

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. | |