Economics GK Questions Practice Question and Answer
8 Q: In India, which of the following statements about the National Investment Fund is true?
Statements:
I. It was created in 2005.
II. 75% of its annual income was to be used for schemes promoting health, education and employment.
III. It was dissolved in 2018.
1551 064c3886c9e9013486a7a03bc
64c3886c9e9013486a7a03bcStatements:
I. It was created in 2005.
II. 75% of its annual income was to be used for schemes promoting health, education and employment.
III. It was dissolved in 2018.
- 1Only statement Ifalse
- 2Only statement IIfalse
- 3Only statements I and IIIfalse
- 4Only statements I and IItrue
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Answer : 4. "Only statements I and II"
Explanation :
All the statements about the National Investment Fund in India are true.
I. It was created in 2005.
II. 75% of its annual income was to be used for schemes promoting health, education and employment.
Q: The national income is divided by the per capita income?
1536 06052f4b1a37d522d6c188242
6052f4b1a37d522d6c188242- 1Area of the countryfalse
- 2Total population of the countrytrue
- 3Quantity of capital usedfalse
- 4None of thesefalse
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Answer : 2. "Total population of the country"
Q: What is the economy of Rajasthan based on?
1495 061a4c0156075564728116aa9
61a4c0156075564728116aa9- 1Agriculture Basedtrue
- 2based on industry Basedfalse
- 3Based on servicefalse
- 4None of thesefalse
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Answer : 1. "Agriculture Based"
Explanation :
Rajasthan is a mineral-rich state and has a diversified economy having agriculture, mining and tourism as its main engines of growth.
Q: Which state has the highest per capita income?
1486 06052f2964999e13f2a6bb577
6052f2964999e13f2a6bb577- 1Gujaratfalse
- 2Maharashtrafalse
- 3Goatrue
- 4Punjabfalse
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Answer : 3. "Goa"
Q: According to law of supply, if everything is equal then an increase in price results in ________.
1478 060c355e63ef9d27847d12d6e
60c355e63ef9d27847d12d6e- 1Decrease in quantity suppliedfalse
- 2Increase in quantity suppliedtrue
- 3Decrease in quantity demandedfalse
- 4Increase in quantity demandedfalse
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Answer : 2. "Increase in quantity supplied "
Q: In an economy, on what basis are sectors classified into public and private?
1476 06052f1d9a01bc44789ad1d80
6052f1d9a01bc44789ad1d80- 1Terms of employmentfalse
- 2Ownership of enterprisestrue
- 3Use of raw materialsfalse
- 4None of thesefalse
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Answer : 2. "Ownership of enterprises"
Q: What is the maximum contribution to the national income of India?
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6052f21d4999e13f2a6bb4ae- 1Service Sectortrue
- 2Business Areafalse
- 3Agricultural sectorfalse
- 4Industry Sectorfalse
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Answer : 1. "Service Sector"
Q: Disguised unemployment is commonly seen in India.
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6052f0f84999e13f2a6bb0b1- 1In the service sectorfalse
- 2In the agricultural sectortrue
- 3Factory areafalse
- 4All thesefalse
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