Indian Economy Questions Practice Question and Answer

Q:

“World Bank” is also called as –

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  • 1
    International Bank for Reconstruction and development
    Correct
    Wrong
  • 2
    International, rehabilation and development bank
    Correct
    Wrong
  • 3
    International rehabilated and development bank
    Correct
    Wrong
  • 4
    None of these.
    Correct
    Wrong
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Answer : 1. "International Bank for Reconstruction and development"
Explanation :

The "World Bank" is also referred to as simply the "World Bank." While its full name is the "International Bank for Reconstruction and Development (IBRD)," the term "World Bank" is commonly used to refer to this international financial institution.

Q:

Which among the following is not the investment of goods & services? 

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  • 1
    Cost of machinery
    Correct
    Wrong
  • 2
    Increase in cost of raw goods
    Correct
    Wrong
  • 3
    Increasing department of company
    Correct
    Wrong
  • 4
    Cost of buying a house.
    Correct
    Wrong
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Answer : 3. "Increasing department of company "
Explanation :

Explain: -Increasing the department of company is not the matter of investment on goods and services


Q:

Which among the following is not true about the work of Human Resource and Development (HRD)–

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  • 1
    Caste – System
    Correct
    Wrong
  • 2
    Youth and Sport
    Correct
    Wrong
  • 3
    Education
    Correct
    Wrong
  • 4
    Child Development
    Correct
    Wrong
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Answer : 1. "Caste – System "

Q:

Who is a chairman of 15th Finance Commission of India?

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  • 1
    Nirmala Sitharaman
    Correct
    Wrong
  • 2
    Dr. Ashok Lahiri
    Correct
    Wrong
  • 3
    N. K. Singh
    Correct
    Wrong
  • 4
    Ajay Narayan
    Correct
    Wrong
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Answer : 3. "N. K. Singh "

Q:

The capital of IMF is made up by the contribution of–

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  • 1
    Credit
    Correct
    Wrong
  • 2
    Deficit Financing
    Correct
    Wrong
  • 3
    Member Nations
    Correct
    Wrong
  • 4
    Borrowings
    Correct
    Wrong
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Answer : 3. "Member Nations "
Explanation :

Explain: -IMF was established on 27th Dec 1945 by Bretton Woods conference. It started working from 1st March, 1947. Every member nations gives 25% money in terms of gold or US dollars.

Q:

The interest in infrastructure is less because. 

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  • 1
    There is large invest in it
    Correct
    Wrong
  • 2
    There needs a desired project
    Correct
    Wrong
  • 3
    Time to finish the infrastructure is more
    Correct
    Wrong
  • 4
    Profit is gained after long time.
    Correct
    Wrong
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Answer : 4. "Profit is gained after long time."
Explanation :

Infrastructure refers to the basic physical and organizational structures, facilities, systems, and services that are necessary for the functioning of a society, economy, or organization. It encompasses a wide range of essential components, including

Q:

Arthashastra by “Kautilya” is related with–

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  • 1
    Military Phase
    Correct
    Wrong
  • 2
    Political Reign
    Correct
    Wrong
  • 3
    Social Phase
    Correct
    Wrong
  • 4
    Economic Postulates
    Correct
    Wrong
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Answer : 2. "Political Reign"
Explanation :

Expl:- The Kautilya’s Arthasastra is related to political reign. Arthastra is an ancient Indian treatise on statecraft, economic Policy and Military strategy, written in sanskrit.

The Arthashastra is an ancient Indian treatise on statecraft, economic policy and military strategy, written in Sanskrit.

Q:

When there is affect on economic activity of an specific country due to import and export, then such economy are called-

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  • 1
    Closed economy
    Correct
    Wrong
  • 2
    Open economy
    Correct
    Wrong
  • 3
    Agricultural economy
    Correct
    Wrong
  • 4
    Industrial economy
    Correct
    Wrong
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Answer : 2. "Open economy "
Explanation :

Explain: -When there is change in economy due to import and export, then such economy is called Open economy. India enacted Open economy in 1991.

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