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Indian Economy GK Questions with Answers – Page 18

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Indian Economy multiple choice questions with answers and explanations, 20 per page, for SSC, Banking, UPSC, Railway and state exams.

1127 questions

Indian Economy NotesOnly previous-year questions (580)GK Quiz
Q341.Indian EconomyAsked in: CDS · CDS-II 2023, GKHard

Which of the following action(s) by the Government would lead to contraction of money supply in the economy? 1. Purchase of Treasury Bills by the central bank from public 2. Sale of Treasury Bills by the central bank to public 3. Sale of foreign exchange by the central bank 4. Purchase of foreign exchange by the central bank Select the correct answer using the code given below:

  1. A.1 and 4 only
  2. B.1 and 3 only
  3. C.2 and 3 only
  4. D.2 only
Show answer
Correct answer: C. 2 and 3 only

In both actions the central bank takes rupees from the public in exchange for an asset, so money in circulation falls.

Q343.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2020, GS Paper IMedium

If you withdraw ₹1,00,000 in cash from your Demand Deposit Account at your bank, the immediate effect on aggregate money supply in the economy will be

  1. A.to reduce it by ₹1,00,000
  2. B.to increase it by ₹1,00,000
  3. C.to increase it by more than ₹1,00,000
  4. D.to leave it unchanged
Show answer
Correct answer: D. to leave it unchanged

Withdrawing cash only changes the form in which the money is held; the total stays the same.

Q344.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2024, GS Paper IMedium

With reference to Corporate Social Responsibility (CSR) rules in India, consider the following statements : 1. CSR rules specify that expenditures that benefit the company directly or its employees will not be considered as CSR activities. 2. CSR rules do not specify minimum spending on CSR activities. Which of the statements given above is/are correct ?

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: A. 1 only

CSR spending must benefit society, not the company or its own staff, and the law does set a minimum amount to be spent.

Q345.Indian EconomyAsked in: UPSC Civil Services · CSE Prelims 2024, GS Paper IMedium

With reference to physical capital in Indian economy, consider the following pairs : Items — Category 1. Farmer's plough — Working capital 2. Computer — Fixed capital 3. Yarn used by the weaver — Fixed capital 4. Petrol — Working capital How many of the above pairs are correctly matched?

  1. A.Only one
  2. B.Only two
  3. C.Only three
  4. D.All four
Show answer
Correct answer: B. Only two

Pairs 2 and 4 are correct; pairs 1 and 3 have the categories the wrong way round. Physical capital is split by how long it lasts in production.

Q346.Indian EconomyAsked in: NDA · NDA-II 2024, GATHard

Which among the following statements with regard to Five Year Plans in India is/are correct? 1. The First and Ninth five year plans accorded high priority to agriculture 2. The Third Plan was based on the Harrod-Domar Model 3. Seventh Plan focused on food, work and productivity 4. The Ninth five year plan emphasized on massive investments in public sector Select the answer using the code given below:

  1. A.1 only
  2. B.1 and 3
  3. C.3 and 4
  4. D.1,2 and 4
Show answer
Correct answer: B. 1 and 3

The First and Ninth Plans gave top priority to agriculture, and the Seventh Plan's slogan was food, work and productivity.

Q347.Indian EconomyAsked in: NDA · NDA-II 2024, GATMedium

Which among the following is/are the objective(s) of setting up of Planning Commission in the 1950s in India? 1. To increase production and offering opportunities to all for employment 2. To make assessment of all resources of the country Select the answer using the code given below:

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: C. Both 1 and 2

The Cabinet resolution that set up the Planning Commission in March 1950 named both aims.

Q348.Indian EconomyAsked in: UPSC CAPF · CAPF 2019, Paper IMedium

Which one of the following statements is true with regard to an economy which is on its production possibility frontier?

  1. A.The economy has to sacrifice some production of one commodity in order to increase the production of another commodity
  2. B.There is no limit or constraint for the economy in the production of goods and services
  3. C.The economy can produce more of one commodity up to a point without reducing the production of any other commodity
  4. D.Its production possibility frontier is an upward sloping curve
Show answer
Correct answer: A. The economy has to sacrifice some production of one commodity in order to increase the production of another commodity

On the frontier all resources are fully and efficiently used, so producing more of one good is possible only by giving up some of the other.

Q350.Indian EconomyAsked in: UPSC CAPF · CAPF 2019, Paper IMedium

Which one of the following is an example of a price ceiling?

