10 Important Economic MCQs for most of the Competitive Exams
Que 1: Monetary policy in India is formulated by
(A) RBI
(B) SEBI
(C) CLB
(D) Finance Ministry
Correct Ans: A
Que 2: The reserves held by Commercial Banks over and above the statutory minimum, with the RBI are called
(A) Cash reserves
(B) Deposit reserves
(C) Excess reserves
(D) Momentary reserves
Correct Ans: C
Que 3: The Census of Indian agriculture is done by–
(A) Production Method
(B) Income Method
(C) Expenditure Method
(D) Consumption Method
Correct Ans: A
Que 4: The First Income Committee was established in–
(A) 1948
(B) 1949
(C) 1950
(D) 1951
Correct Ans: B
Que 5: The Central Statistical Organisation (CSO) provides data under a new revised series in which the base year is taken as–
(A) 1960-61
(B) 1970-71
(C) 2011-12
(D) 1990-91
Correct Ans: C
Que 6: Depreciation is equal to–
(A) GNP – NNP
(B) NNP – GNP
(C) GNP – Personal Income
(D) Personal Income – Personal Taxes
Correct Ans: A
Que 7: National Income include–
(A) Financial help to earthquake victims
(B) Poket money of a child
(C) Winning of a lottery Prize
(D) Construction of a new House
Correct Ans: D
Que 8: Other name of Net National Product at market price?
(A) National Income
(B) Gross Domestic Production
(C) Personal Income
(D) Per Capital Income
Correct Ans: A
Que 9: Compared to rich the poors saving is–
(A) A larger part of their income
(B) An equal part of their income
(C) A small part of their income
(D) All of their incomes
Correct Ans: C
Que 10: One of the main factors that led to rapid expansion of Indian exports is
(A) Imposition of export duty
(B) Liberalization of the economy
(C) Recession in other countries
(D) Diversification of exports
Correct Ans: B
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