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Indian Economy Online Quiz
Following quiz provides Multiple Choice Questions (MCQs) related to Indian Economy. You will have to read all the given answers and click over the correct answer. If you are not sure about the answer then you can check the answer using Show Answer button. You can use Next Quiz button to check new set of questions in the quiz.
Q 1 - Consider the following statements:
1. The branch of Social Science that deals with the production, consumption, trade, and balance of payment is known as economy.
2. The state of a nation or region related to production and consumption of goods and circulation of money is known as economics.
Choose the correct statements from the codes given below:
Answer : D
Explanation
The branch of Social Science that deals with the production, consumption, trade, and balance of payment is known as economics.
The state of a nation or region related to production and consumption of goods and circulation of money is known as economy.
Q 2 - What is the limit of Foreign Direct Investment (FDI) in the sector of Private Security Agencies?
Answer : B
Explanation
N/A
Q 3 - The slogan from each according to his ability, to each according to his work was popularized by
Answer : B
Explanation
N/A
Q 4 - Consider the following statements:
1. The great businessman and economist David Ricardo was born in London, UK.
2. Ricardo has given the theory of rent and diminishing returns.
Choose the correct answer from the codes given below:
Answer : C
Explanation
Born in 1772, Ricardo was not much educated.
Q 5 - Venkatappaiah Committee is related to
A - Establishment of a new stock exchange
B - All India Rural Credit Review
Answer : B
Explanation
N/A
Q 6 - Karve Committee is related to
Answer : C
Explanation
The committee was constituted in 1955.
Q 7 - In reference to HDI, which among the following countries stands first?
Answer : A
Explanation
N/A
Q 8 - Rupnarainpur is known for
Answer : C
Explanation
Located in West Bengal, Rupnarainpur is popular as Hindustan Cables town.
Q 9 - Godwala Committee is related to
Answer : B
Explanation
N/A
Q 10 - Consider the following statements:
1. The Reserve Bank of India was set up under the Reserve Bank of India Act, 1934.
2. The Reserve Bank of India was nationalized on January 1, 1952.
Choose the correct answer from the codes given below:
Answer : A
Explanation
The Reserve Bank of India was nationalized on January 1, 1949.
Q 11 - What is the limit of Foreign Direct Investment (FDI) in the sector of Real Estate Business or Construction of Farm Houses (in India)?
Answer : D
Explanation
No FDI is allowed.
Q 12 - The Intensive Agriculture Area Program (IAAP) was implemented in
Answer : C
Explanation
Under the IAAP, emphasis is given on the special harvesting.
Answer : D
Explanation
N/A
Q 14 - Consider the following statements:
1. Competition depends on some rules and regulations as guidelines so as an economic system is required.
2. An economic system comprises of many sets of rules, institutions, laws, values, and decision-making agents with the main of optimum allocation, distribution, growth, and stability.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Q 15 - The Integrated Rural Development Program (IRDP) was introduced in
Answer : C
Explanation
The objective of IRDP is all round development of the rural poor.
Q 16 - Which among the following provides soft loan to poor countries?
Answer : B
Explanation
IDA stands for International Development Association; its headquarters is located in Washington DC.
Q 17 - Consider the following statements:
1. The National Goods Policy has passed with the objective to increase the production of capital goods from Rs.2,30,000 crores in 2014-15 to Rs.7,50,000 crores in 2025.
2. The policy has also objective to raise the direct and indirect employment from the current 8.4 million to 30 million.
Choose the correct answer from the codes given below:
Answer : C
Explanation
N/A
Q 18 - Which among the following correctively defines the term normative economics?
Answer : A
Explanation
Normative economics describes what the outcome of the economy or objectives of public policy ought to be.
Q 19 - Which among the following schemes ensures the food security to the poor?
A - Swarna Jayanti Anna Yojana (SJAY)
B - Jawahar Gram Anna Yojana (JGAY)
Answer : D
Explanation
AAY has been implemented in 2000.
Q 20 - Which among the following schemes promotes self-employment?
A - Swarna Jayanti Gram Swarozgar Yojana (SJGSY)
B - Jawahar Gram Swarozgar Yojana (JGSY)
Answer : A
Explanation
SJGSY has been implemented in 1999.