MCQOPTIONS
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MCQOPTIONS
This section includes 657 Mcqs, each offering curated multiple-choice questions to sharpen your Testing Subject knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
How many District Industries Centres are working in Rajasthan? |
| A. | 36 |
| B. | 33 |
| C. | 31 |
| D. | 29 |
| Answer» B. 33 | |
| 2. |
India has been constantly negotiating for an expansion in the trade in services via Mode 4 as defined under the General Agreement on Trade in Services (GATS). Consider the following pairings regarding different modes of Services under GATS of the WTO:1. Mode 1 : Cross-Border Supply of Services2. Mode 2 : Temporary cross-border movement of a natural person to consume services abroad3. Mode 3 : Cross-border provision of services via the commercial presence of a company in another country4. Mode 4 : Temporary cross-border movement of service providersWhich of the above are correctly paired? |
| A. | Only 1 and 4 |
| B. | Only 2 and 3 |
| C. | Only 1, 3 and 4 |
| D. | All of the above |
| Answer» E. | |
| 3. |
How many districts of Uttar Pradesh started the second phase of Mission Indradhanush 2.0 at the block level on 7 January 2020? |
| A. | 25 |
| B. | 30 |
| C. | 35 |
| D. | 40 |
| Answer» D. 40 | |
| 4. |
'Panta Sanjeevani' programme of the Government of Andhra Pradesh is on the |
| A. | Construction of farm ponds |
| B. | Distribution of rain guns |
| C. | Promotion of bio-fertilizers |
| D. | Promotion of organic farming |
| Answer» B. Distribution of rain guns | |
| 5. |
Dr. Urjit Patel, who has been appointed recently as Governor of Reserve Bank of India, was holding which position immediately prior to this appointment? |
| A. | Chief Economist, IMF |
| B. | Deputy Governor, Reserve Bank of India |
| C. | Chief Economic Advisor to the Government of India |
| D. | Professor of Economics at Harvard University |
| Answer» C. Chief Economic Advisor to the Government of India | |
| 6. |
Planning Commission was constituted in India in which year? |
| A. | 1947 |
| B. | 1950 |
| C. | 1949 |
| D. | 1952 |
| Answer» C. 1949 | |
| 7. |
______ was Established on 6th August 1952. |
| A. | Planning Commission |
| B. | National Development Council |
| C. | National Economic Council |
| D. | Planning Council |
| Answer» C. National Economic Council | |
| 8. |
How many private commercial banks were nationalism in 1969? |
| A. | 12 |
| B. | 13 |
| C. | 14 |
| D. | 15 |
| Answer» D. 15 | |
| 9. |
CAMPA means |
| A. | Jharkhand Compensatory Afforestation Fund Management and Planning Authority |
| B. | Jharkhand Counter Afforestation Fund Management and Policy Authority |
| C. | Jharkhand Compensation Association Fund Management and Planning Authority |
| D. | None of the above |
| Answer» B. Jharkhand Counter Afforestation Fund Management and Policy Authority | |
| 10. |
PAN is a (an) ______ digit unique alphanumeric number issued by the Income Tax Department. |
| A. | 8 |
| B. | 12 |
| C. | 11 |
| D. | 10 |
| Answer» E. | |
| 11. |
Inclusive growth as enunciated in the Eleventh Five Year Plan does not include one of the following: |
| A. | Reduction of poverty |
| B. | Extension of employment opportunities |
| C. | Strengthening of capital market |
| D. | Reduction of gender inequality |
| Answer» D. Reduction of gender inequality | |
| 12. |
Jhum cultivation is a method of cultivation which used to be practiced in- |
| A. | Himachal Pradesh |
| B. | Central Highland |
| C. | Coastal Tamil Nadu |
| D. | Nagaland |
| Answer» E. | |
| 13. |
As per the estimates released by World Bank in June 2020, India's economy is expected to experience contraction of ______ during the fiscal year 2020-21. |
| A. | 3.2% |
| B. | 2.1% |
| C. | 4.1% |
| D. | 3.7% |
| Answer» B. 2.1% | |
| 14. |
In _________, the short run equilibrium results in quantity produced being lesser and prices being higher compared to perfect competition. |
| A. | Monopsony |
| B. | Monopoly |
| C. | Oligopoly |
| D. | Monopolistic Competition |
| Answer» E. | |
| 15. |
As part of the national income analysis, personal income includes:A. Direct taxesB. Indirect taxesC. DepreciationD. Transfer paymentsE. Exports and importsF. Intermediary goodsChoose the correct answer: |
| A. | A, B and C only |
| B. | B, D and E only |
| C. | A and D only |
| D. | A, C, E and F only |
| Answer» B. B, D and E only | |
| 16. |
Invisible export means export of ________. |
| A. | Services |
| B. | Prohibited Goods |
| C. | Restricted Goods |
| D. | Goods as Per ogl List |
