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Economics Questions and Answers
Economics Questions Answers section provides important Economics MCQ for students and candidates preparing for competitive exams such as UPSC, SSC, Railway, Banking, and various state-level government exams. These Economics multiple choice questions cover important topics including inflation, banking system, taxation, national income, economic reforms, RBI, fiscal policy, Five-Year Plans, and other economic concepts frequently asked in exams. Each question includes multiple options along with the correct answer to help candidates improve their preparation and general knowledge. Regular practice of Economics GK questions can help increase accuracy, speed, and confidence in objective type examinations. These Economics MCQ are also useful for quiz competitions, academic tests, interviews, and self-assessment. Students preparing for banking exams and government recruitment exams can use this collection to strengthen their understanding of basic and advanced Economics topics in a simple and effective way.
Which one of the following was the Eighth Five-Year Plan period in India?
1990-1995
1992-1997
1993-1998
1994-1999
Which of the following is called a Banker’s Cheque?
Demand Draft
Debit Card
Fixed Deposit
Credit Card
Which two of the following taxes are indirect taxes?
Sales-tax and Income-tax
Income-tax and Wealth-tax
Sales-tax and Excise duty
Income-tax and Excise duty
Per capita income of a country is derived from —
Population
National income
National income and Population
None of these
What is dual pricing?
Wholesale price and retail pricing
Pricing by agents and pricing by retailers
Price fixed by Government and price in open market
Daily prices and weekly prices
Which of the following carries out 'Open Market Operations'?
Finance Ministry
External Affairs Ministry
Reserve Bank of India
Planning Commission
A community's stock of wealth is accounted for by the
aggregate of capital and consumer goods
gross investment minus depreciation
standard of living of the people
net increase in invisible and intangibel goods
Which one of the following situations makes a firm most efficient?
Falling average costs
Rising average costs
Constant average costs
Lowest average costs
A steady increase in the general level of prices as a result of excessive increase in aggregate demand as compared to aggregate supply is termed as
demand—pull inflation
cost—push inflation
stagflation
structural inflation
After the initiation of economic reforms in 1991-92, the percentage share of
direct taxes increased and that of indirect taxes decreased in gross tax revenue
both direct and indirect taxes increased in gross tax revenue
both direct and indirect taxes
direct taxes decreased and that of indirect taxes increased in gross tax revenue
Which one of the following is NOT the function of Disinvestment Commission as far as the public sector units are concerned?
To recommend the mode of disinvestment
To devise a successful programme of disinvestment
To recommend measures to protect workers affected by disinvestment
To recommend a suitable price policy
Consider the following events:
1. Conversion of Imperial Bank of India into SBI
2. Establishment of NABARD
3. Setting up of RRBs.
4. Nationalisation of RBI
The correct chronological sequence of these events is
4, 1, 2, 3
4, 1, 3, 2
1, 4, 3, 2
1, 4, 2, 3
Match List I with List II and select the correct answer using the codes given below the Lists:
List I (Organisations)
(a) Central Statistical Organisation
(b) National Development Council
(c) Planning Boards
(d) Reserve Bank of India
List II (Functions)
1. Decentralisation of Planning
2. Computation of National Income
3. Finalisation of Five Year Plans
4. Credit Creation
a-3, b-4, c-1, d-2
a-4, b-3, c-1, d-2
a-1, b-3, c-4, d-2
a-2, b-3, c-1, d-4
Match List I with List II and select the correct answer using the codes given below the Lists:
List I
(a) TRIPS
(b) SLR
(c) SEBI
(d) NAFTA
List II
1. World Trade Organisation
2. Public Issues
3. International Monetary Fund
4. Reserve Bank of India
5. USA and Canada
a-1, b-4, c-2, d-5
a-1, b-4, c-3, d-5
a-4, b-1, c-2, d-5
a-4, b-1, c-2, d-3
The density of population in India, per sq km, according to the Census, 2001 is —
304
324
344
364
The 'Samman Scheme' announced in 1998 by the Government of India is related to
Housing
Income Tax
Life Insurance
Postal Savings
Who was the Chairman of the 11th Finance Commission of India?
Manmohan Singh
R.K. Hegde
K.C. Pant
A.M. Khusro
Which bank has been established in China by BRICS countries?
New Industrial Development Bank
New Agricultural Development Bank
New Development Bank
New Commercial Bank
The target to reduce Infant Mortality Rate (IMR) during eleventh plan period was kept at—
27 per 1000 live birth
28 per 1000 live birth
29 per 1000 live birth
30 per 1000 live birth
Which among the following is not a parameter for estimating Global Gender Gap Index of World Economic Forum?
Health
Education
Economy
Leisure