Indian Economy Multiple Choice Questions PDF

INDIAN ECONOMY Multiple choice questions 1. India’s economic planning cannot be said to be: a. Indicative b. Imperative c. Limited d. Democratic. Ans. Option : B 2. Economic Survey is published by: a. Ministry of finance...

INDIAN ECONOMY Multiple choice questions 1. India’s economic planning cannot be said to be: a. Indicative b. Imperative c. Limited d. Democratic. Ans. Option : B 2. Economic Survey is published by: a. Ministry of finance b. Planning commission c. Govt. of India d. Indian statistical institute Ans. Option : A 3. India is the biggest produces as well as the largest consumer and importer of which of the following crops? a. Wheat b. Cotton c. Sugarcane d. Pulses Ans. Option : D 4. Which of the is an example of passive investment instrument? a. Gold ETFs b. Mutual funds c. Stocks d. Preference shares Ans. Option : A 5. A persistent fall in the general price level of goods and services is known as: a. Deflation b. Disinflation c. Stagflation d. Depression Ans. Option : A  6. Who is the chairman of planning commission in India: a. President b. Vice president c. Prime Minister d. Finance Minister Ans. Option : C 7. The one rupee not bears the signature of : a. RBI governor b. President of India c. Finance Minister d. Finance Secretary Ans. Option : D 8. Which of the following will not some under the proposed GST in India? a. Agricultural products b. Handicrafts c. Gems and Jewelleries d. Petroleum products Ans. Option : D 9. The concept of five year plan was borrowed from: a. USA b. England c. Rusia d. France Ans. Option : C 10. Who is the largest trading partner of India? a. USA b. China c. England d. United Arab Emirates Ans. Option : B 11. In which year national development counsil was set up? a. 1949 b. 1955 c. 1951 d. 1952 Ans. Option : D 12. The department od Family planning was set up in/ a. 1965 b. 1966 c. 1977 d. 1975 Ans. Option : B 13. Which of the following is / are immediate objective of the population policy of 2020? a. Meet the needs of contraception b. Meet the needs of health infrastructure c. Meet the needs of health personal d. All the above Ans. Option : D 14. Rak of growth in “Hindu rate of growth” is stablished at? a. 1% b. 2.5% c. 3.5% d. 5% Ans. Option : C 15. The book “Planning Economy for India” was written by? a. V. K. R. V. Rao b. M. Visvesvaraya c. K. N. Rai. d. Manmohan Singh Ans. Option : B 16. What is the fullform of Niti yog? a. National Institute to Transform India b. National Institute for Transforming India c. National Institution to Transform India d. National Institution for Transforming India Ans. Option : D 17. Unfair trade practices are included in: a. FERA b. FEMA c. MRTP Act d. Anti Laundering act Ans. Option : C  18. Multi fibre agreement is related to a. Textiles b. Agriculture c. Chemicals d. Plastics. Ans. Option : A 19. Which of the following combinations is correct? a. NABARD – Industrial Loan b. IDBI – Short term Loans c. RBI – Long term Loans d. RRB – Agricultural Finance Ans. Option : C 20. Which one of the following statements about globalization is not correct? a. All economies are closed b. Secular economies c. Open economies with trade liberalization d. None of these are correct Ans. Option : C 21. Which one of the following was the objective of 12 th five year plan of India? a. Faster and Inclusive growth b. Faster quick and reliable inclusive growth c. Faster reliable and more inclusive growth d. Faster sustainable and more inclusive growth. Ans. Option : D 22. Indian Economy is : a. Socialist Economy b. Gandhian Economy c. Mixed Economy d. Free Economy Ans. Option : C 23. Mixed Economy means an economy where: a. Both agriculture and industry are equally promoted by the state.  b. There is co-existence of public sector along with private sector. c. There is importance of small scale industries along with heavy industries. d. Economy is controlled by military as well as civilian rulers. Ans. Option : B 24. Who is the chairman of the planning commission in India? a. President b. Vice president c. Prime Minister d. Finance Minister Ans. Option : C 25. The deputy chairman of the planning commission: a. HRD minister b. Finance Minister c. Holds the rank of cabinet ministry. d. Is an Economist of repute. Ans. Option : C 26. The second five year plan laid more stress on : a. Industrialization b. Removing poverty c. Self-reliance d. Agriculture Ans. Option : A 27. A Rolling plan is a