Indian Economy Practice Question and Answer

Q:

Which of the following is considered as the main determinant of real wages?

1040 0

  • 1
    purchasing power of money
    Correct
    Wrong
  • 2
    Nature of work
    Correct
    Wrong
  • 3
    additional income
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 1. "purchasing power of money"

Q:

What is the process of constantly increasing prices?

1031 0

  • 1
    Inflation
    Correct
    Wrong
  • 2
    over production
    Correct
    Wrong
  • 3
    Mandi
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 1. "Inflation"

Q:

In which of the following years was the Reserve Bank of India nationalised?

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  • 1
    1935
    Correct
    Wrong
  • 2
    1949
    Correct
    Wrong
  • 3
    1927
    Correct
    Wrong
  • 4
    1965
    Correct
    Wrong
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Answer : 2. "1949"

Q:

In view of which of the following are cottage and small scale industries necessary in the Indian economy?

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  • 1
    employment generation
    Correct
    Wrong
  • 2
    Income Generation
    Correct
    Wrong
  • 3
    low cost
    Correct
    Wrong
  • 4
    none of these
    Correct
    Wrong
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Answer : 1. "employment generation"

Q:

The Surplus earned by a factor other thus land in the short period is referred as –

1027 0

  • 1
    Economic Rent
    Correct
    Wrong
  • 2
    Net Rent
    Correct
    Wrong
  • 3
    Quasi-Rent
    Correct
    Wrong
  • 4
    Super-Normal Rent
    Correct
    Wrong
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Answer : 3. "Quasi-Rent "
Explanation :

Explain: -The Surplus earned by a factor other than land in the short period is referred as quasi-rent.

Q:

'Poot determines his own demand' - Whose statement is this?

1023 0

  • 1
    Adam Smith
    Correct
    Wrong
  • 2
    J. B. Se.
    Correct
    Wrong
  • 3
    Marshal
    Correct
    Wrong
  • 4
    Ricardo
    Correct
    Wrong
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Answer : 2. "J. B. Se."

Q:

The Reserve Bank of India has an accounting year?

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  • 1
    October - September
    Correct
    Wrong
  • 2
    April-March
    Correct
    Wrong
  • 3
    July-June
    Correct
    Wrong
  • 4
    None of these
    Correct
    Wrong
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Answer : 2. "April-March"

Q:

The Removal of prohibitions and hindrance by the government is called. 

1020 0

  • 1
    Globalisation
    Correct
    Wrong
  • 2
    Privatisation
    Correct
    Wrong
  • 3
    Liberalisation
    Correct
    Wrong
  • 4
    Bilateral understanding.
    Correct
    Wrong
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Answer : 3. "Liberalisation "

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