| Answer» B. Prohibited Goods | |
| 17. |
In which year was the first Industrial Policy based on the mixed economy principle announced in India? |
| A. | 1959 |
| B. | 1948 |
| C. | 1950 |
| D. | 1962 |
| Answer» C. 1950 | |
| 18. |
_______denotes a phase in which loans are available at low rates of interest or a policy which creates this situation. |
| A. | Cheap money |
| B. | Value money |
| C. | Dear money |
| D. | Purchase money |
| Answer» B. Value money | |
| 19. |
In perfect competition ________. |
| A. | Products can be similar or different |
| B. | Producer can control price by controlling production |
| C. | Demand curve is perfectly elastic |
| D. | All firms make economic profit in the long run |
| Answer» D. All firms make economic profit in the long run | |
| 20. |
As per Mankiw's Principles of Economics, the standard of living of a country depends on the country's ______. |
| A. | ability to produce goods and services |
| B. | nominal wages |
| C. | government policy |
| D. | average wages |
| Answer» B. nominal wages | |
| 21. |
Devaluation of currency will be more beneficial if prices of ________. |
| A. | Domestic goods remain constant |
| B. | Exports become cheaper to importers |
| C. | Imports remain constant |
| D. | Exports rise proportionately |
| Answer» C. Imports remain constant | |
| 22. |
Foreign investment is known by which name in India? |
| A. | SME (Small and medium-sized enterprises) |
| B. | MDI (Management Development Institute) |
| C. | FDI (Foreign Direct Investment) |
| D. | CII (Confederation of Indian Industry) |
| Answer» D. CII (Confederation of Indian Industry) | |
| 23. |
______ refers to money that has already been spent and which cannot be recovered. |
| A. | Imputed cost |
| B. | Sunk cost |
| C. | Opportunity cost |
| D. | Replacement cost |
| Answer» C. Opportunity cost | |
| 24. |
Participatory Notes (PNs) are associated with which one of the following? |
| A. | Consolidated Fund of India |
| B. | Foreign Institutional Investors |
| C. | United Nations Development Programme |
| D. | Unemployment Related Index |
| Answer» C. United Nations Development Programme | |
| 25. |
Haryana State Labour Policy came into existence in: |
| A. | 2004 |
| B. | 2005 |
| C. | 2006 |
| D. | 2007 |
| Answer» D. 2007 | |
| 26. |
In which year, the Railway Budget and the General Budget were presented separately? |
| A. | 1924 |
| B. | 1947 |
| C. | 1952 |
| D. | 1977 |
| Answer» B. 1947 | |
| 27. |
Demand in Economics means ______. |
| A. | Aggregate demand |
| B. | Market demand |
| C. | Individual demand |
| D. | Demand backed by purchasing power |
| Answer» E. | |
| 28. |
Coup is _____. |
| A. | sudden overthrow of a government illegally |
| B. | a system of rules that takes effect when a military authority takes control of the normal administration of justice |
| C. | territory under the immediate political control of another state |
| D. | None of these |
| Answer» B. a system of rules that takes effect when a military authority takes control of the normal administration of justice | |
| 29. |
From the following data calculate Personal DisposableIncome Items Rs. in crores1 Personal Income 70,0002 Direct taxes 5003 Miscellaneous receipts 800of the Govt. |
| A. | 68,700 crore |
| B. | 69,500 crore |
| C. | 69,200 crore |
| D. | 71,300 crore |
| Answer» B. 69,500 crore | |
| 30. |
As per the Economic Survey 2018-19, what was India's external debt at end-December 2018? |
| A. | US$ 521.1 billion |
| B. | US$ 121.1 billion |
| C. | US$ 221.1 billion |
| D. | US$ 421.1 billion |
| Answer» B. US$ 121.1 billion | |
| 31. |
A country's gross domestic product (GDP) increases during ___ (a) ___ and decreases during ___ (b) ___. |
| A. | (a) buoyancy (b) recession |
| B. | (a) deflation (b) reflation |
| C. | (a) strong (b) weak |
| D. | (A) recession (b) buoyancy |
| Answer» B. (a) deflation (b) reflation | |
| 32. |
__________ says that if we keep increasing the employment of an input, with other inputs fixed, eventually a point will be reached after which the resulting addition to output (i.e., marginal product of that input) will start falling. |
| A. | Law of diminishing marginal product |
| B. | Law of variable proportions |
| C. | The Short Run |
| D. | The Long Run |
| Answer» B. Law of variable proportions | |
| 33. |
Assertion (A): Cost inflation is caused by the shift in the aggregate supply curve.Reason (R): Shift in aggregate supply curve takes place because of the increase in wages. |
