Economics Quiz

Often we see that some questions related to Indian Economics are always asked in examinations conducted by SSC. The main objective of these questions is to test the candidate's knowledge in the subject. So here we are asking you some questions in the form of quiz to enhance your knowledge.

1) What is the effect of Deficit financing?

a) Deflation

b) Recession

c) Inflation

d) Depression

2) The Slack Season in the Indian Economy is?

a) Feb - Apr

b) Mar - Apr

c) Jan - June

d) Sep - Dec

3) Development expenditure of the Central government does not include?

a) Expenditure on economic services

b) Defence expenditure

c) Grant to states

d) Expenditure on social and community services

4) "The Board of Financial Supervision " was constituted to have mandate over

a) Only commercial banks

b) Only financial institutions

c) Only non - banking financial companies

d) All of these

5) The balance of the payments deficit in India can be eased by

a) conserving the foreign exchange reserves

b) promotion of exports

c) liberalisation of imports

d) export promotion and import substitution

6) What was the main objective of Green Revolution in India ?

a) To increase the extent of cash crop cultivation

b) To increase the area of green forests under social forestry scheme

c) Modernisation of agriculture through science and technology

d) To introduce the Japanese method of paddy cultivation

7) During which Plan period did agricultural production register a negative growth?

a) First

b) Second

c) Third

d) Fourth

8) The modern economy is not characterised by?

a) Production for market

b) Capital intensive mode of production

c) Development of money economy

d) Self-sufficient village system

9) Recession is that economic state of a country when there is

a) accumulation of unsold stocks

b) slump in trade and industry

c) fall in consumer demand

d) All the above

10) India opted for 'Mixed Economy' in?

a) First Five Year Plan

b) Second Five Year Plan

c) Industrial Policy of 1948

d) Framing of the Constitution

11) Name the two PSUs, which were granted the Maharatna status by the Union Government of India in 2013?

a) ONGC and Gail

b) NTPC and BHEL

c) BHEL and GAIL

d) ONGC and NTPC

12) Match the following PSUs with the status granted to them?

i. Coal India Limited                               a. Navratna

ii. Hindustan Aeronautics Limited          b. Miniratna Category I

iii. Bharat Sanchar Nigam Limited     c. Miniratna Category I

iv. RITES Limited                                   d. Maharatana

a) i&d, ii&a, iii&b and iv&c

b) i&c, ii&a, iii&b and iv&d

c) i&d, ii&b, iii&a and iv&c

d) i&a, ii&d, iii&c and iv&c

13) Rajasthan Royals was penalized with a fine amount of around 100 crore Rupees for violating the Forex laws in February 2013. Name the body that slapped the fine on the IPL team?

a) BCCI

b) Competition Commission of India

c) Enforcement Directorate 

d) None of these

14) The income tax in India is

a) indirect and progressive

b) diret and proportional

c) direct and progressive

d) indirect and proportional

15) The principal sources of revenue to the State Government in India is

a) Income Tax

b) Sales Tax

c)State Excise Duties

d) Land Revenue

16) Which two of the following nationlised banks have been merged as per the recommendation of the Narasimhan Committee ?

a) New Bank of India and Bank of India

b) Central Bank of India and Corporation Bank

c) Parur Bank of India and Bank of India

d) Punjab National Bank and New Bank of India

17) Open market operations of a Central Bank are sale and purchase of

a) Foreign currencies

b) corporate securities

c) trade bills

d) government securities

18) Indias Economic Summit was held in December 1999, in

a) Mumbai

b) New Delhi

c) Chennai

d) Bangalore

19) Among Indian Economics who had done pioneering work on National Income ?

a) P.N. Dhar

b) Jagdish Bhagwati

c) V. K. R. V. Rao

d) Prof. Shenoi

20) .The ""Garibi Hatao"" slogan was coined in

a) 1958

b) 1966

c) 1971

d) 1980

Answers:

01) c
02) c
03) b
04) d
05) d
06) c
07) c
08) d
09) d
10) c
11) c
12) a
13) c
14) c
15) b
16) d
17) d
18) b
19) c
20) c