Economy

1) According to the 2011 Census the population of India is:

a) 1 Billion 21 Core

b) 1 Billion 2 Core

c) 1 Billion 2 Core 7 Lakh

d) 1 Billion

2) What is the approximate density of population in India?

a) 273

b) 382

c) 416

d) 216

3) The sex ratio (female per thousand males) in India in approximately:

a) 972

b) 963

c) 940

d) 993

4) The annual growth rate of population during the decade 2001 – 2011:

a) 1.64 per cent

b) 1 per cent

c) 2 per cent

d) 3 per cent

5) The principal means of transport of goods in India is:

a) Railways

b) Roadways

c) Inland water ways

d) Airways

6) Which one of the following is the most densely populated state of India?

a) UP

b) Bihar

c) West Bengal

d) Kerala

7) Which of the following states has the highest literacy rate?

a) Kerala

b) Arunachal Pradesh

c) Nagaland

d) Maharashtra

8) Which one of the following Union Territories has the highest literacy rate

a) Pondicherry

b) Daman and Diu

c) Lakshadweep

d) Chandigarh

9) Unemployment in India is due to:

a) Poor manpower planning

b) Population explosion

c) Inappropriate educational system

d) All of the above

10) The policy of family planning was adopted by the government in:

a) 1947

b) 1952

c) 1956

d) 1962

11) Which one of the following measure has been taken to modernize Indian agriculture?

a) Area under irrigation increase

b) High yielding variety seeds

c) Credit and facilities to villages

d) All of the above

12) Seasonal unemployment refers mainly to:

a) Private sector industry

b) Public sector industry

c) Agriculture

d) Banks

13) Open unemployment refers to people:

a) Who are not willing to work

b) Who are willing but do not get work

c) Who leave their job in search of better ones

d) Who have been dismissed because of incorrect practices

14) Which one of the following is not source of revenue of the Union Government?

a) Income Tax

b) Corporation Tax

c) Land revenue

d) Customs duties

15) Bank rate means:

a) The official rate of interest charged by the Central Bank of the country

b) Rate of profit of the banking institutions

c) Interest rate charged by the scheduled banks

d) Interest rate charged by the money lenders

16) Marginal revenue will be zero if the elasticity of demand is:

a) Negative

b) Unity

c) Greater than one

d) Equal to zero

17) The term ‘Market’ in Economics means:

a) A central place

b) Presence of competition

c) Place where goods are stored

d) Shops and superbazars

18) Commercial banking system in India is:

a) Mixed banking

b) Unit banking

c) Branch banking

d) None of the above

19) The gilt edged market in the capital market of India refers to

a) Long term private securities

b) Marketing dealing in existing securities

c) Market for corporate securities

d) Market for government securities

20) Which of the following yields the largest revenue to the government of India?

a) Sales Tax

b) Corporate Tax

c) Income Tax

d) Entertainment Tax

21) Sustainable agriculture means:

a) Self – sufficiency

b) To be able to export and import under WTO noms

c) To utilize land so that its quality remains intact

d) To utilize waste land for agricultural purposes

22) Which one of the following crops is the greatest beneficiary of the Green Revolution in both production and productivity?

a) Jowar

b) Maize

c) Rice

d) Wheat

23) Per capita income means:

a) Average income of the wage earners

b) Income necessary for an individual to meet his daily expenses

c) Total income of the group divided by the number of the people in the group

d) Average income of family

24) The agency estimating the national income of the India is:

a) Planning Commission

b) Ministry of finance

c) RBI

d) CSO

25) The most serious economic problems of India are:

a) Underdevelopment, not poverty

b) Poverty and unemployment

c) Unemployment, not poverty

d) Stagnation, not poverty

26) National product includes goods:

a) Only those consumed by the producers

b) All whether exchanged or not

c) Both exchanged in markets and retained by producers for addition to their stock

d) Only exchanged in markets but not those consumed by producers

27) Marginal utility is

a) Total minus average utility

b) Addition to the utility because of one unit increase in commodity

c) Total utility divided by the number of units

d) Total plus average utility

28) Demand of a commodity mainly depends on:

a) Desire to purchase

b) Power to purchase

c) Tax policy

d) Advertisement

29) Which one of the following is in the state list?

a) Railway Police

b) Corporation Tax

c) Census

d) Economic and Social Planning

30) In a highly developed country the relative contribution of agriculture to Gross Domestic Product is:

a) Relatively high

b) Relatively low

c) The same as that of other sector

d) Zero

31) The credit control operation in India is performed by:

a) Rural Banks

b) Commercial Banks

c) Reserve Bank of India

d) State Bank of India

32) Division of labour is limited by:

a) The number of workers

b) Hours of work

c) Extent of the market

d) Working space

33) The four factors of production are:

a) Land, labour, capital, organization

b) Land, electricity, water, labour

c) Labour, Capital, land, rainfall

d) Labour, climate, land, tools

34) What is main purpose of currency?

