MCQOPTIONS
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MCQOPTIONS
This section includes 115 Mcqs, each offering curated multiple-choice questions to sharpen your GK knowledge and support exam preparation. Choose a topic below to get started.
| 1. |
In a cut motion, when the amount of demand is reduced by Rs 100/- , it is known as |
| A. | Disapproval of policy cut |
| B. | Economy cut |
| C. | Vote on Account |
| D. | Token cut |
| Answer» E. | |
| 2. |
Unemployment that arises when there is a general downturn in business activity is known as |
| A. | Structural unemployment |
| B. | Frictional unemployment |
| C. | Cyclical unemployment |
| D. | Disguised unemployment |
| Answer» D. Disguised unemployment | |
| 3. |
FEMA (Foreign Exchange Management Act) was finally implemented in the year_____. |
| A. | 1991 |
| B. | 1997 |
| C. | 2002 |
| D. | 2007 |
| Answer» D. 2007 | |
| 4. |
Who among the following formulates the monetary policy in India? |
| A. | Finance Commission of India |
| B. | Reserve Bank of India |
| C. | NITI Aayog |
| D. | The Ministry of Statistics and Programme Implementation |
| Answer» C. NITI Aayog | |
| 5. |
_____ is the primary sector of the Indian economy. |
| A. | Banking |
| B. | Information and Technology |
| C. | Agriculture |
| D. | Judiciary |
| Answer» D. Judiciary | |
| 6. |
Which state has bagged the top position under the Pradhan Mantri Surakshit Matritav Abhiyan (PMSMA)? |
| A. | Odisha |
| B. | West Bengal |
| C. | Himachal Pradesh |
| D. | Assam |
| E. | Gujarat |
| Answer» D. Assam | |
| 7. |
Which of the following Economic survey was also famous as Pink Economic survey? |
| A. | Economic survey 2015-16 |
| B. | Economic survey 2016-17 |
| C. | Economic survey 2017-18 |
| D. | Economic survey 2019-2020 |
| Answer» D. Economic survey 2019-2020 | |
| 8. |
In which year was The Reserve Bank of India was established? |
| A. | 1950 |
| B. | 1947 |
| C. | 1935 |
| D. | 1952 |
| Answer» D. 1952 | |
| 9. |
Which is one of the factors of subsistence used to measure the Poverty Line in India? |
| A. | Equality |
| B. | Education |
| C. | Internet |
| D. | Transportation |
| Answer» C. Internet | |
| 10. |
The state which stands first in per capita income is |
| A. | Bihar |
| B. | Maharashtra |
| C. | Punjab |
| D. | Kerala |
| Answer» C. Punjab | |
| 11. |
India's first - ever national police museum will establish in which city? |
| A. | Nagpur |
| B. | Kolkata |
| C. | Chennai |
| D. | Delhi |
| Answer» E. | |
| 12. |
The leading state in Cement production in India is- |
| A. | Andhra Pradesh |
| B. | Tamil Nadu |
| C. | Madhya Pradesh |
| D. | Rajasthan |
| Answer» E. | |
| 13. |
A ____________ occurs when a government's total expenditures exceed the revenue that it generates, excluding money from borrowings. |
| A. | Current Account Deficit |
| B. | Budgetary Deficit |
| C. | Revenue Deficit |
| D. | Fiscal Deficit |
| Answer» E. | |
| 14. |
What does the Lorenz Curve indicate? |
| A. | Relationship between the price of a certain commodity and its demand |
| B. | Income distribution |
| C. | Rate of employment |
| D. | Taxable income elasticity |
| Answer» C. Rate of employment | |
| 15. |
Which of the following is a better measurement of Economic Development? |
| A. | NNP |
| B. | Per capita income |
| C. | GDP |
| D. | Disposable income |
| Answer» B. Per capita income | |
| 16. |
Foreign currency which has a tendency of quick migration is called - |
| A. | Gold currency |
| B. | Hot currency |
| C. | Scarce currency |
| D. | Soft currency |
| Answer» C. Scarce currency | |
