of economy is there in India?

(A) socialist

(B) Mixed

(C) Free

(D) Gandhian

Correct Answer : B

Q :  

Deficit financing means the government borrows money from the – 

(A) International Monetary Fund

(B) Ministry of Finance

(C) Reserve Bank of India

(D) World Trade Organization

Correct Answer : C

Q :  

Which among the following formulates fiscal policy? 

(A) RBI

(B) Finance Ministry

(C) SEBI

(D) Planning Commission

Correct Answer : A

Q :  

The Economic development depends on-

(A) Natural resources

(B) Capital formation

(C) Size of the market

(D) All of these

Correct Answer : D

Q :  

Value of Total Goods and Services produced in a country is its _____________ .

(A) Gross Domestic Product

(B) Gross Revenue Income

(C) Total Goods Revenue

(D) Total Income

Correct Answer : A

Q :  

What is the demand for labor called?

(A) Market demand

(B) Direct demand

(C) Derived demand

(D) Factory demand

Correct Answer : C

Q :  On which great mahatma's name "National Rural Employment Guarantee Scheme?"

(A) Rajeev Gandhi

(B) Mahatama Gandhi

(C) Indira Gandhi

(D) Jawahar Lal Nehru

Correct Answer : B

Q :  

The process of curing inflation by reducing money supply is called 

(A) Cost - push inflation

(B) Demand - pull inflation

(C) Disinflation

(D) Reflation

Correct Answer : C

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