Indian Economy Questions Practice Question and Answer

Q:

In Economics, buying an asset in one market and simultaneously selling an identical asset in another market at a higher price is termed as ____________.

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  • 1
    Depreciation
    Correct
    Wrong
  • 2
    Mortgage
    Correct
    Wrong
  • 3
    Devaluation
    Correct
    Wrong
  • 4
    Arbitrage
    Correct
    Wrong
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Answer : 4. "Arbitrage"

Q:

The tree like structure of records in a database in-

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  • 1
    Network Model
    Correct
    Wrong
  • 2
    Hierarchical Model
    Correct
    Wrong
  • 3
    Relational Model
    Correct
    Wrong
  • 4
    Multi-Dimenmoral Model
    Correct
    Wrong
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Answer : 2. "Hierarchical Model"
Explanation :

Explain: -Hierarchical structures were widely used in the early mainframe database management system, such as the Information Management System

Q:

Due to worldwide great depression, ‘New Deal’ was declared by?

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  • 1
    Abhraham Lincon
    Correct
    Wrong
  • 2
    Benzamin Frankllin
    Correct
    Wrong
  • 3
    J.F. Kennedy
    Correct
    Wrong
  • 4
    Roozwelt
    Correct
    Wrong
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Answer : 4. "Roozwelt"
Explanation :

Explain: -New Deal definition. A group of government programs and policies established under President Franklin D. Roosevelt in the 1930s; the New Deal was designed to improve conditions for persons suffering in the Great Depression.

Q:

A discount given for the purpose of increasing sales is called-

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  • 1
    Commercial leave
    Correct
    Wrong
  • 2
    Cash discount
    Correct
    Wrong
  • 3
    Discount received
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 1. "Commercial leave"

Q:

Which of the following banks got the top spot among the PSU banks in the digital transactions as per the report published by the Department of Financial Services?

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  • 1
    State Bank of India
    Correct
    Wrong
  • 2
    Bank of India
    Correct
    Wrong
  • 3
    Punjab National Bank
    Correct
    Wrong
  • 4
    Bank of Baroda
    Correct
    Wrong
  • 5
    IDBI Bank
    Correct
    Wrong
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Answer : 3. "Punjab National Bank"
Explanation :

State Bank of India (SBI) and its associate banks and other commercial banks such as Central Bank of India, Bank of India, Punjab National Bank and various regional rural banks are some examples of public sector commercial banks.


Q:

Who among the following became the first Chief Minister of the National Capital Territory of Delhi in 1993?

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  • 1
    Madan Lal Khurana
    Correct
    Wrong
  • 2
    Sheila Dixit
    Correct
    Wrong
  • 3
    Sushma Swaraj
    Correct
    Wrong
  • 4
    Sahib Singh Verma
    Correct
    Wrong
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Answer : 1. "Madan Lal Khurana"
Explanation :

1. Madan Lal Khurana (15 October 1936 – 27 October 2018) was an Indian politician and former Chief Minister of Delhi from 1993 to 1996.

2. He was succeeded by Gurmukh Nihal Singh of the Indian National Congress, who held the post for just one year in 1955.

3. The States Reorganization Act, 1956 made Delhi a union territory under central control.

Q:

The Indian economy can be appropriately described as a: 

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  • 1
    Traditional economy
    Correct
    Wrong
  • 2
    Mixed economy
    Correct
    Wrong
  • 3
    Capitalist economy
    Correct
    Wrong
  • 4
    Socialist economy
    Correct
    Wrong
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Answer : 2. "Mixed economy "

Q:

Which curve shows the inverse relationship between unemployment and inflation rates?

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  • 1
    Phillips curve
    Correct
    Wrong
  • 2
    Indifference curve
    Correct
    Wrong
  • 3
    IS curve
    Correct
    Wrong
  • 4
    Supply curve
    Correct
    Wrong
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Answer : 1. "Phillips curve "

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