Indian Economy Practice Question and Answer

Q:

The Production of a commodity mostly through the natural process is an activity of–

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  • 1
    Primary Sector
    Correct
    Wrong
  • 2
    Secondary Sector
    Correct
    Wrong
  • 3
    Tertiary Sector
    Correct
    Wrong
  • 4
    Technology Sector
    Correct
    Wrong
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Answer : 1. "Primary Sector "
Explanation :

Explain: -The Production of a commodity mostly through the natural process is an activity of primary sector. For Example:– agriculture an agricultural products, fertilizers, animal husbandry etc

Q:

Which of the following is/are one of the United Nations Sustainable Development Goals?

(A) Zero Hunger

(B) Climate Action

(C) Life Below Water

(D) Quality Education

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  • 1
    A, B, C and D
    Correct
    Wrong
  • 2
    A and B
    Correct
    Wrong
  • 3
    B and C
    Correct
    Wrong
  • 4
    A, C and D
    Correct
    Wrong
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Answer : 1. "A, B, C and D"
Explanation :

All these are the main goals of the United Nations Sustainable Development Goals.

(A) Zero Hunger
 (B) Climate Action
 (C) Life Below Water
 (D) Quality Education

Major goals of the UN Sustainable Development Goals:

1. Poverty Eradication: End extreme poverty for all people everywhere by 2030.

2. End hunger: Ensure food security and improved nutrition for all by 2030 and promote sustainable agriculture.

3. Health and Well-Being: To promote healthy lives and well-being for people of all ages.

4. Education for all: To ensure inclusive and equitable quality education for all by 2030.

5. Gender equality: Achieving gender equality and promoting the empowerment of women and girls.

6. Clean water and sanitation: Ensuring safe and accessible clean water and sanitation services for all.

Q:

IMF was established to meet which of the following objectives.

(i) Promoting International Monetary Cooperation

(ii) Expending International Trade

(iii) Lessening the inequlibrium in trade

(iv) Avoiding competitive exchange depreciations.

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  • 1
    i,ii,iii
    Correct
    Wrong
  • 2
    i, iii, iv
    Correct
    Wrong
  • 3
    ii, iv
    Correct
    Wrong
  • 4
    i, ii, iii, iv
    Correct
    Wrong
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Answer : 2. "i, iii, iv"
Explanation :

Explain: -IMF stands for international monetary fund. It publishes “World Economic outlook” every year, IMF is an organisation of 189 countries, working to faster global monetary co-orperation, secur. The International Monetary Fund (IMF) is an organization of 189 countries, working to foster global monetary cooperation, secure financial stability, facilitate international trade, promote high employment and sustainable economic growth, and reduce poverty around the world.

Q:

Fiscal policy refers to–

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  • 1
    Government borrowings from abroad
    Correct
    Wrong
  • 2
    Sharing of its revenue by Central Government with States
    Correct
    Wrong
  • 3
    Sale and purchase of securities by RBI
    Correct
    Wrong
  • 4
    Government taxes, expenditure and borrowings
    Correct
    Wrong
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Answer : 4. "Government taxes, expenditure and borrowings"

Q:

Which among the following is the quantitative method of credit control by the Central Bank?

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  • 1
    Marginal requirements
    Correct
    Wrong
  • 2
    Credit rationing
    Correct
    Wrong
  • 3
    Direct action
    Correct
    Wrong
  • 4
    Bank rate
    Correct
    Wrong
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Answer : 4. "Bank rate"

Q:

Preparing butter and ghee for household consumption of own family is a part of –

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  • 1
    Household investment production
    Correct
    Wrong
  • 2
    Industrial production
    Correct
    Wrong
  • 3
    Consumption
    Correct
    Wrong
  • 4
    Own Account Production
    Correct
    Wrong
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Answer : 4. "Own Account Production"
Explanation :

Explain: -Preparing butter and ghee by a family for household consumption is a part of own account production.

Q:

The state is the first state to issue a human development report?

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  • 1
    Kerala
    Correct
    Wrong
  • 2
    Rajasthan
    Correct
    Wrong
  • 3
    U.P.
    Correct
    Wrong
  • 4
    Madhya Pradesh
    Correct
    Wrong
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Answer : 4. "Madhya Pradesh"

Q:

“World Bank” is also called as –

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  • 1
    International Bank for Reconstruction and development
    Correct
    Wrong
  • 2
    International, rehabilation and development bank
    Correct
    Wrong
  • 3
    International rehabilated and development bank
    Correct
    Wrong
  • 4
    None of these.
    Correct
    Wrong
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Answer : 1. "International Bank for Reconstruction and development"
Explanation :

The "World Bank" is also referred to as simply the "World Bank." While its full name is the "International Bank for Reconstruction and Development (IBRD)," the term "World Bank" is commonly used to refer to this international financial institution.

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