Indian Economy Practice Question and Answer

Q:

An area which supports the economy and export trade of a sea port is called its ______.

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  • 1
    Trade land
    Correct
    Wrong
  • 2
    Hinter land
    Correct
    Wrong
  • 3
    Import land
    Correct
    Wrong
  • 4
    Export land
    Correct
    Wrong
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Answer : 2. "Hinter land"

Q:

Which of the following is popular as plastic currency?

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  • 1
    A. Tm
    Correct
    Wrong
  • 2
    paper note
    Correct
    Wrong
  • 3
    Check
    Correct
    Wrong
  • 4
    Draft
    Correct
    Wrong
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Answer : 1. "A. Tm"

Q:

What is called by the government to abolish the old currency and move to the new currency?

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  • 1
    Demonetization
    Correct
    Wrong
  • 2
    devaluation
    Correct
    Wrong
  • 3
    Currency contraction
    Correct
    Wrong
  • 4
    All these
    Correct
    Wrong
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Answer : 1. "Demonetization"

Q:

Which of the following are not functions of currency?

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  • 1
    Medium
    Correct
    Wrong
  • 2
    Measurement
    Correct
    Wrong
  • 3
    Payment
    Correct
    Wrong
  • 4
    Writing and editing
    Correct
    Wrong
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Answer : 4. "Writing and editing"

Q:

When was the Bombay Stock Exchange established?

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  • 1
    1890 A.D.
    Correct
    Wrong
  • 2
    1865 A.D.
    Correct
    Wrong
  • 3
    1875 A.D.
    Correct
    Wrong
  • 4
    1881 A.D.
    Correct
    Wrong
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Answer : 3. "1875 A.D."

Q:

Which of the following monetary policy instruments is used by the RBI to control inflation?

1608 0

  • 1
    Fiscal traction
    Correct
    Wrong
  • 2
    Austerity measures
    Correct
    Wrong
  • 3
    Repo rate
    Correct
    Wrong
  • 4
    Fiscal boost
    Correct
    Wrong
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Answer : 3. "Repo rate"

Q:

Which form of currency is more prevalent nowadays?

1601 0

  • 1
    Metallic money
    Correct
    Wrong
  • 2
    letter money
    Correct
    Wrong
  • 3
    Coins
    Correct
    Wrong
  • 4
    All of these
    Correct
    Wrong
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Answer : 2. "letter money"

Q:

Stagflation is defined as

1598 0

  • 1
    high inflation, low growth, high unemployment
    Correct
    Wrong
  • 2
    high inflation, low growth, high unemployment
    Correct
    Wrong
  • 3
    high inflation, high growth, high unemployment
    Correct
    Wrong
  • 4
    low inflation, high growth, low unemployment
    Correct
    Wrong
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Answer : 2. "high inflation, low growth, high unemployment "

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