a) Currency chest

b) Standard of Postponed Payments

c) Standard of Money

d) Medium of Exchange

35) National Income accounting is the study of the income and expenditure of the entire:

a) Family

b) State

c) Economy

d) Organization

36) The problem of Economics arises from:

a) Plenty of goods

b) Scarcity of goods

c) More wants less goods

d) All of these

37) Agriculture income tax is a source of revenue to:

a) Central Government

b) State Government

c) Local Administration

d) Central and State Government

38) Beyond a certain point, deficit financing will certainly lead to :

a) Inflation

b) Deflation

c) Recession

d) Economic stagnation

39) To achieve economic self reliance was the main objective of which of the following Five Year Plan?

a) Second Plan

b) First Plan

c) Third Plan

d) Fourth Plan

40) The preparation of National Income Estimates is the responsibility of the:

a) Planning Commission

b) National Development Council

c) National Sample Survey

d) Central Statistical Organization

41) Which one of the following is the most sensitive indicator of the health of a community?

a) Birth rate

b) Infant mortality rate

c) Death rate

d) Maternal mortality rate

42) The objectives of Indian Planning are:

a) Increasing national income

b) Reducing inequalities in income and wealth

c) Elimination of poverty

d) All of the above

43) The Gandhian economy was based on the principle of :

a) State control

b) Copetition

c) Trusteeship

d) Rural Cooperation

44) Fiscal policy is concerned with:

a) Public revenue

b) Public Expenditure and debt

c) Bank rate policy

d) Both a and b

45) Devaluation of a currency refers to :

a) Decrease in the internal value of money

b) Decrease in the external value of money

c) Decrease both in the external and internal value of money

d) Government withdrawal of a currency not of a denomination

46) The maternal mortality rates in Asia are the highest in :

a) Bangladesh

b) India

c) Indonesia

d) Nepal

47) To get the Net National Product we deduct what from the Gross National Product?

a) Direct Taxes

b) Imports

c) Interim Payments

d) Loss

48) Protection means

a) Restriction imposed on import trade

b) Protection to home industries

c) No free exchange of goods and services between two countries

d) All of these

49) The reserve Bank of India:

a) Provide direct finance to agriculture

b) Provides finance to primary cooperative societies

c) Provides finance to state cooperative banks

d) Does not provide finance to agriculture

50) In which sector of the Indian economy is productivity the highest?

a) Manufacturing

b) Transport, Communication, Commerce

c) Agriculture

d) Other sectors

51) Which of the following is not method of estimating national income?

a) Income method

b) Value added method

c) Expenditure method

d) Export import method

52) Population explosion in a country means:

a) High birth rate and high death rate

b) High birth rate and low death rate

c) Low birth rate and high death rate

d) Low birth rate and Low death rate

53) The measurement of poverty line is based on the criteria of :

a) Their dwelling houses

b) The nature of employment

c) Caloric consumption

d) Level of education

54) Elasticity of demand is a tendency line is based on the criteria of:

a) Increase or decrease on the change of price

b) Increase on the rising of price

c) Decrease on the falling of price

d) Consistency of demand on rising and falling prices

54) Capital is that wealth:

a) Which is used for the production of wealth

b) Which is kept in boxes and lockers

c) Which is buried in the land

d) Which is stored for consumption

55) Function of an entrepreneur is:

a) Organization of labour

b) Collection of capital

c) Showing efficiency in collection of loans from the banks and the market

d) Risk taking

56) The poverty line has been defined in the:

a) Seventh Five Year Plan

b) Sixth Five Year Plan

c) Eighth Five Year Plan

d) Fifth Five Year Plan

57) In Centre and State financial relations in India. The Gadgil Formula is used in:

a) Division of tax revenue

b) Formulating the policy for fresh borrowings

c) Writing off states indebtedness to the Centre

d) Allocating Central Plan assistance between States

58) According to the Reserve Bank of India the term ‘Open Market Operation’ means sale and purchase of:

a) Gold

b) Government securities

c) Iron and steel

d) Foreign exchange

59) Reserve bank of India was established on:

a) January 1, 1934

b) April 1, 1934

c) January 1, 1935

d) April 1, 1935

60) What is India’s trade policy?

a) Increase in both exports and imports

b) Decrease in both exports and imports

c) Neither increase nor decrease in both imports and exports

d) Exports promotion and import substitution

61) The Center gives grants in aid to states:

a) To augment the financial resources of the states

b) To maintain god relations with the state

c) To ensure balanced and quick economic growth throughout the country

d) To ensure social justice in India

62) Mixed economy means co-existence of:

a) Heavy industries and light industries

b) Agrarian economy and industrialized economy

c) The poor and the rich

d) Public sector and private sector

63) The largest shares of Indian’s National income originated in the :

a) Primary sector

b) Secondary sector

c) Territory sector

d) None of the above

64) Which one of the following taxes is levied by the state Government only?

a) Entertainment tax

b) Wealth tax

c) Income tax

d) Corporation tax