Indian Economy MCQ-236

Indian Economy Practice Test for CivilsPrelims,NDA,WBPSC,IES,IFS Exams



The measure of a worker’s real wage is :

 
 
 
 

Which one of the following forms the largest share of deficit in Govt. of India budget?

 
 
 
 

Gross National Product is less than Gross Domestic Product depending upon whether:

 
 
 
 

One of the following leads to underestimation of national income in India:

1. Inflation
2. Devaluation
3. Non-Monetary consumption
4. Large unorganized sector

Choose correct answer from:

 
 
 
 

Match the following:
A. Fiscal Deficit
B. Budget Deficit
C. Revenue Deficit
D. Primary Deficit
1. Difference between Total Expenditure and total receipts
2. Difference between Revenue Expenditure and Revenue Receipt
3. Difference between Total Expenditure and Total Receipts
4. Difference between Total Expenditure and Revenue Receipts plus non-debt creating capital receipts minus interest payments

ABCD

 
 
 
 

Which of the following schemes was intended to tap the black money?

 
 
 
 

According to the law of demand, when:

 
 
 
 

Which one of the following situations makes a firm most efficient?

 
 
 
 

Octroi is levied and collected by:

 
 
 
 

What is meant by ‘Underwriting’, the term frequently used in financial sector?

 
 
 
 

What is a fiscal deficit?

 
 
 
 

Which one of the following organizations/ agencies’ are involved in drafting the Union Budget of India?

 
 
 
 

The highest weight in the revised Whole Sale Price Index, implemented from September 2010 is given to which of the following item?

 
 
 
 

Which one of the following is the updated base for Wholesale Price Index (WPI) ?

 
 
 
 

Under increasing returns the supply curve is

 
 
 
 

Consider the following statements relating to estimation of National Income :
1. Foreigners working in Indian Embassies are normal residents of India.
2. Foreigners working in the office of WHO, World Bank. UNO etc. located in India are not normal residents of India.
3. Indians working in foreign embassies in India are not normal residents of India.

Which of the statements given above is/are correct?

 
 
 
 

Consider the following items of wholesale price index:
1. Primary articles
2. Fuel, power, lights and lubricants
3. Manufacturing products

Arrange the above items in descending order in terms of their Weightage in calculating wholesale price index

 
 
 
 

When the Reserve Bank of India announces an increase of the Cash Reserve ‘Ratio, what does it mean?

 
 
 
 

In India, the tax proceeds of which one of the following as a percentage of gross tax revenue has significantly declined in the last five years?

 
 
 
 

Consider the following statements:

In India, taxes on transactions in Stock Exchanges and Futures Markets are
1. levied by the Union
2. collected by the States
Which of the statements given above is/are correct?

 
 
 
 

With reference to Indian economy, consider the following statements:
1. The Gross Domestic Product (GDP) has increased by four times in the last 10 years.
2. The percentage share of Public Sector in GDP has declined in the last 10 years.
Which of the statements given above is/are correct?

 
 
 
 

Which of the following statements is/are correct?

1. If a country is experiencing increase in its per capita GDP, its GDP must necessarily be growing.
2. If a country is experiencing negative inflation, its GDP must be decreasing.

Select the correct answer using the code given below:

 
 
 
 

National income ignores

 
 
 
 

An individual’s actual standard of living can be assessed by

 
 
 
 

Consider the following statements about Sinking Fund:

1. It is a method of repayment of public debt.
2. It is created by the government out of budgetary revenues every year.

Which of the statements given above is/are correct?