  1. A.Fares charged by Airlines in India
  2. B.Price printed on biscuit packets
  3. C.Minimum support price for cane growers
  4. D.Minimum wages fixed by state Governments
Show answer
Correct answer: B. Price printed on biscuit packets

The printed maximum retail price is the most a seller may charge, so it works as an upper limit, a price ceiling.

Q351.Indian EconomyAsked in: UPSC CAPF · CAPF 2021, Paper IEasy

On the basis of employment conditions, the economy is divided into

  1. A.organized and unorganized sectors
  2. B.private and public sectors
  3. C.seasonal and disguised sectors
  4. D.primary, secondary and tertiary sectors
Show answer
Correct answer: A. organized and unorganized sectors

The terms of employment, such as regular jobs, fixed hours and legal protection, decide whether work belongs to the organized or the unorganized sector.

Q354.Indian EconomyAsked in: UPSC CAPF · CAPF 2020, Paper IMedium

Which one of the following educational development indicators is currently used by United Nations Development Programme (UNDP) to construct Human Development Index?

  1. A.Level of Literacy
  2. B.Gross Enrolment Ratio
  3. C.Mean Years of Schooling
  4. D.Dropout rate
Show answer
Correct answer: C. Mean Years of Schooling

Since 2010 the UNDP measures the education dimension of the HDI with mean years of schooling and expected years of schooling.

Q355.Indian EconomyAsked in: UPSC CAPF · CAPF 2021, Paper IMedium

For anything to be recognized as money, it needs to have which of the following characteristics? 1. Act as an intermediate in the exchange process 2. Standard unit for quoting prices 3. Must be easily divisible 4. Have higher value in alternative uses Select the correct answer using the code given below.

  1. A.1, 2 and 4
  2. B.2 and 3 only
  3. C.1, 2 and 3
  4. D.1, 3 and 4
Show answer
Correct answer: C. 1, 2 and 3

Money must work as a medium of exchange, serve as a unit of account and be easy to divide; a higher value in other uses is not required.

Q357.Indian EconomyAsked in: CDS · CDS-I 2023, GKMedium

Which of the following strategies is/are adopted for implementing the POSHAN Abhiyaan? 1. Inter-sectoral convergence for better service delivery 2. Use of technology (ICT) for real-time growth monitoring of women and children Select the correct answer using the code given below.

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: C. Both 1 and 2

Convergence of different schemes and the use of ICT for real-time monitoring are both core strategies of POSHAN Abhiyaan. POSHAN Abhiyaan (Prime Minister's Overarching Scheme for Holistic Nourishment), also called the National Nutrition Mission, was launched on 8 March 2018 at Jhunjhunu in Rajasthan.

Q358.Indian EconomyAsked in: CDS · CDS-II 2019, GKEasy

Which of the following statements with regard to the 'Make in India' initiative is/are correct ? 1. It was launched in the year 2018. 2. Its objective is to foster innovation. Select the correct answer using the code given below:

  1. A.1 only
  2. B.2 only
  3. C.Both 1 and 2
  4. D.Neither 1 nor 2
Show answer
Correct answer: B. 2 only

Make in India was launched in 2014, not 2018, and fostering innovation is one of its stated objectives. Prime Minister Narendra Modi launched Make in India on 25 September 2014 to turn India into a global hub for design and manufacturing.

Q359.Indian EconomyAsked in: CDS · CDS-I 2023, GKHard

Which of the following is/are the sub-mission/sub-missions of the National Skill Development Mission (NSDM)? 1. Institutional training 2. Overseas employment 3. Leveraging of public infrastructure Select the correct answer using the code given below.

  1. A.1 only
  2. B.2 only
  3. C.1, 2 and 3
  4. D.2 and 3 only
Show answer
Correct answer: C. 1, 2 and 3

Institutional training, overseas employment and leveraging of public infrastructure are all sub-missions of the National Skill Development Mission.

Q360.Indian EconomyAsked in: UPSC CAPF · CAPF 2017, Paper IEasy

To which of the following sectors of the economy, the activity of agriculture and services belong to?

  1. A.Primary and Tertiary respectively
  2. B.Primary and Secondary respectively
  3. C.Tertiary and Secondary respectively
  4. D.Secondary and Quaternary respectively
Show answer
Correct answer: A. Primary and Tertiary respectively

Agriculture uses natural resources directly, and services are the tertiary sector. Economic activities are grouped into three main sectors.