plan for: a. One year b. Two year c. Three year d. Five year Ans. Option : A 28. Rolling plan was designed for the period of : a. 1985-90 b. 1974-79 c. 1980-85 d. 1978-83 Ans. Option : D 29. Major objective of 31st five year plan was: a. Industrial growth  b. Self- reliance c. Economic growth d. Development of agriculture Ans. Option : D 30. Major portion of working population in India is in” a. A tertiary factor b. Private sector c. Public sector d. Secondary Sector Ans. Option : B 31. Planning in India derivers its objectives from: a. Fundamental rights b. Fundamental duties c. Preamble d. Directive principles of state policy. Ans. Option : D 32. Economic planning is a subject in: a. Concurrent list b. State list c. Union list d. Special list Ans. Option : A 33. The contribution of Indian agricultural sector is : a. Increasing b. Decreasing c. Constant d. None of there Ans. Option : B 34. The concept of Five year plan was introduced by : a. Morarji Desai b. Lal Bahadur Shastri c. Jawaharlal Nehru d. Indira Gandhi Ans. Option : C 35. The strategy of rolling plan was adopted by: a. Jawaharlal Nehru b. Morarji Desai  c. Rajeev Gandhi d. Narendra Modi Ans. Option : B 36. The total expenditure for agriculture was the highest in which five year plan a. Fourth five year plan b. Third five year plan c. Second five year plan d. First five year plan Ans. Option : A 37. The first chairman of planning commission: a. Sardar Vallabhai Pattel b. Indira Gandhi c. Dr. Rajendra Prasad d. Jawaharlal Nehru Ans. Option : D 38. The growth rate of agricultural sector was negative in a. 1st Plan b. 2nd Plan c. 3rd Plan d. All the above Ans. Option : C 39. Globalization of Indian Economy means: a. Increasing External borrowing b. Larger FDI c. Import Substitution d. Minimum possible restrictions on economic relation with other countries. Ans. Option : D 40. National development council was stated in a. 1948 b. 1949 c. 1951 d. 1952 Ans. Option : D 41. ‘Take off stage’ in an economy means a. Restrictions are removed  b. Economy is stagnant c. Steady growth begins d. Economy is collapsing Ans. Option :C 42. A Closed economy means: a. Only exports are take place b. Money supply is controlled c. Digital financing take place d. Neither exports nor imports Ans. Option : D 43. Which of the statement is correct about Indian planning commission. a. Member – do not require any minimum education. b. It is not defined in Indian Constitution. c. Do not have fined working duration d. All the above Ans. Option : B 44. In which sector the public sector is most dominant. a. Transport b. Steel production c. Financial Institution d. Commercial banking Ans. Option : D 45. India had a plan holiday a. After the draught of 1966 b. After the liberation of Bangladesh in 1971 c. After India Pakistan was in 1965 d. After the India china was 1962 Ans. Option : A 46. In Economics production means a. A Faming b. Manufacturing c. Creating utility d. Making Ans. Option : C 47. Which type of economy can be termed as laissez – faire economy a. Mixed economy b. Socialist economy  c. Command economy d. Capitalist economy Ans. Option : D 48. FERA stands for a. Foreign Exchange Reglation Act b. Foreign Energy Reglation Act c. Foreign Exchange Rulling Act d. None of these Ans. Option : A 49. FEMA Stands for a. Foreign exchange Merging Act b. Foreign exchange Managed Act c. Foreign Exchange Management Act d. None of these Ans. Option : C 50. MNCs Stands for a. Multinational commodities b. Multinational Corporations c. Minimum number of commodities d. None of these Ans. Option : B 51. Devaluation of Indian Rupee in terms of US Dollar was in the year. a. 2019 b. 2000 c. 1981 d. 1991 Ans. Option : D 52. IMF stands for. a. Indian Monetary Fund b. Internal Monetary Fund c. International Monetary Fund d. None of these Ans. Option : C 53. Import substitution means a. Constant rate of imports b. Increase in imports c. Producing imported good domestically  d. Import ban Ans. Option : C 54. FDI stands for : a. Future Direct Investment b. Foreign Direct investment c. Further Direct Investment d. Fund for Direct Investment Ans. Option : B 55. FII helps to improve: a. Capital market b. How of equity capital c. Financial innovation and development d. All the above Ans. Option : D 56. Multi National corporations owns and managers business in true or more countries called. a. MNC b. FDI c. FII d. Monopoly Ans. Option : A 57. Demography means a. Study of earth b. Study of