Below we have published 10 Indian Economy GK Question with Answers helpful for competitive examinations. If you want to score maximum in your exam must solve each question sincerely and if you came across any new term, try to find more knowledge about it on internet to improve your knowledge.
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Indian Economy MCQs Test Paper -8
Q.1. National Development Council was set up in _______.
A) 1955
B) 1952
C) 1948
D) 1950
E) None of these
B) 1952
C) 1948
D) 1950
E) None of these
Q.2. Indicative Planning is being pursued in India since the 8th Plan aims at ensuring that :
A) Planning mechanism brings about a balance between need and supply
B) Planning concerns itself with laying down broad directions in which the economy should move
C) Planning mechanism concerns itself with optimal utilization of resources
D) Planning mechanism plays a facilitatory role
E) All of these
B) Planning concerns itself with laying down broad directions in which the economy should move
C) Planning mechanism concerns itself with optimal utilization of resources
D) Planning mechanism plays a facilitatory role
E) All of these
Q.3. The basic difference between imperative and indicative planning is that:
A) in the case of imperative planning, all economic activities belong to public sector, while in the other type they belong to the private sector
B) it is easier to achieve targets in imperative type of planning
C) in the case of indicative planning, there is no need to nationalize any industry
D) in the case of the imperative planning, the market mechanism is entirely replaced by a command hierarchy, while in the case of indicative planning, it is looked upon as a way to improve the functioning of the market system
E) None of these
B) it is easier to achieve targets in imperative type of planning
C) in the case of indicative planning, there is no need to nationalize any industry
D) in the case of the imperative planning, the market mechanism is entirely replaced by a command hierarchy, while in the case of indicative planning, it is looked upon as a way to improve the functioning of the market system
E) None of these
Q.4. The Minimum Needs Programme aims to ________.
A) Provide necessary resources by way of refinance to primary lenders
B) Provide means for greater mechanization of agriculture
C) Improve the living condition of the poor and also promote their education and health
D) All of the above
E) None of these
B) Provide means for greater mechanization of agriculture
C) Improve the living condition of the poor and also promote their education and health
D) All of the above
E) None of these
Q.5. Broad money in India is ________.
A) M1
B) M2
C) M3
D) M4
E) None of these
B) M2
C) M3
D) M4
E) None of these
Q.6. With regard to stock markets, how do we define the terms bull and bear.
A) A bull is ready to buy any share; a bear only deals in government securities
B) Bull is one who first sells a share and then buys it at a lower price; bear means one who first buys and then sells it in expectation of prices going up
C) There is nothing significantly different as both operate in the capital market
D) A bull is an optimistic operator who first buys and then sells shares in expectation of the price going up; a bear is a pessimistic market operator who sells the shares in expectation of buying them back at a lower price
E) None of these
B) Bull is one who first sells a share and then buys it at a lower price; bear means one who first buys and then sells it in expectation of prices going up
C) There is nothing significantly different as both operate in the capital market
D) A bull is an optimistic operator who first buys and then sells shares in expectation of the price going up; a bear is a pessimistic market operator who sells the shares in expectation of buying them back at a lower price
E) None of these
Q.7. Which of the following is false about 'vote-on-account'.
A) This allows the Government to withdraw an amount for a period with the consent of Parliament
B) It prevents the Government from imposing fresh taxes or withdrawing old one
C) It does not allow the Government to set for the economic policies of the new plan which starts from April 1
D) It is a budget presented in the Parliament to cover the deficit left by the last budget
E) None of these
B) It prevents the Government from imposing fresh taxes or withdrawing old one
C) It does not allow the Government to set for the economic policies of the new plan which starts from April 1
D) It is a budget presented in the Parliament to cover the deficit left by the last budget
E) None of these
Q.8. Indian Railways earn revenue from _________.
A) Passenger tax
B) Passenger fare
C) Freight
D) Traffic Tax
E) None of these
B) Passenger fare
C) Freight
D) Traffic Tax
E) None of these
Q.9. G-77 summit is a forum for_______.
A) East-West Cooperation
B) North-South Cooperation
C) North-North Cooperation
D) South-South Cooperation
E) None of these
B) North-South Cooperation
C) North-North Cooperation
D) South-South Cooperation
E) None of these
Q.10. Which of the following is wrongly matched?
A) Central Duck Breeding Farm – Chikmagalur
B) Indian Institute of Sugarcane Research – Lucknow
C) National Institute of Animal Genetics – Karnal
D) Central Institute of Coastal Engineering for Fisheries – Bangalore
E) None of these
B) Indian Institute of Sugarcane Research – Lucknow
C) National Institute of Animal Genetics – Karnal
D) Central Institute of Coastal Engineering for Fisheries – Bangalore
E) None of these
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