Indian Economy Practice Question and Answer

Q:

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

836 0

  • 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:

As per the recommendations of the National Statistical Commission, the Base Year of the GDP Series in India was revised from 2004-05 to ______ with effect from January 2015.

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  • 1
    2011-12
    Correct
    Wrong
  • 2
    2013-14
    Correct
    Wrong
  • 3
    2005-06
    Correct
    Wrong
  • 4
    2009-10
    Correct
    Wrong
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Answer : 1. "2011-12"
Explanation :

1. From January 2015, as per the recommendations of the National Statistical Commission, the GDP in India The base year of the (GDP) series was revised from 2004-05 to 2011-12.

Q:

Who is a chairman of 15th Finance Commission of India?

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  • 1
    Nirmala Sitharaman
    Correct
    Wrong
  • 2
    Dr. Ashok Lahiri
    Correct
    Wrong
  • 3
    N. K. Singh
    Correct
    Wrong
  • 4
    Ajay Narayan
    Correct
    Wrong
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Answer : 3. "N. K. Singh "

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:

According to Kenz, the consumption function shows relation between. 

820 0

  • 1
    Total Consumption and Total Population
    Correct
    Wrong
  • 2
    Total Consumption and Normal Price Rate
    Correct
    Wrong
  • 3
    Total Consumption and Total Income
    Correct
    Wrong
  • 4
    Total Consumption and Rate of Interest
    Correct
    Wrong
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Answer : 3. "Total Consumption and Total Income"
Explanation :

Explain: -The Consumption function shows relation between Total Consumption and Total Income. It shows that consumption and income are inversely related

Q:

What is the total stock of money in circulation among the public at a particular point of time called? 

810 0

  • 1
    Money order
    Correct
    Wrong
  • 2
    Money supply
    Correct
    Wrong
  • 3
    Short money
    Correct
    Wrong
  • 4
    Money laundering
    Correct
    Wrong
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Answer : 2. "Money supply "

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:

Which of the following is called the ‘father of white revolution’ in India? 

808 0

  • 1
    Hargovind Khurana
    Correct
    Wrong
  • 2
    V. Kurien
    Correct
    Wrong
  • 3
    M.S. Swaminathan
    Correct
    Wrong
  • 4
    P.K. Sethi
    Correct
    Wrong
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Answer : 2. "V. Kurien"

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