population c. Study of Morality d. Study of directions. Ans. Option : B 58. Number of individuals those die in a population in a given period of five is called: a. Morality rate b. Population density c. Birth rate d. None of these Ans. Option : A 59. Population density means a. Rate of growth of population b. Rate of death rate of population  c. Rate of birth rate of population d. Population size in a specifies area. Ans. Option : D 60. The population of India as on 1st March 2011. a. 100 crores b. 150 crores c. 200 crores d. 121 crores Ans. Option : D 61. Sex ratio in India as per the census of 2011. a. 1000 females per 1000 males b. 1036 females per 1000 males c. 840 females per 1000 males d. 940 females per 1000 males Ans. Option : D 62. The state recorded highest value of overall sex ratio is a. TamilNadu b. Andra Pradesh c. Kerala d. Damen and die Ans. Option : C 63. What is crude Literacy rate. a. Number of illiterate persons to total populations b. Number of graduate peoples to total population c. Number of literate persons to total population d. None of these Ans. Option : C 64. As per the 2011 census literacy rate in India was a. 94% b. 74.04% c. 88.8% d. 100% Ans. Option : B 65. Number of persons per square Kilometer is called. a. Density of population b. Growth rate of population c. Morality rate of population  d. None of these Ans. Option : A 66. Measuring number of people who die is a. Infant note b. Migration Note c. Morality rate d. Fertility rate Ans. Option : C 67. NPP stands for a. National Production policy b. National Power Policy c. National Population Policy d. None of these Ans. Option : C 68. Which of the following is a commercial crop in India a. Mustard b. Tobacco c. Jute d. All the above Ans. Option : D 69. What percentage of Indian population is depend on agriculture a. 65% b. 535 c. 40% d. 70% Ans. Option : B 70. What percentage of Indian GDP is contributed by the service sector. a. 25% of GDP b. 60% of GDP c. 53% of GDP d. 49% of GDP Ans. Option : B 71. What activity is termed as activity of tertiary sector ? a. Wheat production b. Mobile production c. Construction of a dam d. Fishing  Ans. Option : C 72. An Economy which does not have any relation with ret of the world is known as: a. Mixed economy b. Open economy c. Closed economy d. Socialist economy Ans. Option : C 73. India is a: a. Developed country b. Developing country c. Under developed country d. None of these Ans. Option : B 74. Which sector is considered as the work force of Indian Economy? a. Primary b. Secondary c. Tertiary d. None of these Ans. Option : A 75. According to 2011 census the rate of urbanization in India is a. 72.2% b. 32.5% c. 31.16% d. 45.2% Ans. Option : B 76. Among the Indian state which has the highest density? a. Bengal b. Kerala c. Punjab d. Bihar Ans. Option : B 77. Relative poverty is basically related to a. Poor b. Rich c. Both d. None  Ans. Option : A 78. The sex ratio of Kerala in 2011 is a. 1084 b. 1080 c. 1040 d. 1041 Ans. Option : A 79. The child sex ratio of India in 2011 is a. 913 b. 940 c. 961 d. None Ans. Option : A 80. The type unemployment more prominent in India a. Seasonal b. Cyclical c. Structural d. Open. Ans. Option : A 81. India’s unemployment is estimated by a. Finance Ministry b. RBI c. NSSO d. ISO Ans. Option : D 82. Disguised unemployment is common in a. Agricultural sector b. Industrial sector c. Service sector d. Non of these Ans. Option : A 83. The rate of unemployment in India in 2009- 10 is a. 5.8 b. 5.6 c. 8.2 d. None  Ans. Option : C 84. India’s Rank according to ADI in 2012 is a. 127 b. 134 c. 136 d. 124 Ans. Option : B 85. The annual growth rate of India’s population according to 2011 census is a. 1.9% b. 1.76% c. 2% d. None Ans. Option : A 86. What was the contribution of the primary sector to net domestic product of India in 2011 a. 80% b. 18% c. 53% d. 25% Ans. Option : B 87. Land reform Includes: a. New idea of irrigation b. Fertilizers c. New seeds d. All the above. Ans. Option : D 88. What is the main wheat production state in India a. Punjab b. Goa c. Kerala d. Orissa Ans. Option : A 89. Which is the commercial crop a. Rice b. Wheat c. Tea d. None of these  Ans. Option : c 90. PDS stands for a. Price Distribution system b. Public Division system c. Public Distribution System d. None of these Ans. Option : A 91. Regional Rural Bank were started in: a. 1975 b. 1991 c. 1969 d. 1972 Ans. Option : A 92. When the 1st Industrial Policy was introduced? a. 