Indian Economy MCQ for Competitive Examination
Q. 61
Which five-year plan focused on ‘Growth with Social Justice and Equality’?
(A) Seventh five-year plan
(B) Eight five-year plan
(C) Ninth five-year plan
(D) Tenth five-year plan
Answer: (C) Ninth five-year plan
Explanation: N/A
Q. 62
LPG model was introduced in India in which year?
(A) 1991
(B) 1992
(C) 1993
(D) 1995
Answer: (A) 1991
Explanation: N/A
Q. 63
Who among the following advocated for the adoption of PURA model of development in India?
(A) Atal Bihari Bajpayee
(B) Manmohan Singh
(C) A.P.J Abdul Kalam
(D) Raghuram Rajan
Answer: (C) A.P.J Abdul Kalam
Explanation: PURA (Providing Urban Amenities in Rural Areas)
Q. 64
The fourteen major banks in India were nationalised in the year
(A) 1967
(B) 1969
(C) 1970
(D) 1971
Answer: (B) 1969
Explanation: N/A
Q. 65
India switched to decimal currency system in the year
(A) 1955
(B) 1956
(C) 1957
(D) 1958
Answer: (C) 1957
Explanation: N/A
Q. 66
Small farmers in the country have been defined as those farmers having landholding of
(A) Below one hectare
(B) One to two hectare
(C) Two to three hectare
(D) Three to four hectare
Answer: (B) One to two hectare
Explanation: N/A
Q. 67
Which is NOT a measure undertaken by the government to check inflation?
(A) Increase in consumption
(B) Increase in production
(C) Reduction in Deficit financing
(D) Taxation measures
Answer: (A) Increase in consumption
Explanation: N/A
Q. 68
The ‘Slack Season’ in the Indian Economy is:
(A) March–April
(B) September–December
(C) January–June
(D) February–April
Answer: (C) January–June
Explanation: N/A
Q. 69
Which of the following is the regulator of the credit rating agencies in India?
(A) RBI
(B) IRDA
(C) SEBI
(D) SIDBI
Answer: (C) SEBI
Explanation: N/A
Q. 70
Which is the first India company to be listed in NASDAQ?
(A) Reliance
(B) TCL
(C) HCL
(D) Infosys
Answer: (D) Infosys
Explanation: N/A
Q. 71
Which of the following method is not used in determining National Income of a country?
(A) Income Method
(B) Output Method
(C) Input Method
(D) Investment Method
Answer: (D) Investment Method
Explanation: N/A
Q. 72
Overuse of resource is called ‘Tragedy of Commons’. It was propounded by
(A) Garett Hardin
(B) Seligman
(C) Adolph Wagner
(D) A.P. Lemier
Answer: (A) Garett Hardin
Explanation: N/A
Q. 73
Which five-year plan period is not correct among the following?
(A) First: 1951-56
(B) Second: 1956-61
(C) Third: 1961-66
(D) Fourth: 1966-71
Answer: (D) Fourth: 1966-71
Explanation: N/A
Q. 74
Community Development Programme was launched in the year
(A) 1952
(B) 1950
(C) 1951
(D) 1953
Answer: (A) 1952
Explanation: N/A
Q. 75
Who made the statement that ‘Multi-purpose river valley projects are the ‘New temples of modem India’?
(A) Mahatma Gandhi
(B) Jawaharlal Nehru
(C) Indira Gandhi
(D) Rajiv Gandhi
Answer: (B) Jawaharlal Nehru
Explanation: N/A
Q. 76
Which of the following is a non-banking financial institution?
(A) RBI
(B) SBI
(C) ICICI
(D) LIC
Answer: (D) LIC
Explanation: N/A
Q. 77
The largest component of National Income in India is
(A) Service sector
(B) Agriculture
(C) Industrial sector
(D) Trade sector
Answer: (A) Service sector
Explanation: N/A
Q. 78
In a developing country like India, in which sector a high rate of disguised unemployment exists?
(A) Corporate Sector
(B) Household Sector
(C) Service Sector
(D) Agricultural Sector
Answer: (D) Service Sector
Explanation: N/A
Q. 79
Which is the biggest tax-paying sector in India?
(A) Agriculture sector
(B) Industrial sector
(C) Transport sector
(D) Banking sector
Answer: (B) Industrial sector
Explanation: N/A
Q. 80
Self-reliance was first emphasized during which five-year plan?
(A) Second five-year plan
(B) Third five-year plan
(C) Fourth five-year plan
(D) Fifth five-year plan
Answer: (D) Fifth five-year plan
Explanation: N/A
Q. 81
Which law states that bad money drives good money out of circulation?
(A) Gresham’s Law
(B) Keynes’ Law
(C) Grimm’s Law
(D) Wagner’s Law
Answer: (A) Gresham’s Law
Explanation: N/A
Q. 82
Lowering of value of currency relative to a foreign reference currency is called
(A) Revaluation
(B) Devaluation
(C) Inflation
(D) Recession
Answer: (B) Devaluation
Explanation: N/A
Q. 83
Wealth Definition of economics was put forward by
(A) Lionel Robbins
(B) Alfred Marshall
(C) Adam Smith
(D) David Ricardo
Answer: (C) Adam Smith
Explanation: N/A
Q. 84
In which year Imperial Bank was constituted?
(A) 1930
(B) 1935
(C) 1955
(D) 1921
Answer: (D) 1921
Explanation: N/A
Q. 85
Who estimated the national income for the first time in India?
(A) Mahalanobis
(B) Dadabhai Naoroji
(C) Osborne Smith
(D) M. Narasimham
Answer: (B) Dadabhai Naoroji
Explanation: N/A
Q. 86
The abbreviation ‘SEBI’ stands for
(A) Savings and Exchange Bank of India
(B) Securities and Exchange Bank of India
(C) Survey of essential business in India
(D) Securities and Exchange Board of India
Answer: (D) Securities and Exchange Board of India
Explanation: N/A
Q. 87
Insurance sector in India is regulated by
(A) RBI
(B) CII
(C) IRDA
(D) SEBI
Answer: (C) IRDA
Explanation: N/A
Q. 88
Who coined the term ‘Hindu Rate of Growth’ for Indian Economy?
(A) Amartya Sen
(B) Raj Krishna
(C) Montek Singh Ahlualia
(D) Raghuram Rajan
Answer: (B) Raj Krishna
Explanation: N/A
Q. 89
Per capita income is obtained by dividing National Income by
(A) Total population of the country
(B) Total working population
(C) Area of the country
(D) Volume of capital used
Answer: (A) Total population of the country
Explanation: N/A
Q. 90
The goods which people consume more, when their price rises are called
(A) Essential goods
(B) Demand goods
(C) Giffen goods
(D) Veblen goods
Answer: (C) Giffen goods
Explanation: N/A