| 17. |
Who among the following is India s Largest employer? |
| A. | Reliance Industries |
| B. | Tata group |
| C. | Indian Railways |
| D. | Steel Authority of India |
| Answer» D. Steel Authority of India | |
| 18. |
The head of the Reserve Bank of India is Called: |
| A. | Secretly |
| B. | Chairperson |
| C. | Governor |
| D. | Field Marshal |
| Answer» D. Field Marshal | |
| 19. |
The major route of exports and imports is: |
| A. | Roads |
| B. | Railways |
| C. | Airports |
| D. | Ports |
| Answer» E. | |
| 20. |
India is Largest exporter of |
| A. | Granite |
| B. | Textile |
| C. | Toys |
| D. | Software |
| Answer» C. Toys | |
| 21. |
Expand the abbreviation of SEZ: |
| A. | Special Export Zone |
| B. | Special Economic Zone |
| C. | Special Exemption Zone |
| D. | Separate Export Zone |
| Answer» C. Special Exemption Zone | |
| 22. |
The person responsible for milk revolution in India is: |
| A. | Dr. Kurian |
| B. | Dr. Pandyan |
| C. | Dr. Madhavan |
| D. | Dr. Pant |
| Answer» B. Dr. Pandyan | |
| 23. |
Where is the national center of organic Fertilizer production? |
| A. | Hyderabad |
| B. | Ghaziabad |
| C. | Nellore |
| D. | Dehradun |
| Answer» C. Nellore | |
| 24. |
Where is the Headquarter of NABARD? |
| A. | Delhi |
| B. | Kolkata |
| C. | Chandigarh |
| D. | Mumbai |
| Answer» E. | |
| 25. |
How much maternity benefits will be given to the pregnant mothers under the National Food Security Bill? |
| A. | Rs. 5000/year |
| B. | Rs.3000/year |
| C. | Rs.6000/year |
| D. | Rs.4000/year |
| Answer» D. Rs.4000/year | |
| 26. |
COPRA is a_______ |
| A. | Credit Rationing Scheme |
| B. | Mega city scheme |
| C. | Consumer protection Act |
| D. | Domestic Trade protection measure |
| Answer» D. Domestic Trade protection measure | |
| 27. |
Values of total goods and services produced in a country is its _____. |
| A. | Gross Revenue Income |
| B. | Gross Domestic Product |
| C. | Total Goods Revenue |
| D. | Total Income |
| Answer» C. Total Goods Revenue | |
| 28. |
Stagflation is defined as |
| A. | high inflation, low growth, high unemployment |
| B. | high inflation, low growth, high unemployment |
| C. | high inflation, high growth, high unemployment |
| D. | low inflation, high growth, low unemployment |
| Answer» C. high inflation, high growth, high unemployment | |
| 29. |
In which the following is not directly controlled by RBI? |
| A. | Bank rate |
| B. | Repo rate |
| C. | Base rate |
| D. | Cash Reserve Ratio |
| Answer» D. Cash Reserve Ratio | |
| 30. |
The Micro, Small and Medium Enterprises Development Act was passed in the year ____. |
| A. | 2002 |
| B. | 2006 |
| C. | 2004 |
| D. | 2008 |
| Answer» C. 2004 | |
| 31. |
Raw materials and money in hand are called _____. |
| A. | Human capital |
| B. | Working capital |
| C. | Factors of production |
| D. | None of the above |
| Answer» C. Factors of production | |
| 32. |
___________ unemployment happens when people are not able to find jobs during some months of the year. |
| A. | Disguised |
| B. | Educated |
| C. | Seasonal |
| D. | None of the above |
| Answer» D. None of the above | |
| 33. |
Cause of Inflation is - |
| A. | Increase in money supply |
| B. | Fall in production |
| C. | Increases in money supply and fall in production |
| D. | Decrease in money supply and fall in production |
| Answer» D. Decrease in money supply and fall in production | |
| 34. |
Which of the following is not a state tax? |
| A. | Wealth Tax |
| B. | Excise duty on liquor |
| C. | Sales Tax |
| D. | Professional Tax |
