Explore topic-wise MCQs in GK.

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.