Economic MCQ Questions with answers

81) What is the full form of the given acronym REC?

82) FDI in Multi-Brand Retail Trade (MBRT) in all products is now permitted in India subject to
1.promotion of free trade and resource flows across countries
2.protection of intellectual property rights
3.managing balanced trade between different countries
4.promotion of trade betwen the former East Bloc countries and the Western World

83) Which of the following is/are the functions of the National Development Council of India?
1.Separation of provincial budgets from the central budget for the first time
2.Introduction of portfolio system in the Executive
3.Establishment of a Federal public service commission Which of the systems given above is correct:

84) The maximum revenue source of village panchayats is

85) Which of following are reasons for India's twin balance sheet problem?
1.Under Containment scenario, Economy grows with improvement in cash flows to stressed companies so that they can service debts
2.Under Phoenix scenario, NPAs are limited to a small proportion of the GDP and GDP growth is increased. In this way problem is not solved but fades in importance 
Identify the correct statements: Codes:

86) What is land ceiling?

87) Why is the offering of 'teaser loans'' by commercial banks a cause of economic concern?
1.The teaser loans are considered to be an aspect of sub-prime lending and banks may be exposed to the risk of defaulters in future.
2.In India, the teaser loans are mostly given to inexperienced entrepreneurs to set up manufacturing or export units. 
Which of the statements given above is/are correct?

88) Micro-economics is also called :

89) Demand in Economics means :

90) A hammer in the hands of a house-wife is a ______good.