Which of the following is not a method of estimating national income? (A) Income Method (B) Output Method (C) Expenditure Method (D) Investment Method Answer: (D)
The concept of economic growth is based on – (A) Increase in savings (B) Increase in national income (C) Price rise (D) None of the above Answer: (B)
Which of the following is a component of Gross Domestic Product at factor cost? (A) Indirect taxes (B) Net exports (C) Compensation to employees (D) Capital receipts Answer: (C)
Which of the following is not included in the calculation of GDP? (A) Services of a doctor (B) Sale of used car (C) Tuition fees paid to a tutor (D) Salary of a teacher Answer: (B)
Which among the following is not a qualitative credit control method? (A) Rationing of credit (B) Moral suasion (C) Open market operations (D) Regulation of consumer credit Answer: (C)
The inflation rate in India is measured by – (A) Consumer Price Index (CPI) (B) Wholesale Price Index (WPI) (C) GDP Deflator (D) Producer Price Index (PPI) Answer: (A)
Which Five-Year Plan is also called the ‘Rolling Plan’? (A) Fifth (B) Sixth (C) Seventh (D) None of these Answer: (A)
Which sector contributes the most to India’s GDP in recent years? (A) Agriculture (B) Industry (C) Services (D) Construction Answer: (C)
Which of the following taxes is levied by the Central Government and collected by both Centre and States? (A) GST (B) Corporate tax (C) Excise duty (D) Income tax Answer: (A)
What does ‘LPG’ stand for in the context of Indian economic reforms? (A) Liberalisation, Privatisation, Globalisation (B) Legalisation, Planning, Growth (C) Law, Policy, Governance (D) Liberalism, Planning, Governance Answer: (A)
Which one of the following is not included in the capital receipts of the budget? (A) Recovery of loans (B) Borrowing from public (C) Income tax (D) Disinvestment Answer: (C)
The ‘Hirakud Project’ is related to – (A) Multi-purpose river project (B) Power generation only (C) Irrigation only (D) Drinking water only Answer: (A)
The term ‘core inflation’ excludes – (A) Food and fuel prices (B) Manufactured goods (C) Imported goods (D) Government services Answer: (A)
Which of the following is not a part of the WTO? (A) General Agreement on Tariffs and Trade (B) General Agreement on Trade in Services (C) Trade Related Intellectual Property Rights (D) International Monetary Fund Answer: (D)
The concept of “Microfinance” is most suitable for – (A) Large enterprises (B) Small farmers and poor entrepreneurs (C) Government departments (D) Exporters Answer: (B)
The Phillips Curve represents the relationship between – (A) Unemployment and Inflation (B) Interest rate and Investment (C) Consumption and Income (D) Savings and Investment Answer: (A)
A non-tax revenue source for the government is – (A) GST (B) Income tax (C) Interest receipts (D) Excise duty Answer: (C)
The largest employment provider in India is – (A) Public Sector (B) Private Sector (C) Agriculture Sector (D) MSME Sector Answer: (C)
Which of the following is not an objective of monetary policy? (A) Price Stability (B) Full Employment (C) Equal Income Distribution (D) Economic Growth Answer: (C)
The term ‘bear market’ refers to – (A) Rising stock prices (B) Falling stock prices (C) Stable market (D) None of the above Answer: (B)
Which body is responsible for issuing coins in India? (A) RBI (B) Ministry of Finance (C) SEBI (D) SBI Answer: (B)
Fiscal policy is used to correct – (A) Inflation (B) Deflation (C) Income inequality (D) All of the above Answer: (D)
When was the Banking Regulation Act enacted? (A) 1947 (B) 1949 (C) 1950 (D) 1951 Answer: (B)
The term “Blue Economy” refers to – (A) Ocean resources and economy (B) Tech startups (C) Rural banking (D) Space research Answer: (A)
The aim of the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) is – (A) Health care (B) Skill development (C) Infrastructure (D) Urban housing Answer: (B)
Which organisation is known as the lender of the last resort? (A) SEBI (B) World Bank (C) RBI (D) IMF Answer: (C)
The term “Fiscal Drag” refers to – (A) Reduced inflation due to taxation (B) Automatic increase in tax revenue due to inflation (C) Tax evasion (D) Fiscal deficit reduction Answer: (B)
A country is said to be in a debt trap if – (A) It has to borrow to repay old debts (B) It cannot export (C) It defaults on loans (D) It has high fiscal surplus Answer: (A)
What is the full form of SIDBI? (A) Small Industries Development Bank of India (B) Social Investment and Development Bank of India (C) Sustainable Industrial Development Board of India (D) State Industrial Development Board of India Answer: (A)
Inflation targeting in India is based on – (A) WPI (B) CPI (C) GDP deflator (D) Base year index Answer: (B)
Which of the following schemes promotes financial inclusion? (A) Ayushman Bharat (B) Jan Dhan Yojana (C) Ujjwala Yojana (D) PMGSY Answer: (B)
The National Income of India is measured in – (A) Constant Prices (B) Current Prices (C) Both A and B (D) None of these Answer: (C)
Which of the following deals with the regulation of the insurance sector in India? (A) RBI (B) IRDAI (C) SEBI (D) NABARD Answer: (B)
Disguised unemployment is mostly found in – (A) Industrial sector (B) Agricultural sector (C) IT sector (D) Financial sector Answer: (B)
India’s first mutual fund was launched by – (A) SBI (B) LIC (C) UTI (D) HDFC Answer: (C)
Which institution regulates chit funds in India? (A) RBI (B) SEBI (C) State Governments (D) Ministry of Finance Answer: (C)
Which of the following organisations provides short-term crop loans to farmers? (A) NABARD (B) SIDBI (C) RBI (D) SEBI Answer: (A)
Minimum Support Price (MSP) is recommended by – (A) FCI (B) Ministry of Agriculture (C) Commission for Agricultural Costs and Prices (D) NABARD Answer: (C)
The ‘Ease of Doing Business’ report is released by – (A) IMF (B) World Bank (C) WTO (D) UNDP Answer: (B)
Public goods are – (A) Excludable and rival (B) Non-excludable and rival (C) Excludable and non-rival (D) Non-excludable and non-rival Answer: (D)
The rupee is a – (A) Fully convertible currency (B) Partially convertible currency (C) Non-convertible currency (D) Pegged currency Answer: (B)
‘Venture Capital’ is a form of – (A) Long-term debt (B) Equity financing for startups (C) Working capital loan (D) Overdraft facility Answer: (B)
Which sector is known as the “sunrise sector” in India? (A) IT (B) Textile (C) Mining (D) Agriculture Answer: (A)
A decrease in demand with no change in supply results in – (A) Increase in price (B) Decrease in price (C) No change in price (D) Increase in supply Answer: (B)
Which of the following is included in the tertiary sector? (A) Fishing (B) Banking (C) Manufacturing (D) Mining Answer: (B)
NPA in banking refers to – (A) Net Performing Assets (B) Non-Performing Assets (C) Net Priority Advances (D) None of the above Answer: (B)
Basel Norms are related to – (A) Agriculture policy (B) Banking supervision (C) WTO guidelines (D) Income tax Answer: (B)
What is the main objective of fiscal policy in India? (A) Growth with stability (B) Control inflation (C) Reduce unemployment (D) All of the above Answer: (D)
“Global Hunger Index” is released by – (A) WHO (B) UNDP (C) IFPRI (D) World Bank Answer: (C)
Which ministry prepares the Union Budget in India? (A) Ministry of Commerce (B) Ministry of Planning (C) Ministry of Finance (D) Ministry of Corporate Affairs Answer: (C)
