Indian Economy Practice Question and Answer

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:

The Human Development Index is attributed to which economist?

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

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 term “Micro Economics” and “Macro Economics” was coined by–

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  • 1
    Alfred Marshal
    Correct
    Wrong
  • 2
    Ragner Nurkse
    Correct
    Wrong
  • 3
    Ragner Frisch
    Correct
    Wrong
  • 4
    J.M. Keynes
    Correct
    Wrong
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Answer : 3. "Ragner Frisch "
Explanation :

Explain: -The difference between micro and macro economics is simple. Microeconomics is the study of economics at an individual, group or company level. Macroeconomics, on the other hand, is the study of a national economy as a whole. Microeconomics focuses on issues that affect individuals and companies

Q:

Which of the following is not a function of currency?

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  • 1
    Measurement of value
    Correct
    Wrong
  • 2
    accumulation of value
    Correct
    Wrong
  • 3
    transfer of value
    Correct
    Wrong
  • 4
    stabilization of price
    Correct
    Wrong
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Answer : 4. "stabilization of price"

Q:

Where is the National Institute of Rural Development located?

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  • 1
    Hyderabad
    Correct
    Wrong
  • 2
    Patna
    Correct
    Wrong
  • 3
    New Delhi
    Correct
    Wrong
  • 4
    Shimla
    Correct
    Wrong
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Answer : 1. "Hyderabad"

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