Indian Economy Practice Question and Answer
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Q: Who among the following formulates the monetary policy in India?
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60939266b8018e6486aedf6b- 1Finance Commission of Indiafalse
- 2Reserve Bank of Indiatrue
- 3NITI Aayogfalse
- 4The Ministry of Statistics and Programme Implementationfalse
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Answer : 2. "Reserve Bank of India "
Q: What is India's position in the Human Development Index?
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5f7d512590b25c12b1ef8ac9- 1126true
- 2127false
- 3129false
- 4128false
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Answer : 1. "126"
Q: Diamonds are priced higher than water because–
1690 060123fc3178b94051cee4ac7
60123fc3178b94051cee4ac7- 1consumers do not buy them at lower prices.false
- 2they are sold by selected firms with monopolistic powers.true
- 3their total utility to buyers is higher than that of water.false
- 4their marginal utility to buyers is higher than that of waterfalse
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Answer : 2. "they are sold by selected firms with monopolistic powers."
Q: In which year Kisan Credit Card Scheme was launched?
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61139d8688e0566940a6f0a0- 11990false
- 21950false
- 31998true
- 42000false
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Answer : 3. "1998"
Q: Which of the following is not investment expenditure in good and servies?
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5f02a55d7a5a806340b11306- 1Purchase of a housetrue
- 2Purchase of a machineryfalse
- 3Expansion of the main plant of a companyfalse
- 4An increases in business inventoriesfalse
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Answer : 1. "Purchase of a house"
Q: Which of the following is the most dynamic factor of production?
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60d3150b025df84f0791cd45- 1Capitaltrue
- 2Organizationfalse
- 3landfalse
- 4Laborfalse
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Answer : 1. "Capital"
Q: Which country is the largest consumer of gold in the world?
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60d3174d6cc0e73be00e4351- 1Japanfalse
- 2Indiatrue
- 3Russiafalse
- 4Francefalse
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Answer : 2. "India"
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 ____________.
1672 05f572bd6f13b91397f39d344
5f572bd6f13b91397f39d344- 1Depreciationfalse
- 2Mortgagefalse
- 3Devaluationfalse
- 4Arbitragetrue
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Answer : 4. "Arbitrage"
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