Economics GK Practice Question and Answer

Q:

What is considered to be knowledge, technical skill, education etc. in the economy?

1330 0

  • 1
    Tangible physical capital
    Correct
    Wrong
  • 2
    Working Capital
    Correct
    Wrong
  • 3
    Human Capital
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 3. "Human Capital"

Q:

Who assesses the national income numbers in India?

1323 0

  • 1
    Planning Commission Ministry of Finance
    Correct
    Wrong
  • 2
    Central Statistical Organization
    Correct
    Wrong
  • 3
    Reserve Bank of India
    Correct
    Wrong
  • 4
    Reserve Bank of India
    Correct
    Wrong
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Answer : 2. "Central Statistical Organization"

Q:

Which is the most suitable grain in India?

1317 0

  • 1
    Wheat
    Correct
    Wrong
  • 2
    Barley
    Correct
    Wrong
  • 3
    Maize
    Correct
    Wrong
  • 4
    Rice
    Correct
    Wrong
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Answer : 4. "Rice"

Q:

The Reserve Bank of India has an accounting year?

1315 0

  • 1
    October - September
    Correct
    Wrong
  • 2
    April-March
    Correct
    Wrong
  • 3
    July-June
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "April-March"

Q:

As per the recommendations of the National Statistical Commission, the Base Year of the GDP Series in India was revised from 2004-05 to ______ with effect from January 2015.

1305 0

  • 1
    2011-12
    Correct
    Wrong
  • 2
    2013-14
    Correct
    Wrong
  • 3
    2005-06
    Correct
    Wrong
  • 4
    2009-10
    Correct
    Wrong
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Answer : 1. "2011-12"
Explanation :

1. From January 2015, as per the recommendations of the National Statistical Commission, the GDP in India The base year of the (GDP) series was revised from 2004-05 to 2011-12.

Q:

What is the relationship between the value of money and the price level in an economy?

1287 0

  • 1
    stable
    Correct
    Wrong
  • 2
    inverse
    Correct
    Wrong
  • 3
    Anulom
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 2. "inverse"

Q:

In view of which of the following are cottage and small scale industries necessary in the Indian economy?

1277 0

  • 1
    employment generation
    Correct
    Wrong
  • 2
    Income Generation
    Correct
    Wrong
  • 3
    low cost
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 1. "employment generation"

Q:

'Poot determines his own demand' - Whose statement is this?

1260 0

  • 1
    Adam Smith
    Correct
    Wrong
  • 2
    J. B. Se.
    Correct
    Wrong
  • 3
    Marshal
    Correct
    Wrong
  • 4
    Ricardo
    Correct
    Wrong
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Answer : 2. "J. B. Se."

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