1951 b. 1948 c. 1991 d. 1956 Ans. Option : A 93. MRTP Act is related to? a. Industry b. Service c. Shopping d. Boat Ans. Option : A 94. Indian Iron and steel company was established in: a. 1919 b. 1976 c. 1909 d. 1090 Ans. Option : C 95. Bockaro steel plant was started during Plan? a. 1st b. 2nd c. 3rd d. 4th Ans. Option : A 96. Export production is an: a. Outward booking strategy b. Inward booking strategy c. Fiscal strategy d. Political Strategy Ans. Option : A 97. Import quota is: a. Tariff b. Non-Tariff barrier c. Concession d. International Obligation. Ans. Option : B 98. Who is the father of Green Revolution in India? a. Norman E Barlaug b. Swaminathan c. Garry Backer d. Dr. P. M. Jha Ans. Option : B 99. Which of the following is a Kharif crop? a. Wheat b. Maize c. Gram d. Barbey Ans. Option : B 100. The difference between GDP and NDP is : a. Government revenue b. Net Indirect Tax c. Net capital Formation d. None of these Ans. Option : B 101. Unemployment which occur due to move from one job to another job I known as: a. Seasonal Unemployment b. Frictional unemployment c. Cyclical unemployment d. Technical Unemployment. Ans. Option : B 102. Type of unemployment mostly found in India: a. Structural unemployment b. Frictional unemployment c. Cyclical unemployment d. Disguised. Ans. Option : D 103. Unemployment in a developing country is generally take place due to a. Switch over from one job to another. b. Lack of effective demand c. Seasonal factors. d. Lack of complementary factors of production. Ans. Option : B 104. Cyclical unemployment refers to. a. Seasonal unemployment b. Disguised unemployment c. Voluntary unemployment d. Unemployment due to economic reason. Ans. Option : D 105. Absolute poverty means. a. Poverty in terms of absolute number of people b. Poverty in terms of basic minimum calorie requirements. c. Poverty in terms of prevailing price level. d. None of these. Ans. Option : B 106. Poverty gap is: a. Different between poverty line and actual income level. b. Gap between rich and poor. c. Gap between developed ration and developing ration d. None of these. Ans. Option : A 107. When the productive capacity of an economy is inadequate to create sufficient number of jobs is called. a. Seasonal unemployment b. Structural unemployment c. Disguised unemployment  d. Cyclical unemployment Ans. Option : B 108. Poverty in less developed countries is largely due to a. Voluntary idleness b. Income inequality c. Lack of cultural activities d. Lack of intelligence of people. Ans. Option : B 109. Which of the sector has emerged as the largest producing sectors in India. a. Tertiary sector b. Primary sector c. Secondary sector. d. None of these. Ans. Option : A 110. GDP is the total values of a. All final goods and services b. All interactive goods and services c. All international goods and services. d. None of these. Ans. Option : A 111. The best indicator of economic development of any country is a. Its agriculture b. Its transport c. Its gross production d. Its per capital income. Ans. Option : C 112. The mid day meal scheme was launched on: a. August 15, 2000 b. August 15, 1992 c. August 15,1995 d. August 15,2001 Ans. Option : C 113. On July 12, 1982 the ARDC collaborated with. a. NABARD b. Exim Bank c. RBI d. None of these. Ans. Option : A 114. The first complete Indian bank was established in the year. a. 1794 b. 1894 c. 1896 d. 1902 Ans. Option :A 115. The Gandhian Plan was Presented by a. M. N. Roy b. Nehru c. Shriman Narayan d. 8 leading economist Ans. Option : A 116. Which of the following is not a feature of Indian Planning a. Physical Planning b. Indicative economic planning c. Decentralised Planning d. None of these above. Ans. Option : A 117. A. Rolling plan refer to a plan which? a. Does not change it target every year. b. Change it allocation every year. c. Changes its allocation and target every year. d. None of these. Ans. Option : B 118. National development council was constituted in a. August 16,1950 b. August 6, 1952 c. August 1, 1951 d. August 16, 1952 Ans. Option : C 119. ‘Twenty point programme’ was launched in the year. a. 1969 b. 1975 c. 1977 d. 1980 Ans. Option : B 120. Mahalanohis model has been associated with five year plan. a. 1st five year plan b. 2nd five year plan c. 3rd five year plan d. 4th five year plan Ans. Option : B 121. In which among the following years, essentials commodities act enacted? a. 1955 b. 1958 c. 1961 d. 1975 Ans. Option : C