Indian Economy Practice Question and Answer

Q:

Where is the headquarter of Food and Agriculture Organization located?

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  • 1
    Rome
    Correct
    Wrong
  • 2
    Geneva
    Correct
    Wrong
  • 3
    Paris
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 1. "Rome"

Q:

In which year Kisan Credit Card Scheme was launched?

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  • 1
    1990
    Correct
    Wrong
  • 2
    1950
    Correct
    Wrong
  • 3
    1998
    Correct
    Wrong
  • 4
    2000
    Correct
    Wrong
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Answer : 3. "1998"

Q:

Diamonds are priced higher than water because–

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  • 1
    consumers do not buy them at lower prices.
    Correct
    Wrong
  • 2
    they are sold by selected firms with monopolistic powers.
    Correct
    Wrong
  • 3
    their total utility to buyers is higher than that of water.
    Correct
    Wrong
  • 4
    their marginal utility to buyers is higher than that of water
    Correct
    Wrong
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Answer : 2. "they are sold by selected firms with monopolistic powers."

Q:

Which of the following is the most dynamic factor of production?

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  • 1
    Capital
    Correct
    Wrong
  • 2
    Organization
    Correct
    Wrong
  • 3
    land
    Correct
    Wrong
  • 4
    Labor
    Correct
    Wrong
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Answer : 1. "Capital"

Q:

Which economist prepared the first human development index?

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  • 1
    Prof. Amartya Sen
    Correct
    Wrong
  • 2
    Mehboob-ul-Haq
    Correct
    Wrong
  • 3
    Dr. Manmohan Singh
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "Mehboob-ul-Haq"

Q:

Petrocard for the sale of petroleum products is issued by which company?

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  • 1
    H.P.C.L
    Correct
    Wrong
  • 2
    B.P.C.L
    Correct
    Wrong
  • 3
    L.O.C.L
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 2. "B.P.C.L"

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 "

Q:

A ____________ occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings.

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  • 1
    Current Account Deficit
    Correct
    Wrong
  • 2
    Budgetary Deficit
    Correct
    Wrong
  • 3
    Revenue Deficit
    Correct
    Wrong
  • 4
    Fiscal Deficit
    Correct
    Wrong
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Answer : 4. "Fiscal Deficit"

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