| A. | Both (A) and (R) are true and (R) is the correct explanation of (A). |
| B. | Both (A) and (R) are true and (R) is not the correct explanation of (A). |
| C. | (A) is true, but (R) is false. |
| D. | (A) is false, but (R) is true. |
| Answer» B. Both (A) and (R) are true and (R) is not the correct explanation of (A). | |
| 34. |
__________ is the final value of all the finished goods and services produced within a country's borders in a specific time period. |
| A. | Government revenue |
| B. | Gross National Product |
| C. | Gross Domestic Product |
| D. | Net National Product |
| Answer» D. Net National Product | |
| 35. |
A price ceiling below the equilibrium price often leads to __________ |
| A. | Commodity glut |
| B. | Tax burdon on consumer |
| C. | Shortage of the commodity and black marketing |
| D. | Export of commodity |
| Answer» D. Export of commodity | |
| 36. |
Banks were nationalized in India through an ordinance passed in the year: |
| A. | 1976 |
| B. | 1963 |
| C. | 1969 |
| D. | 1954 |
| Answer» D. 1954 | |
| 37. |
J.M. Keynes propounded the theory of: |
| A. | Liquidity Preference |
| B. | Demand |
| C. | Supply |
| D. | Distribution |
| Answer» B. Demand | |
| 38. |
In the context of Indian economy, consider the following statements:1. The growth rate of GDP has steadily increased in the last five years.2. The growth rate in per capita income has steadily increased in the last five years.Which of the statements given above is/are correct? |
| A. | 1 only |
| B. | 2 only |
| C. | Both 1 and 2 |
| D. | Neither 1 nor 2 |
| Answer» E. | |
| 39. |
______ is the mark of quality for all industrial products in India. |
| A. | Agmark |
| B. | ISI |
| C. | FPO |
| D. | Ecomark |
| Answer» C. FPO | |
| 40. |
During which five year plan, the national income growth rate was the lowest? |
| A. | Second plan |
| B. | Third plan |
| C. | Ninth plan |
| D. | Eleventh plan |
| Answer» C. Ninth plan | |
| 41. |
As per Union Budget 2019-20, tax rate has been reduced to ________ for companies with annual turnover up to ₹ 400 crore. |
| A. | 25% |
| B. | 11% |
| C. | 21% |
| D. | 19% |
| Answer» B. 11% | |
| 42. |
In the Ninth Five Year Plan (1997-2002), what is the level of annual family income fixed for BPL in rural areas? |
| A. | Rs. 25,000 |
| B. | Rs. 28,000 |
| C. | Rs. 20,000 |
| D. | Rs. 18,000 |
| Answer» D. Rs. 18,000 | |
| 43. |
In which of the following years was the trade balance favourable to India? |
| A. | 1970-71 and 1974-75 |
| B. | 1972-73 and 1976-77 |
| C. | 1972-73 and 1975-76 |
| D. | 1971-72 and 1976-77 |
| Answer» C. 1972-73 and 1975-76 | |
| 44. |
Consider the following statements:Non-performing assets (NPAs) decline in value when1. Demand revives in the ecnomy.2. Capacity utilization increases.3. Capacity utilization, though substantive, is yet sub-optimal.4. Capacity utilization decreases consequent upon merger of unit.Which of the above statement are correct? |
| A. | 1, 3 and 4 only |
| B. | 1, 2 and 4 only |
| C. | 1, 2 and 3 only |
| D. | 1, 2, 3 and 4 |
| Answer» B. 1, 2 and 4 only | |
| 45. |
As of 2018 who was the CEO of National Culture Fund? |
| A. | Anupam Kher |
| B. | Ramesh Sippy |
| C. | Rahul Nath |
| D. | K L Dhingra |
| Answer» E. | |
| 46. |
Inadequacy in generating resources to sustain the process of economic growth necessitated the New Economic Policy of 1991. The main components of the new policy were:A. LiberalisationB. PrivatisationC. GlobalisationWhich of the above statements is/are correct?Select the code for the correct answer from the options given below: |
| A. | A, B and C |
| B. | A and B only |
| C. | C only |
| D. | A and C only |
| Answer» B. A and B only | |
| 47. |
In Uttar Pradesh the contribution of agriculture in state domestic product in 2011 - 2012 was approximately |
| A. | 14.5% |
| B. | 24.5% |
| C. | 34.5% |
| D. | 44.5% |
| Answer» C. 34.5% | |
| 48. |
Gresham's law comes into operation when: |
| A. | Good money is hoarded |
| B. | Good money is melted |
| C. | Good money is exported |
| D. | Good money is hoarded, melted and exported. |
| Answer» B. Good money is melted | |
| 49. |
Name the transgenic crop in which three genes for synthesis of vitamin A are introduced through the technique of genetic engineering. |
| A. | Kalyan Sona wheat |
| B. | Sweet sorghum |
| C. | Hybrid bajra |
| D. | Golden rice |
| Answer» E. | |
| 50. |
________ is an alternative way of representing the production function. |
| A. | The Short Run |
| B. | The Long Run |
| C. | Isoquant |
| D. | Average product |
| Answer» D. Average product | |