| Answer» B. Excise duty on liquor | |
| 35. |
This personality is known as the Father of Economics. Can you identify him from the given options? |
| A. | J.M. Keynes |
| B. | Adam Smith |
| C. | Abraham Maslow |
| D. | J.K. Galbraith |
| Answer» C. Abraham Maslow | |
| 36. |
Inflation in India is measured on which of the following indexes / indicators? |
| A. | Gross Domestic Product (GDP) |
| B. | Wholesale Price Index (WPI) |
| C. | Cost of Living Index (CLI) |
| D. | Consumer Price Index (CPI) |
| Answer» C. Cost of Living Index (CLI) | |
| 37. |
What is the base year to calculate the National income in India? |
| A. | 2004-05 |
| B. | 2010-11 |
| C. | 2014-15 |
| D. | 2011-12 |
| Answer» E. | |
| 38. |
Which among the following formulates fiscal policy? |
| A. | RBI |
| B. | Finance Ministry |
| C. | SEBI |
| D. | Planning Commission |
| Answer» B. Finance Ministry | |
| 39. |
Economic survey is published by |
| A. | Ministry of Finance |
| B. | Planning commission |
| C. | Government of India |
| D. | Indian Statistical Institute |
| Answer» B. Planning commission | |
| 40. |
What is the accounting year period of Reserve Bank of India? |
| A. | April to March |
| B. | July to June |
| C. | January to December |
| D. | August to July |
| Answer» C. January to December | |
| 41. |
At present, what kind of unemployment problem remains a very serious problem in the country? |
| A. | Rural unemployment |
| B. | Urban unemployment |
| C. | Educated unemployment |
| D. | Open unemployment |
| Answer» D. Open unemployment | |
| 42. |
Which of the following region contributes most to India's GDP? |
| A. | primary sector |
| B. | Secondary sector |
| C. | Tertiary sector |
| D. | None of these |
| Answer» D. None of these | |
| 43. |
In Economics, buying an asset in one market and simultaneously selling an identical asset in another market at a higher price is termed as ____________. |
| A. | Depreciation |
| B. | Mortgage |
| C. | Devaluation |
| D. | Arbitrage |
| Answer» E. | |
| 44. |
Which curve shows the inverse relationship between unemployment and inflation rates? |
| A. | Phillips curve |
| B. | Indifference curve |
| C. | IS curve |
| D. | Supply curve |
| Answer» B. Indifference curve | |
| 45. |
Process making of bricks by using soil comes under which sector of economic activity? |
| A. | Tertiary sector |
| B. | Primary sector |
| C. | Secondary sector |
| D. | None of these |
| Answer» D. None of these | |
| 46. |
An area which supports the economy and export trade of a sea port is called its ______. |
| A. | Trade land |
| B. | Hinter land |
| C. | Import land |
| D. | Export land |
| Answer» C. Import land | |
| 47. |
The process of curing inflation by reducing money supply is called |
| A. | Cost - push inflation |
| B. | Demand - pull inflation |
| C. | Disinflation |
| D. | Reflation |
| Answer» D. Reflation | |
| 48. |
What is the demand for labor called? |
| A. | Market demand |
| B. | Direct demand |
| C. | Derived demand |
| D. | Factory demand |
| Answer» D. Factory demand | |
| 49. |
Price theory is also known as |
| A. | Macro Economics |
| B. | Development Economics |
| C. | Public Economics |
| D. | Micro Economics |
| Answer» E. | |
| 50. |
Which of the statements is correct about India's national income? |
| A. | Percentage share of agriculture is higher than services |
| B. | Percentage share of industry is higher than agriculture |
| C. | Percentage share of services is higher than industry |
| D. | Percentage share of services is higher than agriculture and industry put together |
| Answer» E. | |